Evening journal., 1908-01-31
PRESIDENT SCORES CRITICS
OF THE ADMINISTRATION

the proper movement OF traffic. I think
II must also have authority to deter
nine the conditions upon which cars
shall be interchansed between different
interstate railways. II Is also prob
able that the Commission should have
authority. in particular instances, to
determine the schedule upon which
perishable commodities shall be moved.
hits Stook Market Gambling.
Il do not know whether it is possible.
but II possible, 1t is certainly desirable.
that In connection with measures TO re-
strain stock watering and overcapital-
izauon there should be measures taken
to prevent at least the grosser forms
Of gambling in securities and COM
modities, such as making large sales
OF what men do not possess and "cor-
nering' the market Legitimate pur-
chases of commodities and of stocks
and securities for investment have no
connection whatever with purchases
OF stocks or other securities or COM
modiues on a margin for speculative
and gambling purposes. There Is no
moral difference between gambling AT
cards or in lotteries or on the race
track and gambling in the stock mar
ket. One method Is lust as pernicious
TO the body polite as the other I'm kind,
ard IN degree the evil worked Is far
greater. But It is a far more difficult
subject with which to deal The
great bulk Of the business transacted
on the exchanges is not only legiti-
mate 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. IL would seem
that the Federal Government could at
least act by forbidding the use of the
mails. telegraph and telephone wires
for mere gambling in stocks and
futures. just as It does in lottery trans
actions.
Charges Corporations With Untruth.
fulness.
I tnclose herewith statement is
sued by the Chief Of the Bureau Of
corporations In answer to certain
statements made by and on behalf Of
the agents Of the Standard OH Corpor-
alton and a letter OF the Attorney
General containing an answer to cor
tain statements. also inclosed, made by
the president of the Santa Fe Railway
Company. The Standard Oil Corpora
ton and the railway company have
both been found guilty by the courts
Of criminal misconduct, both have been
sentenced TO pay heavy fines; and each
has issued and published broadcast
these statements, asserting their in
nocence and denouncing as improper
the action Of the courts and juries In
convicting them Of guilt. These state
ments are very elaborate, are very in
genious. and are untruthful in import
ant particulars.
THE attacks by these great corpora
tons on > administrator actions
have b-en given a wide circulation
throughout the country. in the newspa-
pers and otherwise. by those writer's
| and speakers who. consciously or un-
consciously. act as the representatives
OF pre iatory wealth-of the we alth ac-
cumulated on a giant scale by all forms
, OF in'quity. ranging from the oppres-
! sion Of wageworkers to unfair and I'M
wholesome methods Of crushing out
competition, and to defrauding the
public by stock jobbing and the manlp-
ulation of securities. Certain wealthy
men OF this stamp. whose conduct
should be abhorrent to every man Of
ordinarily decent conscience, and who
commit the hileous wrong of teaching
our young men that phenomenal buni-
ness success must ordinarily be basel
on dishonesty, have during the last few
months made it apparent that they
have banded together to work for a
reaction. Their endeavor Is to over
throw and discredit all who honestly
administer the law, 70 prevent any ad-
ditional legislation which would check
and restrain them. and to secure il
possible a freedom from all restraint
which will permit every unscrupuIous
wrongdoer TO do what he wishes un-
checked provided he has enough
money. The only way to counteract
the movement in which these men are
engaged is to make clear to the public
just what they have done in the pas
and just what they are seeking to ac.
complish in the present
1.-THE administration and those who
support its views are not only not en-
gagged in an assault on property. but
are strenuous upholders OF the rights Of
property.
TO CONTROL LAW Defying Wealth
Under no circumstances would we
countenance attacks upon law-abidine
property. 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 in
sist upon conduct and neither wealth
nor property nor any other class dis
tinction. as being the proper standard
by which 20 judge thea ctions Of men
For the honest man Of great wealth
we have a hearty regard, just as we
have a hearty regard for the honest
politician and honest newspaper W.
attack only the corrupt men of wealth,
who find in the purchased politician
the most efficient instrument of corrup-
ton. and in the purchased newspaper
the most efficient defender OF corrup
tion. 1t is not the puppets. but tho
strong cunning men and the mighty
forces working for evil behind and
through the puppets. with whom w,
have to deal We seek to control law
defying wealth; in the FIRST place {
r,ravanf its doinp dire evil IN fha Re