The Idaho Springs siftings-news., 1907-08-24

that a jury which will gladly punish a
corporation by fine. for instance. will
acQuit the individual members of that
corporation IL we proceed against them
criminally, because OF those very
things which the corporation which
they direct and control has done. In
a recent case against the licorice trust
We indicted and tried the two corpora
ticns and their respective presidents.
The contracts and other transactions
establishing the guilt Of the corpora
lions were made through. and SO far
as they were in writing were signed
by. the two presidents. Yet the jury
convicted the two corporations and ac-
quilted the two men. Both verdicts
could not possibly have been correct;
but apparently the average juryman
wishes to see trusts broken up and is
quite ready to fine the corporation it.
self but is very reluctant to find the
! facts proven beyond a reasonable
doubt" when 1t comes to sending to
Jail a reputable member of the busi-
ness community for doing what the
business community has unhappily
grown to recognize as well nigh nor
NAL in business. Moreover, under the
necessary technicalities OF criminal
proceedings often the only man who
can be reached criminally will be some
subordinate who is not the real guilty
party at all.
Punishment Of Predatory Rich.
Many men OF large wealth have been
guilty of conduct which from the moral
standpoint is criminal, and their mis-
deeds are to peculiar degree repre-
hensible because those committing
t1r, <.f
erty. Of weakness and ignorance to
offer as partial atonement. When in
addition to moral responsibility, these
men have a legal responsibility which
can be proved so as to impress a Judge
and jury. then the department will
strain ever nerve to reach them crimi
nally. Where this is impossible. then
it will take whatever action will be
most effective under the actual con-
d'tions.
In the last six years we have shown
that there is no individual and no cor
poration so powerful that he or it
stands above the possibility of punish
ment under the law.
During the present trouble with the
stock market. l have. of course. re-
ceived countless requests and sugges-
tions. public and private. that should
say or do something to ease the situa-
ton. There is world wide financial
disturbance. 1t is felt in the bourses
OF Paris and Berlin and British con-
soils are lower, while prices OF railway
securities have also deprecated. On
the New York Stock Exchange the dis
turbance has been particularly severe
most OF it believe to be due to mat
ters not particularly confined to the
United States and to matters wholly
unconnected with any government ac
tion. but It may well be that the de-
termination Of the government in
which, gentlemen, it will not waver. to
punish certain malefactors OF great
wealth, has been responsible for some
thing OF the troubles, at least to the
extent Of having caused these men to
combine to bring about as much finan-
cial distress as they possibly can in
order to discredit the policy of the
government and thereby to secure
reversal of that policy so that they
may enjoy the fruits OF their own evil
doings.
Ihat they have misled a good many
people into believing that there should
be such reversal of policy is possible.
II SO. I am sorry, but it will not alter
my attitude. Once for all, let me say
that, as far as l am concerned.
and for .-.e eighteen months of
my administration that remain, there
Will be no change in the policy we
have steadily pursued, nor let I'D in the
EFFORT to secure the honest. observance
of the law, for l regard this contest as
one to determine who shall rule this
government-the people through their
governmental agents, or a few ruthless
and determined men whose wealth
makes them particularly formidable
because they are behind the breast
works OF corporate organization
l 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 emphaticaily to have
II understood that we have undertaken,
and will undertake, no action OF vim
dtctive type, and above all no action
which shall infiict great or unmerited
suffering upon the innocent stockhold-
ers and upon the public as a whole.
Our purpose Is to act with the mini
mum of harshness compatible with OBJ
tanning our ends.
In the man OF great wealth who has
earned his wealth honestly and used 1t
wisely we recognize a good citizen
worthy of all praise and respect. Busi-
ness can only be done under modern
conditions through corporations, and
our purpose is to heartily favor the cor
porations that do well. The admins
tration appreciates that liberal but hon
est profit for legitimate promoters and
generous dividends for capital en-
ployed either In founding or continuing
an honest venture are the factors nee
essary for successful corporate activity
and therefore for generally prosperous
business conditions
All these are compatible with fair
deal1ng as between man and man. and
rigid obedience to the law. Our aim
is to help every honest man. everv hon
est corporation, and our policy means
In its ultimate analysis a prosperous