Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-02-02

cline began In less than twelve months
it amounted to an average of more than
So is per cent Of all railroad. industrial:
and other stocks: grand aggregate Of
more than three billions of dollars
Finally the crash came. Cali the king $
army and all the kings men," Vnaided.
were helpless and poweress in the pres
ence of the widespread disaster that
threatened, but some of the hated and
most abused malefactors of wealth came
to the rescue. and, to the great relief Of
the whole country. stemmed the tide,
Gained the excitement and restored or
der.
Undertaking Articles at Discount.
Since then undertaking articles have
been at a discount. more wholesome
sentiment prevails. Men are beginning TO
realize that, after all. mankind Is not
worse. but better. than ever before, and
that the business men OF America are on
a higher and better plane today than At
any time in cur history.
One o. the most significant evidences
Of improvement in the public mind, as
we'll as In conditions. is found in the fact
that the Presidents message of Friday,
although 1t caused some advance alarm
and proved to be one Of the fierceSt ever
sent to Congress, yet, instead of pro-
ducing a bad effect on values, seemed to
stimulate the market. This was doubt
less. due to the fact that the whole coun-
try realizes that as the months pass and
the end draws nearer and still nearer,
Congress grows correspondingly more in
dependent, while the power of the chief
executive as constantly wanes.
The acute stages have been passed, but
the end is not yet. Our acres are as broad
and fertile as ever. our mines as produc-
tive; our capital is as abundant: our labor
is as good and our people are as anxious
to do business, but conditions continue
seriously unsatisfactory. The practical
question is: What is the remedy?'' Diff
ferent men will give different answers but
there are some points about which there
should be no real difference.
Mr.. Harmon's Address.
Mr. Harmon spoke on Ohio in Com
MERGE and Industry He paid warm
tribute to Ohio's progress in material
way as we'll as her influence for good in
the general government. He said in part:
Our people have been taught not to
look to the government. but to depend
on themselves. All they have asked is
that the public burdens be kept as light,
and private enterprises be left as free as
the due maintenance of the public peace
and morals permit.
This I have always believed to be one
of the reasons for the rapid growth and
development of Ohio and her four younger
sisters of the, northwest territory The
people have worked out their own des-
tiny; as they will continue TO do with
commerce and industry SO left free.
But as business has become more
complex the range of law has had to be
extended especially with respect to cor
porations, which are creatures-IoS the
state: public franchises which are
granted primarily for the good OF the
community at large. and combinations
contrived TO gain improper ends by means
and methods which are beyond private
reach or resistance.
las to the last | cannot discuss my sure
and simple remedy without violating the
prop-ieties of the occasion. | will say
word about the others. 1t is the, very
nature OF human authority that once 1t
takes hold it keeps increasing it's grasp
unless restrained. and here lies the danger
to private enterprises. the only productive
force there is or can be. So we must see
creased and the scope of their action is
extended the Judge and the policeman
still stand as the chief embodiment of
government in it's relations with the
citizen.
Enlarged regulation is new condition
which every one must recognize as neces-
sary, but public interference cannot SAFE
ly be pushed beyond the bounds of whole
some regulation.
Take the railroads: They have played
the chief part in the development of the
country. They have reached out in every
direction. This has been accomplished by
private enterprise, which employs in the
railroad billions of capital and the ac-
tivities of more than a million citizens.
Abuses have grown uD which have
called for corrective laws. such as re-