Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-06-04
President Amused but inclined
to Anger Over Wall Street
Construction of Talk Before
Ada College Graduates.
CONSERVATION TOPIC
OF SPEECH AT DETROIT
Hope Held Out that Congress
Will Do Something on This
Important Problem with Rail-
road Bill Disposed Of.
IBy Morning journal Special rsased wirel

tBy Morning journal Special LEASED wirel
Detroit, June S,-Presidcnt Tatt
was half amused. half angry when he
learned today that reference 10 bus-
mess conditions in his speech before
the students OF the Ohio Northern
university at Ada had been made the
excuse for rumors in Wall street of Il
panic to come some time in the next
ten years
Mr.. Taft was telling the Young grad
yates before him what they might ex-
pect in life as to business pursuits
and the various professions,
To those who proposed to go into
business he merely gave voice to the
cautionary advice that conditions Of
prosperity must not be expected al
ways. The president regarded his re-
marks as entirely casual and that they
should have been made into predic-
tion of panic based on any prevail
ing conditions provoked him greatly.
This is what the president said 10 the
graduates
In the first place let us take the
business situation. II is. Of course.
impossible to expect that the enor-
nous growth i'm trade shall continue
in the proportion in which we have
seen it expand during the lost ten
years, and IL is reasonable ia suppose
that at some time within AZ next de-
cade there VIII he some reaction or
some financial stringency or perhaps.
a ilnanclal panic. Nevertheless, the
progress that has been made is real
and substantial. There may he a
halt, there may he a scaling down Of
wv.
time to time has always been follow
ed by recovery which Indicated only
a momentary lapse"
After having spent most of the day
at Ada. o.. where he addressed the
graduating class Of the Ohio North
ern university, the president was the
guest Of honor at a banquet Of the
board of commerce tonight
TO get the president to Detroit on
line required some rather Spectacular
ana the last hours run
rom Toledo into this city over the |
lake Shore tracks was made at an /
iverage OF 67 to 20 miles.
President Tart leaves early tomor- !
'ow morning for Monroe, where dur
ne the forenoon he speaks at the un-
'eiling of the equestrian statue OF \
ieneral Custer. In the afternoon the
PRESIDENT viii attend the dedication OF !
tablet at Jackson, to commemorate
he founding Of the republican party.
President Taft's speech at the BAN
luet tonight was extemporareous.
The president took up the subject
# the conservation of natural resour-
es as the theme Of his address.
We, he began, and then hesitat-
d..
THAT is wrong he added smiling
| h,.. Il
o exercise my constitutional function.
should say They are doing a mum
er of things in congress and ! hope
hey will do something final before ,
he summer is ended / can't discuss
pnight all they are doing but will say
omething about conservation {
II am glad to announce to YOU that
have just loarne dthat the railroad ,
i'll has just passed the seamte.'
The president was interrupted by /
n outburst of applause with that !
nportant legislation out of the way :
hope the senate will find a way To n
Ike up at an early date the conserv- ]
lion measures" 4
The president said he hoped. first +
all, for a law definitely ratifyng
lie right of the executive to Withdraw /
over sites and various classes of Z
1blic land from entry under the | :
omestead law, pending legislation for n
leir disposition undcr various re- q
rictions.
ITO use good old English express :
on he said, we will soon be in a
css if we don't. As an executive who 4,
as employed the right of withdrawal.
will not consider it reflection up C.
I any act OF mine If congress rati- \
es what 1 have done In this re- \
lect." =
The president declared that I'm con- 3
rvation, as in other matters of gov 1
II is necessary to be prac- +
al.
There are no altruists in this coun- d
y or any other who are going to in w
st their money merely to crafty a D
cory. We will have to offer 70 Id
ivate capital the prospect OF q fair %
oft IL development is To come. i
Conditions in Alaska for instance. 81
not speak wcll for u.s. They are
wing $40 and sig a ton for coal 81
there when there is an abundance n
be mined at their doors. We ought
stir ourselves and do something to {
Ia out this wealth that nature has
slowed upon MS so that we ourselves
ny enjoy il ana that we may secure
to posterity.
But certainly we should not shut
I the present generation entirely in
alinc with our natural wealth o.