The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1907-08-22
ROOSEVELTS SPEECH TAFT ON WORLD TOUR
Says Financial Depression
is a Plot of "Malefactors
of Great Wealth.
NO CHANGE OF COURSE


Provincetown, Mass, Aug "a
President Roosevelt in his address
here departed from the text which
be had prepared TO speak of the
present financial unrest and the de-
probation in values and to declare
that he has no intention of chang
ing his attitude toward finance and
Industry.
The matter which Mr.. Roosevelt
tnterpolated in his set speech fol-
lows
During the present trouble with
the stock market | have, of course,
received countless requests and sug-
gestions, public and private, that l
should say or do something to ease
the situation There is a world wide
financial disturbance. 1t is felt In
the bourses Of Paris and Berlin, and
British consols are lower, while
prices of railway securities have also
appreciated.
ION the New York Stock Ex-
change the disturbance has been
particularly severe, most of 1t, | be-
dcularly confined to the United
States and to matters wholly un-
connected with any governmental
1ction, but it may well be that the
discrimination of the Government,
In which, gentlemen, it will not
vaver, to punish certain malefactors
af great wealth. has been responsible
Cor something of the troubles, at
last to the extent of having caused
hese men to combine to bring about
~ much financial stress as they pos
ably can in order to discredit the
policy of the Government, and there
by to secure a reversal of that policy
% that they may enjoy the fruits of
heir own evildoings.
THAT they have misled many
Ynod people into believing that there
should be such reversal of policy is
possible If SO, ! am sorry, but it
will not alter my attitude. Once
for all, let me say that as far as
am concerned, and for the eighteen
months OF my Administration that
remain, there will be no change in
she policy we have steadily pursued.
ID letup In the efforts to secure the
lonest observance of the law, for
essard this contest as one to deter
nine who shall rule the Government
the people through their govern
mental agents, or few ruthless and
4etermined men whose wealth makes
them particularly formidable, be-
cause they hide behind the breast
works Of corporate organization.
II wish there to be no mistake on
this point. 1t is idle to ask me not
tn prosecute criminals, rich or poor.
Bnt l desire no less emphatically to
have 1t understood that we have un-
Aertaken and will undertake no act
hnn of indicative type, and above
all no action which shall inflict
Deat or unmerited suffering upon
The innocent stockholders and upon
che public as a whole. Our purpose
u to act with the minimum of harsh
na6s compatible with obtaining our
0nds. In the man of great wealth
who has earned his wealth honestly
and used 1t wisely we recognize a
0ned citizen worthy of all praise
and respect.
Business can only be done un-
Dr. modern conditions through cor
RaGations. and our purpose 1t to
h.artily favor the corporations that
do we'll. The Administration appre-
eiAkes that liberal but honest profit
foe Legitimate promoters and gen.
ssaus dividends for capital employed
a1kAer in founding or continuing an
!aa4est business venture. are the fac
D& necessary for successful corpor-
an activity, and therefore for gen.
eeally prosperous business conditions.
~All these are compatible with
,air dealing as between man and
man and rigid obedience to the law.
Our aim is to help every honest man,
asery honest corporation. and our
oollcy means in its ultimate analysis
a healthy and prosperous expansion
of business activities of honest busi-
aess men and honest corporations.
mo individual no corporation,
obeying the law has anything to fear
from this administration.