Rocky Ford enterprise., 1908-03-27

The support Of tho business and H.
nancial interests Of the Middle West
was ylcdked to the President on this
program following an extended confer
ence held ut the White House.
A. the conclusion Of the conference.
the following statement was made pub
lie by Secretary Loeb:
held mt the White House last evening
with tho following representatives Of
commercial bodies Of the Middle West:
Richard C. Hall. chairman. prssi.
dent Chicago Association Of Com.
,mcrce: J. v. Farwcii. Jr.. member Of
the Chicago Association Of Commerce:
Charles II. wnckcr. member of Chi
cAEo Association Of Commerce: James
". Smith. president st. Louis Business
lAen'a League: fcstus J. Wade. Of exc
cutivc committee 81. l.ouix Business
Mems League: II. II. Topping. prcsi.
dent Of the Kansas City Commercial
club. e. ~. clcndcni,!ns. secretary Of
kanxas City Commercial club. the fol
lowing address was presented 10 the
Presidont and there vas u full express
sion Of views both on tho part Of the
President and tho committee:
Mr.. Prcsidcnt-Thc organizations
We represent have . membership of
about $500 business men. corporations,
firms and Individuals. engaged In the
dcvclopm~at Of the agricultural rc
sources and the manufacturing. com
sncrcial and financial interests Of the
MidtAe West. In the pursuit of our
various lines of business wc como In
coatact with almost every portion Of
tho country. but especially Of the Mis-
sissippi valley.
We never were In more prosper.
ous condition than prior TO the panic
of last fall. Our labor Was all cm.
pioycd. our capital proii,abiy Invested.
In q short period these conditions have
changed. Certain lines Of business are
almost siaxnani. brought about by the
fear Of tho people as to the stability
of some Of our institutions. Money
has been boarded instead Of flowing
into the ordinary channels Of invest.
mcnt. securities and the various com
ucrciai interests.
Two primary causes arc respon
sibic for this condition. First. the
gross violation Of Law by some cor.
porations and grating by some pub.
lie ofiiciAls. and. secondly. a deficient
currency system, wholly incapable Of
responding TO needs Of commerce when
fear and uncertainty are cnEcndcrcd
into tho minds OF the masses"
The statement then cites the insut.
ancs fraud exposures. tho San Fran.
cisco earthquake and firc. followed by
sraft exposures. and the corrupt manip.
uiaiiou Of the assets Of the great rail.
roads. II goes on to say:
TO you. Mr.. President. wc accord
the credit due for compelling re-
spcct for the Law by the great and the
small alike.
I'VE believe that your work toward
business morality will be remembered
az . milestone not only In the dcvei.
opment OF this country's business
morals. but ~ a milestone In the prog.
rcss Of tho world.
"'No great good has ever been &C.
complained In any times without some
suffering In consequence. but we now
urge you to consider with extreme pa.
thence tho unusual conditions that pre-.
vail and. while abandoning no ex.
pressed principle. to adjust your exc.
cutive actions to the requirements Of
this period Of business timidIiy.
I'VE ask. you. Mr.. President. to in.
dictate to the Congress the corrective
measures you deem IL necessary to
take. We believe that the FIRST step
toward resumption OF normal business
conditions can be taken by the Con.
gress In response to explicit recon-.
mendatjons BY the executive