Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1907-12-07
PRESIDENTS MESSAGE AGAIN
OF MUCH INTEREST.
Tells of His Ideas on All Important
Questions Now Before the American
People-cllps Freely From Former
Messages Of Subjects for Which He
Stands Squarely.

President Roosevelts message.
The president plunges directly into
the financial and corporation regula-
ton questions He has nothing to
qualify nor apologize for. In fact, to
support and emphasize his present
position, he quotes extensively from
previous messages in which he an
nounced his policy of compelling hon
esty in corporation as well as individ-
ual dealing.
There is no hint of abating the en-
forcement of this policy. There is no
indication anywhere in the message
of thought of retreat from the square
deal stand originally taken by the
president, nor the slightest admission
that this policy has been in any de-
gree responsible for the present tinan-
cial trouble.
The statement formerly made by the
president in regard to exposed cOrpor-
alton crookedness: THE administra-
ton is responsible for turning on the
light, but is not responsible for what
the light showed" is repeated.
The president breaches more fed
eral activity in regulating interstate
commerce as much as matter of
Justice to the honest corporation as
to the individual shipper. Along this
line he continues to vigorously urge
congressional action to prohibit mon
opolies formed to control the sale of
necessities of life or articles of gen
eral use.
In regard to the financial situation
the president declares:
In no nation are the fundamental
business conditions sounder than in
ours at this very moment; and 1t is
foolish, when such is the case. for
people to hoard money instead of keep
ing 1t in sound banks; for it is such
boarding that is the immediate occa-
sion of money stringency. Moreover,
as a rule, the business of our people
is conducted with honesty and probity,
and this applies alike to farms and
factories, to railroads and banks, to
all our legitimate commercial enter
prises.
''In any large body of men, however,
there are certain to be some who are
dishonest, and if the conditions are
such that these men prosper or COM
NIT their misdeeds with impunity,
their example is a very evil thing for
the community. When the misdeeds
of these successfully dishonest men
are discovered, suffering comes not
only upon Them but upon the limo
cent men whom they have misled. 1t
is a painful awakening, whenever it
occurs and, naturally, when it does
occur those who suffer are apt to for
get that the longer it was deferred
the more painful it would be. In the
effort to punish the guilty it is both
wise and proper to endeavOr so far
as possible to minimize the distress
of those who have been misled by the
guilty. Yet it is not possible to re-
frain because of such distres from
striving to put an end to the misdeeds
that are the ultimate causes of the
suffering, and, as a means to this end
where possible to punish those respon
sible for them. There may be honest
differences of opinion as to many gov
ernmental policies; but surely there
can be no such differences as to the
need of unflinching perseverance in the
war against successful dishonesty"
The president here inserts a quo
tation from his 1905 message, making
plain his freedom from hostility to law
abiding corporations and reiterating
his policy of seeking to check either
organized capital or organized labor
only where either acts against law
and justice.
Immediate attention to the currency
problem is urged on congress- The
president advocates the adoption Of &
plan of elastic currency which shall
be automatic and open to sound banks
and which would prevent the spasm.
of high money and speculation which
obtain in the New York market
I'VE need a greater elasticity il
our currency; provided, of course
that we recognize the even greater
need of a safe and secure currency
There must always be the most ri giC
examination by the national authori
ties. Provision should be made TO-
an emergency currency. The emer
gency issue should of course, be mad,
with an effective guaranty. and upoI
conditions carefully prescribed by tn,
government Such emergency issu,
must be based on adequate securities
approved by the government anC
must be issued under a heavy tax
This would permit currency being is
sued when the demand for it wal
urgent, while securing its retiremen
as the demand fell off, 1t is worth in
vestigating to determine whether Off
GERS and directors of national bank
should ever be allowed to loan {,
themselves. Trust companies shoul,
be subject to the same supervision al
banks"
Favorable consideration of a posta
savings bank is urged as an encour
agement to economy and thrift and t,
prevent boarding of money. The pres
emit time is cited as an Instance II