ADAMS 
 
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 Hts Policies 
 His Enemies 
 His F-rie.ni>s 
 
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ROOSEVELT 
 
 HIS POLICIES 
 HIS ENEMIES 
 HIS FRIENDS 
 
 BY 
 
 FRANCIS A. ADAMS 
 
 PRICE 25 CENTS 
 
 Wintemute-Sawyer Pub. Co., 
 New York and Pittsburg 
 
 MR IV I hf.Tj Y 
 
iv Preface, 
 
 Pennsylvania Coal Strike are explained. His intervention in 
 the Russian- Japanese War is cited to show the universality of 
 his statesmanship. As a light on his wide concern for the 
 welfare of the people, his career is sketched with its relation 
 to the Employers' Liability Act and the work of the Bureau of 
 Commerce and Labor, on Child Labor and other important 
 matters affecting the wage-earner. 
 
 Special attention is given to the relation that exists between 
 Theodore Roosevelt and the so-called "Nation Savers." It is 
 left to the sound judgment of the reader to decide whether the 
 Roosevelt Policies are designed 'to sustain and upbuild the 
 Republic, or whether they should be relegated and the destiny 
 of the Republic of the United States of America should be 
 entrusted to the fostering care of the Wall Street "Nation 
 Savers," whom President Roosevelt characterizes as "Sub- 
 limated Pawnbrokers." 
 
 The AuTHOiC, 
 
SKETCH OF THE AUTHOR. 
 
 Francis Alexandre Adams, journalist, author, was born in 
 New York City, May ii, 1874; the son of John Quincy Adams. 
 He was graduated from the New York public schools in 1891, 
 entered the College of the City of New York ; in 1897 entered 
 the Law School of the New York University; edited 1890, 
 Gotham Monthly Magazine; 1892- 1894 Adams' Magazine; 
 1895 Printers' Ink; 1896-1900 on the editorial staff of the New 
 York Evening Journal ; now associate editor on a New York 
 newspaper. In 1898, he enlisted as a private in Company "M" 
 of the 14th N. Y. Volunteers for the Spanish-American War 
 service; was promoted to corporal, sergeant and lieutenant; 
 mustered out in November, 1898, when he resumed his journal- 
 istic work. Author of "Who Rules America?" "Truths Aboiit 
 Trusts," "The Philippine Question," "The Transgressors," a 
 political novel. Married. Residence and office. New York 
 City. 
 
Inauguration Edition 
 
CONTENTS 
 
 Preface .,.,..... iii 
 
 Sketch of the Author ..... vi 
 
 Chapter I — Meddlers as History Makers . . 9 
 
 Chapter „ II — Constitutional Government . 13 
 
 Chapter III — Roosevelt's Work for Better Labor 
 
 Conditions . . . ■ 17 
 
 Chapter IV — Successful Coal Strike Intervention 20 
 
 Chapter V — Panics ..... 26 
 
 Chapter VI — Eliaiination and Absorption . . 29 
 
 Chapter VII — Meeting the Crisis ... 32 
 
 Chapter VIII — Money Monopoly . . . .40 
 
 Chapter IX — Fear of 1908 .... 46 
 
 Chapter X — An Appeal to the People . . .52 
 
 Chapter XI — The Roosevelt Policies . . 57 
 
 Chapter XII — Attacks by Twentieth Century 
 
 Tories . . . . -59 
 
 Chapter XIII — Placing the 'Responsibility . . 66 
 
 Chapter XIV — Roosevelt's Last Crusade . . 74 
 
CHAPTER I. 
 
 Meddlers as History Makers. 
 
 Nations grow in exactly the same way as individuals. None 
 has ever been created by an edict or sprung up, Phoenix-like, 
 in a day. 
 
 The history of the world shows that the men who have done 
 most for their own people and for the world at large have been 
 what the short-sighted conservatives of the hour have termed 
 "meddlers." 
 
 Moses was a meddler, when he took the children of Israel 
 from Egypt, and, in a march of devastation, led them back to 
 the Promised Land. 
 
 Alexander the Great was a meddler, when he carried the 
 sword of Macedonia into Asia and conquered the then civilized 
 world. 
 
 Caesar was a meddler, when he established the Roman domin- 
 ion throughout the inhabited, though semi-civilized countries 
 of Europe. 
 
 Cromwell was a meddler, when he shattered the heresy of 
 the divine right of kings and established the Commonwealth, 
 that to-day is still the virtual government of Great Britain. 
 
10 Roosevelt. 
 
 Washington and the Revolutionary Patriots were meddlers, 
 traitors and rebels to King George the Third, but they founded 
 the United States, as the haven of the liberty-loving man and 
 woman of the world. 
 
 Jackson was a meddler, when he stamped out the United 
 States Banks, the early prototype of the present money 
 monopoly. 
 
 Lincoln was a meddler, when he raised his voice and gave 
 his life as a sacrifice to the cause of universal freedom to man- 
 kind, irrespective of race, creed or previous conditions of, 
 servitude. 
 
 To-day we have evils in the body politic that must be cor- 
 rected and the man who has been working to rectify thirty 
 years of insidious encroachment on the people's rights by the 
 money magnates is called a "meddler." 
 
 Roosevelt has made history, and with the telegraph and the 
 press, the nation and the world have been made aware of his 
 efforts. Honest men regard him in the light of a leader, worthy 
 of mention with the Makers of History. 
 
 WHERE HAS HE SHOWN A MEDDLESOME HAND? 
 , In stamping out the evils of impure food production. 
 
 In effectually preventing the formation of traffic mergers 
 that would result in the monopoly of the railroads of the 
 country. 
 
 In carrying into execution the digging of the Panama Canal, 
 which, when completed, will break the trans-continental freight 
 monopoly and double the strategic strength of the Army and 
 Navy. 
 
 While other Presidents expressed an academic interest in 
 the Panama or the Nicaragua Canals, none gave the proposi- 
 tion his whole-souled effort. 
 
 President Roosevelt, in his usual emphatic manner, showed 
 how much in earnest he was, by taking a trip to the Canal 
 
Meddlers as History Makers. ii 
 
 Zone to make a personal inspection. He realized that with the 
 Panama Canal dug, the ships of the United States Navy can 
 be despatched in an emergency to either the Pacific or Atlantic 
 Ocean, and thus practically double the defensive power of the 
 Navy. The Canal would also allow of the speedy transport of 
 troops. In sending a great fleet around the Cape, President 
 Roosevelt gave the nation a striking lesson in how imperative 
 it is to dig the Panama Canal, a short cut to the Pacific. 
 
 In bringing about a cessation of war between Russia and 
 Japan, as a signal example that this is a Christian nation, for 
 the continuance of that war, surely meant greater wealth and 
 power to this country, as the other powers became weaker. 
 
 IN SETTLING THE COAL STRIKE IN PENNSYL- 
 VANIA, HE ASSUMED THE OFFICE OF ARBITRA- 
 TOR TO FULFULL HIS DUTY AS CHIEF EXECUTIVE 
 TO, THE PEOPLE, AND CALLED THE COAL BARONS 
 TO TASK FOR PRESUMING THAT THEY WERE 
 DIVINELY APPOINTED TO CAUSE MISERY AND 
 SUFFERING TO THE BODY PQLITIC. 
 
 In bringing successful suits against the Standard Oil 
 monopoly and in getting $29,000,000 in fines imposed against 
 it for violation of the law of the land. The moral effect of 
 this case is as strong as though a technicality had not caused 
 a higher court to order the judgment reversed. 
 
 In bringing successful suits against the Beef Trust, the 
 Tobacco Trust and against other predatory monopolies, that 
 overrode the law and defied opposition, while wresting extor- 
 tionate prices from the people. 
 
 In raising a voice of protest against the atrocities of Russia 
 in the persecution of the Jews. t 
 
 In daily working to give the people of the United States 
 the effective government they are entitled to under their Con- 
 ' ' stitution. 
 
12 Roosevelt, 
 
 As an honest man working among Senators and Representa- 
 tives, who are the minions of various "interests," the President 
 appeared to stand out as a "meddler" — ^but his meddling was 
 for the public good, and the people realize this fact. So do 
 the "interests," and hence their pleasure to see him retire and 
 their vain hopes that his policies will not be perpetuated. 
 
CHAPTER II. 
 Constitutional Government. 
 
 In establishing the government of the United States the 
 founders drafted a Constitution that provided for the estabHsh- 
 ment of three co-ordinate branches, viz., the Legislature, the 
 Executive and the Judiciary. The application of the goviern- 
 ment, built up under the Constitution, has been successful 
 during a period of one hundred and twenty years. 
 
 The functions of the Legislative Department are definitely 
 defined and are put in operation through Congress, in the 
 Senate and House of Representatives. 
 
 The Judicial Department has for its' duty the enforcement 
 of the law, the interpretation of the Constitution and the statu- 
 tory enactments of Congress. 
 
 The Executive Department, of which the President is the 
 chief officer, has for its duty the conduct of the government 
 as a body politic. The various subdivisions of the Executive 
 branch of the Government have been developed as necessity 
 has arisen. This department, of necessity, is plastic and can 
 not go on, from year to year, in old ruts. It has had to 
 expand so as to meet the requirements of a nation that has 
 
14 Roosevelt. 
 
 increased in population from less than 4,000,000 in 1789 to 
 upwards of 85,000,000 at the present time. It has been obliged 
 to develop so as to execute the governmental function over a 
 country that embraces more than 3,500,000 square miles on 
 the continent oif North America, and insular possessions in 
 the Atlantic and Pacific Oceans with upwards of 9,000,000 of 
 colonists and wards. 
 
