Cresco plain dealer. (Cresco, Howard County, Iowa) 1913-1945, 1914-07-10
One Who Knows.
Said Col Roosevelt at Pittsburg:


not been kept. Their performance has
brought distress upon the nation. The
cost of living:has not been reduced. Not
the slightest progress has been made
toward solving the trust question. But
harried to no purpose and the prop
checked, exactly as the prosperity of
the farmer and the wage worker has
been checked: AS for the farmer. the
present tariff, the administrators
tariff, twas so framed!as to result in the
sacrifice of his interests. He had no
spokesman, no friend in high quarters
and his welfare was contemptuously
sacrificed. At every point where his in
terest was concerned, he was made to
suffer. As for the wage worker. the
result of the tariff was that he suffered
even more than his employer, for he
was thrown out of employment and
lost the means to earn his livelihood"
Col. Roosevelt speaks las one who
knows. The Colonel is an authority on
business depression. He is an even
greater authority on panics. He had
q panic in his administration pan
ic of 1907, or the Roosevelt panic.
1t was not brought on by the tariff
in the seven years he was in the White
House, notwithstanding the pyramided
oppression of consumers, the Colonel did
not tough theltariff. lIt was not brought
on by financial legislation-there was
none of it in the Roosevelt adminigtra-
ton except that which Aldrich and
Vreeland wrote to satisfy the demands
Of Wall Street. The cause of the
Roosevelt panic was Roosevelt and the
business chaos was such % that which
occurs in . china shop when bull 10
turned loose in it. '. " ~
Nobody questions Col. Roosevelt's
special equipment to speak in the voice
Of authority regarding panics. In the
twinkling Of IN eye in 1907 people who
had money in banks couldn't get it;
specie payments were suspended;
smoke ceased to issue from factory
chi,uneys; machinery stopped and men
left suddenly without work were turned
out idle into the street. Business fell
off everywhere and frenzy of fear.
anxiety and uncertainty filled the land.
From the effects of the Roosevelt
panic the country has not yet Irecover.
ed. Radical legislation affecting the
tariff, the currency, the trusts became
necessary to effect recuperation. All
that legislation except as concerns the
trusts, has been enacted and trust leg
islation is on the runway, to be enact
ed at the present session. Within
eighteen months after the Wilson ad.
took the reins of power
the whole legislative program will have
been put through, completing an &C.
complishment second to more other in
the legislative history of the nation.
Farmers of today. notwithstanding
free listing of their products. are re.
ceiving prices ,as good or better than
they ever received. Labor is az well
when not better paid, and is employed.
Business throughout the corn belt is
better than it has been in years. No
factories are shut down, there is no
of specie payment, the
crops are immense and everywhere
there is spirit of optimism and high
faith in the future of business.
Col. Roosevelt, for all of this, sees
panic. There is nothing to marvel in
that. With the recollections of 1907
fresh in mind it is hard to see how
Roosevelt could see anything but pam
ic.-Telegraph- Herald. -.