The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1907-03-19
Speaks at South Car0IinaDs'
First Annual Banquet
WILSON ON JOHN C. CALHOUN
President of Princeton Says We Have
Lost Our Heads In Pursuit of
Wealth-Tariff instrument
of Stimulation.

New York, March 1S.-The South Caro-
linians gave their first annual dinner at
the Wadorf-Astorla tonight with former
Secretary of the Treasury Leslie NJ Shaw,
President Woodrow Wilson Of Princeton
and Judge Joseph A. Mccullough of
South Carolina as the principal speakers.
President Wilson had for his subject
South Carolina's Most Famous States
man, John c. Calhoun and after paying
| tribute TO him Mr.. Wilson discussed ns-
tiona matters, He spoke in part as fol-
/ lows:
ut is interesting to note how often
/ progress is pushed to such a speed and
urged by such means that the peace OF
the country is threatened; its interests
| thrown into diseord. Our trouble at pres
ent is that the tariffs and all special
means of stimulation have been pursued
too far and too fast TO the destruction OF
lbalanee of harmony in the social and
economic development OF the country We
tare obliged to acknowledge that We have
Flost our heads in our pursuit of wealth
and material power. Having lost wise
| possession in our too eager progress
| we are in danger of losing 1t in our ef-
| forts to reform.
Stimulate Material Progress.
we have stimulated material progress
in every way we eoudl think of The
chief instrument of stimulation is the
tariff. BY this means it was sought TO
give to every sort of organized industry
| some special protection of law. untit
| recent years the momentum thus induced
| seems to come to nothing
But at last everything moved with
rush. Upon colossal success followed
colossal organization. A spirit of mad
ness for success upon a great scale seized
upon those WHO actually conducted the
great businesses ard knew how TO make
them pay, madness for money. seized
upon those who undertook their manipu-
| 1ation.
| we have by our foreetfulness of the
4 true principles Of legislation created
classes and put colossal interests TO clash
4 wish one another. These changes of our
4 own blind contriving have carried you
/; SO far that we actually invited to
alter the whole plan of ous constitutional
| system 10 set matters right.
Root of Disease.
/ ut will require ready hand to 20 to
the root of the disease but to the root
| we should go. 1t is evident In the first
place that we ought not to punish pros
4 porous men for having accumulated the
| wealth we invited them to accumulate. L
| believe In income and Inheritance taxes az
| "A means for raising revenue. | do not
| believe in such taxes or in any taxes as
| a means OF deprivlng the rich the rich
| who We have invited to get their wealth
| under the fosterage OF the government.
| fhe root OF inequality Is not in wealth.
| but the special faNofs granted by s1en
| legislation and eKtraVagant tariff laws
winch nave been put upon our statute
books since the war began between tae
staies. What we chiefly need Is "A genli-
inc purpose OF reform and sufficient self
possession 10 undertake It,
The mere reform OF the tariff is not
a snfficieneN, it Is not even an Intelligent
! programme. The tariff is by no means
the whole root Of tie difficulty and *
slo" 10 change. Every correction must
| be prudent adjustment or prudent re-
| arrangement Moreover. We must be
! careful to deal frankly without favor with
| class privilege of all kinds
Labor Organizations.
"rhere is another as formidable to
| equality and freedom of opportunity as
| II, and that is the class formed by the
| la Dor orga nizations and leaders of tho
country, representing only small minor
| ity of the laboring men of the country,
quite as nonopolistic In spirit as the cap
| italists and quite as apt to corrupt and
| ruin our industries by their monopoly. 10
| we are TO restore the purity of our laws
| and the freedom of our life We must sec
| to it-in all moderation and fairness-that
no class whatever is given artificial privi-
| lege or advantage"
Shaw Responds.
Mr.. Shaw, in responding to the toast.
THE United States" took occasion to
| refer to the railroad situation, saying
among other things:
There have been recently given out a
| number of pessimstic interviews and on
Thursday last there occurred a serious
| local panic, the result of psychological
and not logical causes Let it be UNDER
stood that ne who invests his money IN
| railroad extension in railroad equip
fnent shall be as safe, and as secure from
the reckless ambition of the manipulator
on the one hand, and the reckless ambi-
ton of the demagogue on the other as
| the man who elects to invest in farm
lands. town lots. mines. factories or for
| ests.
Circulation Congested.
"Our circulation only is congested In
other words our transportation facilities
are for below needs. / make the as
sertion that we are now as much in need
| of double tracking our trans-continental
| lines OF railroads we were originally in
need of these lines. The combined rail-
roads could not transport army with
necessary supplies to the Pacific coast In
| sixteen months. our salvation lies In the
| fact that army will be needed on the
| Pacific coast elsewhere. At least let
| us so hope and SO pray.
Let the investor In railroads be pro-
| tected from management having for its
end manipulation, and from government
| ownership or confiseatlon having for Its
| end political aggrandizement and the
| money viii be forthcoming with which to
| double and quadruple-traek our railroads
| as needed