The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1907-02-03
Mr.. ROOSEVELT is
THE CHIEF FIGURE
Alleged Speech Furnishes the
Fresh Ammunition
BUSINESS MORALS BAD
Such Was the Tone of the Presidents
Alleged Address-Wall Street
Is Very Much Agltated
Over Sentiment.
BUSINESS MORALS BAD
BY w. G. NICHOLAS.

New York. February Especial. MIR.
Roosevelt has been the chief figure In
the Wall street drama during the past
week. Spectators for the decline immedi-
ately seized upon an alleged speech he is
said to have recently made as fresh am
munition for the bear campaign, and they
succeeded In driving prices down to the
lowest records In months.
The inference drawn from Mr.. Roose-
velts alleged remarks was that he be-
lieves that business morals are so bad
In this country that they must be cor
rected very soon to escape disaster 1t
is believed here In Wall street that Mr..
Roosevelt said what he did after hav-
inging been approached by leading bust
ness interests who desired him to make
some public statement that would reas-
sure capital. The operators for a de-
cline in stocks, as soon as they heard
of the Washington Incident renewed their
attack on the market.
Conservative Wall street interests, and
these are interests that represent the
conservative business interests of the
whole country. recognize that Mr.. Roose
welt has a stronger hold on the people
than any man who has ever occupied his
position. They recoknize, too. that any
fault finding with the Presidents poll
cies that originates in Wall street only
serves to strengthen his hold on the peo-
pie. Wall street expresses Its opinions
about Mr.. Roosevelt, but it prefers to
express them behind closed doors.
Even the metropolitan newspapers,
which are usually pretty freehanded In
their comment on Wall street affairs,
have been very guarded In their criti-
cisms of any of the Presidents policies
relating to affairs affecting Wall street.
But there has been a change in this re-
spect lately. The Presidents unrelentng
campaign for the regulation of CONNER
cial enterprises by the government, which
has resulted In harsh foreign criticism of
American business affairs, is arousing
the metropolitan newspapers one by one
to the gravity of the situation.
Is Going Too Far.
Some of the most conservative men
i'm the financial district, men who have
at times been friendly advisors of Mr.
Roosevelt at his request. believe tina t
he Is carrying his campaign of govern
ment Interference with the affairs of bus
mess too far. These men, however. rec
ognize that some of the recent revelations
in high finance. like those made in the
insurance investigation, have been of a
nature to give Mr. Roosevets campaign
against corporations a great popular
backing. These men have been with the
President in his efforts to promote pub
LEFTY in the management of public COM
panies.
They believe In publicity, but since
Mr.. Roosevelt has taken an aggressive
stand on the position that the federal
government can step In and decide what
profits a great business corporation may
be allowed to earn, these conservative
friends of Mr.. Roosevelt believe that
he has gone too far. The writer of this
correspondence has no intention of hold
ing brief for Wall street, or finding
fault with the President.
But it seems that the public generally
ought to know Just how conservative
men i'm Wall street talk in their inner
offices concerning the Presidents cam
paign. The heavy liquidation in stocks
while 1t has been due to various causes,
as pointed ont In this correspondence