 What wonder that the carping critic, who compares the 
 administration of Washington with that of Roosevelt, should 
 have superficial examples to cite of radical differences? In 
 the early days of the Republic, $3,000,000 represented the 
 annual expenditure of the Government, while to-day the cost 
 of maintaining it exceeds $700,000,000 annually. 
 
 Accompanying the expansion of the nation has been a 
 material growth that has never been even approximated be- 
 fore in the history of any nation. 
 
 When Roosevelt assumed the office of Chief Executive, he 
 found the natSon at the height of an era of unprecedented 
 prosperity. It also had been forced into a position that neces- 
 sitated a vigorous international policy for the United States, 
 for through the Spanish- American War it had become a factor 
 in world politics. 
 
 Acting under the authority vested in him through the Con- 
 stitution, he has coped with the new problems. Let the record 
 of his achievements be studied. He was entrusted with quell- 
 ing the insurrection in the Philippines; of giving freedom of 
 government to Cuba; of establishing government in Porto 
 Rico and of maintaining the government in the other insular 
 possessions of the United States. 
 
 How was this to be accomplished? By supinely asking for 
 more power from Congress, or by applying the laws as they 
 existed while waiting for further power? The man furnished 
 his own emphatic answer. He was the Executive, anid as such 
 
Constitutional Government. 15 
 
 acted with force, purpose and despatch. The times called for 
 positive results, and the lack of precedent did not deter him in 
 the course he believed to be right and for the best interest of 
 the people. 
 
 Eveij before he became President, Roosevelt realized that 
 there were sinister powers at work in this country, which 
 sought to control legislation, the decisions of courts and the 
 execution of the law through the several branches of the 
 Executive Department. These powers centered in Wall 
 Street. They emanated from a clique of bankers, who had 
 acquired supreme control of the nation's monetary resources 
 since the panic of 1873. The high priests of the Temple of 
 Finance included the Rockefellers, Harriman, Morgan and the 
 eight or ten other multimillionaires in the Wall Street ring. 
 
 ROOSEVELT OWED THESE MEN NO DEFERENCE 
 OR DEBT. HE WAS PRESIDENT IN HIS OWN RIGHT 
 AND BEGAN A CAMPAIGN OF FEARLESS AGGRES- 
 SION AGAINST THE ABUSES OF WEALTH. 
 
 From 1901 to the present day, the so-called "Captains of 
 Finance" have successively attempted to coerce him ; by bribery, 
 in the shape of ill- feigned support in the 1904 campaign, by 
 trickery, and now by opposition in the open. The Money 
 Monopoly has been aligned against him, because he has dared 
 to point the searchlight of investigation against the system of 
 organized national pelf. Now that their temple is toppling on 
 t^ jir heads, they cry that "Roosevelt is to blame." 
 
 A great English statesman has said that a nation can not 
 be indicted. So it may be stated that the Executive, who 
 represented the will of 85,000,000 people, can not be indicted. 
 Roosevelt has the support to-day of the vast majority of the 
 citizens of this country in all of his policies, and in none has 
 he a greater following than in his policy to mete justice to 
 millionaire malefactors. 
 
l6 Roosevelt. 
 
 He was within his constitutional rights in his efforts to 
 enforce the law, and honest men were with him. The majesty 
 of the law is best exemplified by its proper enforcement. 
 
 THE MONEY MONOPOLY DAILY FLOUTS THE 
 LAW THAT IT OCCASIONALLY FRANTICALLY IN- 
 VOKES TO PROTECT ITS LOOT. 
 
 It may be set down as a fact for all Americans to consider 
 that the President made a brave and sustained fight against 
 predatory wealth and trust-made law. His chief support came 
 from the openly expressed approval of the people and his one 
 and safe weapon was the Constitution of the United States, 
 which he used, as it was intended to be used, as a "Big Stick," 
 to protect the innocent and crush the guilty. 
 
CHAPTER III. 
 Roosevelt's Work for Better Labor Conditions. 
 
 In looking for a proper measure of the work that Roosevelt 
 has accomplished in the interests of labor, no one act can be 
 selected, nor can a few of the most important events in his 
 career be studied. It is necessary to review his record over a 
 period of the past twenty years to arrive at a true appreciation 
 of his purposes and their accomplishment. 
 
 When he was a young man in New York politics, he stood 
 ready at all times to work for measures in the Assembly that 
 were in the interests of those who toiled with their hands! 
 This attitude of his and his ability to draw the support of 
 others to his views attracted general attention and he was 
 selected as a Commissioner of Civil Service by President Har- 
 rison. This post he held with distinction, and during his in- 
 cumbency many reforms were inaugurated. So conspicuous 
 was his service, that when Grover Cleveland was re-elected 
 he saw no reason for removing Mr. Roosevelt and he was 
 retained in office. 
 
 When Mr. Roosevelt was appointed as one of the Police 
 Commissioners he enforced his views of fair play in the Police 
 
l8 Roosevelt. 
 
 Department and the patrolmen were accorded every advantage 
 that was compatible with good discipline. While a strict 
 disciplinarian, Mr. Roosevelt realized that the men who acted 
 as guardians of the peace were entitled to fair treatment. He 
 did effective work in raising the moral tone of the force and 
 of eliminating graft and oppression. 
 
 In studying the career of Roosevelt, one is brought to the 
 conclusion that all of his varied activities were designed to 
 fit him for the great office he was finally destined to occupy. 
 After a conspicuous and successful term as President of the 
 Police Commission, he was appointed Assistant Secretary of 
 the Navy. This opened a wide field of activity for his energy. 
 He at once familiarized himself with the affairs of the naval 
 establishment and made many recommendations for the im- 
 provement of the condition of both the enlisted men and the 
 civilian workmen in the Navy. It was largely through the 
 efficiency of his work that the Navy was in a state of pre- 
 paredness when the Spanish-American War was declared. 
 The Navy was in shape to cope with the work before it. He 
 lacked the technical training to fit him for a line officer's posi- 
 tion in the Navy; otherwise he would unquestionably have 
 sought for such an office, for he is a man of action and could 
 not rest content in time of war with doing routine work. 
 
 He secured a commission as Lieutenant Colonel of the regi-" 
 ment of cavalry known as "Roosevelt's Rough Riders," and 
 played a conspicuous part in the campaign in Cuba. Here, as 
 in all of his previous positions, his thoughtfulness for the men 
 who do the work was plainly shown. He had the devoted 
 affection of his regiment. There was no barrier between the 
 officer and the trooper. No lack of discipline was countenanced, 
 but the enlisted men all felt that in Roosevelt they had not only 
 a leader but a friend. 
 
 The instinctive love of fair play in the man led him to be 
 
Roosevelt's Work for Better Labor Conditions. 19 
 
 one of the number to sign the "Round Robin" calling for a 
 stop to the scandal of furnishing impure food to the men in 
 the Army. Just how deep an impression his experiences in 
 the Spanish-American War made on him can be understood 
 when the prosecution of the Beef Trust is recalled. When the 
 occasion presented itself, he dealt with that octopus as it de- 
 served to be dealt with. He not only avenged the soldiers who 
 were sacrificed by "embalmed beef," but he rid the markets of 
 this country and the world of the deleterious protiucts of the 
 beef combine. This stands as one of the greatest achieve- 
 ments in his career. It has been the means of giving the con- 
 sumers, chiefly the humble working men and their families, 
 pure canned foods. 
 
 No doubt can be expressed as to the earnest purpose which 
 Roosevelt holds to improve the condition of labor. He has 
 been outspoken and has embodied his ideas in concrete form 
 in messages to Congress. In his last message he devoted 
 considerable attention to the Employers' Liability Act, which 
 it would be well for every man to study. In his concise sum- 
 mary of this much needed reform, he voiced the wishes of the 
 millions who daily risk their lives in the pursuit of their work. 
 
CHAPTER IV. 
 Successful Coal Strike Intervention. 
 
 Through Roosevelt's recommendations to Congress, the Bu- 
 reau of Commerce and Labor has come to be a powerful factor 
 for the protection of the men and women who toil for a liv- 
 ing. It was through his efforts that labor was dignified by 
 having a Cabinet officer appointed who has as his special work 
 the care of the rights of labor. 
 
 While a staunch friend of the laborer, Mr. Roosevelt has 
 never for a moment receded from his position that labor must 
 obey the law to the letter, just as he insists that capital must be 
 marde'tol-espect and obey it. When occasions have arisen that 
 called for drastic action, he has not faltered. The riotous^ ac- 
 tions of the miners of Colorado called forth his condemnation, 
 and the strong hand of the Army was invoked to quell murder 
 and riot. 
 
 His record shows that he was a firm believer in arbtiration 
 as the most effective means of settling labor and capital dis- 
 putes. It was by his intervention that the coal strike in Penn- 
 sylvania was settled in 1902. 
 
