St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-02-08
THAT HOT MESSAGE Z!
No White Feathers Show
i'm Presidents Outline
OF His Position.
No War Against Honest
Capital and Honest.
Fair Methods.
Extracts From Message.

Extracts From Message.
l do not know whether it is possible,
but if possible it is certainly desira-
Bile that in connection with measures
to restrain stock watering and over
capitalization there should be meas
ures taken to prevent at least the
grosser forms of gambling in securi-
ties and commodities, such as making
large sales Of what men do not pcs
sess and "cornering'' the market.
Legitimate purchases of commodities
and Of stocks and securities for in
vestment have no connection whatever
with purchases of stocks or other Sc
curities or commodities On a margin
for speculative and gambling purposes
There is no moral difference between
gambling at cards or in lotteries or
the race track and gambling in the
stock market. One method is just as
pernicious to the body polite as the
other in kind, and in degree the evil
worked is far greater But it is far
more difficult subject with which to
deal. The great bulk of the business
transacted on the exchanges is not
only legitimate, but is necessary to
the working Of our modern industrial
system, and extreme care would have
to be taken not to interfere with this
business in doing away with the
"bucket shop" type of operation We
should study both the successes and |
the failures Of foreign legislators who, /
notably in Germany, have worked |
along this line, so as not to do any
thing harmful. Moreover, there is
special difficulty in dealing with this
matter by the Federal government in
a Federal republic like ours. But if it
is possible to devise a way to deal
with it the effort sheuld be made, even
if only in cautious and tentative
way. It would seem that the Federal
government could at least act by for
bidding the use of the mails, fele-
graph and telephone wires for mere
gambling in stock and futures, just as
it does in lottery transactions.
The administration and those who
support it's views are not only not en-
gagged in an assault on property, but
are strenuous upholders of the rights
Of property. The wise attitude to take
is admirably stated by Governor Fort,
Of New Jersey, in his recent inaugural
the principles which he up
holds as regards the State being of
course identical with those which
should obtain as regards the nation.
Under no circumstances would we
countenance attacks upon law-abiding
or do aught but condemn
those who hold up rich men as being
evil men because of their riches. On
the contrary, our whole effort is to
insist upon conduct, and neither
wealth nor property, nor any other
class distinction, as being the proper
standard by which to judge the ac-
tions of men. For the honest man
of great wealth we have hearty re-
gard, just as we have a hearty regard
for the honest politician and honest
newspaper. But part of the move
ment to uphold honesty must be
movement to frown down dishonesty.
We attack only the corrupt men of
wealth, who find in the purchased
politician the most efficient instrument I
of corruption and in the purchased
newspaper the most efficient defender
of corruption. Our main quarrel is
not with these agents and representa-
tives of the interests. They derive |
their chief power from the great sin
lister offenders who stand behind them
They are but puppets who move as
the strings are pulled It is not the
puppets, but the strong, cunning men
and the mighty forces working for
evil behind and through the puppets
with whom we have to deal. We seek !
to control law-defying wealth; in the
first place, to prevent it's doing dire
evil to the republic, and in the next
place to avoid the vindictive and dread |
full radicalism which, if left uncon-
trolled, it is certain in the end +, :,
arouse. Sweeping attacks upon p n
property, upon all men of NEAR "a
without regard to whether thew da
well or i'll, would sound the death-I mall
OF the republic; and such attach 3 ba.
come inevitable if decent citizer . ra.
nit those rich men whose liy es ~.
corrupt and evil to domineer N su,oI
len pride, unchecked and uni ,inaer,d
over the destinies of this cor ntry. We
act in no vindictive spirit, s.nd We ara
no respecters of persons. IF a 1abor
union does wrong, we oppose If as
firmly as we oppose corporation tba+
does wrong; and We stand equally
stoutly for the rights of the man nf
wealth and for the rights Of the wape
worker. Weseek to protect the nro7,
erty O. every man who acts honestly.
Of every corporation that .renraeants