The Washington herald., 1907-12-22
Addresses Merchants Marine
League Of Cleveland.
PROSPERITY is CHILLED
Accounts Thus for the Lack of
Adequate Ship Subsidy.
OhiO Senator Says Great Business
transactions ''WhistIed Down.
Whkle the Entire Country Is Made
&" suffer by Unjust Attacks on Cor
porations - Predicts a Future of
success-McCIeary Speaks.

Two notable speeche e s-one
against and the other favoring the
policies Of President Roosevelt
were made last night.
Opposing the attitude of the ad-
Hinistration in dealing with public
questions was the address of Sena-
tor Foraker, Of Ohio. before the
Merchants Marine League, OF
Cleveland.
The Senator's nominal advocacy
OF ship-subsidy legislation was but
thlniy veiled attack on the nation 5
Chief Executive, whom he accused.
IN trenchant innuendo. of having
impaired the confidence and credit
OF the country in his campaign
against trust interests. This prose
cut'on OF moneyed power he held to
be unwiSe, unjust, and unnecessary.
The speech Of Attorney General
Bonaparte to the members of the
Illinois Athletic Club, in Chicago.
was Just as strongly in favor of
administration methods as was the
other against them.
Mr.. Bonapartc warmly supported
everything that the President has
done, and declared that all violators
OF the Federal laws, regardless of
their station in life, should be pun
ished without reserve.
He declared, furthermore. that
the Presidential candidate who shall
become the choice of the moneyed
class will not be the proper man to
sit in the White House; that Roose-
velt'S successor, to serve the best
interests Of the country. must be
one who will carry out his policies.
Cleveland, Ohio. Dec. 2l.-"We are pass
ing through strange experiences.
The plainest common-sense PROPOSE
lions with respect 20 great business trans
actions are whistled down the wind If
they do not happen 10 suit the excited
fancy Of a lot OF self-constituted repre-
sentatives Of an alleged moral regenera-
ton Of the business world.
''All Of this is unnatural. unwarranted
and injurious, and we are now paying
the penalty
In these striking words. United States
Senator J. b. Foraker, Presidential candi-
date and an openly avowed opponent of
the Roosevelt policies, raped the admin
istration over the knuckIes at a banquet
tonight given by the Merchants Marine
League
His remarks were the startling climax
to a speech advocating ship-subsidy leg
islation They walked to immediate alert
ness the statisjicaIy satiated minds of
the guests. men distinguished in the Do
ltical business. and commercial worlds.
Whole Country Impaired.
The Senator's words were a prelude to
his free-handed discussion of the causes
and effects Of ''the most stupendous pros-
perity the world has ever witnessed he
ing checked and chilled, so that there
followed an unprecedented impairment Of
securities, and a shrinkage in values
which he estimated at $1,000 O0.OOo. affect |
Ing not only Wall street, but the whole |
country and I'm greater or lesser de-
gree, all classes Of people.
He declared that just at the time when
there was necessity for redoubled energy |
in the building OF new railroads. &c |
there was halt Instead OF encourage |
ment for what so vitaIly concerns us.
there Is discOuragement and positive hos |
tility, he exclaimed. Continuing he said: /
1T win be months. probably longer. be-
fore we recover. and we never will re-
cover unless we regain confidence in the /
integrity Of each other, once more regard !
success in business as honorable. and
content ourselves with sane regulations
that viii punish wrongdoers without
bringing wholesale disaster to the inno- |
cent"
Calls Rate Law Absurd.
He attributed 10 the railroad rate law
the chief responsibility for the trouble.
a measure which he characterized rs
absurd, impractical. unnecessary. and I'M
wise.
The trouble is not due to a scarcity of
currency he declared, FOR we have
more money and better money to-day
than ever before. Il is not due to over
speculation. nor TO inflated prices. for
there has not been anything unreasonabIy
extravagant in either respect II is not
due to conspiracy of rich men TO bank
rupt themselves and the whole country
for political purposes
He said that calumny was the reward
OF all VINO offered proper reasons why the
law should not be enacted. NO matter
what the consequence" he exclaimed "a
new leaf must be turned; not only the rail-
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