Successful Coal Strike IntervenUoH. 21 
 
 A contemporaneous account of the coal strike and the arbi- 
 tration of the difficulty sets forth the case as follows : 
 
 "During almost the whole of the year 1902 the country was 
 disturbed by the preliminaries, the progress and the conse- 
 quences of the anthracite strike. Before 1900 the conditions 
 of employment in the anthracite field had been regulated by 
 local arrangements in each colliery or group of collieries. "In 
 1899 the United Mine Workers of America, which had already 
 succeeded in unionizing the bituminous field, with annual trade 
 agreements between the employers and the workmen, under- 
 took to organize the anthracite miners. This effort was suc- 
 cessful to a considerable extent, and in 1900 a strike was de- 
 clared for higher wages and other advantages. The operators 
 wished to resist this movement, but they were urged to yield 
 by Senator Hanna, who warned them that a prolonged strike 
 at that time would endanger the election of McKinley. Ac- 
 cordingly, they reluctantly made concessions — not, however, by 
 recognizing the union, but by posting up notices of a 10 per 
 cent, increase in wages and other benefits in the various col- 
 lieries. In the spring of 1901 the president of the United Mine 
 Workers, Mr. John Mitchell, tried to induce the operators to 
 enter a conference with his organization for the purpose of 
 agreeing upon a wage scale for the following year. In this he 
 failed, but the presidents of the various companies uniformly 
 agreed to continue the existing advance in force until April, 
 1902. On February 14, 1902, the United Mine Workers in- 
 vited the operators to a joint conference at Scranton on March 
 12, to form a wage scale for the year ending March 31, 1903. 
 The presidents of the companies promptly declined, giving 
 their reasons at length. In the absence of political excitement 
 they thought the time opportune for testing the strength of the 
 union, and they determined to make no concessions. The min- 
 er's convention met at Shamokin in March, and demanded an 
 
22 Roosevelt. 
 
 increase in wages and an eight-hour day for men employed on 
 a time basis, the weighing of coal for payments by the amount 
 mined and a uniform rate of wages. They invoked the good 
 offices of the Civic Federation, and resolved to allow only three 
 days' work a week after April i until the dispute should be 
 settled. 
 
 "This was one of the very intentions for which the Indus- 
 trial Department of the Civic Federation had been created 
 three months before, and as that body contained some of the 
 leading representatives of capital and labor, there seemed every 
 reason to believe that its intervention would be successful. Its 
 chairman. Senator Hanna, promptly took the matter up and 
 brought the miners and operators together. Long discussions 
 followed, but no agreement was reached. Finally, on May 8, 
 Mr. Mitchell sent a long dispatch to each of the corporation 
 presidents, proposing that the questions in dispute be submitted 
 to an arbitration committee of five persons selected by the In- 
 dustrial Department of the National Civic Federation, the 
 award to be binding for a year. In case that oflfer proved un- 
 acceptable, Mr. Mitchell suggested that Archbishop Ireland, 
 Bishop Potter and one other person to be selected by them 
 should make an investigation into the conditions prevailing in 
 the anthracite field, their recommendations to be accepted by 
 both parties. Both these propositions were curtly rejected, and 
 from this time the operators adopted the policy of having no 
 further dealings with Mr. Mitchell. 
 
 "On May 14 the United Mine Workers met in convention 
 at Hazleton, and the next day the strike, which had already 
 broken out, was officially declared. The demands of the strik- 
 ers were : 
 
 1. An increase of 20 per cent, in the pay of miners working 
 by the ton — ^about 40 per cent, of the whole number. 
 
 2. An eight-hour day for per diem employes, being equiva- 
 
Successful Coal Strike Intervention. 23 
 
 lent to a reduction of about 20 per cent, in working time with- 
 out change of wages. 
 
 3. Payment by weight to be based on a ton of 2,240 pounds. 
 
 "The men were intrenched behind the law requiring every 
 miner in the anthracite field to have a certificate of competence, 
 granted after examination, and based on at least two years' 
 experience as a laborer. As there were only about 40,000 hold- 
 ers of such certificates, and practically all of them belonged to 
 the union, it was impossible to operate the mines as long as 
 they held out, and the contest settled down into one of endur- 
 ance. One hundred and forty-five thousand men were idle. 
 An attempt was made to call out the bituminous miners in a 
 sympathetic strike, but this proposition was rejected in a gen- 
 eral convention of the United Mine Workers held at Indianapo- 
 lis on June 18. At first the public watched the contest without 
 alarm, but as the summer passed and the stocks of coal on hand 
 became depleted the popular uneasiness grew. September 
 brought a general scarcity, verging upon 'famine. By Octo- 
 ber the country was facing a calamity. The price of anthracite 
 went up to $20 and even $30 per ton, and only small lots could 
 be obtained at those rates. Political pressure was brought to 
 bear upon the operators, but they defiantly refused to yield an 
 inch. At last President Roosevelt resolved to end the intoler- 
 able situation. He had already, in June, directed Labor Com- 
 missioner Carroll D. Wright to investigate the causes of the 
 dispute, and he finally invited President Mitchell and the repre- 
 sentatives of the operators to meet him in conference on Octo- 
 ber 3. Mr. Mitchell offered on the part of the miners to ac- 
 cept arbitration by a commission selected by the President. 
 The operators rejected this proposition, and their whole atti- 
 tude appeared so offensive as to make them the objects of in- 
 tense popular indignation. They insisted that the whole mat- 
 ter was one of protection, and said that if troops enough were 
 
24 Roosevelt. 
 
 furnished they could operate the mines. A considerable force 
 of militia was already on duty, but on October 6 Governor 
 Stone called out the entire National Guard of Pennsylvania, 
 numbering 10,000 men. It soon became evident that miners 
 could not be obtained under any conditions, and the public ex- 
 citement ran so high that it became evident something would 
 have to be done. Accordingly, Mr. J. Pierpont Morgan inter- 
 vened to end the conflict. He held an interview with Mr. 
 Root, the Secretary of War, on board his yacht, the Corsair, 
 on October nth, conferred with President Baer of Reading the 
 next day, and went to Washington the day after, where he dis- 
 cussed the situation with the President and Secretary Root. 
 He offered on behalf of the operators to accept the arbitration 
 of a commission to be appointed by the President, and to con- 
 sist of: 
 
 1. An Army or Navy engineer officers. 
 
 2. An expert mining engineer, not connected in any way with 
 coal mining properties. 
 
 3. One of the Judges of the United States Court of the East- 
 ern District of Pennsylvania. , ' 
 
 4. A man of prominence, eminent as a sociologist. 
 
 5. A man who by active participation in mining and selling 
 coal was familiar with the physical and commercial features bf 
 the business. - 
 
 "The findings of this commission were to be binding for at 
 least three years. 
 
 "This proposition was accepted with the understanding that 
 the President would exercise a large discretion in the selection 
 of commissioners, and a convention of the United Mine Work- 
 ers at Wilkesbarre on October 20 declared the strike off Min- 
 ing was resumed on October 23. As members of the Commis- 
 sion the President appointed U. S. Court Judge George Gray, 
 
Successful Coal Strike Intervention. 25 
 
 Carroll D. Wright, Thomas H. Watkins, General John M. Wil- 
 son, E. W. Parker, E. E. Clark and Rt. Rev. John L. Spalding." 
 -With the directness that is characteristic of the man's entire 
 life, he brought about a settlement of a strike that not only 
 affected the miners of Pennsylvania, but was a menace to the 
 interests of a large percentage of the people of a score of States. 
 Just as he later used his good offices to end the sanguinary war 
 between Russia and Japan, he took the necessary bold and un- 
 precedented step to compel labor and capital to arbitrate. This 
 was another signal example of the man's fearless pursuit of 
 the course he believed to be right. 
 
 And in the closing days of his second administration he strove 
 with all the earnestness that was in him to bring about an ade- 
 quate measure of protection for all who labor. He worked for 
 the Employer's Liability Act, and is still determined that this 
 measure shall become operataive in every State. It looks to 
 the enforcement of proper regulations by employers for the 
 protection of those who work in factories, on railroads, in the 
 mines, or on ships. The opposition which this "measure has 
 met comes from those who are the loudest in demanding pro- 
 tection for what they term their "vested rights." 
 
 These self-same men who disputed the right of Federal in- 
 tervention to secure the rights of labor to adequate protection 
 are quick to ask for Federal injunctions to protect their prop- 
 erty. 
 
 The power of the Government to protect both labor and cap- 
 ital is equal, and as the crowning achievement of his office as 
 President of all the people, Roosevelt was working to see jus- 
 tice meted to all. No man or woman who knows what it is 
 to work for a living can have other than the highest regard 
 fer the President, who placed labor where it belongs-^-on an 
 equal footing with capital. 
 
CHAPTER V. 
 Panics. 
 
 What is more natural, in a country of the most exhaustless 
 resources of any in the world, where prosperity must go hand- 
 in-hand with the development of such resources, that some 
 should be more prosperous than others ? What is more natural, 
 what is more inevitable, than that those who are cleverest and 
 are allowed a freefoot in the accumulation and cornering of 
 money — what is more natural, than that such as these should 
 become financial monopolists and literally "Kings of Finance" ? 
 
 It is not the purpose of this publication to assume that the 
 money monopolist is essentially, naturally and instinctively a 
 bad man. It is simply human nature when a man feels himself 
 literally a king of financial circles, with absolute dominion over 
 a great part of a great Nation's resources, that that man should 
 be tempted at least, even though he might not yield to this 
 temptation, to abuse that power. 
 
 To these same men may be attributed much benefit to our 
 Great Country, in hastening the development of her resources, 
 but where has there ever been a monarch, be he King of Fi- 
 nance or a Political Ruler over his people, but has at some time 
 
Panics. 27 
 
 been tempted, yes, and yielded to the temptation of abusing his 
 power? 
 
