The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-04-02
ROOSEVELT ON
THE RAILROADS
President Writes Letter in
Which He Declares His PO-
Sition Is Unchanged.
BELIEVES IN SUPERVISION
GREATER POWERS FOR CON-
MERGE EMISSION.

Washington, April President
Roosevelt has decided not TO accept the
invitation of the Illinois Manufacture
ers' association to deliver a speech at
Springfield. ILL.,, on the railroad situa7
ton. He addressed a letter yesterday
10 G.. b. Smith, president of the asso-
eiafion. stating that it would be i'm
Y1ossibIa for him 20 accept their invita-
zion extended last week because he did
not feel that he had anything to say
AT this time i'm a special address on this
special subject.
The president has received a great
number Of requests for a statement by
him. or a speech TO be made by him in
connection with the railway situation.
He has given these requests the utmost
weight and most careful consideration.
After fully looking into the matter the
president informed his advisers that he
hal come to the conclusion that there
was nothing now further he had to say
at this moment on the railway situa-
ton. that he did not deem it either
wise or proper to say anything with a
view to any immediate situation in
Wall street. and that he could only give
expression to the definite and settled
policy to be carried out wholly without
regard to the eXigencies of the moment,
and as his views on the policy in cues
ion were already a mater Of record, it
did not seem necessary at this time to
repeat them
VIII Not Deviatc.
To the different men, friendly and
nfriendly. who have visited him or
written IL him. he has answered YER
baIly or i'm writing that his words ami
acts spoke for themselves and needed
ua explanations whatever, and that he
would not in his future course deviate
one hairs bradth from the course he
has pursued in the past and was now
pursuing.
The statement was made from an
authoritative source today that even
most cursory examination of what
the president has repeatedly said in
speeches and in message viii show the
utter nonsense of suppOSing the gov
erHment has the slightest intention to
take any action which would invaH-
date the safety and stability of the
railway securities now issued, the
whole legislative program OF the pres
iaent having been proclaimed again
and again is one to insure the future
against the mistakes and delinquencies
of the past. The president holds that
every executive action taken under his
administration, whether by the depart
menU of justice or BY the interstate
commerce commission, has furnished
its own ample justification.
Il was pointed out today in admins
tratiVe circles that the president has
made 10 reference ia his speeches or
messages 10 the question Of the ply
steal valuation of railroads. This Do
sition, il was said is that the roads
themselves Will work out this problem
as an item of bookkeeping, and refer
ence was made to the fact that two
reads. the Northern Pacific and the
Great Nothern. already have submit
ted figures as to their physical Valua-
tion.
capitalization.
1t can be stated on authority that the
president will again ask congress at its
next session for power to deal with
thu question of OVeT-capitslizatiOn of
railroads a similar request was made
st the last session, but favora BILE ac-
ton was not taken upon it.
II his letter to Mr.. Smith. the presi-
dent enclosed copies of the speech"
ne made AT Raleigh. Y. &, Oct 70, 1905.
and the one he delivered before a dele
cation of railway employees in this city
on Nov. IA, 1905, together with his
last messag e toNcongress at the begin
ming of the first and second sessions
Of the last congress. The president
concludes his letter to Mr.. Smith as
follows.
You VIII see IN the Two speeches
ana the two messages that l have said
about all that I would say If I spoke
now. As I said TO your body the other
day, / have already expressed again
and again my carefully thought out
beliefs. I am more firmly than ever
convinced that these beliefs are wise
and that the policy I recommended in
my message AT the opening of each of
the last regular sessions of congress
must be carried out Just at the mo-
ment I do not see that 1 have much to
add 10 what I have already said, and /
think that what has occurred since ]
wrote the two messages in question
merely illustrates in striking fashion
the desirability of the course l therein
outlined
These portions of his speeches and