The Plymouth tribune. (Plymouth, Ind.) 1901-1911, 1907-04-25
Political Comment.
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PEeSluelI Roosevelt Ids tdAlCd w ga
streets bluff and we may confidently
count on a cessation of the financial
shocks which recently have been dis
turbing the serenity of the business
world. There is no reasonable ground
Tor doubt that the stock manipulators
we're wholly responsible for the at
tempt to frighten the administration
and force from il the "reasSuring
word The railway rate measure was
Of small moment to them, but when the
President took up seriously the ques-
ion of over-capitalization and urged
some means of regulating that feature
IF high finance, the Wall street gam
olers saw the prospect of losing their
most valued instrument They advised,
pleaded and finally threatened, accom-
oanying their program with series
Of market manipulations of start
ling nature.
That sort OF game is played only
as last resort, because it is danger
0us to the operator. Wall street can
not thrive in a panic and 1T doesn't
take many financial commissions TO Gre
ate panic. The SPECTATORS were des-
perate enough to run tie risk, but as
(heir plans have miscarried, they VIII
probably confine their future warfare
to less menacing tactics.
Instead of giving a measuring, the
President has given a 'reiteratlye'
word. That is, he has explained, in
letter to the Illinois manufacturer,
where he has stood consistently
throughout the railroad campaign. AMI
where he stands now. To discount the
claim of his enemies. who have insist
ed that he jumped at conclusions, the
President declares that he took no ac-
ton looking to the reformation OF rail-
way methods until he had made an
exhaustive study of the question He
is convinced now more than ever that
the legislation already passed and the
additional legislation which he favors
are i'll the public interest.
That the people may not be misled
into thinking he IS hostile to railway
interests President Roosevelt repeats
several paragraphs from his Raleigh
speech and also from his inaugural al
dress. in both of which he was care
full to stand on the middle ground-ad-
vocating justice to the shipper and to
the railroad as well, and to each the
same measure of justice. He dweit on
the Importance of the railroads as a
factor in the Development Of the ma
tional resources, denied that rates
were. in the main. unreasonable. but
urged that there must be an end to
every device giving one shipper an AL
vantage over another in their respect.
i've relations to the common carriers
Likewise he showed the injury to the
common welfare growing out of over
capitalization and excessive stock VIZ
tering and recommended legislation
which should at least minimize the
corroding influence of speculation on
the Industrial world
The carefully prepared attack of
Wall street operators which drove
prominent financiers to Washington In
an appeal for word of assurance
from the White House has ocen re-
pulsed. The President treated the pc
| titioners with courtesy and promised
consideration. He wanted to con-
vince himself first that there were no
under currents In our commercial lie
of which the Wall street upheaval
might be the surface indication, and
when he Investigated and discovered
the truth of the plot, he was prompt
to announce his position. He says In
his Illinois letter that he has not
changed his opinion. and will not alter
his plans. and that should be enough
to reassure the nation. If there Is any
comfort to Hartman or his crowd in
this. they are welcome to it.-Toledo
Blade.