 It can be demonstrated by documentary proof that the panic 
 of 1873, the panic of 1893 and the so-called panic of 1907, have 
 been artificially created by the money monopolists for their self- 
 aggrandizement. 
 
 In 1873 the nation was hampered by a lack of circulating 
 media, and was virtually on a paper money basis. The cry 
 was raised for a resumption of specie payment. Financiers 
 took advantage of the monetary agitation, and by concerted 
 action in hoarding their money created an acute stringency. 
 This, as it will always do, caused universal depression in com- 
 merce and wrought untold loss to the nation. But the nation, 
 the people, could not be crushed by such conditions. The peo- 
 ple rebuilt their fortunes. 
 
 In 1893 the same class of money changers saw that the na- 
 tion was again in a condition that would permit them to create 
 an artificial panic. " The population and the activities of the 
 country had outgrown the volume of circulating media. The 
 bankers again "cornered" the money market, and the panic of 
 1893 was precipitated by the fell action of not more than ten 
 financial "Monarchs" of Wall Street. 
 
 From 1896, when McKinley was' elected, to the present day, 
 the country has grown in populaton at a rapid rate, but money 
 has not been tight, gold has been brought from the earth in 
 abundant supplies to make the parity of per capita circulation 
 of money normal. 
 
 What, then, was the cause of the 1907 panic ? It was pre- 
 cipitated by the men who have been made to feel the power of 
 the "law," as enforced by President Roosevelt. They sought 
 to discredit him by creating national distress on the eve of a 
 Presidential campaign. 
 
 It was no new story to the Wall Street band of Financial 
 
28 Roosevelt. 
 
 Highwaymen, that large banking institutions were in bad shape, 
 that they had loaned large sums on questionable or worthless 
 securities. The action of the Clearing House, which is the 
 tool of the Big Wall Street Captains of Finance, in calling a 
 halt on the Mercantile National, and, later on, the Bank of 
 Commerce stopping its clearance of a prominent trust company, 
 were both engendered by a craven desire on the part of the 
 "interests" to get control of the enormously valuable copper 
 properties, which were not then within their grasp. 
 
 The precipitation of a national panic was incidental, but not 
 to be disregarded. Did it not serve to discredit Roosevelt with 
 the people? So argued the "Saviours of the Nation," the 
 "Kings of Finance." 
 
CHAPTER VI. 
 Elimination and Absorption. 
 
 Ten men created the panic of 1893. Two men, controlling 
 more than $4;ooo,ooo,ooo in American securities and cash in 
 National and State banks, insurance companies and trust com- 
 panies, created the panic of 1907 for the sole purpose of per- 
 petuating their power over the national resources. If they had 
 succeeded in making the American people "scuttle" the Ship 
 of State and destroy their own prosperity, these two men and 
 their associates would have added the billions of wealth to their 
 already fabulous fortunes. They sought to become absolute 
 dictators of the Nation's future, and to turn it into a govern- 
 ment that should be a "Republic" in name only; that should 
 be subservient to them — two "Monarchs" of finance. 
 
 These men. Rockefeller and Morgan, and their associates 
 have pursued a persistent course for thirty years, looking to 
 the final control of all the great activities of this land. 
 
 First — The oil industry was captured, as the recent testi- 
 mony in the Standard Oil suits has shown, by lawbreaking 
 methods. 
 
 Second — The railroad transportation facilities of the coun- 
 
20 Roosevelt. 
 
 try have been acquired by illicit merger and by illegal freight 
 rebate methods. 
 
 Thitd— The coal fields have been appropriated. 
 
 Fourth— The Lake steamship lines were acquired by the 
 "interests" thus controlling the rich iron ore of the Superior 
 region and its transportation. 
 
 Fifth— The Steel Industry was capitalized at $1,100,000,000 
 and all the ore fields monopolizfed. 
 
 Sixth — The Electrical Industry was combined in the General 
 Electric Company, to control light and power in all parts of the 
 United States. - 
 
 Seventh— The "Nation Savers" acquired by confiscation the 
 insurance funds of the country for a huge working capital. 
 
 Eighth — The "Nation Savers" secured control of the small 
 banks of the country by holding the national purse strings in 
 Wall Street and by the summary power of their clearing houses. 
 
 Ninth — The "Nation Savers" used their enormous^ power to 
 capture the copper mines as the final link in the chain of elim- 
 ination of competitors. 
 
 It mattered not to these absorptionists that a panic was pre- 
 cipitated. This served a purpose in their national control 
 scheme. It has given them a chance to close their hands on 
 whatever remained of the national resources, by forcing all but 
 their chosen few associates to put their stocks, bonds and busi- 
 ness interests over the "Pawnbroker's" counter at Broad and 
 Wall streets. 
 
 During the panic days of October and November, 1907, every 
 form of national security was depreciated to the lowest records 
 of years. The holders, who found their bank accounts tied up 
 or the banks unwilling or unable to extend them commercial 
 accommodations, had to sacrifice their stocks, bonds and the 
 controlling interest in their enterprises to get "cash" from the 
 "Nation Savers" in Wall Street. 
 
Elimination and Absorption. 31 
 
 The tenth great stride in the march of this "Band of Nation 
 Wreckers" was clearly defined. They sought to continue and 
 aggragavte the artificial panic, so as to defeat the election of a 
 Roosevelt man in 1908. If they had succeeded, it would have 
 meant that with open eyes and full consciousness, the Ameri- 
 can people had given themselves, body and soul, to the Absorp- 
 tionists. 
 
 The people have permitted competition in the great indus- 
 tries to be displaced by elimination to a basis of complete mo- 
 nopoly. They have permitted the government to lapse into 
 such a state of inertia that a plain, straightforward, honest, 
 fearless, active and progressive President, who looked only to 
 enforce the law on rich and poor alike, has been pictured as a 
 scourge by the Financial Band, and the people are asked to 
 believe this characterization is true. 
 
 It now remains to be seen, if the absorption of the Govern- 
 ment, as a whole, can be effected by Morgan and Rockefeller, 
 and popular government be eliminated by absorption into the 
 control of the "Two Saviours of the Country and their Associ- 
 ates," for personal profit only. 
 
 If the new administration, under President William Howard 
 Taft, stands firmly by the Roosevelt policies, as the majority 
 of the people expect and are confident will be the case, the Gov- 
 ernment of the United States will be kept true to its original 
 purpose of being a popular form of government, based upon 
 the eternal principles of equal rights to all and special favors 
 to none. 
 
CHAPTER VII. 
 Meeting the Crisis. 
 
 In the late financial crisis Roosevelt, acting through the Sec- 
 retary of the Treasury, showed characteristic promptness. 
 While the bankers in Wall Street were promising aid to the 
 banks and trust companies that were in straits, Roosevelt au- 
 thorized the Secretary of the Treasury, Mr. Cortelyou, to de- 
 posit large sums of money in the various national banks of the 
 country to relieve -the shortage of currency. Not alone was 
 this step taken, but an effort was at once made to furnish addi- 
 tional and permanent currency in the form of certificates issued 
 against Panama Canal bonds and a draft made on the emer- 
 gency bond issue that was authorized by Congress in 1898. In 
 the President's taking advantage of this emergency currency 
 law he at once invoked the harsh criticism of some members of 
 his own party and bankers. The legality of the step was ques- 
 tioned, and opposition Senators called for resolutions looking 
 into the constitutionality of this "fiat" money. 
 
 It is always true that whenever a man of action takes a de- 
 cided step he encounters the opposition of Weaklings, and 
 causes unjust criticism of his acts by those who view them from 
 
Meeting the Crisis. 33 
 
 too close range. From the time that President Roosevelt took 
 office he did things which at once caused a storm of applause 
 or protest from the people at large. Finally their judgments 
 on his acts have been those of approval, and his record shows 
 achievements in the popular cause in all departments of the 
 government. It is in the period covered by his last term that 
 the most drastic measures were forced through by his single 
 efforts. It was his advocacy of a Pure Food Law that com- 
 pelled Congress to pass the measure which now protects the 
 consumer at home and abroad. At the time that he was caus- 
 ing his investigation of the Chicago slaughter-houses, and 
 plants in other cities, he met the solid opposition of the Senate 
 and also a determined opposition in the House of Representa- 
 tives. The large packers were using whatever influence and 
 money could do towards preventing a fair investigation and 
 an open report. It is such characteristic efforts on Roosevelt's- 
 part similar to the one above mentioned that caused him to be 
 caricatured and written about by the press as "a swinger of 
 the big stick." It is noticeable, however, that his efiforts were 
 not misdirected. In the recent crisis, which affected the mone- 
 tary affairs of the nation, the President could not have acted 
 by half measures. To have done so would have only resulted 
 in a condition paralleled by that of 1896. He determined upon 
 his course with the rapid decision of a general reviewing his 
 enemy's position on the field, and decided that a message to the 
 people advocating a Central Bank would bring the recalcitrant 
 bankers to terms. Those who watched the press closely will 
 recall that J. Pierpont Morgan made a midnight visit to Wash- 
 ington and was admitted to the White House for a special con- 
 ference with the President, to discuss the advisability of estab- 
 lishing a Central Bank. The features suggested by this change 
 were carefully gone into, and, as the leading factor in the finan- 
 cial world, Mr. Morgan presented the bankers' side of the case. 
 
^.^ Roosevelt. 
 
