The National tribune., 1907-03-28
LIVE TOPICS.
Pears q to the Results Of Continued
Railroad Agitation Opinions Of the
Great Captains Of Iadustry-Increas-
Ing Tides Of Visitors Shaking Up the
Bureaus.

The railroad program, Of uppermos
interest in Washington a few days ago
has lapsed somewhat into the back
ground. AS far as its financial features
are concerned, however. 1t Is very mucf
in the Presidents mind.
Men who know the business world OF
New York have told the President that
the dangers of serious financial embar.
rassment have not passed. They say
that public confidence is more seriously
disturbed regarding values than it
has been for years. 1t Is recognized
that the factories are running at full
blast, and that industrially there seems
to be no let up the country over. But
this Is not certain sign that everything
is well. The indications of an indus.
trial depression will come first in the
cessation of various Improvements and
in the new ventures.
The wiseacres say that the trouble Is
confined to Wall Street, and that the
country no longer cares what troubles
Wall Street gamblers may be under
going. all of which is more or less true
But If Wall Street troubles reach a GER
tain acute stage, provided these trou-
Dies are provoked Dy cOnultlOnS In the
country, there is danger.
That is what the President and Sec
rotary COrtelyou fear The Treasury
Department has already done what II
could, probably all 1t can. for the relief
of the money market. Secretary Cor
telyou went to the limit on that panic
day Of March IA. But all he did, SO
the financiers say. has had little effect
The market keeps sagging. The severe
days recur, and all the time stocks go
down little lower. Reports are heard
that failures are imminent.
The helplessness Of the Administra-
ton to aid further probably contributes
to the Preident's uneasiness. When the
market has had a bad storm to weather
1t has been in the habit of appealing to
Washington, and Washington has been
able to throw a life line. Should there
come another storm-well, the Presi-
dent hopes there will be none, and he
is a very lucky man.
However. the papers are full of dis
quieting news. There Is hardly an issue
that does not have something about a
railroad system curtailing its construc-
ton work, stopping improvements
somewhere or turning loose some of its
employees. These are the ominous signs,
for they demonstrate the unwillingness
Of the public to further purchase rail-
Aodu SCSulIticS, III WHICH, HOucy IS
raised to double-track roads, build new
lines and furnish more rolling stock.
1t Is because Of this ticklish situation,
which may give way soon TO steadier
and more settled conditions, that the
President is keeping very quiet at the
White House. He does not want to
talk about railroads or about finance.
He does not want to encourage the pres
ent agitation. II he remains silent
Luz 10 frvy mil oo1r
an even keel sooner. When that hap
pens he can agitate for more railroad
reforms.
Visits Of Railroad Magnates.
Therefore, when the President in
vites one to the White House these days
to talk about the railroad program
hardly a word of 1t reaches the public.
The President will not talk about 1t
himself. As a rule his visitors are too
cautious to do so. For to visit the
White House and to go away and talk
about the visit is to incur the Presi-
dents displeasure. He Is very angry
with some of the big men who have
gone away and told their own versions
of the situation. In fact, there Is hard
ly anything that enrages the President
more than for the people who talk with
him to attempt to tell the public what
he has said.
To meet this he has resorted to some
very drastic measures at times. He re-
Gently allowed 1t to become known that
no report Of what he intended to do
toward railroad legislation could be de-
pended upon till he himself had spoken
in formal way, by message or in a
formal speech, and taken the public
into his confidence. He promises to do
that as soon as he has reached any
of Importance. Probably he
will speak on railroads at the opening
of the jamestown Exposition in April.
While the President has often sought
the advice of prominent men in the
railroad and financial world, he by no
means always follows 1t. 1t was not
many years ago that he asked ]. Pier
pont Morgan to come to see him and
the magnate came. He was asked for
his opinion along certain lines that the
President was considering and gave it.