The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1908-03-23

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befship o. about $500 business men.
corporations, firms and individuals,
engaged n the agricultural interests
OF the Middle West, declared that 4
condition q unrest and stagnation in
business has resulted from Influences
and events which they detaH in the
following Language:
The starting Of this period Of un-
rest and distrust was the exposure
brought about BY the insurance in
yestigation in New York, where II
was shown that the trustees Of cor
porations acting for millions or our
people, and representing in assets
more than a thousand million Of dol
lars, had in some Instances used the
assets of the corporations in direct
violation of law. Following this
came the great calamity at San Fran
cisco, almost destroying the sixth
great city of the Nation, entaiiing a
loss of several hundred million dol
lars, impogerishing the citizens as
well as the insurance companies.
Then upon the heels. OF this dis
aster we find the public officials of
that city charged with the violation
of almost every trust. while the peo-
pie were battling for existence. We
also had the grating and bribery that
was unearthed in at least three other
important cities. and finally came the
exposure a high finance, manipuia-
lions Of the assets Of great railroads,
followed by the conviction of their
officials and also those of large in
dustrial corporations, for utter dis
regard Of the laws of the Nation and
the State.
When these things are considered
no one can express surprise that the
confidence of the people should be
shaken,
To you, Mr.. President. we accord
the credit due for compelling a re-
spect of the law BY the great and
small alike.
Then the address to the President
combined praise for his past course
with an appeal for his future action.
as follows:
We believe that your work toward
business morality will be remember
ed as milestone, not only in the
development of this country's BUSH
ness morals but as milestone in
the progress of the world.
We believe the business integrity
of the average merchant in this
country is of a higher standard than
in any other; we therefore appre-
ciate 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-
comDlished in any times without
some suffering in consequence, but
We now urge you to consider with
extreme patience the unusual condi-
lions that prevail. and while aband-
oning no expressed principle to adj
just your executive actions to the re-
quiremehts OF this period Of business
timidity.
We ask you, Mr.. President, to in
dictate to the Congress the corrective
measures you deem 1t necessary to
take We believe that the first sten
towards resumption of normal bust
ness conditions can be taken by the
Congress in response to explicit
recommendation by the Executive.
Secretary Loeb in his statement,
after giving the foregoing, says:
"A subcommittee, consisting OF
Messrs. Hall. Wacker, Smith and
Topping, called on the President at
the executive office, and they were
informed by the President that he
would probably communicate to Con-
gress this week explicit recommended
tons concerning the legislation need
ed"
The President, Senator Aldrich and
Representatives Payne. of New York,
Dalaell of Pennsylvania, and Hep
burn, Of Iowa, participated In the