The Washington herald., 1908-03-22
MODIFIED MESSAGE
TO BE SUBMITTED


by the fear Of the people as 70 the stability Of SOME
Of our institution. Money has been hcsrded in
stead Of howiaS into the ordinary ehsrnels Of in
vestmentsecurities and the various commercial in
terests.
Two primary causes are responsible for this condi-
ton. First. the gross violation Of law by cor
Dorations and grafting by some public officials. and
secondly. deficient currency system, wholly in
capable Of responding TO needs Of commerce when
fear and uncertainty are engendered in the minds
Of the masses
The starting Of this period Of unrest and distrust
was the exposure brought about BY the insurance
the trustees Of corporations acting for millions OF
our people and representing In assets more than
s. 900 900 000 had IN instances used the assets
Of tho corporations in direct violation Of law
Following this came the great calamity at San
Francisco almost destroying the sixth great cty OF
the nation. entsiling loss Of several hundred nil
lions Of dollars impoVerishing the citizens as We'll
as the insurance companies.
Then. upon the herls Of this disaster we find the
public officials Of that CITY charged with the violation
Of almost every tnsst while the people battling
FOR existence We also had the grating end bribery
that was unearhed in AZ least three other important
cities
Finslly came the exposure Of high finance. ma
nipnlaton 0f the assets Of great rairoads. followed
by the conviction Of their officials and also those
Of large industrial corporations for the utter disre
gard ot the laws OF the nation and the State.
When these things considered one can er-
lIees -uffrl~r ttcN lhe fuDndentt OF lhe isTftAt
should be shaken
To YOU Mr.. President. We accord the credit due
for compelling a respect Of the Law By the great
and the small alike We believe that your work
toward business morality will be remembered A
milestone not only IN the development Of this coun-
trys business morals. but as a milestone IN the
progress Of the world.
We belisTe the business integrity Of the average
merchant in this country Is of q higher standard
than IN any other. We Therefore. appreciate and
commend al the more yeuT fearless activity which
has resulted IN raiSng the standard and realize
that greater service has ever been rendered our
country.
No great good has ever been accomplished in any
times without some suffering in consequence. but We
urge YOU 10 consider with eXtrcme patience the
unusual conditions that preTail sBl while abandon
ing no expressed principle to adjust your executive
actions 70 the requirements Of this period ot bust
ness timdify.
We ask yoa. Mr.. President to indicate 70 the Con
gress the corrective measures you deem l. necessary
70 take. We believe that the first step toward re
sumption of normal business conditions he taken
by Congress IN response to explicit Recommendation
BY the Executive.
A subcommittee. consisting OF Messrs.
Hall. Wacker. Smith. and Topping. called
on the President at tho Executive Office
yesterday morning. and they were in
formed by the President that he would
probably communicate to Congress next
week explicit recommendations concern
ing the legislation needed.