 •It would have meant a total disruption of the present banking 
 methods for the nation to have returned to the conduct of a 
 bank, and all the monied interests of the country awaited the 
 result of this interview with keen anxiety. Mr. Roosevelt had 
 used one of his oft-employed methods of bringing the monopo- 
 lists to terms. He had threatened them with a measure which 
 would have meant their extermination or their retirement to a 
 position of minor importance, and, knowing his determined 
 character, Mr. Morgan, as spokesman for the financial monopo- 
 lists, accepted his terms. These included an instant change of 
 policy on the part of the banks in regard to hoarding money. 
 President Roosevelt pointed out that the relief money which 
 he had authorized the Secretary of the Treasury to turn into 
 the banks had been misappropriated to the extent of being 
 used by the banks, not to relieve the needs of depositors, but 
 to swell their bank reserves, and to be used for funds in specu- 
 lation, either direct or by loans made to stock speculators. He 
 insisted that, unless the banks made a determined and satisfac- 
 tory effort to place the money intelligently, he would force the 
 issue of a Central Bank. Since the return of Mr. Morgan to 
 New York from that visit the banks have been more liberal, 
 and have returned to their usual methods of business. The 
 commercial paper of the country is being discounted at normal 
 rates, and the effects of the monetary panic of October, 1907, 
 have passed away. 
 
 A student of financial conditions in America, however, 
 knows that the relief is of a transitory character. At any time 
 it still remains within the power of Morgan and Rockefeller 
 to precipitate another paiiic. Their hold on the money of the 
 country is unbroken, and it is merely a case of securing their 
 promise to let money take its normal course that was exacted 
 by the President. The "truckling" of Morgan has properly 
 fceen characterized as the move of a shrewd finaricifer! 
 
Meeting the Crisis. JS 
 
 The positive and permanent relief which the United States 
 Government should afford the people is through a currency 
 that is not at the mercy of the banks. The President in his 
 late messages to Congress clearly signifies his willingness to 
 consider any proposition that comes from the people looking 
 for an elastic currency. This word "elastic" has been very 
 loosely applied to money in the campaigns of 1896 and 1900, 
 and is now in the public mind as a misconception. Elastic cur- 
 rency is just as dangerous as inflated currency, and is merely 
 another name for this species of money. What the country 
 wants is an adequate supply of money that has a fixed value, 
 and that is not subject to fluctuations through manipulation of 
 bankers. When there is no premium on hoarding money the 
 banks are always ready to loan it to those conducting commer- 
 cial enterprises at a reasonable and proper rate of interest. As 
 the finances of the country are now conducted there is, and 
 there must remain, if this system is perpetuated, a handsome 
 profit to the banks controlling large cash reserves. The iniqui- 
 tous effects of the clearing house organization of the country 
 are being felt, and some change in this feature of modern bank- 
 ing is urgently advocated by those who have the interests of 
 the country at heart. While osetnsibly used as a means of 
 facilitating banking, the Clearing House in New York and in 
 all other large cities has become a weapon which, can strike 
 down either members of the Clearing House or outside banks. 
 This is a menace which the people have no|, fully realized, and 
 it was only when the plenary power of the Clearing House: vyas 
 shown in October, 1907, that the people, thrpugb l^e pres?, 
 were fully informed as to how arbitrary this org^ni[5a,tipn ,l\^d 
 become. Without adequate cause the Clearing _ House, tpol: 
 the step to demand. the instant resignatiqris of the presici^snt anfl 
 directors of the Mercantile National Bank. , This was forced 
 upon the bank by the ultimatum that, if the demand was not 
 
36 Roosevelt. 
 
 complied with, the Clearing House wobld cease to clear for 
 that bank, which would mean its immediate suspension. Such 
 action on the part of the Clearing House would never have 
 been taken had it not been dictated by the dominant factors in 
 Wall Street, viz., Morgan and Rockefeller. The banks they 
 control are leading spirits in the Clearing House, and it was to 
 fulfil an ulterior motive that this action was taken. This mo- 
 tive, as previously alluded to, was the crushing of certain cop- 
 per interests and the crippling of the Westinghouse interests. 
 The facts in this "1907 panic" are all clear, and it remains for 
 the people to give the needed encouragement and support to 
 the public officers to take the necessary steps to bring the na- 
 tion's looters to book. 
 
 In his messages the President made recommendation for a 
 National Savings Bank, which is another question that sorely 
 affects the banks. They are opposed to the adoption of this 
 sensible proposition, which has been successfully tried and is 
 now in operation by all European governments, because it 
 means placing in the hands of the government an enormous 
 volume of money which would otherwise be left in their hands 
 to "juggle" with. The proposition which is now termed 
 radical in Roosevelt's last message is so regarded only be- 
 cause people are inclined to exaggerate the importance of 
 present conditions.- 
 
 There is nothing in his message that has approached in im- 
 portance the problem involved in the Louisiana Purchase which 
 Jefferson brought about. The territory acquired and subse- 
 qufent development of States embraced under the purchase has 
 proved the most beneficial thing that has occurred since the 
 formation of the United States Government. At the time it 
 was regarded as a wild scheme, which involved merely the ex- 
 penditure of nearly $15,000,000 of the growing country's funds. 
 
Meeting the Crisis. 37 
 
 To-day the value of the land embraced in the original Louis- 
 iana territory is incalculable. 
 
 Another subject which found its first utterance in a message 
 to Congress was the Alaska Purchase. This also met with the 
 strongest opposition, and none of the near-sighted statesmen 
 could see any profit coming from the purchase of a barren 
 waste in the extreme north of the continent. Since the dis- 
 covery of gold in Alaska this territory has become one of the 
 richest of aur special possessions. A similar story is to be told 
 of the territory acquired through the Mexican War. The 
 President's message suggesting such action on the part of the 
 Government was ridiculed as chimerical, but subsequent events 
 have proved that i^twas another step in the line of destiny. 
 
 TO-DAY ROOSEVELT STANDS BEFORE THE PEO- 
 PLE AS A MAN WHO CONCEIVED IDEAS, NOT 
 ONLY FOR THE PRESENT, BUT FOR THE FUTURE 
 WELFARE OF THE COUNTRY. THE NARROW CRIT- 
 ICISM OF THE MAN DOES NOT IN ANY WAY DE- 
 TRACT FROM THE AFFECTION WHICH HE HOLDS 
 IN THE HEARTS OF THE AMERICAN PEOPLE. HE 
 MET THE CRITICISMS OF TE HOUR AS ONLY A 
 MAN OF ENERGY, DECISION AND COURAGE 
 COULD. IT WAS NO TIME TO WEIGH TECHNICAL- 
 ITIES AND STUDY NICETIES EITHER OF POLITI- 
 CAL OR SOCIAL ETIQUETTE. WORK HAD TO BE 
 DONE; AND, WITH HIS ACCUSTOMED DIRECT- 
 NESS, THE PRESIDENT ACCOMPLISHED IT. 
 
 One of the author's objects in this publication is to get the 
 facts before readers who are unacquainted with conditions 
 through reading only garbled accounts in the subsidized press. 
 After studying the career of Roosevelt and the achievements 
 of his two administrations, the reader who is not warped by 
 prejudice and personal consideration must come to the conclu- 
 
3j(l Roosevelt. 
 
 sion that he is the one dominant factor in the politics of to-day 
 who is working untrammeled for the public interests. At the 
 termination of his adminstration he has the praise and support 
 of the people. 
 
 As the expenditures of the Governnient have increased to a 
 point where upwards of $700,000,000 will be required in the 
 course of a year or two, the necessity of raising revenue from 
 other sources than the tariff has come up for consideration, 
 and the President adopted another of the Democratic meas- 
 ures advocated in 1896 and 1900, viz., the income tax. He 
 also advocated the imposing of an inheritance tax, both of 
 which sources of revenue every other nation in the world, 
 our own included, have collected. If these measures find a 
 place upon the statute books in the Taft adminis- 
 tration, it will mean a great increase in the revenue 
 of the country, and would firmly establish the size 
 of many of the "swollen fortunes" against which 
 President Roosevelt took issue. He pointed out in his 
 messages that a tax on an inheritance is not to be construed 
 is a tax on thrift. Where an inheritance is passed on to the 
 relatives of a deceased man or woman they receive something 
 for which they did not toil, and it is working no hardship on 
 them, in the sense of depriving them of their self-gained 
 wealth, to impose an inheritance tax. In regard to the income 
 tax, the President defined his position as favorable 
 to its collection as soon as, a bill making it constitu- 
 tional can be drafted and passed through Congress. 
 The evasion of paying an income tax through per- 
 jury is a course which, under the strict administration 
 of the law, could not be adopted by millionaires with 
 impuity. Roosevelt came out clearly in all of his recent utter- 
 ances as advocating a change in the laws of the nation and 
 States, so as to make it possible for juries to iind verdicts of 
 
Meeting the Crisis. 39 
 
 improsonment for offenders against the law. He pointed out 
 clearly that the average juryman to-day, while ready to fine 
 corporations, does not feel justified in imposing a sentence on 
 individual members of corporations because of some infrac- 
 tion of the law which present business methods look on as nor- 
 mal. It would certanly be part and parcel of any income tax 
 and inheritance tax law that evasions of its provisions would 
 put the offender in a position to be not only fined but impris- 
 oned. It would deprive the judges of the power to make de- 
 cisions^ that fail to carry out the spirit of the common law and 
 would make equivocation on the part of the judges an open 
 scandal, where now it can be regarded only as a breach of 
 faitb. Decision by obiter dictum must cease. 
 
