Albuquerque citizen. [volume] (Albuquerque, N.M.) 1907-1909, 1907-12-03

To the Senate and House of Repre-
sentatives:
No nation has greater resources
than ours and | think it can be truth
fully said that the citizens of no ma
ton possess greater energy and in
dustrial ability. In no nation are
the fundamental business conditions
sounder than ours at this very mo-
ment; and IL is foolish. when such
is the case for people to hoard mo-
ney instead of keeping 1t in sound
banks for II Is such boarding that
is the Immediate occasion of money
a.fngency. Noreovec. as rule, the
business of our people is conducted
WITH honesty and pvobity and this
applies alike to farms and factories,
TO railroads and banks. to all our
legitimate commercial enterprises.
In any large body Of men, how
ever, there are certain to be some
who are dishonest. and IL the condi-
tions are such that these men pros
per or commit their misdeeds with
impunity, their example is a very
evil thing for the community. Where
these men are business men of great
sagacity and temperament both un-
Scrupulous and reckless, and where
the conditions are such that they
act without supervision or control
ard at first without effective check
from public opinion, they delude
many innocent people into making
investments or embarking in kinds Of
business that are really unsound
When the misdeeds of these success
fully dishonest men are discovered,
suffering comes not only upon them,
but upon the innocent men whom
they have misled, 1t is a painful
awakening, whenever 1t occurs; and,
naturally, when it does occur those
who suffer are apt to forget that the
longer 1t was deferred the more pain
full 1t would be. In the effort to
punish the guilty it is both wise and
proper to endeavor so far as posi-
BILE to minimize the distress of those
who have been misled by the guilty.
Yet II Is not possible to refrain be-
cause Of such distress from striving
TO put an end 10 the misdeeds that
are the ultimate causes of the suf
fering, and, as a means to this end,
where possible 20 punish those re-
sensible. and, as a means to this end,
where possible to punish those re-
sponsible for them. There may be
honest differences of opinion as to
many governmental policies; but
surely there can be no such differ
ences as to the need of unfiinching
perseverance in the war against sue
cessful dishonesty.
In my message 90 the congress on
December 5. 1905, l said:
IF the folly of man mars the gem
eral well-being, then those who are
q innocent Of the folly will have to
pay part of the penalty incurred by
those who are guilty of the folly.
A panic brought on by the specula-
tive folly of part of the business
community would hurt the whole
business community; but such stop
page of welfare, though it might be
severe, would not be lasting. In the
long run, the one vital factor in the
permanent prosperity of the country
is the high individual character OF
the average American worker, the
average American citizen, no matter
whether his work be mental or man
ual, whether he be farmer OF wage
worker, business man or professional
man.
In our industrial and social sys-
tenn the interests Of all men are so
closely intertwined that in the i'm
menSe majority of cases a straight
dealing man. who by his efficiency
by his ingenuity and industry, bene-
nLs himself, must also benefit oth-
ers. Normally the man Of great
productive capacity who becomes
rich by enabling them to produce
more than they could produce with
they share in the benefit which
comes also TO the public at large,
The superficial fact that the sharing
may be unequal must never blind US
10 the underlying fact that there is
this sharing, and that the benefit
comes in some degree to each man
concerned. Normally, the wagewOrk-
er, the man of small means, and the
average consumer, as well as the
average producer, are all alike help
ed by making conditions such that
the man of exceptional business abil-
ity receives an exceptional reward
for his ability Something can be