Hopkinsville Kentuckian., 1907-10-08
TAFT ON THE future
The Secretary Of War Considers
the Trusts.


Reform the Demasogues and the So
oialists May Get the Upper Hand and
Carry Legislation Too Far--Fait1 In
the American People.
In recent issue the Citizens BuT-
letin Of Cincinnati gives series Of ex-
tracts from the most recent addresses
of Secretary Taft. After taking up in
some detail the evils that have result
ed from the rapid development OF cor
porations during the past few years
Mr. Taft says:
without defending, mitigating or In
any way justifying the evils have
described, 1t certainly can be said that
they we're the outgrowth of the enOr-
nous expansion of business and Of
capital involved in the spreading bust
ness of the country and that, while
] they are to be depored and to be-
stamped out, II would be the utmost
folly to initiate and carry through
legislation which instead Of remedying-
the evil shall kill the enterprise and
investments which have gone on apace
to make this nation the great center Of
industry and production of the world.
And the danger now is that in the zeal
for reform demagogues, Socialists and
enemies of society may be given an
opportunity to carry on legislation to
such an extreme as permanently to
hamper the business growth of the
country.
"No injustice reacts so quickly as
injustice to capital, for capital can pro
tect itself, can stand a loss and with
draw and leave the community from
which it fees in a condition Of help
lessness that it win take years to over
come. While this is the danger from
the awakened public conscience on the
subject Of business integrity, let Us
not fail to rejoice in the enormous ben |
eft to the country which is involved in
the existence Of this public conscience, !
for it was quickeued into expression |
at a time when the greatest prosperity |
prevailed throughout the country, |
when lavished wealth made comfort |
for more people than ever before and |
when that luxury and hunt for pleas |
ure which led the Roman empire and |
other dynasties Of old to destruction |
It was prophesied would bring about |
the same fste for this republic. But
It has not done so, and in the face |
of comfort, luxury and pleasure there !
has arisen this protest from the many |
enjoying all the prosperity possible |
against the abuses and violations of |
the trust, and there has arisen u c.
for a higher business morality and 4
more sacred care and scruple In the
conduct of agents and trustees.
The PubIic's Demands.
'It is becoming more and more ccr-
tain that the public will insist oA |
greater publicity I'm the management |
of these great financial trusts, and
closer scrutiny into the methods ~
which the great combinations shGl /
continue and maintain their business, K
and a greater and greater care and rr |.
gard for the public with which til \
railroad and other transportation com Il
panies shall discharge the duties 4
which, In accepting valuable fran, /
ehises, they assume to discharge To-
ward the communities in which tteH Il
carry on their business.
The various provisions of law, til.e 4
tribunals and executive machinery B /
which these results are to be accom-
pIished, viii be the duty Of the comb,s
generation to work out and develop /
The responsibility of the wielder OF |
millions of capital which has hereto
fore accompanied his exercise. Of pow
er in the business communities, it fS
now settled. must have an end, and |
the limitation which shall effectually |
end it viii be dictated by experience
and the statesmannke acumen Of thr
coming generation.
'Such changes cannot be effected in |
a short time, Such changes cannot be |
brought about by a mere denuncia- |
ton and indiscriminate condemnation, |
whether delivered from a stump or !
contained In the provisions OF law
They must and viii be fashioned ultl-
mately by the hands of one or many
who shall realize the necessity for
maintaining the institutions Of private
property and the freedom Of individ
ual initiative, on the one hand, and Of
restraining the well recognized abuses
and ilegalities OF the exercise Of the
power Of concentrated wealth to
achieve monopoly by duress.
"Such regulation Is possible, and it
needs only experience and earnest ef-
fort honest and courageous and expe-
ditious courts, intelligent and fearless
juries, to enforce the regulations which
shall teach those who would otherwise
offend and misuse the power Of con
centrated wealth that 1t Is not only
moral and conducive to their happl.
ness, but also profitable to observe the
regulations that the quickened con-
science Of the people has insisted upon
introducing into the statute book"
A Sensible Ohio Council.
Tn oontrost m fha citV OOlinpiiq fhut