The Washington herald., 1907-12-04


by the recent financial furry to desert
his stand for honesty in the conduct OF
corporations engaging in interstate COM
merce was the most general comment
upon his message. which was read YES
terday in both houses of Congress. He
launched at the very outset of the
lengthy document into a discussion ~
the relations between his policy Of prose
cutting 'malefactors of great wealth -
both human and corporate. and the
money stringency. The cause of the
stringency he declares to have been the
foolish fears Of the people who withdrew
their money, and by boarding it brought
about the very thing they hoped thus 10
get away from His view on this point
was heartily indorsed by a majority of
those who discussed the matter.
The greatest surprise caused nv am,
one part Of tho message was oeeasioned
oy his suggestion that the Federal Gov
eminent finance the Presidential cam
paigns Of the great political parties. and
the gasp that followed this pronounce
ment was quite as large as the President
Indicated in the message that he exnect-
ed 1t was 80 sudden" that few persops
cared to say much about it. save that
II was about the most radical measure
yet proposed by Mr.. Roosevelt.
The comment was general that the
Presidents views on the question Of
tarin reform, as expressed in the mess
age, come nearer TO advocating revision
than he ever approached in any of his
former public utterances.
Free Wood TuID PIcaseS.
The abolition of the tariff on wood pu1n
ana other forest products as a measure
Tor the preservation Of the seriously
threatened forests Of the cotntrv met
with universal favor among those who
are acquainted with the extent 10 vb;ob
This danger exists. His recommendatiors
concerning further legislation for +ba
control OF interstate business. and for the
FeueraI Incorporation OF Interstate rail
Ioaos mad been anticipated by former
statements from the Chief Executive
ana did not occasion much surprise
The small space devoted tn tbe roa7,
OF the District was a source of res~o.
TO great many Washingtonians ana
"lners Who are interested in the welfare
OF the Capital The proposal for ma
uohai gallery Of art in this city was
generally received with approval. and an
provaI was expressed in many quarters
mat restriction of child labor was among
the PRESIDENTS desires for the District
Fedeial supervision over trust com
panies in the District such as is eyer
clsed over the banks, is already in force
ana il was source of surprise that the
FTesIdent recommends in his message
tslsldtlon TO put such supervision over
tNe trust companies in effect here.
The message. IN condensed form. is as
follows:
No nation has greater resources. than
ours and l think it can be truthfully said
that the citizens Of no nation possess
greater energy and industrial ability I,
no nation are the fundamental business
conditions sounder than in ours AZ This
very moment; and it is foolish. when e,cb
is the case, for people to hoard money
instead Of keeping it in sound banks.
Tor II Is such boarding that is the imme-
oiate occasion Of money stringency. More
over. as a rule, the business of our neo-
PIE Is conducted with honesty and probity.
ana this applies alike to farms and fac
torres 70 railroads and banks. TO all our
legitimate commercial enterprises
In any large body of men, however
there are certain TO be some who arc
dishonest, and II the conditions are sucb
that these men prosper or commit thair
mlSdeeds with impunity, their exanpIe is !
very evil thing for the community
Nhere these men are business men nf |
great sagacity and of temperament botb |
INSCRIPTIONS and reckless. and where the |
conditions are such that they act with |
OUT supervision or control and at first |
without effective check from public onin- |
ion, they delude many innocent peopla 1
into making investments or embarling
in kinds Of business that are really nm
sound. When the misdeeds Of these suc- |
cesSfully dishonest men are discovered |
suferlng comes not only upon them but /
upon the innocent men whom they have
misled- In the effort to punish the guilty. /
II is both wise and proper to endeavor en- /
iar as possible TO minimize the distress
OF those who have been mlsled by the
guilty Yet it is not possible to refrain
because Of such distress from striving 70
put an end 10 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 be honest differences of opingon ss
TO many governmental policies: but surely
there can be no such differences as to The
need OF Untiinching perseverance in the
war against successful dishonesty.
Cause and Retribution.
In my message to the Congress on
December s. 1905. 1 said:
IL the folly Of man mars the general wen being
ihen those who are innocent Of the folly viii have
20 pay part VI the penalty incurred by those WHO are
guilty q the folly panic brought on bv the sre,
ulatiyc folly Of part Of the busines. e,fnrn,,,it
would hunt the whole business community hrt sucj,
siciiage Of welfare though II might be soyere
would net be lasting.
The President quotes at length from his
first message to the Fifty-ninth Congress.
the tenor OF the quotation being that the
prosperity of the country depends mainly
upon the high individual character Of the
average citizen. and that any condition
which benefits the honest captain of in
dustrial activity in any line also BENEFITS
those wnon he directs and enables TO pro-
duce more than they would produce with
out his guidance: and that legislation has
no part in this condition, and no right 70
curtail the reward Of the leader to make
II commensurate with that OF the work.