The Greenville journal. [volume] (Greenville, Ohio) 1850-1918, 1908-01-09

tion OF capital by the Individual as a
blow at our whole civilization. But no
one can have been an observer of the
operation OF the exercise of the right OF
property and the accumulation of capt.
tai and It's use In business by the indi-
vidual and the combination OF capital by
the combination of individuals, without
seeing that there are certain limitations
upon the methods in the use of capital
and the exercise of the right of the
property that are Indispensable to pre-
vent the absolute control of the whole
financial system of the country passing
to "a small oligarchy of individuals.
The combination of capital Is Just as
essential to progress as the assembling
of the parts of a machine; and hence
corpora uons however large are instru-
ments of progress But when they seek
to use the mere size or amount of the
capital which they control to monopolize
the business in which they are engaged
and to suppress competition by methods
akin to duress they should be restrained
by law.
Retrogression Against Conservatism.
Again, | am earnestly opposed 10 the
government ownership of the interstate
railways that are the arterial system of
this country. Those railways should
continue to be managed by private cor
OratiDHS. Government ONutlShlp VI
railways means state Socialism, an in
| crease in the power of the central gov
eminent that woulI he dangerous II
would be Il long step away from the In
diyiduu which 1t IL necessary to retain
IN order to make real progress. But no
one could defend railway system in
which the unlawful Determinations by
secret rebates and otherwise We're prac-
tically without the limit in the interests
Il .s,,..f gNtVRsaN M
| shippers. These abuses can only be
| reached and ended by closely regulating
! the railways and putting them under the
| tribunal Wn.ch can Insist upon publicity
of business and in eases of complaint
can direct the exact remedy for the
| wrong.
If uAe abuses of monopoly and discrim-
| nation can not be restrained: if the con-
ccnIratiDn of power made possible by
| sucn abuses continues and increases and
| it is made manifest that under the sys-
| TEN OF iudiviGu1lism and private prop
| crty will perish.
| The administration has been thus fa
| successful in showing that dangers from
| mdividualiSm can be effectively regu-
| Il ted and that abuses in the exercise of
| private property can be restrained. Thus
Il great cons hrvative victory has been
| Won and the coming of Socialism has
| been stayed.
The question which you have ultimate
| N to meet Is not whether we shall return
| t. a condition of regulated railways and
| IL regulated trusts but IL is whether we
| sail maintain Il strict system OF regula-
| tiun of railways and trusts or whether
| We shall turn the country over to the
| advocates of government ownership and
| state Socialism. Any one who seek"
| rctrogradr step from tn" policy - the
administration ON the theory that it
| would be q real step toward Conserva-
| tism is blind to every political sign of the
| times.
If one attempts to fix the center of the
| conservatism Of the country he is likely
to fix it in New England. If he is seek
ing the community where appeals To
| righteousness, and justice a[alSen Il re-
sponsc he will find it in New England.
| Hence it is tnat I have ventured at this
! time and under the circumstances | have
| described to discuss the political aspects
| of this panic and to appeal to you,
| whether Democrats or Republicans. not
| to allow an acute condition involving
pecuniary loss and mental strain, serious
as it is, to lead you from broad, i'm
partial, just and patriotic view OF the
| situation.
Panama and Navy.
, In this widespread catastrophe l have
!
| body of business men and wage-earnerS,
| who know are honest and who have to
| bear the br,nt of ii. and | feel the
greatest sulicituGe nnd anxiety for their
| recovery. Eut | urge them NOT to allow
| their resentment ut conditi0nS to be
| made a weapon against the pubic veal
Secretary Taft in his dress at the
| ENsium Club described H." work Of dig
sing the Panama canal IN conclusion
Ii" said:
Il venture to say that We shall be
disappointed at first in the amount of
| business done in that canal. 1t doubles
| the efficiency of the navy. but in the
| matter of trade y0I can not turn it all
| at once, and ! viii say it will take 10
| wears to adjust the world to that new
method of getting round it. do not
believe we viii get our money out of the
| canal in great many years /" tn" ,o'm
| of tolls, but it is not necessary that We
should It is a great work of mankind
| that We are doing and we can well afford
| TO wait for any profit.
| And now about the navy. | am the
| secretary of war and that has Il very
| formidable and puSnacious sound. As a
| matter of fact. if we had war | should
| feel like resiguing. | do believe. from
| the sOleS of my feet to the top of my
| thin hair, that a navy maintained az il
| ought to be- because we have money TO
| maintain it, is an insurance against un-
| necessary war. Not that we should boast.
| BUT Il nation of so, G00, 000 people, who be-
| lieVc themselves as far advanced in civil
| iHation as any nation. should be in a con-
| diti0n where, when it is necessary to as
| sert themselves, they may do so not only
with dignity, but with something behind