The San Francisco call., 1908-03-22

than a thousand millions of dollars,
had in some instances used the assets
of the corporations in direct violation
Of law. Following this came the great
calamity at San Francisco. almost de-
stroying the sixth great city of the
nation, entailing a loss OF several hun
dred million dollars. and irnpoverishing
the citizens as well as the insurance
companies.
Then upon the heels of this disaster
We find the public officials of that city
charged with the violation Of almost
every trust, while the people were bat
Ting for existence. We also had the
grating and bribery that was UNI
arthed in at least three other impor-
t cities, and finally the exposure
Ugh finance, manipulations of the
Is of the great railroads, followed
Dy the conviction of their officials and
also Of large industrial corporations,
for utter disregard of the laws of the
nation and the state
when these things are considered
no one should express surprise that
the confidence Of the people had been
shaken.
PRESIDENTS WORK PRAISED
Ito you. Mr.. President, we accord
the credit due for compelling a respect
for the law by the great and small
alike
we believe that your work toward
higher morality will be remembered as
a milestone not only in the develop
ment OF the country's morals, but as
a milestone in the progress of the
world.
I've believe the business Integrity
OF the average merchant in this coun-
try is Of a higher standard than in
any other; we therefore, appreciate and
commend all the more your fearless
activity which has resulted in raising
the standard. and we realize that no
greater service has ever been rendered
our country.
NO great good has ever been ac-
complished without some suffering in
consequence. but we now urge you to
consider with extreme patience the un-
usual conditions that prevail, and, while
abandoning no expressed principle, to
adjust your executive actions TO the
requirements Of this period of business
timidity.
We ask you. Mr.. President. to indi-
cate 10 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 recommen-
dations by the executive
ANNOUNCES MESSAGE
"A subcommittee consisting Of Hall,
Wacker, Smith and Topping called on
the president at the executive Office this
morning, and they were informed by
the president that he would probably
communicate to congress next week ex-
plicit recommendations concerning the
legislation needed"
The president. Senator .Aldrich and
Representative Payne of New York.
Dalzell OF Pennsylvania and Hepburn
Of Iowa, participated in the conference
today. The chief subject considered
was tariff revision. but there Will be
other conferences at which other oues-
ttons viii be taken up in detail
An agreement was reached between
the president and the leaders of the
house and senate in favor of a declara-
ton for tarifr revision at a special ses-
sion TO be held after, March 4, 1909. It
was decided that the best manner in
which to prepare for the legislation
would be to have Investigations con-
Quoted by the ways and means COM
mittee Of the house and the finance
committee of the senate.
These Investigations will not be in