The San Francisco call., 1908-11-01
ROOT SEES DANGER
IN BRYAN'S IDEAS
Secretary of State Brings Cam
paign to Close at New
York City Rally

NEW YORK, Oct S1.-With Secre-
tary OF State Root as the chief orator
the republican speaking campaign for
the national ticket in New York city
practically was brought TO close to-
night in a rousing rally at Durlandi s
riding academy The large hall was
crowded. The secretary described what
he maintained would be the manifold
dangers with which Bryan's election
would menace the country.
The secretary. received a warm greet
ing Wlen. he entered the hall and a YER
itable ovation when he rose TO speak
he saidin part;
I wish TO state some reasons which
lead me 10 believe that Mr.. Bryan s
election TO the presidency would be
followed by general and long continued
business disorder. that the recovery,
now in progress, from the panic of last
year, would stop; that production
would: be curtailed, many workmen
thrown out of employment, wages low
cred the market for farm products
ana anutactures reouceos ana tne ~ IN
come upon Investments Of private in
dividuals. of savings banks and insur-
. ance companies, of charitable and edu-
cational institutions, IN great meas
ure .cUt off, and that long period OF
stagnatiOn and distress would ensue,
such as we experienced between 1893
and the election Of Mr.. Mckinley in
1886.
=
Whatever may be the Development OF
our Industrial system in the future, no
considerable productive enterprise goes
on. under the present system Wltnout
b. the: use OF capital as well as labor.
Sometimes in this combination capital
gets more than its fair share of the
profit. and sometimes the capital is lost
altogether, and then there Is no pront
and there are no more wages coming
from the enterprise that has failed
. Just as productive enterprise stops
! ~ ? frrara -E o go q
not satisfied with its wages, so pro-
. ducttVe enterprise stops when the
owner. Of. capital ceases TO believe that
ne. VIII get back his investment with
:. + believe that thoughtful men, gen
- erally,- realize that the effect Of Ia abor
unions, in securing fair and steady
wages and just conditions for labor, is
beneficial 70 the whole community. the
employer. as well as the employed. II
is equally clear that stability. GER
tainty and natural, even development
in law, administration and social conci-
tiOns are important for the welfare
of the whole community. employed as
well as employers, because these are
necessary TO enable investors TO fore
cast. the future and form a reasona Bile
Judgment as to whether II they put
their money into productive enterprises
they will make a profit or will lose
what they put in.
CHANGES CHECK PRODUCTION
, = Threats of violent changes, which
make Il impossible 10 form a judgment
as to the future course Of business, still
more. threats of changes which present
the probability OF loss. check invest
rnent: and. therefore, check production
Immediately.
The essential feature OF all business
depressions is loss Of confidence in the
future without confidence in the fu-
ture 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 hiss stock to the lowest possible
ro5rt without confidence in the fu-
fure railroad and industrial securities
securities can not be sold. new con-
Sfructfon.- extensions and renewals nee
.essarv ito keep pace with active busi-
ness development can not be made.
: 8. All. these mean men out of employ
Y1ert- and. wages reduced. and men out
~ : euiDiovments and wages reduced
riear a decrease OF the purchasing
J. newer OF the country, so that the
nrod nets. Of the farm and the factory
uziil not find a market, and their fail
! ire 10; frld. a market would necessarily
fea6- TO grill further contraction and
fhe continuance Of the process until
some great event, like the resumption
= 81 fpecie payments, Of 1873 or the elec-
ton OF Mckinley in 1896, happens to
restore confidence
7 car not doubt that the election. of
Mr.. BRYAN. would destroy the confidence
necessary 70 the continuance Of Indus
trial and commercial enterprises; and
7 think that his election would justly
aeee~oxy confidence