New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-12-16
DINERS REUSED FOR TAFT
Wild Applause When Stimson
and GriggS Praise President.
HONOR SECRETARY OF WAR
Dinner of Republican Club Turns
Into Demonstration for Head
Of the Nation.

PrPSldent Idlt POSITION on tne trust
problem the achievements OF his admins
tration and his candidacy for denomination
were heartily applauded last night at the
dinner given by the Republican Club OF the
CITY of New York to Henry l. Stmson,
Secretary Of War.
Mr. Stimson spoke Of the trust problem
and explained the task that the TAFT adj
minlstration had laid out for itself TO brns
the issue 10 a successful solution. and John
W. Griggs. Ex-Governor Of New Jersey ana
Attorney General under President Mckin-
Icy. aroused great enthusiasm through MS
praise OF Mr. Taft and his appeal 20 al
Republicans to become advocates OF this
AMI Mr.. Tafts denomination
and reelection.
Mr. Griggs said that if the country
could look back upon the Taft administra-
ton with the eyes of the historian ten
years hence it would perceive how much
admirable achievement there was in 1t
and would realize how Mr.. TAFT had en-
deavored to lead the nation along lines
OF progress.
Has he ever sought anything just for
popular applause?' asked Mr.. Griggs. IF
there is or ever was a man who is abso-
iutely crystal clear in his sincerity i. is
William Howard Taft Even his oppo-
nents agree to that
There is one quality that the Prest-
dent lacks, and that is that Of the dema-
gogue. but / think that the most despica-
BILE man is he who passes counterfeit in
telectual coin 70 achieve popularity"
The so-called progressive movement IN
a
Griggs with the formation Of the Liberal
party in 1864. which opposed the reelection
Of Abraham Lincoln, and Of similar move
ment to prevent the renomina ton of Grant,
and more recent agitations Of this charac-
ter
"All agitations of this kind have faded
out Of sight, and the Republican party has
come out Of them triumphant, solid and re-
sponsble The Liberal Republican move
ment was unable TO prevent the reelection
Of Lincoln; they had not progressed far
enough then to call themselves Progress
siyes" Mr.. Griggs said.
one hundred and fifty members OF the
Republican Club and their guests attended
the dinner Otto 7. Barnard presided, ana
with him OF the speakers table were Sec
rotary Stimson, Mr.. Griggs, Senator Simon
Guggenhein. of Colorado; Francis Hen
bricks, General Theodore A. Bingham and
General Francis V. Greene.
Mr. Stimson approached the trust prob
lem with a plea for a better spirit on the
part of the nation toward this question He
EXPRESSED his belief that in our ordinary
industries we have reached the stage OF
large business, but not OF monopoly, and
that this was the economic hypothesis upon
which the administration took its stand and
upon which its actions must he judged. He
then quoted from speeches delivered by Mr..
Taft as far back as 1907 10 show how con-
sstent the President has Been in dealing
with the problem Mr.. Stimson laid par
ticuar emphasis on the fact that Mr. TAFT
has always held that mere size of business
did not constitute a violation of the Sher-
man law lie then said:
Such a position in favor OF combination
may seem easy and commonplace in New
York but ! beg you 10 remember that fur
taking It the President has been accused
by leaders high in the Democratic Iarty OF
having emaSculated the Sherman lawn
deed of having packed the Suprem me court
for the purpose of emasculdtins ii. Appdr-
entity their position would be that no COM
bination is to be tolerated which in any
way or to the slightest degree has eliml-
mated any competition. | leave II to you
who are business men and are familiar
with the many dement's to production that
have come from growth and increased capt.
tai without 10 the slightest degree harm
ing either the consumer or the laborer but
on the contrary with incr ease1 benefit to
10Th, to judge of the sanity or such pos
ton OF his opponents.
In the second place, we have not yet
reached the stage OF monopoly. The mo-
ment business claims the right TO control
prices through monopoly, that moment will
the arm Of the state claim the right to fix
prices. We cannot legalize monopoly with
out bringing on state regulation OF prices
Are we ready in our ordinary business TO
face that alternative?
We need not deceive ourselves with the
idle dream that our virle American democ-
racv will permit the prices Of the things
II buys TO be controlled by monopoly
which Is beyond the reach of the hand OF
its government.
r. therefore. We are unwilling TO accept
state regulation Of prices, we must accept
the only other regulation which Is possible
that of competition. actual or potential.
Under normal conditions the only function
OF the state Is to establish rules OF fair
play In competition and TO see that those
rules are observed. The old rules of fair
play IN trade under the common law are
nc longer adequate. The entry of large
bl siness into the game has made necessary
some changes i'm rules which were sufficient
proYimately equal
Mr.. Stmson then spoke IN favor OF legis-
lation to define exactly the methods that
should be considered as violating fair play
in business but It was absolutely neces
sary he said, 70 retain on the statute book
a law in broad general terms like the Sher-
man law, adequate to reach every form
which the offence might take.
In advocating federal Incorporation as
the most effective and simplest means Of
reaching the evil Mr.. Stimson said that 1t
was folly 20 accuse such a system OF being
too inquisitorial, as 1t had produced no in
Jury 10 the most delicate business OF the
country, the credit business Of our national
banks. He said:
Let US, then, be UP and doing at this
problem There is no use railing at the
Sherman law. There is no use demanding
its repeal. In the first place, that is not
practical question. No state or national
legislature has existed during the last
twenty years which would dream OF re-
pealing It; and any party which made re-