New-York tribune., 1908-02-14
PEOPLE AWAkE-TAFT.
CAUSE OF RECENT PANIC.
Secretary AdrOcates More Aathoraty
for Interstate Commission

Detroit Mich Feb. 1s-secretary Taft. who
was the guest this afternoon OF the Michigan
Retail Lumber Dealers Association. talked for
half an hour a. the luncheon rendered him by
the association upon ~The Moral Awakening
Recently from Business Methods which Permit
Iegality and Fraud
The address was the culmination OF busy
six hours In Detroit Arriving in the city at II
O'Clock from Grand Rapids. in company with NJ
Jusserand the French Ambassador. Governor
Curtis Guild Jr Of Massachusetts,; United
States Senator William Alden smith, OF Michi-
gan; Governor Warner and several other speak,
ers at last nights Lincoln Club dinner in that
city Secretary Taft and the party were driven
TO the Hotel Pontehartrain- The secretary
greeted several thousand persons public re-
ception- which began Immediately after his ar.
rival the hotel.
Throughout his stay in the city the secretarys
every appearance on the street was the signal
for cheers and enthusiasm. More than six
hundred men were gathered about the tables IN
the banquet of Harmonic Hall 10 greet
Mr. Taft when he arrived there. wfth several
hundred more and women. it's capacity.
seated in the gallery
Thomas w Palmer. former United States
Senator. presided toastmaster.
Cover Warner, while voicinS the states
. welcome to the secretary, brought tremendous
convinced that SD to 30 per cent of the people
of Michigan are for MIR Taft's nomination for
the Presidency on the Republican ticket The
Governor then suggested Governor Guild for
the nomination for Vice-President the ticket
with Secretary Taft
Ambassador Juss-rand received laundering
welcome when he was presented by the toast
master for a short address. The ambassador
after declaring that because Of his position he
Amer
eulogfze,l the American Presidents Of the pass
and present and said that il was his wish anu
hope that the country, when il elected another
President, would add another glorious name 70
the already glorious list of names Il do not
know whom he shall be-" said Ambassador JUS
serand. but it seems that you know.
Applause interrupted him for several mo-
! ments.
Secretary Taft opened his address by remark
ing that stranger might suspect that the
Michigan Retail Lumber Dealers Association
had more TO do with politics than with business
we have heard he continued "a great deal
recently in connection with the moral AWAKEN
ing from business methods which permit iiie-
gaIitv and frauds He spoke of the revelations
of the insurance investigation and then OF the
evils of over issues of stocks and bonds. which
he said was obtaining money under false pre-
tences. Taking up the question of railroad DIS
rebating, he said:
I The truth is gentlemen that we have not
quite enough regulation OF railways Otner
bowers ought TO be conferred upon ,he Iht.r-
state Commerce Commission II is SAID that ne
Interstate Commerce Commission Is not SdIe
way in which controF the rallrcaus Oh e.io
country. 1t is the only way IN wIiicn On, 1900
control them We must see that we secure
strong men to sit upon that commission VINO
can prove by their administrator tnat " IS @ ILe
proper way. II is that or go TO SoVerumssnne
ownership with ali the state socialism Wnlen
il involves and have no doubt that governments
ownership of the railways. with tne trehienuous
concentration of power it would Involve VOuIo
endanper rhe republic We have enough con-
centrated power in Washington now; 10 IN,
crease in So that the Executive should ccntroi
the enormous body of civil servants. which would
necessarily follow, would result IN mahlns q
President more powerful than any king VINO
/ believe IT is possible 10 enforce the present
antitrust law. but we need new law more
specific 10 bring all within It's provislons- 4
think that to-day the violation Of the law Is by
no means so fashionable as it was formerly
Now we not going TO have business
,,iIIoni,,n, gentlemen but we shall have quick
ened public conscience and an eye on "hetner
we have business Decentralization or have olsl-
ness conducted within the terms or the law me
people have walked up
we have just had panic. Some Of the gen
tIemen who have felt the lash of public opinion
have been only too glad to attribute III 10 the
legislation to which / have referred The eharse
is unfounded- 1t is due II students OF nnancs ss
all the free capital of the world IN enterprises
have prOntaDIe as u VdS
evnected they would be. Now We must walt
,he whole world must wat-until we earn moro
free capital L.
There is no doubt that European investors IN
our securities have been frightened by the reVe-
Iatfons Of dishonesty which have been shown or
late in MANY of our large institutions But -
the man who POINTED out that dishonesty 10 De
charged with this lack of confidence. or IS II 10
he charged to the gentlemen who engaged IN
the iesaIitye II is not necessary TO argue
Secretary Taft left Detroit at sos O'Clock FOR
,.-{f ov7d IA
graduation exercises at the Military Academy
morrow.
Arthur l. Vorys. manager OF Secretary Tafrs
Presidential campaign in Detroit to-day to
meet the Secretary and talk over the political
situation When his attention called to the
statement of Senator Foraker last night that
the Ohio primaries were so managed that none
but Taft supporters would take part in them and
that the Taft victory in the primaries is OF no
Significance Mr.. Eorys carefully dictated the
following statement
The struggle in Ohio what little there ever
was of it, is over. Every one in Ohio knows IL.
and believe IL is useless for any one 10 attempt
10 make people in other states believe that TAFT
will not have the solid delegation or that there 6
vas not fair opportunity to make any coptest
at the primaries that any one desired 10 make
in Ohio