The Washington herald., 1908-03-11
Casting Anchors TO Mindmnrd

Concurrently with the issue by the Man
who Takes the Blame, Of the Taft literary
bureau, of publication designed to show
! that Wall street was lining up for Taft,
there appeared in Wall street itself some
very cheerful rumors from Washington
respecting an understanding between the
leaders OF the Republican party and the
great financial interests II was said. ac-
cording TO the New York Journal OF Com
merce, that Wall streets purse strings
would be relaxed in consideration Of
less hostile treatment on the part of the
politicians" There was a story also that
no objection would be interposed to an
increase In railroad freight rates in or
der to preserve the present wage scale.
or course. il is unwiSe 10 attach too
much Importance to these tales of the
street, but 81 would, not be difficult to
show that the Republican leaders, par
ticularly In Congress. are throwing out
anchors to windward in every possible
direction Nor Is il inconceivable that
railway managers should have received
assurances that advances in freight rates
would be complacently regarded at the
White House. for the President has more
than once. in his public utteranees, de-
clared that the railroads would need more
Income to pay higher wages and 10 ex-
tend and better their properties. An in
crease in interstate freight rates. how
ever, cannot be prevented by administra-
tive action, save on complaint Of a ship
per- but public sentiment could not be
safely disregarded I'm making such a
move, and it may be safely assumed that
the railroads viii not attempt IL unless
sure that their action win not arTord an
excuse for political and legislative attack
from the party in power.
If we turn TO Congress, We shall quickly
see that the trend OF events IS such as 10
give Wall street every reason to be
happy The programme there Is 10 pre-
vent all legislation that will give offense
to any interest. political. financial. or 9TH
erwise. and to put through only such leg
islation as will obviously inure 10 the
advantage Of the party In power. We
have already shown how the tariff lead
ers have put the protected interests on
notice that II they want what they want
they must come TO the Republican party
to get il, and the negative attitude OF the
Congressional leaders on important legis-
lation that would affect other Interests"
is equally a notice that il this negative
attitude is 10 be maintained Il would be
we'll 10 re-clect a Republican Congress.
II would be a strange thing If the politi-
cal situation should be misunderstood by
any one who has heretofore contributed
to Republican campaign funds The old
game is 20 be played in the old way.
Now. If Secretary Taft wishes TO clear
himself from this unsavory political fir
tation with the interests" he should do
as Mr.. Bryan has already done; he should
declare that. il nominated. he will not
allow the Republican National Committee
20 accept a single dollar from persons or
interests in expectation of Executive or
legislative favors. He should make it
known beyond cavil that the next Presi-
dental campaign. SO far as he is con-
cerned, VIII be free from the taint of
money corruption, and that he will be
bound by no promises. made or implied.
in order 20 relax Wall streets purse
strings. In short. he should come out
squarely against any repetition of the
scandal of 1904 II Mr. Taft and his
friends have not been angling in Wall
street. somebody else has. and the War
Secretary ought to put his foot down
hard on the whole nefarious business Of
exchanging legislative and Executive IA
vors for campaign funds.