The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-08-23


sessed with the one purpose 70 either rule
or ruin: who sees. unless he IL more bltndly
Q fool than 7 think In possible, that a ron
tinuation of my policy" will 1T no very dis
tant day force a panic to which all previous
ones may be considered babies; yet has the
face to say. with the spectacle Of hundreds
OF thousands OF hardworking small inves~
tors who have each suffered q loss OF from
say 80 to rs per cent. staring him In the cold
gray eye. we have undertaken no action OF a
vindictive type. and. above all, no action
which shall infict great or unmerited suffer-
ing upon the innocent stockholders and upon
the public AZ a whole"
And that In not ALI Roosevelt, II the peo-
pie should demand the sacrifice" would.
no matter what he has said OF now says, bow
to the m and gladly. triumphantly
enter upon Q third term. with it's vindication
Of my policy" But, II not. his candidate
has already given utteranoe TO the thoughts
and words put into his mind and mouth
by his Master. In Gods name, let us take
the yoke upon US now-hail Theodore Roose-
welt as King by the Grace OF God and the
wish of q servile American press and people.
and make him the happiest man in all crea-
toni
No wonder that Small Investor" says:
For one. I am afraid Of four or eight years
more Of my policies'i" and that B. W." hints
OF Hughes as the safe and sane" man the
country needs. rather than Theodore Roose-
welt, Taft. Foraker or any one OF Caesars
household BUSINESS.
NEW Yonx. August %.
VINO the smail Investor. Anyway?
To THE EDIroR oF TIRE SuN-Str: Of
columns have been filled for the last few
weeks with ale Red letters from small in
vestors complaining about the dire influence
OF President Roosevelt's policies OF stock
market values. These letters were 20 clev-
erly written that they almost rouse the suspi-
cion that they represented the efforts of the
bright young men on THE SUN's stafY. but
granting that they were bona ide emissions
OF people with more than ordinary intelli-
gence In all matters except the investment OF
money, will you be fair enough to give space
to opposed views?
The number Of widows. orphans small
investors. &C, IL less than ? per cent. Of the
country's population. Less than per cent.
OF the population earns 1900 q year or more.
Nothing, however. Is said OF the o. per cent. or
e5 per cent. OF widows. orphans and ordinary
wage earners who for years have seen the
cost Of living increased In almost every par
ticular so that the 2 per cent. might enjoy
increased dividends. the es per cent. who for
the same small wages have swept the ONCE
floors of the gentlemen who make large in
comes by advising small. Investors how to
invest their savings. the eS Der cent. who
have been forced to bear all the expense OF
the prosperity jubilee.
But aside from this l should like TO sug-
gest that II the newspapers had done their
lament the cause Of the small investor. II
instead Of writing bullish editorials when the
bubble n values was near bursting they had
cautioEed investors against foolish purchases.
had advised them to take profits and had
warned them against the fraudulent and
wstered securities OF many companies pro-
NOTED by the elect in Wall Street: IL VIII en-
prices were low In 1904 they had urged the
purchase OF stocks with intrinsic values: IL
they had, in short. followed the suggestions
OF knowledge rather than the wishes of high
hnancters. then there would be to-day mighty
few Of the less than . per cent. OF widows and
small investors to lament the loss Of paper
capital.
There is also a certain amount Of blame
attachable to the small investors themselves.
They were perfectly willing to share in the
high dividends paid by Consolidated Gas,
although they were warned Of coming events
in rood time. preferring. however, to believe
the oficials OF the company. who were at least
not telling the truth. They we're ready to
receive the unearned dividends OF the Metro
politan Street Railway. though the company
showed a deficit for years: they were anxious
for the distribution OF the Hill melons, and
the increased dividends on other stocks which
should never have been declared; in short,
they were quite satisfied to share In the illegal
earnings based In many cases on lawless acts
OF high fnanciers. Let them share also in tho
bitter taste Of the morning after.
The sQueals from The SUN. from Wall
Street. from the small" investor and the
poor loser In general are neither manly nor
convincing. l miss my guess II they do not
disgust the people at large.
EDwARD p'oKNoH TIrrMANN.
NEW YORK. August %.
p. S.-President Roosevelt's suggestion
about . wilful depression OF values by rich
mslefactors lie not his original idea. but q
repetition Of gossip. printed at times 10 vari
GUS columns, that the slump was AN object
lesson to his Administration
Dare He Tackle Predatory Pevertyr.
To THE EDITOR OF The SUN-Sir, No
doubt President Roosevelt is Q brave man.
He charged up San Juan Hill. but countless
thousands OF soldiers the world over have
done - much a. that. He also has been
brave enough. with very strong backing, to
tackle predatory wealth" But that is not
the supreme test Of courage. What . rood
many thousand workingmen would like 10
know is whether he has suficient courage
and honesty to lead him to antagonize pred
story poverty" In the shape OF that most
ubiquitous and oppressive trust, ORGANIZED
labor. In other words. 10 he man enough
to stand for . genuine square deal"p
NoN-UNIoN WORKER.
PATTERSON. N. J.. August 81.
Comparisons.
To The Editor OF THE SUN-Sir, Mr..
Roosevelt has been COMPARED to about avary