The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1907-11-01
CARNEGIE is OPTIMISTIC.

Andrew Carnegie does not look upon
the financial situation with fear and
trembling. He is surprised that the
fall in stocks has been 80 small. This
proves to him that the situation is
not alarming and that the country
Is all right. He advises investors to
mold on. 1T should not be forgotten.
however. that we have had the great
est expansion OF modern times and sure
as fate reaction must come and has
already begun. but it will be health
full. We may have Il season of less
activity in trade. but that will he
followed in due time by another period
of expansion. Nothing can prevent
the rapid progress of the republic.
She is all right and bound to distance
i'll competitors in the race. Speculation
will be less to the front for a time,
but genuine business will not sui
Ter seriously. 1t lies in the nature of
things that the attempt to attribute
the recent and spasmodic fall in
prices to the wise in the truest sense
the truly conservative resolve of the
president and his cabinet to enforce
the salutary laws against the abuse
of their power by certain trusts, is
only device to serve political in
trigue'
The decline of prices Mr.. Carnegie
said. would have been greater had the
ment in the stocks and bonds of cor
porations are hereafter to be safe
guarded to a much greater degree
than ever before. Nothing is proposed
or intended by the president in this
direction which is not the law i'm
civilized states. No railroad corpora
ton in Europe can increase its capp
tai or its bonds on can merge with
another without first obtaining author
ity from a competent source. Even
Canada has its commission for this
purpose. 1t is not only right but
necessary to supervise such corpora
lions as we do our banks. They are
creatures of the state, enjoying many
ton must be protected. When this is
secured it will be seen that the presi
dent has been a truly conservative
force in the country, and that the
investor is now protected from being
swindled by small cliques of men who
abuse their fiducary positions as di-
rectOrs.
This panic will soon run its course,
as Others have. and pass by leaving
40 impeachment to the return in due
season OF another period of wholesome.
because needed, expansion of our re-
sources which are rapidly rendering
those of other countries of less i'm
portance This will reassure capital.
which will flow to us from abroad
even more abundantly than before. be-
cause our new laws will give such
security to the foreigner and our own
investors, hitherto lacking. Nothing
more is aimed at by the president
than such safeguards as the foreign in
weston has at home. Nothing of this
kind should be objected to by the
honest official. nothing less should be
demanded by the people, and nothing
less should the government give.
Let it be remembered that the presi-
dent has been urging vital reform for
years. during which prices have ruled
highest. and that he stands today just
where he did then and where it is to
be hoped he will stand until our
laws protect honest investors from dis
honest officials and their swindline
schemes New York is the best market
in the world. because our country is
the most profitable of all countries
for the investment of money and must
continue to be So All we have to dc
is to convince the world that oul
laws protect the investor as carefully
as those of other civilized countries
This is the presidents policy. He
should be supported in this work.