Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-09-09
Mr.. TAFT BELIEVES
RADICALS ARE DONE
Tells Bankers the Country Has
Concluded Their ''Reforms"
Are Harmful.
EXPECTS FAIR TREATMENT
FOR BUSINESS OF NATION
Says People, Aroused to Danger Of
Plutocracy, Swing the Pen
dulum Too Far.

OLA LII, .oCPtSiilDIl y. All
address by William H. Taft, for
mer President, giving an eco
nomic and political summary OF
the generation just closing was
the feature OF the closing session
today of the forty-hrst annual con-
vention OF the American Bankers
Association.
Mr.. Taft told the association
that practically all OF the radical
reforms attempted in connection
with politics, railroads and big
business had failed OF their pur-
pose, causing the nation to halt in
its progress, and that there must
now be a retracing to the line OF
moderation and justice"
In giving his political summary Nh.
Taft said that the latest outstanding
feature appeared to be the widespread
growth of the spirit of the brother
hood of man, despite the fact that the
war had shattered the dreams of uni
versal peace.
On Verge of Plutocracy.
In opening Mr. Taft outlined the
growth of large combinations in busi-
ness; their successful adoption to poll
tics and how the chase for the dollar
had absorbed all the people until they
suddenly realized they were almost in
the grasp of a plutocracy. 1t was then
that agitation for reforms swept the
country, he said. and public indigna-
tion became acute.
THE leviathan of the people cannot
be stirred to such action as has been
taken and stop short at the line of
said Mr.. Taft. THE hos
tility of legislatures and Congress came
investment of capital without discrimi-
nation Nothing is so timid as capital,
and nothing is so easily able to take
care of what it has"
He then said that a deplorable feature
of such excess of remedy was that the
wage earners suffered most.
The close and absolute supervision
over the management of railroads.,
said Mr.. Taft, "and the restriction upon
the rates charged by them in interstate
states. together with the increase in
cost of maintenance and of wages
through the efforts OF labor unions, has
ground the railIoads between the upper
and neither millstones. All this Is to
the detriment of the business of the
country, and especially to the comfort
and happiness of the wage earners de-
pendent on normal business and nor
NAL demand for labor.
All in the Same Boat.
1--WE are all in the same boat. The
prosperity of one class is dependent on
the prosperity of ALL This is no reason
why we should not repress injustice
and punish abuse of power. But it is
reason why we should not indulge
in excess.
I'VE must promptly grant increased
rates to the railroads when conditions
require it. We must not allow the out
rageous injustice to continue by which
we inaugurate the real reform Of par
eel post, and do it at the cost Of the
railr Dads by compelling them to carry
the enormous increase of traffic for
nothing. We should repeal the full
crew bills that impose upon the rail-
roads the burden of employing un-
necessary labor. In curing these ex-
cesses there is no reason why we
should not retain the real progress we
Mr. Taft said that conditions identical
with those affecting the railroads were
to be found in all lines of business
where large combinations OF invest
ment have been made.
another most important develop
ment in this country has been an at
tack upon our representative system
of government as cause OF the cor
porate and corrupt control OF politics.
1t was said that the system involved
the selection of agents by the people
to act for them in executive and legis-
lative work who too often proved
1aithIess, and that the only method
of carrying on the government safely
was to dispense with legislative agents
and let the people legislate directly.
Swayed bv Public Opinion.