The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1907-08-21
BLUFF W|LLNOT WORK
Prosecutions to Continue Despite
Manipulation Of Markets.
PRESIDENT WILL NOT WAIVER
Declares That The Policy He Has
Pursued Is to Be Carried Out in
Efforts to Secure the Honest OBJ
servance of the Law.

SSTsdHCc OF Ine Law.
Provincetown, Mass, Aug. 21.-The
laying Of the cornerstone of the Cape
Cod Pilgrim memorial monument in
the presence of President Roosevelt
Governor Guild and distinguished
guests completed the foundation OF
one of the most imposing structures
along the Atlantic coast, commemorat-
ing the first landing within few feet
OF its base of the Pilgrim fathers.
President Roosevelt addressed a
large crowd at the unveiling and
spoke at length upon the great debt
the country owes the Puritans. He
then turned his attention to the cor
poration evil of the present day and
said in part:
During the present trouble with the
stock market have of course received
countless requests and suggestions,
public and private, that | should say
or do something to ease the situation.
There is a worldwide financial disturb
ance. II is felt In the bourses of Paris
and Berlin and British consols are low
er while prices of railway securities
have also depreciated On the New
York Stock Exchange the disturbance
has been particularly severe. Most
of it is believed to be due to matters
not particularly confined to the United
States and to matters wholly uncon-
nected with any governmental action,
but it may be well that the determina-
tion of the government in which, gen.
tlemen. it will not waver. to punish
certain malefactors of great wealth
has been responsible for some Of the
troubles, at least to the extent of hav-
ing caused these men to combine to
bring about as much financial stress
as they possibly can In order to dis
credit the policy of the government
and thereby to secure a reversal of
that policy so that they may enjoy the
fruits of their evil doings. That they
have misled many good people into
believing that there should be such
reversal Of policy is possible. II so
! am sorry, but it
Will Not Alter My Attitude.
Once for all let me say that as far
AS | am concerned and for the
eighteen months of my administration
that remains, there will be no change
in the policy we have steadily pursued,
no let up in the efforts to secure the
honest observance of the law, for re-
gard this contest as one to determine
u,bn chn1l ryln this onu ary,n t--tha
people through their governmental
agents or a few ruthless and deter
mined men, whose wealth makes them
particularly formidable because they
are behind the breastworks Of corpor-
ate organization.
Il wish there to be no mistake on
this point 1t is idle to ask me not
to prosecute criminals, rich or poor
But desire no less emphatically to
have it understood that we have un-
dertaken and will undertake no ac-
tion of vindictive type and above all
no action which shall inflict great or
unmerited suffering upon the innocent
stockholders and upon the public as
whole. Our purpose Is to act with
with obtaining our ends. In the man
of great wealth who has earned his
wealth honestly and used 1t wisely
we recognize good citizen, worthy OF
all praise and respect. Business can
only be done under modern conditions
through corporations and our purpose
is to heartily favor the corporations
that do we'll The administration ap-
preciates that liberal but honest profit
for legitimate promoters and generous
dividends for capital employed either
IN founding or continuing an honest
business are the factors necessary for
successful corporate activity and
therefore for generally prosperous
business conditions.
All these are compatible with fair
dealing as between man and man and
rigid obedience to the law. Our aim
is to help every honest man; every
honest corporation: and our policy
means in its ultimate analysis heal
thy and prosperous expansion OF bust
ness activities, Of honest business
nlen and honest corporations"