Waterbury evening Democrat., 1907-12-03
PRESIDENTS 5
 MESSAGE. Republic Fundamentally Sound, Says Er.
 Roosevelt. BUT SORE SPOTS EXIST. Dishonesty Must Be Eliminated Though Innocent
 Suffer. ADVOCATES NEW LAWS. Currency Legislation, Regulation of Corporations, Inheritance and h. come Taxes Among Presi. > dential Recommen-
 datiOns.
ADVOCATES NEW LAWS.

SentatiyeS:
 No nation has greater resources than ours, and think it can be truthfully said that the citizens of no nation pos sess greater energy and industrial abil- ity. In no nation are the fundamental business conditions sounder than in ours at this very moment, and it is foolish. when such is the case, for peo- pie to hoard money instead of keeping 1t in sound banks, for it is such hoard ing that is the immediate occasion of money stringency. Moreover, as a rule, the business of our people is con ducted with honesty and probity, and this applies alike to farms and facto- ries, to railroads and banks, to all our legitimate commercial enterprises.
 In any large body of men, however, there are certain to be some who are / dishonest, and if the conditions are such that these men prosper or commit their nlsdeeds with impunity their ex- ample is a very evil thing for the com munity Where these men are business men of great sagacity and of tempera- ment both interruptions and reckless and where the conditions are such that they act without supervision or control and at first without effective check from public opinion they delude many innocent people into making invest ments or embarking in kinds of busi- ness that are really unsound. When the misdeeds of these successfully dis honest men are discovered, suffering comes not only upon them. but upon N the innocent men whom they have misled It is painful awakening whenever it occurs, and naturally when it does occur those who suffer are apt to forget that the longer it was deferred the more painful it would be. Tn the effort to punish the guilty 1t is both wise and proper to endcavor, so far as possible, to mini mize the distress of those who have been misled by the guilty. Yet it is not possible to refrain because of such Mistress from striving to put an end to the misdeeds that are the ultimate causes of the suffering and as a means to this end where possible 10 punish those responsible for them. There may bc honest differences of opinion as to many governmental policies, but sure ly there can be no such differences as 10 the need of unhinching perseverance, fh the war against successful dishon- esty.
 In my message to the congress on Dee. ,. 1905. said:
 "If the folly Of man mars the general well beiag, then those who are inno- rent of the folly will have to pay part bf the penalty incurred by those who ire guilty of the folly. X panic brought bn by the speculative folly of part of he business community would hurt he whole business community, but uch stoppage of welfare. though 1t night be severe, would not be lasting. the long run the one vital factor in he permanent prosperity of the coun- " is the high individual character of he average American worker. the verage American citizen. no matter hether his work be mental or man. al. whether he be farmer or wage Forker, business man or professional ,an.
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 great productive capacity who be- bmes rich by guiding the labor of any other men does % by enabling em to produce more than they could roiuce Wifto1t his guidznce. and both
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