New-York tribune., 1907-11-01
ROOSEVELT POLICY 0. K
Henry CIc7cs Tells Nc5o Harcn
CIub Presidents Course Is Proper.
IRy Telesraph t. Tho TrIbane. J


New Haven oct. sI-President Roosevelt was
alternately eulogized and criticised at the annual
dinner OF the New Haven Economic Club tonight
in IA discussion OF is President RooseyeIJ's FL
uaucia! Policy Sound Henry CleNs. of New
York city, who made the first speech. defended
the President. predicting that, unless tho control
the money power broken IN this country, IL
would fail Ike the cities OF Sodom and GoWorrrh
and the Roman Empire. John W. Alling one OF
the abcst lawyers N New England. accused the
President OF bringing on the financial disturbance
OF last week and OF Gripping tho railroads OF the
country 10y his rate reduction crusade.
President Roosevelts policy OF turning the light
upon graft and illegal business methods was COM
that trusts, railways and the corporations were
guilty Of violations OF tho law, he cOntoHded that
they. and not the President. were responsible FOR
the ensuing consequences. lie said, IN part:
l glad have the opportunity to address
Of IND old Yale. and vii beriT nv ' expretsina,
the United States who sincerely questions the hon
esty of Theodore ROoscvelts motives Whatever
he has done he has done to promote the public
good and the nations wellalt. whether his speeches
honest man. and an honest is said to be tho
noblest work OF God But. OF course can
may sometimes make mistakes in their judgment
You ask the question: Is President Roosevolt's )
policy toward capital sound? In other words. has
Of law breaking railway corporations and indus
tTia! trusts me1actd dhe brosp9tTiy OF the Goun-
for while he was instrumental IN turning, on tho
pow er That the light reyealed and It is the rcyeIa
ton Of graft and Illegal methods on the part OF
certain railway ana otHtT corPorhuonS' through
the acts OF their responsible managers and con-
trolling capitalists, that has undermined public
confidence In many of them
II is. OF course, greatly be deplored that some
riiIroad compsnies have abused the trust rSposed
in them. and made It imperatiye for the President
ment 10 Investigate their doings, and prosecute
using their corporate powers to DO Illegal acts,
like rebating and such chicanery as that of the
Chicago & Alton reorganiziton The fact that
in nearly every such Instance of government prose
proved on their trial justihes President Roosevelt
was necessary TO insure a square deal for all; Mr..
Roosevelt is not attacking capital but he is at
misused their power and position to do Illegal acts
deHce 1 receved blow after blow from his source
before getting another rude shock through tho
ties investigation ana the action Of the New York
Clearing House with regard to the Hcinze and
When all the old evils have been exposed and
vestors again seek investments for their funds in
our securities, We may rest assured that having
upon a1a9'sS"i as the 5'f best in the World ~ ' '
AM hat Ho f3T the baTn troubles busnaes fa
ures and losses that have been made I'm the stock
the Executive in office bears the brunt of what
ever disasters OF the kind occur during his ad-
ministration
In attacking Mr Roosevelt's policies Mr.. Aung
said:
Mr.. Roosevelt IS immensely popular. with tho
masses So were the leaders Of the old Crusades
against the unspeakable Turk Mr. Roosevelt il
essentially like those old Crusade eaders-powerful,
arrogant conCeited with n halo of heavenly in
spiration, a born leader. bound by no party ties,
himself the whole thing" in search OF valiant
deeds claiming a supernatural power TO detect ana
uncover and punish the wealthy malefactor.' Fol
lowed as ne thinks, by the whole people he is the
most dangerous TO constitutional liberty that
has ever existed in this country The financial
panic calls for an opinion as 20 how far my
policies are responsible for II; There is no panic
nor likely to be any, in any other country that the
United States Under state rate making New Eh6,
land manufacturing will slowly but surely be wiped
out President Roosevelt is alone responsive Tor
raising this railroad rate question: -.--. =.
Now what has been the result? II is paIemt en-, 70
everybody. From the instant IL appeared likely
tbe+ ne mower to AK rates was 10 be taken from
the railroads and put into the hands of commission
ers in the interest OF the shippers, commissioners
every one of whom could be removed az once oy MI
Roosevelt FOR what he might deem ineHlClehcy or
neglect - the value OF railroad properties began TO
decline and their credit 10 disappear
Other speakers were John ". Agar and Edward
r. whitney New York City lawyers. Colonel Nor
ris G. Osborne president of the club presided