The Republican journal. [volume] (Belfast, Me.) 1829-current, 1907-11-07
THE NEW YORK PANIC.

IL - perhaps SIlll d mOOCeu question:
as to whether President Roosevelt was
or was not responsible for the recent
revolution in Wall street. Assuming
that he was, he has been both praised
and censured, and on the whole there
has been more praise than censure.
| While innocent individuals have suf-
fered, the public generally and the
country as whole have benefited by
knocking down Wall streets house of
cards. 1t has, moreover, demonstrated
the financial soundness and the pros
perity of the country generally. New
York is no longer the financial center.
The west is no longer covered with
eastern mortgages. There is no longer
demand from the south and west for
money to move crops. The west is
lending money to the east now, and
both the south and west have abun-
dant financial resources of their own.
Hence the disturbance in Wall street,
,, which once would have created panic
all over the country, was not felt else
where to ali appreciate extent, and the
multi-millionaires of New York, for
their own protection, came to the
rescue to avert financial disaster at
home. AS to the presidents response
bility in the matter, the question, els
the policy of President Roosevelt
toward capital sound?" was recently
discussed in New Haven by an organi-
cation of business men, and Henry
Clews, the veteran New York banker,
took the affirmative, maintaining that
Mr.. Roosevelt's policy toward capital
is sound when it is understood, and
that he can no more be blamed for the
recent financial panic than he can be
credited with all the prosperity which
dition, continued the speaker, was
brought about by the greed, corrupt
ness and gross dishonesty of many men
who were the powers in the admins
tration of great corporations. The dis
closures of their methods of wholesale
graft" came as bolt after President
I Roosevelt had thrown light upon the
! financial condition of the country. The
wedding out of these dishonest men
will continue until corporations are ad-
ministered for the benefit of their
stockholders and until those who have
put their trust in the corporations re-
ceive their just dues. The present
revelations which have astounded the
public will raise the standard of morals
and will prove that the law which pun
ishes poor man for crime and sends
| him to jail is just as effective against
not been guided by honest methods.
president Roosevelt has taken guild
ance of the constitution and has said
that the law shall be enforced, and the
results have justified all he has done"
The town of Windsor presents itself
to the world in very enviable light
Since the year 1907 commenced there
has not been an arrest for drunkenness,
and only two cases have been up before
the Justice of the Peace, and these were
for assault and battery, by youngsters
in squabble. If any other towns of
its size or larger iii the Province can
make such good showing, we should
like to hear from them.-The Hants
Journal, Windsor, Nova Scotia.
Windsor has prohibition under what
is known as the Scott act.
Graft exists everywhere" says Sena-
| tor La Toilette. That is true Readers
of the magazines are astounded at the
revelations concerning the magnitude
of the grating in the large cities; but
if affairs in the smaller places were
| looked into it would be found that the
graft was as large, if not larger, in pro-
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