New-York tribune., 1907-03-15
NO CHANGE OF POLICY.
White House and Treasury Flooded
7cith appeals for Relief.
LFrom The Tribune Bureau.l

IFrom The Tribune Bureau.l
Washington, March 14.-The country is
eagerly awaiting the forthcoming conference be-
tween the President and railroad managers as is
shown by the interest manifested in political and
business circles. Senators and Representatives
who are lingering here watch the stock market
with feverish anxiety and then hurry 10 the
White House TO get. if possible. from the Presi-
dent an inkling of what the conference fs likely
to develop. They leave the White Mouse just
about as wise as they were wheu they came
II in Il receptive frame os mind" the
President has announced again and again to his
callers.
No RADICAL. ACTION PLANNED.
For more than forty-eight hours the White
House and Treasury Department have been
flooded with appeals for President Roosevelt and
Secretary Cortelyou to take some action to avert
the threatened disaster in the financial and
railroad world. II can be stated authoritativey
however that President Roosevelt will not
change his attitude toward the railroads. though
il is asserted that the administration has no in
tention Of entering a radical attack on the
railway corporations
While II is thought that the visit Of ]. Pier-
pont Morgan 10 the White House last Monday
suring statement 70 the country in regard 20 tho
Administrations attitude toward the railroads.
and the apparent failure Of the fnancier's ap-
peal. have r,uch TO do with the panicky condi-
tlons in Wall Street to-day President Roose-
Welt has repea tedIy satd that he is not an enemy
OF the railroads. and that those that obey the
laws have nothing 20 fear from the government.
Though IT has not been definitely decided. the
President may issue statement outlining his
attitude after he has conferred with Presidents
McCrea. Newman Mellen and Hughitt on the
railroad situation
CONFERENCE NEXT WEEK
The conference with four railroad men, which
was granted by the President at the earnest
request of Mr.. Morgan. will be held the early
part of next week II Is generally understood
by those close to the President that the railroad
officials will urge Mr.. Roosevelt to take some
steps 10 "allay the public anxiety now threaten
ing obstruct railroad investments and con-
struction. and to the relations between the
railroads and the government"
Since Mr. MOrgan's hurried trip to the White
House the President has held numerous confer
ences with Chairman Knapp and members OF
the Interstate Commerce Commission in order
that he may be in better position to present
the Administrations side Of the question when
he meets the railroad presidents next week.
The administration is firmly convinced that
the great unrest In financial circles has been
brought on by the arguments advanced by the
railroad interests in trying 10 prevent hostile
legislation" in the various states. and not by
the attitude that the federal government has
taken TO enforce the laws regulating the COM
mon carriers. E. H. Hartman. when he was
in this city recently. and President A r. Stick
ney. OF the Chicago Great Western, who called
at the White House to-day. have expressed the
same opinion
In his interviews with the members Of the
Interstate Commerce Commission the President
is fortifying himself with all tbs facts that
body has disclosed In its various Investigations
In this way he will be able to meet argument
with argument and fact with fact The Presi-
dent il is known. takes the same position he
assumed when he sent his message TO Congress
last December and called attention to the fact
that during the last five months within which
the new law had been operative az that time
.tho railroads have shown increased earnings
and some Of them unusual dividends This. the
president believes refutes the statements Of
rotIroad men at the time that the new law
,yould ruin them, and emphasizes the fact that
rate legislation either by federal or state gov
arnments is not the cause Of the present pam
icky conditions
The President also. has referred significantly
~ another part OF his message in which he said.
.It must not he supposed. however. that with
che massage OF these laws II will be possible
% stop progress along the line Of increasing the
mower Of the national government over the use
Of capital in interstate commerce"
NO BACKWARD STEP.
In pointing out these and other passages from
bic recent message to those with whom he has
talked the President has indicated that he has
taken no backward steps in his views as to the
odvisabity of making the regulations and laws
stm stronger along certain lines
Although believing that the conditions in New
York are due to nothing for which the admin
,stration Is responsible the President considers
ba has done everything that consistently can be
done TO give relief to the money market. The
order issued by Secretary CortelyOu yesterday
followed by the order OF to-day. prevents the
withdrawal OF large sums belonging to the gov
ernnent and provides the way for the use of
additional funds in Wall Street.
Although dispatches from Illinois to-day an
nounced the departure for Washington Of Gov
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