Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-02-14
TAFT AT DETROIT.

ASSOCIATION TO-DAY, talked Tor halt an
hour at the luncheon which was ten
dered him by the association upon
The Moral Awakening Recently from
Business Methods Which Permit IL
legality and Fraud"
The address was the elimination Of
busy six hours in Detroit.
On arriving in the city at Il o'clock
from Grand Rapids. with NJ. JUS
serand. the French ambassador, Gov.
Curtis Guild Jr.. of Massachusetts,
United States Senator Smith Of Michi
gan, Gov. Warner and several other
speakers of last nights Lincoln Club
banquet in that city. Sec Taft and the
party We're driven to the Hotel Pont-
chartrain. The secretary greeted sew
eral thousand people at a public re-
ception which began Immediately af-
ter the arrival at the hotel.
Throughout his stay in the city his
every appearance in the street was the
signal for cheers and enthusiasm
More than 500 We're 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
leries
Former United States Senator
Thomas w. Palmer presided as toast
master.
Gov. Warner, while voicing his
states welcome to the secretary
brought a tremendous outburst of en-
/ thusiasm when he declared he was
convinced that 50 to 80 per cent. Of
the people of Michigan were for Mr..
! Taft's nomination for the Presidency
on the Republican ticket The COVER
nor then suggested Gov. Guild for the
nomination for Vice President on the
ticket with Sec. Taft
Amt assador Jusserand was given 81
rousing welcome when he was pre-
sentea ty Toastmastcr Palmer for a
short Aaddress. After declaring that
because of his position he could not
NEEDLE in American politics. the am
hassador culogiZed the American
Presidents and said it was his wish
and hope that the country, when it
elected another President would add
another glorious name to the already
glorious list of names. Il do not know
who he will be-" said the ambassador,
but it seems that You know" APP
pause Interrupted him for several mo-
ments.
Secretary Taft opened his address by
remarking that a stranger might sus-
pect the Michigan Retail Lumber Deal
erS Association had more to do with
politics than with business. I'VE have
u" I'd he continued, "a great deal
.tcOatlv in connection with the moral
awakening from business methods
which Permit illegality and frauds"
He spoke of the revelations of the
insurance investigation and then of the
evils of over-issues of stocks and
bonds. which he said was obtaining
money under false pretences Taking
~ the question of railroad discrimi-
nation and recent legislation to pre-
vent relating he said
The truth is, gentlemen, that VIC
have not quite enough regulation of
railroads. Other powers ought to be
conferred on the Interstate Commerce
Commission. 1t is said that the Inter-
state Commerce Commission is not
safe way in which to control the rail-
roads of the country. 1t is the only
way in which we can control them
We must see that we secure strong
men to sit upon that commission who
can prove by their administration that
II is the proper way 1t is that or so
to government ownership with all the
state socialism which It involves and
I have no doubt that government owr-
ership of the railways with the trc-
mendous Capitalization Of power it
would involve would endanger the re-
public. We have sought power in
Washington now.
Il believe it is possible to enforce
the present antitrust law. but we need
a law more specific to bring ali within
its provisions. l think that today the
violation of the laws by no means so
fashionable as it was formerly.
NOW we are not going to have a bust
ness millennium, gentlemen, but we shall
have uuickened public conscience and
an eye on whether we have business de-
or have business conducted
within the terms of the law. Tie people
have walked up.
"We have just had a panic. Some of
the Gentlemen who have felt the lash
to attribute it to the legislation to which
nave ISltIlSu- iIC Nilo' &c -
ed. 1t is due, if students of finance are
to be trusted. to the gradual exhaustion
of all the free capital of the world in
enterprises which have not been SO profit
able as it was expected that they would
be. Now we must wait. the whole world
must wait. until We earn more free cap
ital.
There is no doubt but that European
investors in our securities have been
frightened by the revelations of dishon-
esty which have been shown of late in
many of our large institutions. But is
the man who pointed out that dishon-
esty to be charged with this lack of con-
fidence, or is it to be charged to the gen.
tlernen who engaged in the illegality?
1t is not necessary to argue"
Secretary Taft left ct sos o'clock for
West Point. n. Y, where he will attend
the graduation at the Military Academy
tomorrow
Arthur I. Vorys. manager of Sec.
Tafts Presidential campaign. arrived
III the city today to meet the secretary
and talk over the political situation
When his attention was called to the
statement OF Senator Foraker last