The sun., 1908-02-02

than ever before and that the business men OF
America are on higher and better plane to-
day than at any time In our history
One OF the most significant evidences Of
Improvement in the public mind as well as
In conditions Is found In the fact that the
Presidents message Of yesterday. although
it caused some advance alarm and proved to
be one Of the fisrcest ever sent to Congress-
and having the hearty approval and indOrss-
ment OF Mr.. Bryan. yet had no special effect
on values. doubtless due 20 the fact that the
whole country realizes that as the months
pass and the end draws nearer and still nearer
CONGRESS grows OOrrespoDdingly more indo-
pendent. while the power Of the Chief ExeCu-
tive as constantly wanes.
THE REMEDIES
The Senator then turned TO the reme-
dies. taking up first the needed leRialatiOn.
The Sherman act. he declared should be 90
amended as to permit reasonable, lust and
fair combinations and agreements" OF
the Hepburn rate law he said:
The commodity clause. as it 10 called. Of
the Hepburn rate law should be 40 modified
as to make it apply only where vested rights
and valid Contractual OBLIGATIONS are not
affected. This provision was particularly
intended to compel the separation OF the
ownership and operation OF the anthracite
coal fields from the carriers that own them.
In opposition to the proposition it was pointed
out that the roads acquired these properties
under State laws that authorized them to do
30 and that millions OF securities had been
issued against the Joint properties and that
they had been secured by mortgages that
prohibited cay alienation or separation, and
that II would be impossible for that reason to
sell and transfer or otherwise separate the
properties even il buyers could be found
but that did not matter.
Vested rights and impossibilities must not
be allowed to stand In the way OF the rate
bill or anything anybody might want to put
in IL. provided only ii was something that
would respond to public ClamOr. The fact
that this clause goes into effect on the first
day OF May. 1908. prohibiting all railroads
from carrying in interstate commerce any
commodity Of their own production except
lumber. unless for their Ownuse. under heavy
penalties of fine and Imprisonment. now
stands continuing menace. not only to the
roads involved but to their many millions OF
securities. and will seriously hinder a restora-
tion OF confidence and prosperity until IL IL in
some manner modified or Obvated. II when
the first day OF next May comes this clause
shall not have been repealed. modified or in
some manner provided against it Is dificult
to eNaggerate the bad results that will follow.
knowledge of this fact has had it's share in
bringing on our present conditions and il
IL now retarding recovery. To remedy this
AIOhule Will uflD IN an important WAV 10 ReJ
back TO where we we're
Some things can be done shat will help
without any legislation. The separation
by our Constitution Of the legislative, judicial
and executive powers should be observed
and enforced II was intended that the
judiciary should be separate and indepen-
dent. II was intended that the Legislature
should be separate and independent. II
was intended that the executive should be
.w1 srI.
ingly provided that each department shall
have its own duties and that neither shall
interfere with the other except only as author
ized by the Constitution.
For more than a hundred years the Con-
stitutiOn has been found equal TO every
emergency. We have prospered under it
as no other nation ever has prOspered. II
provides how the people may amend il.
In no other way should there be any thought
Of changing it. and particularly there should
be no further talk about changing it by
judicial construction. Such suggestions in
spire lack Of confidence not only in business
conditions, but in the judiciary. which is
indeed the sheet anchor OF our institutions.
few days ago there we're two decisions
by the courts. one by the Supreme Court
of Pennsylvania, annullinR the two cent
passenger rate law. and the other by Judge
Mcpherson. United States District Judge
sitting at Kansas city. uphoding the right
OF nonresident corporations sued In State
courts to transfer such cases 90 the Federal
courts. which were of incalculable value
TO the whole country because Of the moral
effect upon efforts to restore confidence and
bring about restoration Of prosperity
Finally, il would be most fortunate II
paddock could he provided for the muck
rakers-all of them. high and low. big and
little. well intentioned and evil intentioned.
for it Is high time to quit slandering the
American people. They never less deserved
It, They were never more worthy of praise
and commendation. There were never higher
ideals and moral standards among the bust
ness men OF the nation and there were never
better methods employed by them for the
control and transaction of business In this
we should not only 1nd hope and inspiration
but also command 10 administer our public
affairs on the theory not that all men are
dishonest but that with the exception OF
the few all men are upright. and that as to
even the few who may not be upright they
are entitled to the presumption that they are
and to have a right to be heard before they
are condemned.
The discussion OF party politics should not
be introduced on such an occasion. but
trust | may without improperly express the
belief that II, In addition to what has been
suggested. The next President will be content
and proud. as any man might well be. 70
execute plain, simple. old fashioned Republ-
can policies instead OF his own. our prosper
ity will not only come again but permanently
abide with as.
John d. ArchboId followed He had this
10 say
John ID. Arc chbOid'S speech.
greatly appreciate toe compliment shO wn
me In the r-iuest that say q word tonight.
1 would not dare attempt { II did not know
that 1 am in the house Of my friends You
will. l am sure. br CHART sDls toward my halt
ing tongue, for having spent nearly forty
four years Of my short life in a somewhat
strenuous effort to restrain trade and COM
merce in petroleum and its prOductC through
out the United States. the District Of Column
bia and in foreign countries. I have had little
time or opportunity for crltivatInR the art
OF public speaking
beg on behalf Of my friend and almost
lifelong business associate Mr. John D.
Rockefeller. to express his great regret over
his inability to be with us. He appreciated
very highly the invitation 10 be a g1sst OF
the society and speak tonight and was
only prevented from doing so by uncon-
trollabie circumstances. No nlan living
values the good opinion OF his fellowmen
more highly than be. and this Ia peculiarly
true in regard to the people of Ohio the
state with which his life has been so closely
Identified in the business and persooai way.
may be pardoned fora personal exprssslon