The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1907-12-31

we Ie ihfiled 10 rotlirfif Slnll we Join
~ tho sh@r vi the fight Of the admins.
tration for honesty and legality In busi
Ness ~ o youthful attempt al IN alleged
moral regeneration Of our business ays.
tomf No panic, however severe, can
mahc wrong right. No man who sin.
csrely believed the administration right
IN Ito measures to punish violations of
tbs law, can now bc turned from the
earnest support Of that policy today.
believe myself 10 be ~ conservative as
amy one within this company. believe
That IN personal liberty. the right
!oi personal property Ia the basis OF all
our material progressing the develop
ment of mankind and that any changes
In our social and political system which
impair the right Of private property and
materially diminishes the motive for
tho accumulation Of capital by thr In.
diyidual as blow at our whole civlli.
sation. But no one can have been an
observer Of tho operation Of the exer-
else Of The right Of property and the
accumulation Of capital and its use In
business by tlsc individual and the com.
bination Of capital by the combination
Of individuals without seeing that there
arc certain limitations upon the methods
In tho use Of capital and the exercise
Of thc right Of property that are indis.
prnsable 10 prevent the absolute con.
troll of the whole financial system Of
tho country passing 10 small oligarchy
of individuals.
"fhc combination OF capital is just as
essential to progress as the assembling
Of parts Of a machine; and hence, cor.
porations however large. are instruments
Of progress. But wbn they seek TO usc
tho mere size or amount Of the capital
which they control 10. monopolize the
business In which they are engaged and
To suppress competition by methods
akin TO duress, Tiny should bc restrain
al by law.
Again. am earnestly opposed to the
government ownership Of the interstate
railways that are the arterial system OF
this country. Those railways should
continue TO be managed by private cor.
pmation. Government Ownership Of
railways means state socialism, an in.
crease In the power OF the central gov.
crnmcnt that would bc dangerous. II
would be long step away from the
which II Ii necessary TO
retain In order TO make real progress
But no one could defend railway sys.
tcm In which the unlawful discrimua.
tions by secret rebates and otherwise
without limit in the interest
81 trusts and against the ordinary ship.
pcs. These abuses can only be reached
and ended by closely regulating the
railways and putting them under the
tribunal which can insist upon publicity
u business and In cases Of complaints
,an direct the remedy for the wrong,
III the abuse Of monopoly aud dis
cannot he hestminei. II
ihs concentration of power made pos,
'ible by such abuses continues and In.
,reases and II Is made manifest that
indcr the system OF individualism and
'rivatc property the tyranny and OPP
'ression Of an oligarchy Of wealth can.
lot be avoided. th,n socialism will
.riumph and the institution Of private
property will perish.
"1'he administration has been thus far
uccessful in showing that dangers from
can be effectively regu.
ated, and that abuses in the exercise of
'rivate property can BIO restrained.
'hus great conservative victory has
ccn won and the coming OF socialism
as been stayed.
The question which you have ulti.
lately to meet 10 not whether we shall
eturn to condition OF unregulated
always and unregulated trusts but 1t
! whether we shall maintaining strict
ystem on regulation of railways and
rusts or whether we shall turn the
,untry over to the advocates Of govern.
'ent ownership and state socialism.
my one who seeks ntrograde step
'om the policy OF the administration on
10 theory that 1t would be real step
ward conservatism is, blind to every
,lltical sign Of the times
II one attempt 10 fix the center Of
10 conservatism Of the country, he is
kelly to fix it in New England If hc
seeking the community where appeals
} Righteousness and Justice awaken
sponse, he will find II in New Eng
nd Hence, it Is that / have ventured /
this time and under the circumstances
have described to discuss the political