The sun., 1908-11-01
EaUIN IN BRVAN'S POLICIES
ROOT WINDS UP THE STATE
CAMPAIGN FOR TAFT.

Emu npOt uuuIeSoOu y le'be hpNseS'
at Durlapd's Riding Academy last eve mug
Organised by the West Side Republican
Club. whose proud claim II Is that IL
hung out the first Taft and sie-m11
banner swung In New York! The chair
man of the meeting was Assistant United
States District, Attorney Wise. The big
hall waa orpamented with hags and
bunting. and there were pictures of the
national candidates hanging from a
balcony back Of the stage. 80. 80
There was no picture OF Gov. Hughes
there and call was made from the
audience before the meeting began for
the Governors picture. whereuppn some
member of the management promptly
I. secured several and posted them among
the Autographs of MIR. Taft and Mrs
Sherman.
Horace White, candidate for Lieutenant
Governor was the first speaker introduced
by Mr.. Wise. Mr.. White began by say
ing: THAT vas a remarkable soene that
a countryman witnessed from Murray
Hill to-day, when saw that mighty host
marching up Fifth avenue. 1t was an
assurance to me that the people Of this
imperial city intend to do their duty
next Tuesday"
Voice from the hoor-'You bet your
hfei" -
Mr. White and everybody else smiled
and then laughed out loud. Mr.. White
DEVOTED himself mainly to State issues.
although referring to national ques-
tions briefly. After mentioning the
Administration's activities In pursuit
Of predatory wealth he said: "We are now
drifting out upon a 1calIner sea. 1t is
fortunate that the next President is to be
an accomplished statesman.' a..
Secretary Root. who had been cheered
when he walked upon the stage. was
received with a warm welcome when he
arose to speak.
sGoy. Hughes. said he, appears TO
have chased Lieut.-Gov. Chahler clear
across the racetrack and into the woods.
tLaughter1" (" "
LESSON FROM THE MORSE TBIAL.
with this remark Mr.. Root left State
issues and devoted himself to national
questions. The audience applauded his
reference to President Cleveland as that
rugged, patriotic man." And they ap-
plapded him aeain with approyingiaughter
when he turned aside from his speech
to refer to, the Morse trial and it's pro-
voking circumstances. Mr. Root was
speaking at the time OF Mr. Bryan's plan
OF Government guarantee for all banks.
when, turning toward Mr.. Wise. he said:
IF the evidence is true that has been
offered here in the great trial that has
been going on in this city for several
weeks-I do not know whether it is true
or not-the effect of Mfr. Bryan's scheme
would have been that the safe and con-
s,rvative bankers of New York would
bave been standing the Losses Of the ice
pools and the steamship combinations
that wrecked the National Bank Of North
America. While II those schemes had
succeeded thess bankers would not have
received the profits--those would have
gone to the schemers.'
Mr.. Root said:
speech of Elihu Root.
FELlow CITIZENS: wish to state some
reasons which lead me to believe that
Mr.. Bryan's election to the Presidency
would be followed by general and long
continued business disaster: that the
recovery, now in progress. from the
panic of last year would stops that PRO-
duction would be curtailed. many work
men thrown out of employment. wages
lowered, the market for farm products
and manufactures reduced and the in
come upon investments OF private indi-
viduais, OF savings banks and insurance
companies. OF charitable and educa-
tional institutions in a great measure
cut on. and that long period OF stag
nation and distress would ensIe, snch as
we experienced between 1879 and the
election Of Mr.. Mckinley in 1898.
whatever may be the development OF
our industrial system in the future. no
considerable, productive, enterprise goes
on under the present system without
the use OF capital as well ae, labor. Some
times in this combination capital gets
more than its fair share OF the profit
and sometimes the capital Is lost alto
gether. and then there is no profit and
there are no more wages coming from
the enterprise that has failed. just as
productive enterprise stops when there
is a strike because labor is not satisfied
with it's wages. 80 productive, enterprise
stops when the owner OF capital ceases
to believe that he will get back his it-'
vestment with a profit. ! believe that
thoughtful men generally realize that
the effect Of labor unions in securing fair
and steady wages and just conditions
for labor is beneficial to the whole COM
munity. the employer as well as the
employed. 1t is equally clear: that sta
bility, certainty and natural. even
development in law. administration and
social conditions are important for the
welfare OF the whole community, emr
ployed as well as employers. because
these are necessary to- enable investors
to forecast the future and form reason
able Judgment as to whether IL. they
put their money into productive enter
prises they will make profit or viii lose
what they put in, ... r..,
Threats 81 violent changes which make
II impossible to form a Judgment. as TO
the future course Of business, still more,
threats of changes which present the
probability of loss. check investment
and therefore check production imme-
diately. The essential feature of all
business depressions is loss OF confidence
in the future. Without confidence in the
future the manufacturer is bound'to re-
duce his purchases OF raw materials and
his output. Without confidence in the
future the merchant is bound to reduce
his stock to the lowest possible point