Watson's weekly Jeffersonian., 1907-06-06
RooseveIt's indianapolis Speech.

by men Of national prominence on
Memorial day in various parts of the
country was that of the nations chief
executive at the unveiling of the Law
ton statue at Indianapolis, this being
the occasion of his long awaited deliv-
erance regarding the future of his rail-
road policy. Crowds of the presidents
admirers greeted him at every station
as he approached the Indiana capital,
and there a great throng Of people was
assembled to witness the unveiling
ceremonies. Governor Hanly presid-
ed and Miss Lawton, daughter Of the
late general, pulled the cord which un-
yelled the bronze figure Of her father.
James Whitcomb Riley read a poem
entitled "The Home Voyage"
The presidents address made it plain
that he intends to take no backward
step in the policy of federal control
of railroad and other public service
corporations which he had previously
mapped out in his messages and
speeches. It carries his policy even a
step further by calling for exclusive
federal control of all mail carrying
railroads, even though they may be
wholly within the boundaries of a sin
gle state. This he justifes under the
clause of the constitution granting to
the national government power to es-
tablish post roads, the implication be-
ing, as he thinks, power to take all
action necessary in order to keep them
at the highest point Of efficiency" He
personally would favor a national in
corporation act to give the roads the
seal of government approval and to
insure the same sort Of sanction and
publicity which the national banks en-
Joy. Nor does he halt at the much dis
cussed proposition to require a physi-
cal valuation Of the railroads Of the
country, and he expresses the belief
that while there has been stock water
ing in some cases the total capitaliza-
ton Of the railroads will not be found
to be in excess Of their present actual
value.
Declaring that "the rights Of proper
ty are in less Jeopardy from the Social
lists and the anarchists than from the
predatory men Of wealth." the presi-
dent insists that the criminal managers
Of public corporations shall be prose
cuted to the limit Of the law, but ex-
plains that this implies no possibility
of injury to honest railroad managers.
AS for the investing public, he makes
1t plain that there is not the slightest
disposition to undermine existing Sc
curities, and he believes that the policy
of federal supervision will not only
protect past investments, but will in
duce future investments, which are ur-
gently needed in order to build new
railroads and improve the trackage and
equipments of existing lines so as to
make possible the industrial develop
ment of the entire country. He does
not hesitate to say that "the move
ment to regulate railroads by law has
come to stay" and that the people have
made up their minds ito exercise
closer control over all kinds Of public
service corporations"
In conclusion he reminds the man Of
great wealth that while using and en-
joying it he must remember he Is a
trustee and that consistent mususe sis
ominous of evil to himself, to others
who have wealth and to the nation as
whole"
Union Pacific Mines Close.
Because the miners employed In the