The daily morning journal and courier., 1907-11-01

subject, however, will say that gath erings of this kind where the burning questions of the day are discussed in a frank and friendly way, are produc- tive of good fellowship, and good re- suits. Different minds view important events from different standpoints, and any association that Meets for this purpose with a desire to obtain by mutual discussion, the fairest and best understanding relating to public meas ures, is doing a patriotic service, and Ms worthy of the highest commenda- tion. It is particularly so at a time like this, in view of the prevailing de- pression and distrust.
 It is very fortunate that presiden- tial election does not take place this year, as the people are in such state of uncertainty and apprehension that many well-meaning men would not, I fear, vote with desire for their colin- try's good, but be biased by personal interest or determination to obtain revenge for what they have lost by the great and prolonged decline in the stock market and the disturbance of credits.
 It is, of course, greatly to be de- plored, that some of the men high in command in the Industrial and rail- road companies have abused the trust reposed in them and made it impera- tive for the president to instruct the attorney of the national government to investigate their doings, and prose- cute those corporations and their of- ffcers charged with using their corpo- rate powers to do illegal acts, like re- batting, and such chicanery as that of the Chicago and Alton reorganization. The fact is that, in nearly every such instance of government prosecution, the, guilt of the parties accused has been proved on their trial, justif1es President Roosevelt in his action.
 While capital may continue tinid until the whole truth is known and confidence in corporate management restored, the agitation, will, in the end, prove beneficial to the country; for it will purify all by eliminating the un- lawful evils complained of This will l inspire foreign capitalists as well as our own with confidence: and they will invest heavily in American seeura ities, just as soon as they feel assured i that the surplus earnings of our ral,- way and industrial companies will be fairly divided among the stockholders under honest management, regulated by law, and subject to federal and state supervision.
 Recent events have shown that drastic action was necessary to insure a square deal for all. Mr. Roosevelt is not attacking capital, but he is at tacking those in control of corpora tions who have misused their power i and position to do illegal acts and pre- sumably for their personal profit Confidence received blow after blow from this source, before getting an other rude shock through the ex- posures resulting from the Metropolis an Securities investigation eand the action of the New York clearing house with regard to t.4e Heinze and Morse l banks.
 ! It is now over two years since pub- lie disclosures of this kind, as we'll as of railway relating began, followed Iby the collapse of the copper manipu1a- tion and, very recently, by the scanda
 connected with the New York Trac.
 ton situation. No wonder, therefore
 that confidence is seriously disturbed
 And who is responsible? Not Presi-
 dent Roosevelt and MT. Hughes, the
 famous life insurance investigator who have been instruments of expos. : ure, but the individuals who conceived
 and conducted these unlawful opera.
 tions. Of course the guilty protes against financial house cleaning; ant
 they endeaYor to ward off official in-