Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-03-29
"Are We on the Eve Of a Finan-
ciaI Panic7" is the
Question
BEING ASKED AT WASHINGTON
Railroad Nagnatcs 60 to the Capitol
no See President Roosevelt In
Anxiety to Stem the Tide


question that YOU can hear hundreu
times propopnded daily In the hotels
aud IN the bushes houses Of washing
ton. Are we on the eve Of financial
panic, Is "a problem which only events
can solve. MOI in % years has there
been more unrest In the great ccntefs
of trade and commerce than now exists,
and that TOO In the face OF Il prosperi-
ty which exceeds far and by ANYTHING
In the history not only of Our NATION but
the nations OF the world
Arc we OH The eve of financial pam
scT II Is n subject OF awful import not
only TO the corporations, not only TO
The commercial life of the nation, but to
the wage Garner and he Includes the
Iar1ner and the hus1andman- This UNI
resi- began Just about the time Congress
terminated its lahors and cotempo-
Yaneous with the meeting OF state legs-
.staturcs throughout the length and
breadth Of he land, The state lesisla-
ttlreE by thcir eiactments aCCentua1ed
and made even more, stringent the laws
passed In the E'itty-ninth Congress.
And these laws We're primarily directed
against the railroads Where Congress
could not fin a rate the. state leElsla-
tuTe came along and fixed the rate
which a passenger was to pay for a
miles travel These rates varied Some
more and some less than 3lS cents per
1n'le. nH ~ an loDsilg TO reduction, And
world saw what had been accomplished
alld Was IN process OF accomplishment
therc game CONSERVATION and dire dis
aSler was thre atened
PRESIDENT BLAMED.
Down upon the head az President
Roosevelt anathemas fell. Hc WAYS
charged with the ruin OF great railroad
property Wall street more sensitive
to tonci than Il boil is 10 the press of
finger responded either through SYM
pslthy or manIplliatlon and stocks he
gam TO tumble, and they tumbted and
tumbed until the men who had wruns
millions out of the street" and who
had framed up the game of finance so
that ono party was ia ON the bul side
and the outs took To the woods or were
modestly on the bear side. came 10
the conclusion that the wise thing TO
a GAY was % see me PRESIDENT snd u PCS
and his great personal following
throughout the country he would not
pui a stop order on the shrinkase in
stocks nd the men of the railroad
Mellens, the Yoacums. to say nothing of
the lesser fry. came to Washington TO
see the president and learn from him
what was best to be done to check
tte avalanche of stock depression
t,oIrAr. To. COCOA SION
And those who had known President
Roosevelt In somewhat perfunctory
way and who had Very serious doubts
as La his intimate knowledge of great
railroad properties 10 say nothing OF
the shad y tran sactlons conn ected with
the manipulation of the stock of rail-
road properties forcing one set OF men
Out and putting another set OF rnen in.
learned that the president, who knew
has American history as we'll as any
man In the country, who knew the
worlds politics as Well as any man In
Ire Country, who knew how TO hunt and
VINO knew how to brand a steer, knew
also how to brand the magnates of the
l'dilroad world when they came to see
hlm dGring the past week on tho aues-
tion whether President Roosevelt IN his
position on the railroad question is
making ready for financial panic.
vv,-rr,pu,r, -,roc,,.s,
M E-NDp s'oehS'
President Roosevelt believes that
there is more water than solid rock I'M
Ihe railroad stocks of the United States.
lie Knows that there are .'eoodn mil,
roads and bad railroads. hui the
PROPORTION OF bad TO good accordine
10 enc who is VERY near the nr.siJa,i
is as five 10 one,
Approaching these facts which hive
Been furnished him mot only nv he
DEPARTMENT OF corntnerce ana Labor Mr.
by the Interstate com,nerc. enn,,,1issso,
ana the attornev GENERAL prasids',,
Roosevelt was en,,inned as 1ar, 49,,
have been in public otfice on ,rrea, o,,es-
lions of vast moment, la meet ne ~
resentattvss M ne rs,i1rnaS s,,,,,a w.. ~
the United States who have seSn b,,,,
during rhe fortnight tist nasssd sn rI,.
of them talked after thelT intervIews
with the chief executive Others re-
quested 10 ten sshst sctnnIiv 1ons n,acs
In the room aaso5nins tbss caSjnos 80,
or Ihe nresjSsntial nfYice vrhIIa es,b
man held To his individu,I noirt Of
view ihey ,InlyersalIy euread thnt M
president insisted upon one hing a,J
thai he was hui rxrcutlny ne ia,,
,rhat 81, far as he coma he ucmI, fiS,
tinetlish me enod reSI,oaS so,.Na NJ
from, the had romrnmiss rs, III NJ
were canal beyoye H. ia a. re Ja,,sn ~"
Gated very much tbA lc,isIaS,on ~
ommonwesIths lookImp r. me Nns,,i g9
ton OF rates and raiIro7d nrone-ttss he.
yond federal IspisSatinn XII ve NiL9
ii was a ssni1el az vaIir,aS ,,,n,I p,t'ls
ton and rn1sn,a ,a cement
Those who bnye eoIIn,,-ad ,,ogn,., a.,
trend of events nort,",,,a Stossis tllS
iinaneial centers reaii1o tha, =" ens
chaollc condition EXISTS and that hsse,,,
things settle down to "a ,,ats,c ha.is
and Possibly ar hnnAst basis 49,. so s',,ti