The Montgomery advertiser., 1908-02-14
TAFT-GUILD
 IS SUGGESTED This Ticket Would Suit
 Michigan. BIG SECRETARY IN DETROIT With N. Jusserand He Attends
 Luncheon. Tells Lamber Dealer. That Dishsnesty Is Net Fsshionabie Asy More.
 Depiores Coneentratisa
 Of Power.

Detroit, Mich, Feb. 13.--Secretary af War William H. Taft. who was the guest this afternoon of the Michigan Retail Lumber Dealers Association. talked for half an hour at the lunch con which was rendered him by the association upon The Moral Awaken ing Recently from Business Methods which Permit Illegaiity and Fraud
 The address was the culmination cf a busy six hours in Detroit. Arriving in the city at l2 o'clock from Grand Rapids, In company with M. JuEsefs and. the French Ambassador. Governor Curtis Guild. Jr., of Massachusetts. uni- ted States Senator William Alden Smith. of Michigan Governor Y. M Warner and several other speakers Ax last nights Lincoln Club banquet in that city. Secretary Taft and the party were driven to the Hotel Pontcliar- train.
 The Secretary gree.ed several khou- sand people at public reception which began immediately on his arrival ak the hotel
 Throughout his stay in the city. the Secretary's every appearance on the street was the signal for cheers and enthusiasm.
 More than 500 men were gathered about the tables in the banquet room of Harmonic Hall to greet Secretary Taft and several hundred more men and women were seated In the gallery. Former United States Senator Thomas ", Palmer presided as toastniaster.
 Welcomed by warner.
 Governor Warner, while voicing tnn States welcome to the Secretary. brought a tremendous ontburst of esN thusiasm when he declared that he vas convinced that eighty to ninety her cent of the people of Michi6an are for Taft's nomination for the k'raAr idency on the Republican, ticket. The Governor then suM8eNted uovernqr Guild for Vice Presiden4 on the tickek with Secretary Taft
 Arabaaeadof JusseHepd vas 8tyen thundeFiue Heleonea hen he rss pse- ''sssf ~, AInbAssAaof after dsefarAng tlsai hAea4ise gcf Iik position he natur&atg ca mot n eddie In American poifegnN eulogized tiie American PreSidents % the past and said that IL was hts wisH and hope that the country when v elected another President would edf another glorious name to the already glorious list of names
 q do not know whom he shall pe said Ambassador Jusawrand, put seenls that you know.
 IAppiause Interrupted him for seysral moments. .s
 Secretary Taft opened his adcress p remarkfng that stranger might susr meet the Michigan, Retail Lumber Deal. ers Association had more to do win politics than with business.
 we have heard" he continued, great deal recently in connection wltn fine moral awakening from business methods which permit ilIegaIIty snq fraud" ..x insurance investigation and of the evils of over-issues of stocks ana bonds which he said was obtaintn@ money under false pretenses' Takln@ in tha question of railroad otscriMls nation and recent legislation to pre- vent relating he said:
 'srhe truth is. gentlemen. .na. have not quite enough regulation ok railways. Other powers ought 10 p2 conferred upon the Interstate CoIas morca Commission. It Is said that ts@ Interstate Commerce Commission " no< a safe way in which to control tnN railroads of the country. 1t is the onsg way in which we can control tnem. must see that we secure strong men " sit upon that Commission who can proye by their administration it is fhe nroner way. It is that or go % Eovs ernnent ownership with all the state socialism which it involves and nave no doubt that government ownership ok
  centration of power it would inypAFcs would endanger the republic.
 'We have enough concentrated pows CT in WashinRton now. To increase iE so that the executive should c0nfro1 the enormous body of civil servants which would necessarily follow, would result in making President more powerful than any king who lives tos day.
 the present antitrust law, but we need a new law more specific to bring all capital within it's provisions. think that today the violation of the law is by no means so fashionable as 1t was formerly.
 Now we are not going to have s business millennium, gentlemen, but we shall have a quickened public cons science and an eye upon whether we have business demoralizatton or have business conducted within the terms ek the law. The people have walked up.
 "We have just had a panic. Some of the gentlemen who have felt the lash of public opinion have been only too glad to attribute 1t to the Legislation 10 which l have referred. The chnxga is unfoundsd. It is due. if students of finance are to be trusted. to the grad nal exhaustion of all the free capital Of the world in enterprises which have not been so profitable as 1t was exe pected they would be. Now we must walt, the whole world must wait. until we earn more free capital.
 There is no doubt but that European investors in our securities have been frightened by the revelations of dis- honesty which have been shown of lats In many of our large institutions- Bus is the man who points out that dishouz osty to be charged with this lack oe confidence. or is 1t to be charged toNthe gentlemen who engaged In the illegals ity? It is not necessary to argue.
 Secretary Taft left at SOS o'clock for West Point. N. r.. where he will tomorrow attend the graduation exer-