Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1907-08-21


can be reached criminally will be
some subordinate who is not the real
guilty party at all.
Many men of larger wealth have
been guilty OF conduct which from
the moral standpoint is criminal. and
their misdeeds are to a peculiar de-
gree reprehensible, because those
committing them have no excuse Of
want, of poverty. Of weakness and fg-
nOrance to offer as partial atonement.
When in addition to moral RESPONSE
bility these men have legal RESPONSE
sibility which can be proved so as to
impress a judge and jury, then the De-
partment will strain every nerve to
reach them crimnally. Where this is
impossible, then it will take whatever
action will be most effective under the
actual conditions.
In the last six years we have shown
that there is no individual and no COR
poration so powerful that he or it
stands above the possibility of pun
ishment under the law.
During the present trouble with the
stock market l have of course, received
countless requests and suggestions,
public and private, that I should say
or do something to ease the situation.
There is worldwide financial disturb
ance. 1t is felt in the Bourses of Paris
and Berlin and British consOls are
| lower, while prives of railway securi-
ties have also deprecated. On the New
York Stock Exchange the disturbance
has been particularly severe. Most of
| it, / believe to be due to matters not
particularly confined to the United
States. and to matters wholly uncOn-
meet ted with any government with ac-
| ton, but it may well be said that the
| determination of the government in
| which, gentlemen. it will not waver, to
punish certain indicators Of great
wealth, has been responsible for some
thing of the troubles at least to the ex-
| tent of having caused these men to
combine to bring about as much 1inan-
| cial stress as they possibly can in or
der to discredit the policy Of the gov
| ernment and thereby to secure re-
| versal OF that policy SO that they may
enjoy the fruits of their own evil do
| ing. That they have miSled many good
| people into believing that there should
| be such reversal of policy is possible,
| If 50, I am sorry, but it will not alter
| my attitude. Once for all let me say
| that as far as l am concerned and for
| the IS months of my administration
| that remain there will be no change
| in the policy we have steadily pur-
| sued, no let up in the effort to secure
| the honest observance of the law, for L
| regard this contest through their gov
| ornamental agents or Il few ruthless and
determined men whose wealth makes
them particularly formidable, because
they hide behind the brcast-WOrk of
corporate organization.
| I wish there to be no mistake on this
point. 1t is idle to ask me not to
| prosecute criminals rich or poor But
| I desire no less emphatically to have
it understood that we have undertaken
ami will undertake no action of VIM
| dictive type and above all, no action
| which shall inf1ict great or unmerited
| suffering upon the innocent stock hold
ers and upon the public as whole
Our purpose is to act with the min
imum Of harshness compatible will
obtaining our ends. In the man OF
great wealth who has earned his
| wealth honestly and used it wisely we
recognize a good citizen worthy of al
| praise and respect. Business can only
he done under modern conditions
, through corporations and our purpose
is to heartily favor the corporations
that do well. The administration ap
nreciatos that liberal but honest pro
fit for legitimate promoters and gen
ercus dividends for capital employed
either in founding or continuing al
honest business venture, are the ldr
tors necessary for successful corporat
activity ard therefore for generall
, PROSPEROUS business conditions.
"All these are compatible with TAI
dealing as between man and man an
rigid obe dence to the law. Our ann
IN holm every honest man, every hones
. cornoration and our policy means Il
l tic ultimate analysis Il healthy an
,rosnorous evanston of business &C
. tiyitics of honest business Hie"
- honest corporations.
: ,.or,, earnestly hope that the iegis
: Lotto, which deals with the reguiatlo'
~ cornorations engaged in 1nters''''
u husiness will also deal with the ris''
49,, interests of the wageworkcrs en-
y rIoyad nv those corporations. Ac'io'
ros taken by the Congress iast yea
,;,,;+;np the number of hours that ran ,
[ o,, enployees should be empioSe"
THO law is q good one: but II IN Prae'
l .,%yn 9TH n
tice It proves necessary to strene'hel
il II must be strengthened. we nave
now secured a national employers ia
h;litv law: but ultimately more far-
ra,ching and thorough going law mus
he nassed. 1t is monstrous that
man or woman who is crippled IN al
!. industry. even as the result of taklnt
, what are the necessary risks or th'
: occupation, should be required to bea
the whole burden of the loss. ma
. burden should be distributed and no
, placed solely upon the weakest inn
vidual, the one least able to carry ii
BY making the employer liable IN
loss will ultimately be distributed
among all the beneficiaries of tn
. | business.
also hope that there will be leEisla
:. ton increasing the power Of the Nationa
. Government to deal with certain matter
concerning the health of our people every
where: the Federal authorities. for in
T stance should join with all the state au
r thorities in warning against the dreadful
scourge of tuberculosis. Your own Stat
80 4ln