The morning journal-courier., 1908-02-14
ENOUGH FEDERAL POWER SAYS TAFT In a Speech at Detroit He De- clares Further Concentra-
 tion Would Endan-
 ger Republic.
SOCIALISM THREATENING
Commerce Commission is Capable Of Solving the Railroad Problem Government Ownership
 a iallacy.

of War William H. Taft, who was the guest of the Michigan Retail Lumber Dealers association to-day, talked for half an hour at the luncheon which was rendered him by the association upon The Moral Awakening Recently from Business Methods Which Per init Illegality and Fraud
 The address was the elimination of busy six hours in Detroit
 On arriving in the city at F o'clock from Grand Rapids with M Jusse- rand the French ambassador Cover nor Curtis Guild, jr., of Massachu- sets; United States Senator William Alden Smith of Michigan Governor Warner and several other speakers at last nights Lincoln club banquet in that city, Secretary Taft and the party were driven to the Hotel Pontchar- train. The secretary greeted several thousand people at public reception which began immediately after his ar rival at the hotel.
 Throughout his stay in the city his every appearance on the street was the signal for cheers and enthusiasm More than 500 men gathered about the tables in the banquet room of Harmonic hall to greet him when he arrived there and several hundred more persons were seated in the gall lery.
 Ex-tTnited States Senator Thomas W. Palmer presided as postmaster.
 Governor Warner while voicing the states welcome to the secretary brought tremendous outburst of en- thusiasm when he declared he was convinced that 80 to 90 per cent. of tho people of Michigan were for Taft's nomination for the presidency on the republican ticket The governor then suggested Governor Guild for the nomination for vice president on the ticket with Secretary Taft.
 Secretary Taft opened hls address by remarking that a stranger might sus- pect the Michigan retail lumber deal CTS association had more to do with politics than with business. We have heard" he continued, "a great deal recently ln connection with the moral awakening from business methods which permit fllegalty and frauds He spoke of tho revelations of the insurance investigation and then of the evils of over-issues of stocks and bonds which he said was obtaining money faI H'o1y ytf,~ [ i,r question of railroad discriminatione and recent legislation to prevent re- batting. he said.
 The truth is, gentlemen, that we have not quite enough regulation oi railways Other powers ought to Dc conferred upon the interstate com merce commission It is said thal the interstate commerce commission is not a safe way in which to contro the railroads of the country It i' the only way in which we can contro them. We must see that we secure strong men to sit upon that commis. sion. who can prove by their admins. tration that it is the proper way i is that or go to government owner ship. with all the state socialism which it involves. and 1 have no doubt tha' government ownership of the rail. roads, with the trenfcndous eoncentra. ton of power if would involve, would endanget the republic. We have enough concentrated power in Wash. ington now. To increase it so tha the executive should control the enor. nous body of civil servants, which would necessarily follow, would result in making a president more powerful than any king who lives to-day.
 q believe it is possible to enforce the present antitrust .aw, but we nee( new law more specific to bring al within it's provisions. I think that to- day the violation of the law is by n, means so fashionable as it was form. erly.
 Now we are not going to have a bus mess millennium. gentlemen. but wt shall have quickened public consci cnce and an eye on whether we hav' business demoralization or have busi ness conducted within the terms ol the law The people have waked up.
 "We have just had panic. Som' of the gentlemen who have felt the lasl of public opinion have been only to' glad to attribute it to the Legislation to which I have referred. The chare' is unfounded It is due, if students o finance are to be trusted, to the grad ual exhaustion of all the free capita of the world in enterprises which hav not been 30 profitable as it was expect cd they would be. Now we must wait { the whole world must walt until VI earn more free capital
 There is no doubt but that Euro rean investors in our securities hay been frightened by the revelations O ] dishonesty which have been shown O | late in many of our large institutions But is the man who points out tha dishonesty to be charged with this lacl i of confidence, or Is it to he charged | the gentlemen wno engaged in the il | legality It is not necessary to argue. j Secretary Taft left at SOS o'clock fo 1 West Point. N. Y. where he will at tend the graduation exercises at tn military academy to-morrow