CHAPTER VIII. 
 Money Monopoly. 
 
 From the earliest days down to the present the history of 
 various nations and our own shows that the possessor of 
 money, rather than the holder of wealth in any other form, has 
 been the ruler. Money is mobile, and the possessor of it is able 
 at all times to work to better advantage than the man who 
 possesses wealth in the form of land, buildings or any other 
 form of chattel. 
 
 In ancient times the danger of collecting money was fully 
 realized, and no encouragement was given to individuals to, 
 amass large fortunes representing either gold or silver. The 
 rulers retained the full power of controlling the money of the 
 country, and in this way panics and financial disturbances in 
 the early stages of the world were unknown. Even in the days 
 of Greece and Rome, while individual fortunes were piled up, 
 they were not represented in money but were comprised of 
 estates and the revenue derived from taxation. 
 
 It is only within a comparatively short time that banks have 
 evolved and have come into absolute possession of the money 
 of the various nations. From being factors in the easy conduct 
 
Money Monopoly. 41 
 
 of business the banks have become a power that wrests heavy 
 tribute from all classes of commercial enterprise. It is a funda- 
 mental principle that the only safe custodian of a monopoly is 
 the general government. This is especially true if the govern- 
 ment is ansewerable to the people, as is the case in a republic. 
 
 It takes no careful study to discover that the opposition of 
 the banks of this country to government control is based upon 
 the principle of self-preservation. If the government was 
 effective and successful in conducting the financial business of 
 the country, the extortions of the banks could no longer be 
 made, and one of their reasons for existence would end. The 
 monopoly of a nation's money, which is now completely ex- 
 emplified in the conditions in this country, is an evil which calls 
 for immediate removal. If a drastic measure is needed in 
 order to change this condition is should be taken; for tem- 
 porizing will only aggravate the condition. 
 
 In 1896, after the free silver campaign, merchants and all 
 other men interested in the upbuilding of the nation, breathed 
 a deep sigh of relief that the finances of the country had been 
 "rescued." Soon after the nation was firmly set upon a gold 
 basis, and the money question, to all intents and purposes, was 
 buried. But, like Banquo's ghost, it has come to haunt the 
 bankers at their feast. 
 
 Now, with the gold standard rigdly enforced and bankers in 
 full control, the people are asking for some form of "elastic" 
 currency. The silver coinage advocates regarded their propa- 
 ganda as the proper solution for an elastic currency; the 
 greenback advocates were certain that their solution was the 
 right one; and to-day, the advocates of an elastic currency, 
 based on a stretch of the public credit with neither government 
 stamp nor metal value back of it, regard their theory as the 
 right one. Again it must be impressed upon those who seek a 
 
4* Roosevelt. 
 
 proper solution that no temporizing can possibly be attempted 
 on a nation's money without bringing disaster. 
 
 Money has but three distinct and well-dened purposes. It 
 is a measure of values, a medium of exchange and a basis for 
 future payment. The ideal dollar is the one which is worth 
 one hundred cents in accomplishing all three of these func- 
 tions. It is rudimentary in ethics and in justice that the dollar 
 should be a fair gauge of values ; that it should be worth one 
 hundred cents intrinsically, and should have a purchasing 
 power of an equal amount. It is also proper that as a medium 
 of exchange, if it is accepted in place of an article, that the 
 holder of the dollar, who is giving up his property, should sub- 
 sequently be able to make an exchange for an equivalent sum 
 in merchandise ; and, finally, as a basis for future payment, it 
 is essential that the dollar should have its face value, no more 
 and no less, otherwise either the lender or the borrower must 
 suffer. 
 
 The banks in their proposals for an elastic currency simply 
 advocate the policy of certificates representing money to be 
 transported in the easiest manner to points where urgent de- 
 mand for increased circulating media are made. This would 
 still leave them in full possession of a "corner" on the money 
 market, and their present profits for manipulating it would 
 continue. High money— that is, money which stands at a pre- 
 mium—is as pernicious as depreciated currency. The only 
 class of people who could be benefited by an "inflated" dollar 
 is the class of people living on a fixed income. All other men 
 and women, including far more than 95 per cent, of the popu- 
 lation of this country, have to work for their dollars in the 
 form of wages or profit on their labor in the field or in the 
 shop. It is, therefore, clear that in order to secure a hundred- 
 cent dollar they have to pay one hundred and more cents in 
 labor. In other words, they are buying "dear money." Of 
 
Money Monopoly. 43 
 
 course, the bankers, who have the accumulated savings of the 
 people to lend out, always advOtate high money, as it is not 
 their funds, but the savings of others, that they are operating 
 with, and, when money is high, they get the increased rate of 
 interest. 
 
 The whole world can be generally divided into two classes, 
 viz., the producer and the idler. Among the producers it is 
 essential that they should have a dollar or some form of money 
 that has a fixed value. The evil effects of an inflated currency, 
 such as the present dollar of the United States, has become 
 manifest in the working of a loss to the holders of mortgages, 
 bonds, both United States, State, municipal and railway bonds, 
 real estate and industrials and all classes of business enterprise 
 and merchandise. As soon as money is up for discussion the 
 holders of it become panic-stricken, and refuse to let money 
 run in the ordinary channels -of business. This causes a sharp 
 advance in discount rates, and all the multifarious operations 
 of business are thrown out of gear. This is, at present, the 
 cause of the closing down of mills, the curtailment in all lines 
 of production, the depreciation in values of railway securities 
 and in all classes of investments. It is no comfort to a business 
 man to assure him that the hundred thousand dollars ($100,- 
 000) worth of railway securities which he bought in 1901 or 
 1902, or even up to October, 1907, will be worth one hundred 
 thousand dollars ($100,000) in a year or so, when business 
 conditions have become properly readjusted. He found him- 
 self in 1908 with this one hundred thousand dollars ($100,- 
 000) worth of "gilt-edged" railway stock, on which he could 
 not realize more than seventy thousand dollars ($70,000), or 
 seventy-five thousand dollars ($75,000). Even to get that sum 
 he was obliged to part with his stock as the banks were not 
 lending on collateral. This meant the loss of one-quarter of his 
 fortune by the unnecessary shattering of public credit. 
 
44 Roosevelt. 
 
 In any such panic as the one we have just passed through, 
 if the bankers were in a position where they used their own 
 money, they would be the sufferers ; but, as they use the peo- 
 pl'esfunds, they profit both by the heavy decline in values and 
 the gradual recovery. They are there in Wall Street as "coin 
 clippers," and they take their profit coming and going. 
 
 On a basis such as the currency of the Bank of England, its 
 notes are acceptable throughout the world at their face value, 
 and there is never any question as to their being redeemed. 
 The English Government does not find it necessary to hoard 
 an enormous gold reserve to make its paper money pass cur- 
 rent. The faith which the people of the British Empire and 
 the world have in that government is a sufficient guarantee of 
 the money being redeemed on demand for its face value in 
 gold. It would be no more possible for the Bank of England to 
 meet a ''run" on it for instant exchange of its paper currency 
 into gold than it would be for the United States Government 
 or any other. It is woing to the position, which time has shown 
 is a sofe one, that summary demand for the exchange of paper 
 currency into gold is not to be permitted, that the Government 
 is justified in repelling any such effort on the part of those who 
 can get control of any formidable volume of paper money. 
 
 In this country it would be no difficult task for the Govern- 
 ment to secure control of the issuance of paper money, based 
 upon the credit of the nation direct, and not, as at present, 
 through the medium of national bank notes, which are only 
 guaranteed by the margin of value in United^ States bonds left 
 in the custody of the Treasury. While such an unscientific 
 form of money can be made to pass current, as it does in this 
 country to-day, certainly a paper currency based upon the 
 direct pledge of the United States Government to pay one hun- 
 dred cents in gold on every dollar, would awaken no distrust. 
 The one thing that is needed to put an end to the money 
 
Money Monopoly. 45 
 
 monopoly is to seek counsel from the people and their legis- 
 lators who are elected under pledges to be true to their con- 
 stituents. It is too much of a stretch to expect the money mo- 
 nopolists themselves to formulate a plan for their own undo- 
 ing. The monetary legislation needed to wrest the money 
 control from Rockeffler and Morgan will not come through 
 any bills drafted by their counsel or their representatives in the 
 House or Senate. 
 
 There is nothing Delphic in the monetary problem and the 
 only reason that the laymen cannot now discuss it intelligently 
 is because the bankers with as much acumen as the doctors and 
 lawyers have shrouded their "profession" in mystery. The 
 plain, everyday arithmetic of the public schools is sufficient to 
 show the extortionate profits and usurious interest that banks 
 are making from/the people's funds, and the books of various 
 banks could be audited by grammar school bookkeepers and 
 be proved a record of falsification. 
 
CHAPTER IX. 
 
 Fear of 1908. 
 
 What was there in the outlook for 1908 to cause appre- 
 hension? The country was boundlessly prosperous in all 
 material respects. There was not a single section of the 
 land in which agriculture, manufacturing and the various 
 branches of industry were not being conducted successfully. 
 It was only the "Money Changers" who cried: "Breakers 
 Ahead ! Beware of the Rocks ! A panic is here ; The country 
 is too prosperous ; the reaction has come," and other hack- 
 neyed phrases, all intended to further distress the public 
 mind. 
 
