The Havre herald. [volume] (Havre, Mont.) 1904-1908, 1907-12-06
READ TO CONGRESS
PRESIDENTS MESSAGE AGAIN
OF MUCH INTEREST.
Tells of His ideas on All Important
Questions Now Before the American
Peopie-ciips Freely From Former
Messages at Subjects for Which He
Stands SquareIy.

Washington, D. C.-Both houses OF
congress devoted the most important
part of Tuesdays session to hearing
President Rooseyelt's message. "
The president plunges directly into
the financial and corporation regula-
ton questions. He has nothing to
qualify nor apologize for. In fact, to
support and emphasize his present
position, he quotes extensively from
nreyious messages in which he an
nounced his policy of compelling hon
esty in corporation as we'll as indiVld-
ual dealing.
There is no hint of abating the en-
forcement Of this policy. There is no
Indication anywhere in the message
of thought of retreat from the square
deal stand originally taken by the
president. nor the slightest admission
that this policy has been in any de-
gree responsible for the present f1nan-
cial trouble. --
The statement formerly made by the
president in regard to exposed corpor-
alton crookedness: 1.-THE administra-
ton is responsible for turning on the
light, but is not responsible for what
the light showed" is repeated.
The president breaches more fed
eraI activity In regulating interstate
commerce as much as matter or
Justice to the honest corporation as
to the individual shipper AlQpg this
line he continues to vigorously urge
n ,rnhjhif m0n-
opolies formed to control the sale or
necessities Of life or articles OF gen
eral use.
In regard to the financial situation
the president declares:
"In no nation are the fundamental
business conditions sounder than in
ours at this very moment; and 1t is
foolish, when such is the case, for
people to hoard money instead Of keep
ing it in sound banks; for it is such
boarding that is the immediate occa-
sion of money stringency. Moreover,
as a rule, the business Of our people
is conducted with honesty and probity,
and this applies alike to farms and
factories, to railroads and banks, to
all our legitimate commercial enter
prises.
In any large body Of men, however,
there are certain to be some who are
dishonest, and if the conditions are
such that these men prosper or com
nit their misdeeds with impunity
their example is a very evil thing for
the community. When the misdeeds
of these successfully dishonest men
are discovered, suffering comes not
only upon them. but upon the limo
cent men whom they have misled. 1t
is a painful awakening, whenever ii
occurs; and. naturally, when 1t does
occur those who suffer are apt to for
get that the longer it was deferred
the more painful it would be. In the
effort to punish the guilty it is both
wise and proper to endeayor SO fa1
as possible to minimize the distress
of those who have been misled by the
guilty. Yet it Is not possible to re
frain because Of such distres from
striving to put an end to the misdeeds
that are the ultimate causes OF the
suffering, and, as means to this end
where possible to punish those respon
sible for them. There may be honest
differences of opinion as to many gov
ernmental policies; but surely there
can be no such differences as to the
need of unf1inching perseverance in the
war against successful dishonesty
The president here inserts quo
tation from his 1905 message, making
plain his freedom from hostility to lay
abiding corporations and reiteratins
his policy of seeking to check eithe
organized capital or organized labo
only where either acts against lay
and justice.
Immediate attention to the currenc
problem is urged on congress. TIL
president advocates the adoption Of
plan of elastic currency which sha
be automatic and open to sound bank
and which would prevent the spasm
of high money and speculation whic
obtain in the New York market.
I'VE need a greater elasticity
our currency; provided, of cours
that we recognize the even create
need of safe and secure currenc
There must always be the most rigi
examination by the national author
ties. Provision should be made fl
an emergency currency. The enc
gency issue should, of course, be mao
with an effective guaranty, and upc
conditions carefully prescribed by tt
government. Such emergency issl
must be based on adequate securiti
approved by the government, al
must be issued under a heavy ia
This would permit currency being
sued when the demand for it w
urgent, while securing its retireme
as the demand fell off. 1t is worth
vestigating to determine whether OF
GERS and directors of national ban
should ever be allowed to loan
themselves Trust companies shou
be subject to the same supervision
banks"
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