Pine Bluff daily graphic., 1915-09-10
Incidentally, Former Presi- dent Explains to Bankers
 His Philosophy.
ORGANIZED LABOR
 ATTEMPTS TOO MUCH
Power Unions LcgltimakIy Acquired and Used. Now Is Being Abused in Attempt to Put Organized Labor
 fin Privileged Class.

Seattle, Wash, Sept. 9.-"I am an optimist." declared ex-President Taft in concluding a speech on "Economic and Political summary of the Gen l eration Just Closi4s before the Amerlcan Bankers associauon
 '.rhe difference between crank and au op.lmist, it seems to me, IS not in tnelr lueals, tor all optlmist may have as hlgn lueals as d crank, Dul a cranK IS a lll an WAo believes that nlS laealS can be reallZed to- thorrow by Legislation and ndS no interest except i'll their instant ac- compllshment. He is not willing 10 await the slow growth in the charac- ter of ths individual W-1icn must be the foundation Of all human progress.
 "The opilmist believes hls Ideals are only attalnable by indomlrable struggle and never ending patience; but that So much are they to be desir- ed that every effort toward them Is llte giving and every real advance, i however gradual, is worth whlle.' l He began with a reference to the currency inflatlon that followed the civil war, and led 10 the panic and depre sslon of 1875. Net until the re- un.ptlon of specie payment ln 1s'o M ere normal conditions restored anu it was from that day the subsequent business growth of our country De- gan on sound basis One of the lm- uortant clements in this unprecedenl- ed era of industrial expansion was the tendency to- combination and ofgahl- zation. American ingenuity and in vention multiplied the power ot la Dor a hundred fold and the same ln- &cnuity was utilized i'll the economic hpplication of capital. What in the lbeginning was prompted by the de- 1 sire for economy in the use of capltal 1 resulted in abuses. i After relating how 4the polltlcai machine and the business macHlie formed an alliance MT. Taft menuon- ed the interstate commerce law as inc first legislation designed to coun- ter2ct the tendencies mentioned. He treated of the growth of the inter- l state commerce law as IL was ac- yeloped by one amendment, altel Ianother until in 1910 the rallfoads found themselves brought under com plete government control.
 lndiscriminate Legislation.
 sirilar change in the effect and cnfercement of the antitrust law was observable, though ill this ease 1t was brought about by judicial lnterprela- tion and decision rather than by |amendm9nt.
 ,popular indignation" said MT. Taft "cannot be really reused or the leyia han of the people be stirred to action such as they have taken ana ston short at the line of wise modefa- ticn. Part of the cost of the orlglnal disease is in the incidental damage from the inevtable success of remedH The hostility of legislatures and or congress. consciously or unconscl- ously. has come to be directed against all successful investment of capltal without discrimination. The inquis- itorial and nagging of capital char acter of the powers of commissions created for the close supervision or cornorate activities have so friShten- ed capital as to shrink investments and to stop normal expansion ln the business of the country NotAlng IS so timid as capital and nothing IS so Sasilv able to take care Of what It has. hostile spirit manifested m | legislation buttons up the pockets of those who control wealth that would l otherwise he invested'