Connecticut western news., 1907-08-22
PRESIDENT DEF|ANT I
Will Not Waver, He Says, In War
 on Rich MaIefactorS.
UNMOVED BY STOCK SLUMP.
Thinks It Was Engineered by Certain Interests to Discredit the Administra- tion's PoIicy-DecIares He Is Fight ing For the Peoples Rights.

Provincetown, Mass, Aug. 21. = President Roosevelt, in his address at the laying of the cornerstone of the Pilgrims monument, asserted with emphasis that he would not waver in his determination ito punish certain malefactors of great wealth."
 ''Once for all, let me say that, as faI as I am concerned and for the eight. cen months of my administration that remains, there will be no change in the policy we have steadily pursued" de elared President Roosevelt mo let up in the effort to secure the honest ob- 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 particular ly formidable because they hide be- hind the breastwork of corporate or ganization."
 "I Stand Pat."
 This utterance was almost savage in Its deliberateness and was emphasized, period by period, with a blow with his clinched fist on the pine board which served as a desk. Leaning forward and turning from side to side so that his words could be heard and their full significance appreciated, he exclaimed: ''I want to say as to desirable and un- desirable citizens that the same re- ire, 4r.,,o spoken; stand pat.'
 Referring to conditions in Wall street he said:
 During the present trouble with the stock market I have, of course, re- ceived countless requests and sugges- tions, public and private, that should say or do something to ease financial disturbance. It Is felt in the bourses of Paris and Berlin. and Brit ish consols are lower, while prices of railway securities have also depreci- ated."
 sls BIames Wall Street.
 "On the New York stock exchange the disturbance has been particularly
 
 to matters not particularly confined to the United States and to matters wholly unconnected with any govern mental action, but it may we'll be that the determination of the government, in which gentlemen, 1t will not waver, to punish certain malefactors of great wealth, has been responsible for some h ir,c of thn frsoy1 ot n,f +0 Hn extent of having caused these men to combine to bring about as much finan- cial stress as they possibly can in order to discredit the policy of the government and thereby secure a re- versal of that policy so that they may enjoy the fruits of their own evil doing. That they have misled many good people into believing that there should be such reversal of policy is possible.
 If so I am sorry, but it will not alter my attitude.
 T wish there to be no mistake on this point. It is idle to ask me not to prosecute criminals, rich or poor.
 No Action of yindictive Type.
 But I desire no less emphatically to have it understood that we have un dertaken and will undertake no action of a vindictive type and above all nc action which shall infiict great or un merited suffering upon the innocent stockholders and upon the public as g whole. 7. Our purpose is to act with the mini mum of harshness compatible with ob taining our ends. In the man of grea wealth who has earned his wealtf honestly and used 1t wisely we recog nize good citizen worthy of all praise and respect
 Business can only be done under modern conditions through corpora tiOns, and our purpose is to hearth, favor the corporations that do we'll
 '"The administration appreciates tha liberal but honest profit for legitimat; promoters and generous dividends fo capital employed either in founding O continuing an honest business ventur, are the factors necessary for success full corporate activity and therefore fo generally prosperous business condi tioDs.
 "All these are compatible with fai dealing as between man and man an, rigid obedience to the law. Our ain is to help every honest man, ever. honest corporation, and our polio, means in it's ultimate analysis healthy and prosperous expansion o business activities, of honest bushes men and honest corporations. 
 To Proceed criminaIIy.
 Many men of large wealth hay been guilty of conduct which from tn moral standpoint is criminal, and thei misdeeds are to a peculiar degree reI rehensible because those committin them have no excuse of want, of poy erty, of weakness and ignorance t offer as partial atonement When i addition to moral responsibility thes men have legal responsibility whic can be proved so as to impress a judg and jury then the department wi strain every nerve to reach them erin 1na1ly.
 Where this is impossible then it wi