New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-04-12
URGES LESS AGITATION.
Mr.. Rogers Sees No Depression,
bit FaUOrS Conservatism.

takes a very opNlnltStlc view OF Ale buSlllesS
conditions Of the country.
The country is all right says Mr.. Rogers.
"Conditions viii adjust themselves and there
will be no stagnation or halt in prosperity on
account OF the Presidential campaign next
year.
While we have had a serious disturbance in
the security market ] believe that present con-
dltions are bound 10 right themselves. be-
lieve the country is all right. and that the con-
hdence Of the people generally viii be speedily
restored. The country has grown so tre-
mendously the population has increased so
vastly and the production of wealth has gone
ahead so enormously over what it was a few
years ago that 1 cannot believe there viii be
any serious interference with the tide Of pros
perity the whole nation has experienced for a
number Of years past
''The earth is yielding wealth as never be-
fore Not only have vast quantities of gold
and other metals been taken from the ground
IN recent years, copper, iron. coal, etc. but
Investigation in agricultural products has had
an important part in bringing new and more
permanent prosperity TO the people.
VALUE OF DIYERsIFICATION
Take the case Of the Red River of the North
country When wheat was so nearly the
sole crop raised up there that it formed the
major part Of the freight hauled by the st.
Paul road. a bad crop year meant ruin for the
farmers and great loss TO the railroad To-day
the relation that wheat bears TO the total
freight traffic of this road is 80 per cent less
than IL was twenty years ago; ruinous crop
failures do not occur along the line. and the
road is uniformly prosperous. I understand the
South has similarly learned the lesson Of di-
vershcation with the result that you never
were so prosperous in that important section.
and that the same conditions exist in the
West.
Everybody is living on a scale different from
that Of a few years ago. AS a rule. everybody
has more money than he had in former years.
and We all require more comforts, conveniences
and luxuries. We live in better homes than our
fathers did. We wear better clothes than the
generation before US; our children go 10 better
schools, We travel more, We have things 10 eat
every day that had only at certain seasons
Of the year short time ago, and we have more
money in our pockets than the people did Of
generation past This means that greater pro-
6uction Of everything is required; that people
have more 10 do, and it takes more workers 10
accomplish what must be done.
u am a great believer in Providence. Take,
for instance, the history Of the petroleum devel-
opment Of the world. It is full of providential
happenings. New fields have been discovered as
fast as needed and from two thousand barrels,
can't carry the figures in my head. Petroleum.
providing illumination that now changes dark
ness 10 daylight in homes all over the world has
been the greatest ciyiiizer outside of the Chris
tar religion that humanity has known, and it's
discovery and development in Pennsylvania and
West Virginia. in Texas in California, in Russia
and everywhere it has been found seen, 10 have
been made at just the time when needed and
when the people were prepared for its use.
URGES GOVERNMENT CONSERVATISM
! believe in providential happenings in all the
afairs Of men. and I believe that Providence Is
On the side Of this country and that everything
VII work out all right. ] don't believe the peo-
PIE are going 10 overlook the things that make
'or their welbeing. The whole country has had
taste Of the blessings of prosperity. and in a
pEovidential sort Of way believe the people are
going TO eliminate the factors that would stand
N the way Of continued prosperity
CONTINUED agitation, the people VIII see. un-
settles conditions. You cannot move loads with
q team that won't haul-with horses or mules
mat viii not pull together. The people must see
uat settled conditions are necessary for prog
tess and development, and believe that the SEN
Hnehl Of the country viii have so crystallized
Nlthn few months that there will be prac-
ueally united demand for the strongest conser-
'ausm N the conduct OF the government. We
mus nave settled conditions. and believe we
VII have them.
While the recent panic is described as a furry
among the Wall Street gamblers. its effect and
s'khlhcance are not to be so contemptuousy
N.siAlssed When investors from the outside
can come up 10 Wall Street and buy stocks or
ponds that pay good dividends or yield profit
Dy an advance I'm price Wall Street is consid-
ei'o Dy them then very good place. but the
money that is paid out in dividends or the
piohts secured from advances in the price OF
securities must come from somewhere.
LESS AGITATION DEMANDED.
When the TIDE turns and securities are sacrI-
nced in a falling market il does not dispose OF
ne matter TO call Wall Street den OF thieves
val Street Is really the clearing house OF the
D'uhtry. Here the great railroad and industrial
tn-efprises Of America arc financed. and de-
pess'on IN Wall Street necessarily 20 a greater
Tess extent affects the business interests OF
me whole country. But the important point IS
ms: Confidence that leads TO investment in
securities s essential 10 the continuation Of de-
'siopment- And settled conditions are neces-
iy 20 maintain confidence. Every new enter
ss'se requires money 20 carry IL through Wall
street u is but an elemental fact 20 state. az
-Nos the greatest market in the country for the
- tcoTities Of these enterprises. When there is
r,-,e LIE ior securities az normal values enter
pil.es are halted.
ne have already seen how various improve
,-ts contemplated by the railroads have been
tt...pyfeFlly suspended. I would like 10 make
- POINT; There Is more wealth In The copn-
~ .p-oay than ever before known. Conditions
'sseieinenis and methods Of carrying on ell