New-York tribune., 1907-02-25
PRAISES THE PRESIDENT
DR.. Lyman abbott Says Trusts Are
Not Bad, but Need Cmbing.

In an address delivered yesterday afternoon be-
fore the Peoples Forum IN New Rochelle. the rev.
DR.. Lyman Abbott defended tFusts and corpora
tions and at the same time praised Fresloelr
Roosevelt for his big stick policy. The PRESIDENT
he said was exercising control over legis4a-
ton than any other executive who had ever occu-
pied the White House. He said ne President was
not seeking to attain legislative erGs by the exer
else patronage. and, to this asserted that
ne had made fewer appointments from purely po-
j litical expedtency than any other President.
II is not because of the big stick. but because
the big American people are with HIN. said DIT.
Abbott that he has been able to get so much
good legislation The President has merely under
stood the will Of the people and IS lying TO carry
It out"
Dr. Abbott's subject was The Coming Age" and
he spoke to a large audience. He was introduced
by Dr. W II. Maxwell, eX-superntendent Of the
New York City public schools.
DR.. Abbott showed how the American people are
getting away from their oldJime precedents. I'VE
moving out of a state OF individuaIlsn lhIo
another state, which I shall call fraternaLsIn,
said he. whether we like it not, we are no
longer bound by precedents. We are making our
own precedents, ard believe that we shall make
the twentieth century grand a century as our
fathers made the nineteenth"
The speaker said that the original idea of the
trainers Of the constitution the protection Of lie
and property but that in tho present federal and
state governments the people Of the United States
had outgrown these ideas and We're doing many
things which essential to the protection OF
life and property. For instance he said. the
United States government -dredges the rivers, i'm
proves the harbors, carries the mails and ii ought
70 conduct the telegraph and telephone service. In
our state government we are going on much fur
ther by carrying university work, teaching
music, agriculture and many other branches. The
government has even taken charge Of the banking
Of the country by standing behind the national
banks II we are doing this with banks and
schools, why cannot do 1t with railroads.
believe that the time will come when We will have
the national government behind the railroads, just
the same as we have it behind banks and
schools
7 believe" said DR.. Abbott. that there should
. way by which the government should have
general supervision Of the railroads. but, at the
time, maintain individual initiative and in
dividual efforts. We moving in religion,
are moving on in government, and we are
moving in industry. Some people say that we
should take the shackles of Of industry and allow
every TO so in for himself and all will be
we'll. 7 afraid that all would not be well
This is not fraterualsm FraternalisIn looks after
all 1t makes the success of one the success Of
the community. I believe in trade unionism be-
cause unions built upon the plan that In
jury is injury TO all and benefit to
Is benefit to all"
The speaker endeavored TO disabuse the audience
OF the popular feeling against lie said that
tr and combinations were an agency for 6 al
~ en- they were honestly conducted.
What is q corporadon?" asked DR.. Abbott
ideally it is democratic contrvaace for ccrcen-
tratlng wealth for the purpose Of administration
and distribution. Men combine and put their dol
lars in single purse to build factories and. when
the goods are manufactured. they each take a share
or the profits. 1t is the abuses that have crept
into these corporations. and not their existence,
W2lch have made some Of them obnoxious in
the public eye. The Standard Oil Trust began with
forty-fve original owners, and there are more
than three hundred The true CT the Sugar
Trust which began with only few stockholders
ana now has six hundred. The tendency Of the
HE Pennsylvania Railroad Company has forty-fve
thousand employees, and il also has forty-tve thou
ton of wealth"
The great thing absolutely essential in all bus!-
ness transactlons said the speaker rs public
confidence. What we want IN this country are more
trusts and corporation and means Of Investment
put we want them carried on honestly. We need
also 70 get rid of bosses and machines. The cure
Tor the evils OF Democracy Is more Democracy"
IN conclusion Dr.. Abbott said that eve must
make our corporations what they are ideally in
teIlded TO be We must make It safe for US TO in
vest our money in them and build them up"