The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1907-03-21
"WE'VE LOST OUR HEADS"
In Wild Chase Of the Almighty Du!Iar,
Says President Of Pri 1ceton Col
Iese in Banquet Speech.

lie South Carolnians of New
York gave their first annual dinner
at the Waldolf-Astoria in that city
Monday night, with former. Secretary
of the Treasury Leslie NJ. Shaw. Pres
ident Woodrow Wilson of Princeton
and Judge Joseph A. Mccullough OF
South Carolina as the principal
speakers.
President Wilson had for mis- sub
ject, South Carolina's Most Famous
Statesman, John G. Calhoun and at
tel paying tribute to him, Mr. Wilson
discussed national matters. He said
iii part:
1T is interesting to note how often
progress is pushed to such a speed
and urged by such means 1nat the
peacc OF the country is threatened. It's
interests thrown into discord. Our
trouble At present is that the tariffs
and all special me ans Of stimulation
have been pursued too far and too
fast, to the destruction OF balance
and harmony in the social and ocono-
mic development of thu country. We
are obliged to acknowledge that we
have lost our heads in our pursuit
IF wealth and material prowess. Hav-
ing lost wise seli-possessicn in our
too eager progress, We are in dan
ger of losing it in our efforts to re-
iorm
I'VE have, by our own forgetfulless
CT the true principles of legislation,
created classes and put colossal inter-
ests at clash with one another.
The mere reform of the tariff is
not a sufficient, it is not even an in
teiligent program. The tariff is by
NO means the whole root OF she diff
Guilty, and is slow to change. Every
correction must be a. series ci ad-
justment or prudent Encouragement.
Moreover, We must be careful to deal
frankly and without favor with class
privilege OF all kinds.
There is another as formidable an
enemy 70 equality and freedom OF
opportunity as it, and that IS the class
formed by the labor organizations and
leaders OF the country, rep, esenting
only small minority of the laboring
men of the country, quite as monopo-
listic in spirit rs the capitalists, and
quite as apt to corrupt and ruin our
industries by their monopoly. If we
are to restore the purity of our laws
and The freedom of our life, we must
see to it-ill all moderation and lair
ncss-that 10 class whatever is given
artificial privilege or advantages"
Mr.. Shaw, in responding to the
toast THE United States took occa-
sion to refer to the railroad situation
saying, among other things:
There have been recently given
Cut number of pessiinistic inter
views, and on Thursday last, there oc-
CURED serious local panic, the re.
suit CT psychological, an1 not logical
causes. 1 ct it be understood that he
who invests his money in railroad
exteHsjon, or in railroad equipment
shall be as safe and as secure from
;ne renl:less ambition of the maripuIa-
tor on the other hand, ard the reckless
ambition CT the demagogue On the
other, as the man who elects to invest
in farm lands, town lots, mines, fac
tories o. forests.
LET the investor in railroads be
protected from management having
tor its cn'l manipulation. and from
government ownership or co1,fiscatior,
Eavlng for its enl political asgrandize-
nent. and tho money viii be forth
coming with which to double AMI
qjadruple track our railroads, as
needed