The Penn's Grove record., 1907-08-23
ROOSEVELT OENOUNCES
rich MANS CONSPIRACY
Warns "UnffiendIy interests" in
Speech at ProvincetoWn.
FIGHTS LAWBREAkERs ONLY
Contest is Now On, He Declares, to
Determine WHO Shall Rule-Im.
mense Fortunes Invested in Bust
ness Need Curbing.

AAANhoS OSkOu IA AJtDA@
ness Need Curbing.
Provincetown, Mass. = Before a
gathering of 10000 persons, who
filled the old fishing village to over
flowing, President Roosevelt dis
cussed questions of the hour. His
presence was due to the laying of the
cornerstone of the monument to
commemorate the landing of the Pill
grims on New England soil.
The President arrived on the May
flower at 10 o'clock a. M, and vas
greeted with a salute from the assem-
bled warships. AS the President
landed a committee composed of
Governor Guild of Massachusetts, the
president of the Pilgrim Society, and
the chairman of the Selectmen of
Provincetown, met him at the pier
and formally welcomed him to Massa-
chusetts. The carriages carrying
these officers, members Of the Presi-
dents family and of the committee,
formed a procession and drove d.
rectly to the hill where the ceremo-
mics attendant upon the laying of the
cornerstone of the monument were
held.
Prayer opened the exercises at the
monument, followed by brief Masonic
ceremonies. The president of the
Pilgrim Society thereupon introduced
the Governor, who in turn introduced
the President.
James Bryce, British Ambassador,
was on the program, and followed the
President with an address, as did
also Senator Henry Cabot Lodge and
Representative William c. Lowering.
President Roosevelt in his address
asserted his belief that the "particu-
larly severe" disturbance on the New
York Stock Exchange was for the
most part "due to matters not particu-
larly confined to the United States
and to matters wholly unconnected
with any Governmental action" The
startling feature of this portion of
the speech was, however, his sugges-
ton of another "rich mems con-
spiracy" contained in this declara-
ton:
ut may we'll be that the determin-
alton of the Government, in which,
gentlemen, it will not waver, to pun
ish certain m~alefactors of great
wealth has been responsible for some
thing Of the troubles, at least to the
extent of having caused these men to
combine to bring about as much
financial stress as they possibly can
in order to discredit the policy Of the
Government and thereby to secure a
reversal of that policy so that they
may enjoy the fruits of their own
evil doings."
He asserted that it is necessary
to exercise a far more efficient con
troll than at present over the business
use of those vast fortunes, chiefly
corporate, which are used in inser-
state business" State action, he
declared, could not produce whole
some results" and he advocated ma
tional incorporation for corporations
engaged in interstate commerce
avowing that the most pressing need
IA for a more complete control by
the Federal Government over the
railroads under the interstate com
merce clause, and, if necessary, under
the post road clause of the Constitu-
ton"
The President spoke of the inter.
0IdIS COI1L1CICC law anu tue dlLl
trust law as experiments which had
disclosed the necessity of improve
ment or modification. He went a
length into the difficulties of convict.
ing individuals for violations of bust
ness regulation enactments compared
with the relative ease of procuring
verdicts against corporations, but as
serted that the administration pro
posed to punish rich men wherever
prosecutions looked promising. He
also took occasion to advocate once
more a national employers liability
law of increased extent and strin.
gency.
President Roosevelt spoke for forty
minutes. His entire speech was one
of vigor and directness and on mat
tiers of national Importance.
In the following unequivocal Ian
guage the President answered the
law-defying corporations which have
been creating Wall Street "panics
ard through their special agencie.
have been attempting to make it ap
pear that the prosecution of monopo
lies is hurting business and under.
mining the Nations prosperity:
During the present trouble with
the stock market 1 have, If course
received countless requests and sug
gestions, public and private, that
should say or do something to east
the situation. There is a worldwide
financial disturbance. 1t is felt il
the bourses of Paris and Berlin, anG
British consols are lower than for {
generation, while British railway Sc
curities have also deprecated. Or
the New York Stock Exchange The
disturbance has been peculiarly Sc
we're.
Most of it l believe to be due tt
matters not peculiar to the United
States, and the most of the remainder
to matters wholly unconnecte6 with
any G,vernmontal action; but it may
well be that the determination of the
Government, in which, gentlemen, i
will not waver, to punish certain NAL
efactors of great wealth has been re.
sponsible for something of the trou.
Bile, l believe to the extent If having