 The fear of 1908 did not rest in the breasts of the people. 
 It found a lurking place only in the craven hearts of the 
 Financial Pirates, who have been caught looting the nation. 
 Their fear was well founded. In Roosevelt they had come 
 face to face with a man who did not fear their threats, who 
 was above the reach of their bribes, and who had the force- 
 ful nature to carry into execution the ideas that were ad- 
 vanced for the good of the people. Others have thought 
 of many plans for the relief of the people from trust oppres- 
 sion. Roosevelt had set the machinery of publicity in mo- 
 
Fear of 1908. 47 
 
 tion and every one now knows the criminal course that 
 the Captains of Finance have pursued to form their trusts, 
 combines, mergers and monopolies for thirty years. 
 
 The fear for 1908 was centered in the magnates who 
 knew that fines and impriosnment awaited them under the 
 Roosevelt Square Deal Policy. 
 
 What could they do to prevent a progressive candidate 
 from being elected? Create a panic and befuddle the peo- 
 ple's mind, so the real issues would not be discussed. 
 
 The Money Changers of Wall Street are in business for 
 profit. They do not come fordard to "save" the country 
 until a panic of their own creation is at its height. Then 
 they withdraw their clutch on the purse strings and con- 
 ditions are temporarily relieved 
 
 What has John D. Rockefeller or J. Pierpont Morgan 
 done to assist the Nation in the recent crisis ? 
 
 Many months ago, pious John D. Rockefeller told the 
 people of the country that a panic was coming. He was 
 a good forecaster, for in his hands lay the absolute power 
 to create the panic as much as it is in his absolute power to 
 raise or lower the price of a gallon of oil, and it arrived nn 
 schedule time. 
 
 J. P. Morgan, the Field Marshal of the Financial Army 
 of Crusaders, who ride forth occasionally to "rescue the 
 fair nation's credit," what has he done during the troublous 
 days? He has extended his pawnshop hours in order to 
 attend to the press of business in making loans; (of the 
 people's money which he controls) to railroads, banks, etc., 
 for a profit which he knd his associates make and retain. 
 This is "practical nation saving." 
 
 What wonder that Rockefeller beats the bush for the 
 game which Morgan bags so skillfully, and that a subsidized 
 press cheers them as benefactors and "Nation Savers"! 
 
NATION'S -WEALTH 
 
 ^30^ AOR I CULTURE 30^ 
 
 '3% 
 
 A/^lNErS Z5%j 
 
 :0;a4ANUEACTURE2£^ 
 
 ^/,RAI Lr R0APSi5;Z/ 
 
 PERSOJMAt AND 
 iREALESTATESj 
 
 jjPANKING^^, 
 
 GASH 
 
 C.n.riarrinmn 
 
 I homasr. ixyon 
 
 SEE- 5 AW 
 
NATIONS CREDIT SY5TEn 
 
 CREDIT BUSINESS . 
 
 ,^ 6 OO.OOO.OOO.QQ O> 
 
 OS'% ofAll 
 
 GASH 
 
 JohnD.Rochefeller- J. Pierliont Morpin 
 
JO Roosevelt. 
 
 Men, who can reason, must see that the country's finan- 
 cial basis is not correct, when it is possible for two men to 
 juggle with the money of the nation, at their pleasure, and 
 create panics "while you wait," for their own profit. 
 
 The power of these men can not be broken by a tirade ^ 
 emanating from bne of their discharged mercenary officers, 
 such as Thomas W. Lawson, of Boston. It can not be 
 broken by the scattered acts of the several States to curb 
 trusts. 
 
 The only way that the Money Changers' grip on the 
 Nation's purse can be broken, is by action in Washington. 
 President Roosevelt showed himself ready to wrestle with 
 this problem. He was not afraid to go to the people with 
 his plans. The people should get at the facts and be pre- 
 pared to support his successor in his campaign for Federal 
 control of the money of the United States as against Wall 
 Street control for purposes of marque and reprisal for 
 private profit. It is a fundamental truth that the cure for 
 confiscation is restitution. The people's funds have been 
 confiscated by pelf in Wall Street. 
 
 The Money Changers, with marvellous audacity, how- 
 ever, raise the cry, "Don't confiscate our property," when 
 as a matter of fact, the greater part of the huge fortunes 
 they hold, have been seized, stolen, confiscated, or pilfered 
 from the people during a period of thirty years by means of 
 artificial panics. 
 
 If the citizens of this country keep in mind the record of 
 the Money Changers and what Roosevelt has done to rouse 
 their ire, the rule of the two John's as "Nation Saverss for 
 profit only, will end. A rapid re-adjustment of the financial 
 conditions of the country will follow the breaking of the 
 money monopoly's power. 
 
 It is a simple matter for any one to figure that credit,- 
 
Fear of 1908. 5^ 
 
 faith in the honesty of man to man, is essential to any busi- 
 ness or to any system of money. With 85,000,000 peop*' 
 doing business on $3,000,000,000 in gold, silver and papt. 
 money $37.50 per capita), it is clear that credit has to 
 carry all but a trifling percentage of the transaction. It 
 is estimated that ninetyreight per cent, of the business of 
 the country is done on some form of credit and only two 
 per cent, on cash. That is actual passing off silver and gold 
 coin. Yet so unscientific, unsound and impracticable is our 
 system of money, that the men who control a fraction of 
 the two per cent, of "cold cash," one per cent, of the circu- 
 lating media, can create panics, raise interest rates and 
 paralyze industry and discredit this Nation abroad. Our 
 finances are like an inverted cone. The balance is easily 
 disturbed by the apex being placed on Wall Street as a 
 support. 
 
CHAPTER X. 
 
 An Appeal to the People. 
 
 . In all of his speeches, and in all of his writings on poli- 
 tical subjects which President Roosevelt has produced, he 
 has kept as the keynote that honesty of purpose in the 
 people and in their aiTairs was tlic cliicf essential. In his 
 own life, he has shown that this was his chief characteristic, 
 and the one thing that all men grant he possesses in a 
 superlative degree. The Roosevelt honesty is now pro- 
 verbial, and, even among those who criticise him most ad- 
 versely for his erratic actions, it is never intimated or 
 hinted at that he has any ulterior motives. During his sec- 
 ond term, his utterance that he would not be a candidate 
 for renomination was discussed pro and con. Even his 
 most intimate friends at times doubted the sincerity of 
 this statement. He came out with a flat confirmation of 
 that election-night pledge, and, as a candidate, he was de- 
 finitely removed from the race. It, therefore, became an 
 imperative duty on the part of the people to consider what 
 candidate among the Republican possibilities best suited 
 the needs of the hour. 
 
An Appeal to the People. 53 
 
 The man must be essentially a Roosevelt sympathizer 
 and one capable of carrying out the strenuous program that 
 the Roosevelt administration pursued. In order to give the 
 the Roosevelt policies a fair trial, they must be enforced as 
 laws over a period of time sufficient to test their efficacy. 
 
 In no line of effort has the President done more for the 
 good of future generations than in establishing the De- 
 partment of Commerce and Labor. In this Department, 
 the matters of vital concern to the virage-earners of the 
 country are taken care of, and every effort is being made 
 to wipe out the blot which has long been on this country 
 as a place where child-labor was used to an unusually 
 large degree and where the conditions of labor in the mills 
 were as unsanitary as even in the mill towns of England. 
 Any change made in the personnel of this Department 
 would be fatal to its successful conduct ; and so on, through 
 the various departments of the government, Roosevelt has 
 placed in command men who are earnest workers and who 
 are carrying out his policies. This is especially so in the 
 Department of Law, and his Attorney General and assoc- 
 ates, in their successful suits against the Standard Oil 
 Company, the Beef Trust and other large industrial com- 
 bines, have shown fidelity and ability. Therefore, the 
 people were appealed to by those interested in the Roosevelt 
 policies to use their efforts to keep the complexion of the 
 House of Representatives unchanged. The only successful 
 measures that can be put through in the next few years 
 must come through gaining the support of the Senate by 
 a preponderating vote, in the House of Representatives on 
 bills it originates. The personnel of the Senate can not 
 be suddenly changed, as the tenure of office of senators is 
 six years and only one-third of the incumbents can be 
 changed in any two-year period. It is different with the 
 
54 Roosevelt. 
 
 M«use of Representatives, and to this branch of Congress, 
 the loyal supporters of Roosevelt saw to it that they returned 
 staunch Republicans of the Roosevelt type and loyal to his 
 policies. As regards the Senate, a vote of confidence passed 
 by the people for a Roosevelt man in 1908 brought im- 
 mediate results in the position of the United States Sen- 
 ators on the popular issues of the day. Their opposi- 
 tiott to the election to the Senate by direct vote has 
 long been a source of contention, and at this time, if 
 they show opposition to the will of the people, it is certain 
 that this much-heeded change will be brought about. To 
 save their own positions, therefore, the Senate will be more 
 inclined to support popular issues than they have been dur- 
 ig the seven years of Roosevelt's administration. 
 
 In carrying out a propaganda for the installing of the 
 
 people's candidates in office, it is necessary to consider the 
 
 State Legislatures as well as the Federal Offices. It is 
 
 upon the vote of the State Legislatures that senators are 
 
 chosen, and we want to have senators elected who reflect 
 
 the vie^rs of the people at large and not the special interests 
 
 of railways, express companies and various other interests. 
 
