Los Angeles herald., 1907-09-22
WALL STREET
IS BUFFER
TRIES TO FORCE RoosEvELT's
HAND
TENDER EuLoGY PAID BEN
WARDS MEMORY
City Club Guests and Members Hear
Eloquent peeches-FInancIaI Jug
oilers Scored .sar Threats to
Create Hard Tines

Two impressive speeches were delivered
yesterday before the City club at West
minister hotel.
Judge John d. Works paid a tribute
to the late Ben Ward as county asses
sor who did his duty unf1inchingly, while
Judge Thomas e. Gibbon. who was called
on unexpectedly drew a lesson from
the careers of Ben Ward and President
Roosevelt as showing that the people
stood by policy of law enforcement.
Judge Works paid tender eulogy
to Ward, and in ooing so called atten-
tion to the fact that often good officials
got faint praise, while most office holders
in taking office usually brought suspicion
on themselves rightly or wrongly.
The club unanimously thanked the
speaker and by resolution indorsed the
sentiments expressed towards the late
assessor as those of the club.
In response to the invitation of Presi-
dent Lee Gates for further remarks and
calls for "Gibbon," Judge Gibbon arose
and said:
Blind to Moral Wrong
'I had come to listen to the tribute
Judge Works paid an official whom ad-
mired profoundly, but since 1 am on my
IeeL L WOulQ lihS " soy q low WOhoo
in line with ideas touched on by the
speaker who preceded me.
'There exists today in the minds of some
men-of many men-a double standard in
regard to the principles of honesty ap-
piled to public and private office.
'I and you know men who in their per-
sonal transactions and relations would
not touch dime that did not belong to
them.
"Yet these men in dealing with pub
lie funds seem to conceive that there
is no moral wrong in getting money that
is contributed for public service or legally
getting money that is not morally theirs
or their clients.
'"They will do this on behalf of corr
porations, not for themselves.
There are bankers giving honest and
fair returns for all funds entrusted to
them yet in order to pervent payment
for government of whose protection they
enjoy a large share they will resort to
subterfuge.
Flags Tax Dodgers
"They will consent to the transfer of
funds to non-taxable investments before
assessment time comes around and to the
restoration of these same funds to their
old standard afterwards.
THAT is done every day by men who
would not take dime from anybody.
1--WE need to have the individual con-
science quickened
mo man more Than the president of
this country has done more to bring
about this quickening (applause).
There Is no question that the coun-
try is under a profound debt to Presi-
dent Roosevelt for having shown to all
that a high moral responsibility rests
on the corporations and moneyed in
terests.
| ST have had something to do with
| corporations for many years, and have
never permitted them in my capacity as
counsel to violate any law.
Work Against Reform
'I have, however, known of circum-
stances in corporations where a lack of
moral appreciation of the responsibilities
of corporations toward the government
was manifested.
"There is today tremendous influence
working against the quickening of con-
science
"There is recognized profession whose
business it is to show corporation officers
how to dsobey the law-by this / do not
mean, by mere technicalities alone.
'It is true further that corporations buy
and support influences and elect men only
because they know these self-same men
can be relied on to accomplish certain
things.
1--WE who do believe in good citizenship
need to help along the propaganda of en-
forcement of the law.
"I chanced to be in New York few
days before President Roosevelt deliv-
cred his Provincetown speech.
1.-THE New York stock exchange is like
the orange market in California in that
it reflects every interest. Both are sem
sitive.
"Nearly every interest in both ends OF
the country is opposed<to anything that
will affect this stock market unfavorably.
Appeal for Mercy
'"rhe day before the Provincetown
speech everyone In New York was on the
stock market.
"All the newspapers there came out in
some way urging the president in their
euphemistic way to say something to help
the stock market.
"Their yelled hint was that the presi-
dent should say that the big fellows
who violated the laws should be per-
mitted to escape
"They wanted him to say something to
restore confidence.
MEN at the head of great financial
cliques consented to be interviewed and
expressed the hope that nothing would
be said that would cause panic.
"Those men always stop at the verge.
They always do business on borrowed
money.
"They merely limited that the country
would go to the demnition bow-wows If
the president alarmed the people too
much.
"I wondered what President Roosevelt
would say. though I was pretty sure.
what he did say was that the govern
ment would pursue the people who vio-
lated the law and Lie violators must
suffer.
'.Did the stocks go down? No. they
went higher and they are keeping on
going higher. (Applause).
Calls Their Bluff
'The president called their bluff, he
made good, and the corporate influences