The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-11-08

Mr.. ROoseveIt's Heart 10 All Right; Don't
Mind Troubles N His Head.

To rae EDITOR or Tux SUN-Sir: After
carefully reading the article headed The
Roosevelt Panic" in tO-day's SUS l find my
self somewhat at sea and l doubt not That.
numerous other readers will feel the same.
The writer Of this article chose to conceal his
name Rs well as the real point at issue.
1 do not believe that any sane or sensible
thinking man could be 30 ridiculous az to
suppose for one minute that Theodore
Roosevelt could alone be responsible for the
panic which we have just passed through.
Though Theodore Roosevelt is the President
OF the United States IL is absolutely impO~-
sible for him alone TO create a panic such as
we have encountered.
There ars numerous and varied reasons
Why our business has suffered such u sag and
depression. and numerous writer's have at
tempted to account for the condition in
which we find ourselves. have seen few
who have been 80 foolish as to attribute the
cause TO our President. President Roosevelt
has. probably made mistakes. and as he Ia lust
a human being this is not surprising. | am
impressed and feel that the majority Of the
people in the country are impressed that he
Presidents mistakes have been of the head
and not Or the heart.
There In no question that his aggressive
action and his firm stand against corporate
greed aud dishonesty has had its effect In
checking that greed and dishonesty.
II seems but right that our national Gov
erument through its Chief Executive and Con-
gress should have jurisdiction over the large
corporations which are carrying ON "A ma
tiOnsl business, although these corporations
are directly under the supervision Of the states
In which they are Incorporated. In n mon
such "a ours. where there are so many ana
varied state laws. II il possible for u cor
poratiOn to seek state Ia vs. under which to
incorporate which will allow u the max
imum latitude of operation with the mini
mum amount OF interference. his ~ eNl-
denced by the fact that there are a large num-
Der Of States Ia which Incorporation Is sought
nv concerns doing business in other local
tiles. For instance. the laws of the Terri
tory Of Arizona seem TO be more popular
than the laws Of OTHER states and TERRITORIES.
and the Ia VS. Of the state 9! New Jersey seem
to he popular fer industrial and other incor-
poratiOns. II thPse c1TporationS seeking TO
do "A general business IN the United states
while they Seek tneir "hnTters from individual
States should come T.. C%.nfict with our ma
enabled to- carry on tnFir business IN a high
handed and illegal wSr, j. seems but natural
through our Chief Executive aud Congress,
should have a haNd In regulating and con
trolling their business.
and Congress- IN the regulation aud control
81 these large corporations does not appeal
TO me ~ y usurpatiOn Of the rights Of any
OF the States. our Presidents persistence
In his messages TO Congress Hnd NE speeches
over n" country have been vel and con
- ~ ~ NNNMHNM AAH NAHH us ~
misconduct Of big corporations.
The panic and depression through which
we have passed and are now passing seem
10 be the result Of the tradinE in inflated and
vercapitBliZed securities, the manipulate ion
Of stocks and the GENERALIZATION Of Capital
together with the natural weakness OF our
currency system. The tnplaStiCity Of our
currency hns probably been one OF tho largest
fact Ors in the money sIT!ngeucv which now
exists. Had we had a more slasti" currency
the great shrinkage in securities would only
nave resulted in a general readiustmant along
those lines and would not have resulted in
anv serious money Etrin ReuCN.
On another page VI THF SIN Of November T..
In an article headed Credit Currency the
Cure, the situation seems - me to be lOgi-
cally and carefully outlined aud the only
feasible and SANE remedy suggested. II We
should establish y credit currency ms suU-
gested IN the article the recurrence of such
n money stringPnCv rs We are now suffering
from would be avoided.
Y am not attending 10 suggest n remedy
or - snalyze the present situation. other than
to object. az any patriotic and loyal citizen
should. tn the unfsir and manifestly unjust
aTrsiRnment Of our Chief Executive: and !
do not feel that President Roosevelt H. in
need Of nv sDecial support other than that
he has a right to eXDect and should receive
the hearty support Of every citizen a. long 50
he IL President. PAUL y. FEEGUssON.
NEW HORK November 4.