New-York tribune., 1907-12-08
PARIS AND PRESIDENT
UH4TISSAID OF MESSAGE
Restriction of Trusts-Canse OF the
Monetary Crisis.
Especial by French Gable to The tribune

fCopyrisht 1907 by The Tribune Associationj
Paris. Dec. 7.-President Roosevelts message
is widely discussed here and elicits the opihio
throughout France that the United States IS
about to enter upon what is described ps ''''
conservative Republican organ, lie Temps, as
a policy of Imperialism in industrial economy
and finance that will have a great and' on 'I'e
whole beneficial effect upon the rest or the
world The Paris and the provincial papers
without execution express the conviction tha'
Mr. Roosevelt has az his hack the great MASSES
of the American people. NEUTRALITY-SUSPICIOUS. 'iie
violent hostility OF important financial groups
In the Eastern states.
The general feeling here which is eNp'eS9e
by the journal des Debats," is that the FFe7
ident's plan of discriminating between sooo
trusts and bad trusts by restricting the opera
tions of the latter and at the same time accolu-
ing the necessary freedom of action TO the lo' :
mer will be almost impossible TO put into prac-
teal execution because It engages the federal
government In maze of responsibilities an"
requires the most complicated legislation
The opinions of the leading Paris pSihhefs a'e
that the most efficacious measure TO prevent the
racurrence of n crisis in the United states ls
NOT SO much the increase of monetary circula-
-Ion as the restriction of Industrial and specu-
latfve enterprise the artificial imitation OF wh1ch
is regarded here as the primary cause OF 'ho
present situation There is enthusiastic aotiifa
ton here for the Presidents pluck ana Ha'ih .
ness in denounclng the participation Oh iiha"
caI institutions in contributing to eiecuoneei
inc funds all the more so as the French papers
find that Mr. Roosevelts own supporters ha'0
been the principal offenders in this respect
The Presidents message has also been ois
cussed at the meeting of the Paris society VI
Political Economy Paul Leroy Beaulieu offct-
aJav, ,6fy q
economist read a paper IN which he attributed
,ba MONETARY crisis TO TOO close connections be-
tween the federal government and the sioch
exchanges and pointed out that the vast ex-
tent of territory and the great variety or IN
tarasts had given rise 70 great differences III
the rates OF interest in the seVerai sla'eS'
which made the creation Of central hatioii''
hank almost impracticable- NcNertheless' III III
spite OF local pretudices. the establishments ~
such q bank he considered the best possible
solution.
Another paper was read by NJ. HeideioSch'
who declared the most urgent measure just HOW
was rigid economy and said that II every
sr,arioan citizen put aside 50 during the year
this would amount 10 nearly Sfooo'V'o""' "'N
tf tho s510ooaOOO Of output from the Amerl-
car poId mines were added 10 this, the caplta'
thus reconstructed would be nearly a thousand
millions, which would keep business going u'''ii
affairs resumed their natural course.
The opinion in financial circles Is 'ha' 'i'o
worst of the crisis IS now over. ana yesterday
several bankers invested in United States rail-
road bonds and shares at par
The portion OF the Presidents message con-
earning finance is almost exclusively dwest
upon. but the Temps" the "Debats. the FIG
arc" and the Echo de Paris express the opin-
ion that the plan OF transferring the battleship
feet from the Atlantic to the Pacific every TWO
or three years is the best possible scheme that
could be devised for keeping the United states
navy in a really effective fighting condition
3