Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1907-04-02


Roosevelt has decided ret to accept the
invitation of the Illinois Manufactur-
era' Association t. deliver Il speech at
Springfield. Ills, on the railroad situa-
ton. He addressed a letter yesterday
10 9. II. Smith, president of the as
ISOLATION. stating that it would ~ i'm
possible Tor him to accept their invita-
ton, extended last week, because he
did not feel that he had anything Ia
say at this time in a special address on
this special subject. The President
has received 4 great number Of re-
quests for statement by him. or Il
speech to b" made by him in connc"-
t!pn with the railway situation. He
has given these requests the utmost
weight and most careful consideration.
After fully looking into the matter, the
President informed his advisors thar
he had come to the conclusion that
there was nothing now which he had
to say at this moment on the railway
situation; that he did not deem it either
WISE or proper to say anything with a
vieW to any Immediate situation in
Wall street ana that as he should only
give expression to the definite ana set
tied POLICY to- be carried out wholly
Without regard to the e~igcncieS of thl
moment. and rs his views on the policy
III question we're already a matter o.
record, it did not seem necessary at
this tirnc to repeat them
To tine different men, friendly ana
III friendly who have visited him or
written to him, he has answered
verbally or in writing that his words
az acts spoke for themselves ana
needed M explanations whatever ana
that he should not in his future course
deViate one hairs breadth from the
coIr@" he hos pursued III the past ANA
Was now pursuing.
rhc statement was made from an
authoritative source today that 'cvcn
q most curspry examination Of what
n" President has repeatedly said in
speech and III message Will show the
utter nonsense Of surprising tho gov
crlmcnt has the slightest intention to
take any action which would invali-
date the safety and stability Of the
railway securities now issued, the
whole legislative program Of the
President having been proclaimed
again ana again as enc to insure the
future against the mistakes and de-
dent holds that every executive action
taken under his administration wheth-
er by the Department Of Justice or by
the Interstate Commerce Commits
sion has furnished its own ample
Justification.
1t was pointed out today in admins
trativc circles that the President has
made no references in his speeches or
| of 10 nj
cal valuation of railroads. His posi-
ton on this question. it was said, is
that the roads themselves will work
out this question as an item Of book
keeping and reference was made to the
fact that two roads, the Northern
Pacific and the Great Northern, al
ready have submitted figures as to
their physical valuation. 1t can be
stated on authority that the President
again will ask Congress at its next
session. for power to deal with the
question of over-capitalization of rail-
roads. A similar request was made at
the last session but favorable action
was not taken upon it.
In his letter to Mr.. Smith, the Presl-
dent enclosed copies of the speech made
at Raleigh. y. c., October IL, 1919, ana
thn one he delivered before deieSa-
tion Of railway employees in this city
on Nov. IA, 1905. together with his last
message to Congress at the beginning
Of the first and second sessions OF the
| last Congress The President con-
cludes his letter to Mr.. Smith as 1oi-
| lows:
"You will see in the two speecheS
and the two messages that l have said
| about all that l would say II SPOKE
now. AsI said to your body the otheT
dav. l have already expressed again
and again my carefully thought OUT
| beliefs. | am more firmly than ever
| convinced that these beliefs are WIS
and that the policy l recommendea IN
nv message at the opening Of each OF
the last regular sessions of Congress
| must be carried out. Just at the mo-
| ment | do not see that | have much ~
add 70 what nave already sad ana
| think that what has occurred since
wrote the two messages in question
merely illustrates in striking fashion