The Washington herald., 1910-06-04
TAFT At DETROIT
ON CONSERVATION
Denies Predicting Anything
Like Money Panic.
THERE MAY BE A LAPSE
straighteBs 0ut Report of His Ada
(Ohie) speech Before Addressing
the Board OF Commerce Banquet,
with Gov. Warner, Senator Bur-
rows, and Other Prominent Men.

Detroit June 3.-President Taft sug-
gesJed tonight that the reports that
Wall street had understood him. to pre-
dict a financial panic, in his speech TO
the students OF Ohio Northern Uniyer-
sity. Ada, Ohio. were ridiculous.
1t is impossible TO expect that the
enormous growth in trade shall continue
/ in the proportion in which we have
/ seen it expand during the last ten years, F"
J said the President, and il is reasonable
/ 10 suppose that at some time within
I the next decade there will be some Teac-
/ tion or some financial stringency, or per
I haps a financial panic Nevertheless, the
/ progress that has been made is real and
substantial There may be halt; there
may be q scaling OF values. but these
we have had from time 70 time, followed
| by a recovery. which indicated only a
| mOmentary lapse"
Speaks on Conservation.
Conservation. one of the Presidents
favorite topics was the subject of his
address at the board of commerce ban
quet here tonight. Gov. Warner. Sena-
tor julius Caesar Burrows. Representa-
tives Townsend and DENLY. and Assist
ant Secretary Of the Treasury Hilles We're
among the distinguished guests. Senator
William Alden Smith got out of a sick
bed to attend.
The President reached the city at 40,
He was driven through streets lined with
thousands of people to the Light Guard
Armory, where he spoke.
The President told his auditors that
there is an underlying sentiment in the
country for conservation, bat neverthe-
less just what it really means is but little
understood The legislation which MIR
Taft wants comes to pass. that affects
the nations natural resources. was cut
lined at some length
The Extent of Conservation.
In summing up conservation, the
President declared the word included
many things-the use of waterways. the
prevention of waste in everything nature
affords US. in the prevention of soil ero-
sion, the preservation of the forests, and
| the stoppage Of the exhaustion Of mineral
resources.
Mr.. Taft. at one point in his speech
when referring TO the administration bill
providing for Withdrawals by executive
orders. declared that he did not venture
to speak for his predecessor. Col. Roose-
velt." 7 am glad TO announce" he
said in his speech, that the railroad bill
has passed the Senate That will enable
those who are interested in such bill
as is needed in this connection 10 bring
it on
I'VE have enough to do to run our gov
ernment at Washington said the Presi-
dent. without going into the business Of
mining coal or developing water power.
The situation in Alaska" Mr.. Taft
declared. does not speak well for this
country. They are paying sl2 ton for
coal up there, and we got Alaska in 1863
Declines 10 Talk Tariff.
Il have an idea" the President said IN
conclusion, that Gov. Warner quoted
statistics in order that he might draw me
into a discussion of the tariff. I decline
TO do that
Gov. Warner had quoted figures to
show Michigan's greatness.
Senator Burrows. who spoke after the
President. fired by the news from the
Capitol. talked about commerce and the
railroads. lie said that our domestic
commerce Of So, 200, ,0o00OO is greater than
the commerce of all the rest of the
world. One of the great questions OF
the day. he pointed out, was that Of ship
subsidy Statistics showed that IN the
last few years we have turned over to
foreign bottoms most of our vast COM
merce.