The Kendrick gazette. [volume] (Kendrick, Idaho) 1892-1968, 1907-12-06
MESSAGE;
CONGRESS
PRESIDENT AGAIN AD-
DRESSES PEOPLE.
URGES FINANCIAL RELIEF AND
A SQUARE DEAL FOR
ALL.

Washington, D. C-Both houses o
congress devoted the most importan
part Of Tuesdays session to hearing
President Roosevelt's message.
The president plunges directly int
the financial and corporation regula
ton questions. He has nothing tt
qualify nor apologize for. In fact, tt
support and emphasize his presen
position, he quotes extensively from
previous messages in which he an
nounced his policy of compelling hon
esty in corporation as we'll as individ
ual dealing.
There is no hint Of abating the en-
forcement Of this policy. There is nc
Indication anywhere in the message
of thought of retreat from the square
deal. stand originally taken by the
president, nor the slightest admission
that this policy has been in any de
gree responsible for the present finan
cial trouble.
The statement formerly made by the
president in regard to exposed corpor
alton crookedness: 1.-THE administers
ton is responsible for turning on the
light, but is not responsible for what
the light showed" is repeated.
The president breaches more fed
eral activity in regulating interstate
commerce as much as matter OF
justice to the honest corporation as
to the individual shipper. Along this
hn IN vi
congressional action to prohibit mon
opolies formed to control the sale of
necessities of life or articles of gen.
eral use.
In regard to the financial situation
the president declares:
I'm 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
people to hoard money instead of keep
ing it in sound banks; for it is such
boarding that is the immediate occa-
sion of money stringency. Moreover,
as a rule. the business of our people
is conducted with honesty and probity,
and this applies alike to farms and
factories, to railroads and banks, to
all our legitimate commercial enter
prises.
I'm 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 COM
init their misdeeds with impunity.
their example is a very evil thing Tor
the community When the misdeeds
of these successfully dishonest men
are discovered. suffering comes not
only upon them. but upon the inno-
cent men whom they have misled. 1t
is a painful awakening, whenever it
occurs: and. naturally, when it does
occur those who suffer are apt to for
get that the longer it was deferred
the more painful it would be. In the
effort to punish the guilty it is both
wise and proper to endeavor 80 far
as possible to minimize the distress
of those who have been misled by the
guilty. Yet it is not possible to re-
frain because of such distres from
to put an end to the misdeeds
that are the ultimate causes OF the
suffering and, as means to this end,
where possible to punish those respon-
sible for them. There may be honest
differences of opinion as to many gov
policies; but surely there
can be no such differences as to the
need of unflinching perseverance in the
war against successful dishonesty"
The president here inserts a quo
tation from his 1905 message, making
plain his freedom from hostility to law
abiding corporations and reiterating
his policy of seeking to check either
organized capital or organized labor
only where either acts against law
and justice.
Immediate attention to the currency
problem is urged on congress. The
president advocates the adoption of a
plan of elastic currency which shall
be automatic and open to sound banks
and which would prevent the spasms
of high money and speculation which
obtain in the New York market.
I'VE need a greater elasticity In
our currency; provided, of course,
that we recognize the even greater
need of safe and secure currency.
There must always be the most rigid
examination by the national authori-
ties. Provision should be made for
an emergency currency. The emer-
gency issue should, of course, be made
with an effective guaranty, and upon
carefully prescribed by the
government. Such emergency issue
must be based on adequate securities
approved by the government, and
must be issued under a heavy tax.
This would permit currency being is
sued when the demand for it was
urgent, while securing its retirement
as the demand fell Off 1t is worth in
vestigating to determine whether Off |
GERS and directors of national banks
should ever be allowed to loan to
themselves. Trust companies should
be subject to the same supervision as
banks"
Favorable consideration of a postal |
savings bank is urged as an encour- |
agement to economy and thrift and to
prevent boarding of money. The pres |