The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-08-15

IL is n TOle Oh law, SeSs wv No'' /
temporary, Sometimes unfortunate, but
always necessary, that man Is bound
by the acts of his agent. The stock
holders of the News Leader ana OF
every other important newspaper In
the country have been compelled By
juries and courts to pay heavily for
the mistakes of reporters over whom
they had no direct control, ana Of
whose doings they knew nothing.
Stockholders OF banks have boon COM
PEELED to pay occasionally to their alb
solutc ruin. for the rascalities or fol-
lies Of bank officers. 1t is q hard
case, but 1t is law; ana it is justice"
our contemporary is confounding civil
actions with criminal actions. When
the stockholders of the News Leader
were made to pay for the mistakes Of
a reporter 1t was because some person
who felt asgreved at the reporters
publication :. brought an action for
damages, and proved before jury
that lie had been injured.
When the stockholders OF a bank
arc made to pay for the rascality Of its
officers, it is because innocent deposit
tors have lost their money, and the
stockholders are required to make the
losses good. But the assessment is
not made in punishment of the stock
holders. The law does not punish the
stockholders of bank for the rascal
ity OF it's officers. If the deposits are
not impaired the stockholders arc not
even assessed. The dofnultng officer
or officers are hauled into court on
their own account and tried as individ-
uals and, If convicted, punished as
individuals for their crime.
But in the cases which the government
is now prosecuting there is no ques.
ton Of compensation for injuries done.
The officers of the corporations vio-
lated the antircbate laws, and the
innocent stockholders are made to pay
the penalty, while the real offenders
so free. And the fines collected go, not
to any persons who may have been
injured, but into the treasury of the
government.
The conservative people of the coun-
try are fast beginning to realize that
the insane war which President Roose-
welt and his followers are making on
corporations is not only working gross
injustice to thousands OF innocent
stockholders, but is also inpairng
al n,-;, u,
threatening general prosperity.
There seems to be no ground" says
the Baltimore Sun, in lengthy review
of Mr.. Roosevelt's policy. for the as
sumption that financial panic is i'm
minent, but beyond question there is q
certain degree of financial stringency
which might become alarming If pru.
dent and practical counsels do no,
prevail There are hundreds of thou.
sands of persons owning railroad anc
other corporation securities who are
suffering from a diminution OF in
come. The popular fancy is prone t.
picture every owner of railroad stocl
| or bonds as a person bloated Will
wealth. This is not the fact. 1t wa
| stated recently that there arc nearl,
$4,000 stockholders in one of the grea
| railroad systems Of the United States
1.-The majority OF them are probably me
and women of moderate means, to whoI
a diminution of income means rcf
hardship. 1t is surely not the dcsr
of the people of the United States t
make them suffer. 1t cannot be to tn
interest of the public that such a con
dition of financial stringency shall pre-
vail that corporations will be force
not only to abandon new enterprise:
but to reduce the scope OF existin
erations. 1t Is inconceivable tina
i the intelligent and practical people @
this country favor any system of trust
breaking which Will break the publ
financially and possibly do the head
OF the trusts little harm. Is 1t pos
i siblc that reasoning men, whatevo
their party associations may be- ca
be duped in the belief that the publ
\ Is getting a square deal when
pays the fines which are assesse
against the oil company? such thin
Is beyond belief, unless we are a ma
ton of human ostriches, hiding on
heads in the sand and blind TO tn
fact that the trust which has bee
fined is plucking from us much mo,
than the court extracted from tn
trust"
The people are getting their eye
open, and if the President does nc
look sharp, he will everyday his ham
There was another boastful threat frol
the Attorney General in yesterday
news reports, and another slump
the stock market, which carried IL
price OF stocks to new low leve
There. was also announcement of IL
failure of a large manufacturing col
Germ, which had plenty Of assets. b,
was unable to borrow money.
Is it not time for the people to ca
a halt on President Roosevelt and h
hilarious Attorney General?
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COL CUTSHAW'S SERVICES.
Elsewhere we publish a commun
cation from an esteemed corrcspon,
ent, in which he opposes the recon
mn "a