The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1907-11-07
Roosevelt,s POLICY sound.

liyered before the Economic Club,
of New Havenn. Conn. the other
evening declared with emphasis that
President Roosevelt's policies tow
ard capital are sound and will have
q wholesome effect upon the nation.
The rfist cause. he says, Of the re-
cent disturbances In eastern money
marts. however, should not be laid
to President Roosevelt. Said Mr..
clews:
you ask the question: ra
President Koosevelt's policy toward
capital sound? In other words, has
he. In denounclng and instigating
the persecution of law-breaking rail-
ry corporations, and industrial
trusts. menaced the prosperity OF
the country? contend that he had
no intention to do SO, for, while he
was instrumental In turning on the
light, he was not responsible for tho
abuses OF power that the light re-
vealed. and 1t is the revelation OF
graft and Illegal methods. on the
part Of certain railway and other
corporations. through the acts Of
their responsible managers. and CON
trolling capitalists. that has under
minded public confidence in manyof
them"
1t is now over two years since
public disclosures of this kind as
well as railway rebatlng began, fol-
lowed by the collapse of the copper
manipulation and, very recently. by
the scandals connected with the New
York Traction situation. No yon-
der, therefore. that confidence is
seriously disturbed. And who is re-
sponsible! Not President Roosevelt
and Mr.. Hughes, the famous life In
surance investigator. who have been
the instruments of exposure. but
the individuals who conceived and
conducted these awful operations.
OF course the guilty protest against
financial house cleaning. and they
endeayor to ward off official investi-
cations on the plea that these dis
turb confidence. and make the limo.
cent suffer. But the whole respon-
sibility should be placed where it
belongs-upon the perpetrators Of
misdeeds and not upon those who
in the discharge OF their duties Of
their high offices. have been the
means OF turning on the light and
z preventing future operations OF the
kind. Those who have triffied with
the public Interest and displayed a
blind disregard of the people
rights are the real transgressors.
Throughout all these disclosures
of illegal methods and wholesale
graft there is one CLEAN of encouc-
agement, and that is, thaat public
opinion is aroused and will insist
upon clean as well as capable coz
I porate management in the future
and thus these disclosures will re.
suit in the raising of the moran
standard OF corporate management
In view OF all the wrong doing
IN corporation management 1t mus
not, however. be forgotte that the
majority of our corporations ar.
ably and honestly managed in tn;
interest of the stockholders. 1t i.
not surprising that black sheep have
crept into some of them. for a Ger
.ain percentage OF people in ever,
walk of life and every associatio!
church or social club, are bad a
heart, and show up in their true col
ors. when subjected to the tempta
tion to commit wrongs which vii
tend to their personal advantage
The assumption that now prevails
that all corporation management /,
Z dishonest. IS therefore. unjust ant
has been causing much of the hys
terra that has prevailed in Wa,
street and elsewhere.
1t becomes daily more eviden
that when all our railway and indus
trial corporations are known TO "
honestly mnr"ged. and when stock
holders and investors get their due
values yill he more stable. and
American credit, which is not at |
low ebb in the great financial cen
ters of the world. win be restorei
to rightful plane.
at is mistake. or SANDER. tt
sa that President Roosevelt ha
made war against capital. He /
only opposed to dishonest corporal
methods. and dishonesty acquires
wealth. He respects the possessor
Of honorably acquired and honestl.
used fortunes. and would protec
their properly interests in every ws;
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