The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-02-05
WALL STREET AND ROOSEVELT.
Powerful Forces at Work TO Thwart
HIS Corporation Programme.

From the New York Journal Of Commerce.
The gravest development of the week
has been not the continued selling Of Sc
curities, not the reckless war screams
Of sensational newspapers. not the de-
crease in the banks reserves. but the
manifestation on the part Of our leading
hnanciers, through their hired satellites.
Of a headstrong determination 10 wreck
At all hazards the governments plans for
uprooting corporate wrongdoing The Vi
tuperation, the calumny, the spite that Is
being vented without restraint may have
consequences the Presidents enemies have
not deliberated upon. Forces are at work
forces that the average citizen thus far
knows nothing Of-which threaten to split
the country into two distinct factions,
namely, the great body Of the people,
headed by President Roosevelt, on the
enc side and what will perhaps be termed
"the Wall Street crowd" on the other. II
the elaborate plans laid, at enormous cost
and not a little ingenuity, by the Presi-
dents powerful detraetors are put into
execution with the vigor and ruthlessness
proposed, a clash is inevitable. This is
the subject influential Wall Street men
are discussing in the club and bank
parIors. Every day brings a more vitriolic,
though usually disguised attack upon the
administration, not, it may have been
noted. for what has been done, but for
what imaginative correspondents, duly
schooled, allege is in contemplation.
During the week all sorts Of wild
I l. In . f.
ideas that are forming or will form in
the brain Of the President before next
session Of the Congress. It can be stated
authoritatively that nothing not in line
with the Presidents present policy is
under consideration, although It can be
added that no agitation inspired by the
men whose regulations may be impaired
/ in the reforming process viii intimidate
/ the President into swerving from the path
/ he has mapped out. The country is en-
titled 10 judge the administration on what
/ has been already done-and surely there
/ has been no lack OF material-but mis-
chief may follow malicious efforts 70
/ condemn it's head for his so-called I'm
/ tentions." Even the Industries that have
/ engaged most attention heretofore are
/ ready TO admit that the result has beer
/ beneficial in every respect. On Saturday
la prominent officer Of one Of the largest
railroad systems I'm the country, in max
/ ing what was STYLED "An Appeal for Faii
/ Play" made this admission. II am heart
/ ily IN favor Of the regulation OF the rail
roads by Federal and State authority, and
/ regard the legislation thus far enacted
in this direction necessary and wise" i
f. past legislation has been necessary and
wise" why should there be hysteria re
garding a continuance ,of the policy tha
brought it about? No one has attacked
( large corporations per Sc, but the peopl.
are behind the government in insisting
that corporations and trusts shall con
form 20 the common law Of the land anC
10 ordinary standards ~ honesty an,
morality. As soon as the public decid
this end has been attained, the deman,
for Investigations viii cease and no Presi
dent, however powerful viii be able {,
override the verdict Of the public