The herald-advance. (Milbank, S.D.) 1890-1922, 1908-02-07
MARTIN At
Mitchell
Former Congressman Defines Roose'
velttsm...Cemmon. 6onesty Of
Our FOrcfdthcrS
POLICIES MUST CONTINUE
Roosevelt IS Conducting a klndcrgar.
ten In Business NOrdlS...ElO.
qucnt Address
Mr. Chairman ana Gentlemen:

Mr. Chairman ana Gentlemen
This meeting has already more than
justified the great expectations of its
promoters and friends. ! am sure that
we are today making history in the
onward march of true republicanism i'll
South Dakota. (applause) The idea in
calling this meeting was to hrlng TO-
gcther in friendly consultation, repre-
sentative republicans from all part Of
the state to confer upon matters ~
state wide and national impnrtanvr,
and especially to make certain IN :"
far as South Dakota can exert an IN
tiuence, and that directly. that the sig
n~ificant policies OF the Roosevelt adj
min~istratlon shall continue TO be the
policies of this nation for the immcdi-
ate wears to come.
What are those policicst Simply this,
That the principles Of common honesty
which your father and mother installed
into vour mind when a child shall be
declared and enforced as the law of the
world.-and that the ethics of the gol-
den rule shall be recognized as furnish
ing the proper standard for commercial
transaction between men who are after
all simply brethren in one great com
mon family cf mankind. lApplausc)
The old simple virtues of our fore
fathers are best. (Applause) They en-
tered into the very warp and fbr" Of
the constitution. They furnished the
solid material for the foundation of ouI
institution we are building the super
structure of the nation, social, polltl-
cal aud Industrial.
This is the age of industry through
out the world. In the race for com
III nrrial supremacy our country has now
fairly distancel all competitors. Our
accumulated wealth is greater than
that of any other nation. Our prodnc-
tion of bread stuff. meats. md manu-
features is much larger than is re
quired at home. Our exports are much
greater than our imports. giving us a
large balance of trade in our favor
annually, making ii easy to maintain
our gold reserve. This under the law
must not fall below $3.50. 000. 900. 90. 1t
is in fact now $3.50 600. 0O0. 90. Gap
~plause1 1t is true we are tasting the
effects of a stock spectators panic.
(Laughter) The financial centers of New
York and Chicago have become So ac-
customed to using large deposits of
western banks that they scarcely INC
how to do business without them. The
west is now keeping much of its money
at home. and the financial centers are
crying out to the government for help.
But these conditions are temporary.
The surplus wealth of the country is
so great that the panics of the future
will be local in character and of short
duration.
R,} %ho uap~ rraatpoSS ~ N nrnS
peritv has brought upon us new and
serious problems that will require the
best and most unselish craftsmanship of
preserve the corporation AS a neces-
sarv factor in our business activies
without destroying the opportunity Of
the individual citizen; how to compel
the big corporations to run under the
law instead Of in violation of it; the
proper use and distribution of wealth;
how to curb the greed of the strong
and multiply the advantages of the
weak;-and how in this age of univer-
sal commercialism to preserve and
augment the dignity and nobility of
American citizenship.
The Roosevelt administration has been
conducting a kindergarten in business
morals. (A~pplause) Some men and some
interests had to be taught that grand
larceny is no more respectable that
petty larceny. The stock game of Wall
Street is as disreputable as the faro
game of the Bowery.
Hereafter the game of business must
not be played with loaded dice. (App.)
The doctrine Of the ''square deal'' is
to be applied to the business of the
Nation. A "square deal' is a fair
deal for everybody. Hereafter the man
with his car of wheat or cattle or gold
ore is to receive the same treatment
as the corporation with it's train load.
(Applause)
The evolution Of the big corporation
has been both natural and inevitable.
Our great transportation lines, embrac-
ing 100000 miles Of railway from
ocean to ocean could have been con
structed and operated in no other way
unless the Government had been the
common carrier. Our gigantic strides in
manufacturing and our sharp and sue
cessful competition with other coun-
tries in reaching out after the commerce
of the world could never have been
achieved if we had been compelled to le-
pend upon individual capital and enter
prise alone. The mistake has been
made, not in so freely chartering these
companies, but in turning them loose
among our business activities, wholly
without official regulation or control,
and without accountability anywhere
for what they might do or not do.
The great majority have doubtless
been managed decently and honestly
but there are some notorious excep
tions. When q great corporation is
managed dishonesty, it affords an op
portunity to a few men to amass enor
nous fortunes at the expense Of stock
holders and the public. The big corpor
atoms must therefore be regulated botl
on account Of the good that it must do
and to avoid the evil of which it il
capable when misdirected.
A good beginning has been made il
this direction. Until recently the CHIEF
evil in our transportation system wa
the practice of rebates and special priv