Semi-weekly herald., 1907-12-05

To the Senate and House of Repre-
sentatives:
No nation has greater resources
than ours, and think it can be truth
fully said that the citizens of no ma
lion possess greater energy and in.
dustrial ability. In no nation are
the fundamental business conditions
sounder than in ours at this very mo.
ment and it is foolish, when such is
the case, for people to hoard money
instead OF keeping 1t in sound banks
for IL is such boarding that is the i'm
mediate occasion of money stringency
Moreover. as rule. the business OF
our people is conducted with honesty
and probity, and this applies alike to
farms aad factories. to railroads and
banks. to all our Legitimate CONNER
cial enterprises.
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. Where these men are
business men of great sagacity and
Of temperament both inscriptions
ard reckless and where the conditions
are such that they act without super
vision or control and at first without
effective check from public opinion
they deude many innocent people in
TO making investments or embarkins
IL. kinds of business that are really
unsound When the misdeeds of these
successfully dishonest men are discov-
cred, suffering comes not only upon
hem. but upon the innocent men
@hom they have misled. 1t is pain
full awakening whenever it occurs;
and. naturally. when it does occur
those who suffer are apt to forget
that the longer it was deferred the
more painful it would be. In the eff
fort to punish the guilty it is both wise
and proper to endeavor so far as DOS
sible to minimize the distress of those
who have been misled by the guilty.
Yet 1t is not possible to refrain be.
cause of such distress from STRIVING
10 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 responsible
for them. There may be honest diff
ferences of opinion as to many gov
ernmental policies; but surely there
can be no such differences as to the
need of unfinchirg perseverance in
the war against successful dishonesty
In my message to the congress on
December 5. 1905, said:
IF the folly of man mars the gen.
eral well-being. then those who are
innocent OF the folly will have to pay
part of the penalty incurred by those
who are guilty of the folly. A panic
brought on by the speculative folly
o: part OF the business community
would hurt the whole business com
raunity; but such stoppage Of vel
fare. though it might be severe. would
not be lasting. In the long run, the
one vital factor in the permanent pros
perity of the country is the high in
dividual character of the average
American worker, the average Ameri
can citizen, no matter whether his
work be mental or manual. whether
he be farmer or wage-worker, business
man or professional man.
I'm our industrial and social sys-
tenn the interests OF all men are so
closely intertwined that in the i'm
mense majority Of cases straight
dealing man, who by his efficiency. by
his ingenuity and industry benefits
himself. must also benefit others
Normally, the man of great productive
capacity who becomes ricn by guiding
The labor of many other men does so
by enabling them to produce more
than they could produce without his
In the benefit, which comes also to
the public at large The superficial
fact that the sharing may be unequal
must never blind MS TO the underly
ing fact that there is this sharing
and that the benefit comes in some de
:, gree to each man concerned. Normal
ly. the wage-worker, the man of small
means, and the average consumer, as
well as the average producer. are all
alike helped by making conditions
such that the man of exceptional bust
ness ability receives an exceptiona
reward for his ability. Something car
he done by Legislation to help TIL,
general prosperity; but no such hell