The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-12-22
PASSING OF THE PANIC
AND OF OCCASION OF 1T
CNew York SUM

| AaLlSAS are lPAOFSQ- lie CON-
ditions of money are steadily approach
ing the normal A subdued activity
is seen in general business and it is
possible to take account of stock and
determine the extent of the damage in
CURED. The spectacle is impressive.
No preceding panic ever approached it
| for the impartiality and extent with
which the ruin was distributed.
Since Mr.. Roosevelt came into the
presidency he has conducted an extra
| ordinary campaign against wealth.
| especially against corporate wealth, and
IN particular against the railroads. His
| hatred of the last named has taken the
form OF an intellectual obsession or
lesion 1t began with his public de-
claration that the accepted definition
OF property must be changed. and it
| proceeded cumulatively ever since un-
! til it eliminated in the present COM
mercial CONFUSION.
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OF Mr.. Roosevelt's proficiency in the
arts of the politician. in the worst sig
| nihcance of that word he has left Us
no room for doubt. A more conscience
less or more reckless demagogue never
aInlcted this country. BY slow and in
sldlous degrees he has upset the pub
nc confidence, arrayed class against
| class, and fOmented mistrust and
hatred. No one ever approached him
in creating a hopeless disaffection and
unrest in the ranks Of labor. He Joined
labor union under conditions of in
tense publicity; he has constituted him.
self the champion of every known ex-
trenity OF labor agitation; he has as
soclated upon terms of close personal
intimacy with the worst and most sin
dlsturbers of whom Orchard, Meyer,
PettlbOne and Haywood are the ia
mlllar expression, and he has welcomed
them as the guests of the president of
the United States in the white house in
washington. All this has been accom-
panied by the steady denunciation and
sophisticated Vituperation of capital,
especially of capital invested in rail-
roads and therefore in most intimate
contact with the people; by the steady
abuse of what he called swollen for
tunes and by fixing public attention on
abuses in corporate management in
ways as subtle as irresponsible, but ex-
cellently devised to arouse and infiame
the public mind.
Any vulgar and INSCRIPTIONS dema-
gogue could have done the same thing
with no particular harm to the great
body polite: but when the role of agi-
tator and of sower of evil seed is taken
up by the president of the United States
and he goes up and down the land en-
rendering discomfort, jealousy and
hatred in the hearts of the people it is
a very different and a very serious
thing. Even in time of overfiowing ma
tional prosperity. even in time of a
prosperity more evenly distributed and
shared than ever before in the history
Of this or any other country. it was
possible for Mr.. Roosevelt to achieve
a disaster that ordinarily could ensue
only in time of great public depression,
disappointment and common misfor-
tune.
He had not the slightest apprehension
of what he was doing. No ray of bust
ness intelligence ever entered his brain
or ever can enter his brain. He cannot |
even now understand that when the |
president of the United States, year
after year, unremittingly assails the |
stability of fourteen billions of money |
invested in a single American industry, |
to wit, our railroads, he is bound by |
virtue of the weight and tradition of |
his office to bring about crash. What |
did he care for a Wall street panic? A |
mere disturbance among gamblers and |
stockholders? After pulling down the |
house he wonders what made il fall
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Well matters are relatively better. 4
much better. When confidence is re-
stored once more we shall speedily be /
ourselves again. But it will take /
long, long time to repair the breaches
that have been made, while for count
less thousands things can never be the
same. For many 1T is too late in lifel
to begin all over again, and for yet
many others the damage is quite ire
parable and beyond the reach of hope
All credits must be re-established or
else recreated. That is inexorab BILE; but
happily to people of our temperament
it will come easily enough, and already
the whole country is addressing itself
to the task with a degree of fortitude
that nothing can abate.
The national sense of regeneration is
founded in the conviction that Mr..
has accomplished his self-im-
posed mission and that he is functus
1fficiO. His message, filled with warmed |
over aspiration and shopworn alarms.
has been received with Indifference and Il
and dismissed as the lucubra-
tons of mind unhinged. His homilies
and his fuminations are no longer of
and neither his recent pre-
tension to future office nor the sublime II
and dramatic remuneration that he H
OOnders excites any emotion