 / , In all the successes which Roosevelt has accomplished in 
 
 ;his political career, he has gone direct to the press with his 
 
 ^appeals, and at this time, more than, any other, he has en- 
 
 ; dpavored to awaken a freedom of thought and expression 
 
 in the press on the questions uppermost in his mind. On 
 
 the construction of the Panama Canal, after seven or eight 
 
 years of indiiiferent support, the press of the country has 
 
 become firm advocates of the work and are doing all in 
 
 their; power to keep Congress enthusiastic on this much 
 
 imeeded measure. The appropriations, which now seem as- 
 
 SJ»red, for further work on the Canal, will not be held up by 
 
An Appeal to the People. 55 
 
 future Congresses, while the press keeps in its present 
 mood. 
 
 In analyzing the methods wh'ch Roosevelt -adopted in 
 his position as President, many people have objected to his 
 theatric poses. These in nearly all instances, virere as- 
 sumed to serve the purpose of gainiue, publicity. Even 
 through the pulpit he worked successfully, and in all 
 denominations in this country, the Roosevelt supporters 
 predominate. 
 
 In the campaign of 1908, it must be borne in mind that 
 the personal efforts of citizens were to count tremendously. 
 There have been such changes in the methods of conduct- 
 ing national campaigns that large contributions from vari- 
 ous industries can not be secured. Laws have been passed 
 making it an offense for insurance companies, industrial 
 concerns, railways, or others who could be personally bene- 
 fited, by contributing to the campaign fund, from giving 
 financial support. It, therefore, devolved upon the indi- 
 vidual voters to do missionary work. 
 
 In his Provincetown, Msasachusetts, speech in 1907, 
 President Roosevelt gave voice to a statement which was 
 that a "rich man's conspiracy" was under way to discredit 
 his administration and to defeat the election of a popular 
 candidate in 1908. When this statement was given to the 
 press and disseminated, it at first provoked ridicule. Upon 
 close examination, however, it has come to light that Roose- 
 velt was well within the bounds of truth when he made this 
 assertion. He had facts to back up the startling declara- 
 tion that the rich men, viz., the banking syndicate, were 
 arrayed against him and were working insidiously to bring 
 about the defeat of the Roosevelt policies. The change 
 ©f attitude by the Standard Oil Company in breaking the 
 silence -oi thirty years, and going to the people with their 
 
S6 Roosevelt. 
 
 story, through the mouth of Vice-President Archbold; the 
 loquacity of John D. Rockefeller, and the open statements 
 made by J. P. Morgan, all tended to confirm the belief that 
 in 1908 the monied powers were to n:\ake what they termed 
 an "open" fight against the radicals. 
 
CHAPTER XL - 
 The Roosevelt Policies. 
 
 A greater country for the American people, — greater in 
 population, education, morality, physical strength, material 
 prosperity. 
 
 A greater army to be used to preserve peace and com- 
 mand respect at home and abroad. 
 
 A greater navy to be brought to a position, proper for 
 the leading nation of the world. 
 
 Building of the Panama Canal. 
 
 Enforcement of the Monroe Doctrine and its extension 
 for protection to American interests. 
 
 Enforcement of the law against large trusts and power- 
 ful individuals, with as much vigor as against minor of- 
 fenders. 
 
 Regulation of the railroads, so as to assure citizens equal 
 opportunities. 
 
 Enforcement of pure food laws. 
 
 Reform in the monetary system. 
 
 Publicity as a curb on large industrial organizations. 
 
5* . Roosevelt. 
 
 Progressive rule in the Philippines. 
 An income tax. 
 An inheritance tax. 
 Revision of the tariff. 
 An Employers' Liability Act. 
 Child Labor Regulation. 
 Monetary Reform. 
 Civil Service Extension. 
 
 Expansion of the Civil Service to cover all branches of the 
 Govefnment. 
 
CHAPTER XII. 
 Attacks by Twentieth Century Tories. 
 
 Attacks on President Roosevelt have been made by all 
 of the "paid-for-the-piece" politicians, who regard the nod of 
 approval of the Wall Street powers as the highest human 
 tribute they can receive — an approval that is measured in dol- 
 lars. 
 
 Perhaps the most salacious attack was that made by ex- 
 Governor Frank S. Black, of New York. Mr. Black made 
 the speech at Chicago in 1904 nominating Theodore Roose- 
 velt, and in it he expressed the belief that the President ~ 
 was the highest type of American". But ex-Governor Black 
 has been "shown the errors of his judgment" by the Wall 
 Street "Nation Savers." In Boston, on February 13th, 1908, 
 he spent an hour in denouncing the President and his admin- 
 istration before the Home Market Protection Club. The chief 
 utterances in his speech were as follows: 
 
 "Policies consist now of a series of antics. Integrity 
 seems almost a handicap. Public officials are excused from 
 performance if they are gifted in explanation. 
 
 "Crime; always active and persistent, seems even more 
 
6o Roosevelt. 
 
 aggressive now because the new method of punishment is by 
 denunciation instead of conviction. 
 
 "Nearly everybody is accused but few are tried. If no 
 crime has been committed it is immoral to charge it. If 
 crime has been committed why not punish it? If those ac- 
 cused are innocent the oft-repeated accusation is a wicked 
 slander. If they are guilty their immunity is a national dia- 
 _ grace. 
 
 "Whichever way the truth may be the present attitude of 
 the National Government is without defence. 
 
 "The credit of our people has been assailed in accents car- 
 ried round the world. Their violence and repetition have 
 achieved their only natural result^. Confidence, the basis 
 on which all friendly intercourse depends, has been finally 
 destroyed. The laborer deprived of work is now demand- 
 ing government aid as the next and legitimate step in this 
 new and frenzied dispensation. Prosperity, but yesterday 
 at the flood, has leaked away and there along the banks are 
 furnaces with their fires out and idle railroad trains with 
 workmen sleeping in the cars. And yet Vesuvius still con- 
 tinues active. The torrent of vituperation is still tearing 
 on, and the cry of the stricken is filling the land. Will men 
 build again while these eruptions last? Where is the end 
 and what? 
 
 " 'The people of this country, if they retain their present 
 power and realize their highest aspirations, must take coun- 
 sel of their common sense and return to the place of safety 
 from which they have so unwisely departed. The functions 
 of government are important, but their range is small. The 
 present thought and tendencies upon that subject spring 
 from misconception. Government at the highest is a guar- 
 anty of personal liberty, a free field and a fair chance; the 
 
Attacks by Twentieth Centwry Tories. . 6i 
 
 encouragement of industry and education ; and the resolute 
 protection of them all. And government is nothing more. 
 
 "It is neither necessary nor wise to embrace under gov- 
 ernmental supervision every subject known to the human 
 race. Americans do not need to be managed or advised 
 in their business, their habits ond their pleasures. The less 
 they are governed the higher will be their civilization and 
 the more complete their freedom. 
 
 "This country does not need any one to run it or to feed 
 it; it sadly needs some one who will let it alone. 
 
 "Mr. President, great as the danger has become from 
 corporate abuses, that danger is invisible compared with 
 that which will arise if you enlarge and incorporate all the 
 functions of your government and place all the stock in a 
 single name. 
 
 "The most tyrannical trust in existence to-day is the trust 
 in politics. There never has been in the history of this 
 country a bossism so despotic and unscrupulous as that 
 which controls you now. It has already reached that ap- 
 palling stage where it is sought to fill the highest elective 
 office in the world by executive appointment without even 
 the safeguard of a confirmation by the Senate. 
 
 "The two great political parties, once so proud and mili- 
 tant, are playthings in the hands of two men whom the in- 
 telligence of the country rejects. 
 
 "The contest is not of statesmanship nor of policies; it is a 
 rivalry to see who can say the most and worst. No matter 
 which man wins, the country loses, for it is at best only a 
 case of competitive unfitness. 
 
 "We are drifting away from our ancient moorings and 
 losing sight of the qualities that have made us powerful 
 and respected. We are carried by excitement beyond 
 bounds which ten years ago would have filled us with dis- 
 
62 Roosevelt. 
 
 may. We have seemingly entered upon a national debauch, 
 and, whirling the big stick, are running amuck through the 
 institutions of the land. A deadly weapon should never be 
 trusted in the hands of those too prone to use it The 
 thoughtful and law-abiding among us are holding their 
 breath, and have lost the power to be astoflishe^. They 
 are- not convinced ; they are only numb. Speaking is the 
 order of the day, yet those whom the people would most 
 gladly hear have lost the power of speech. 
 
 "Gentlemen, this is a splendid country. No one in his- 
 tory has equalled it in its past achievements or in its future 
 prospects. But it must turn in its headlong pace and re- 
 gather its scattered senses if it would realize the wonderful 
 future which its past accomplishments have so freely prom- 
 ised. Government is a system which must ^be carefully 
 thought out, and the results even of that deliberation must 
 be cautiously applied. 
 
 "Plans conceived in the study should not be overruled in 
 the stable. The best is none too good for us, and the best 
 never was and never will be devised by those who do not 
 think. 
 
 "Sane methods should never be abandoned, no matter 
 how quaint they are. They have stood for many years, and 
 under them the enduring things of the world have been ac- 
 complished. 
 
 "By methods sometimes thought too slow our forefathers 
 carved out results which stand as landmarks in the pro- 
 gress of the race. They were not always swift, but they 
 intended always to be right. Their judgment and example 
 should not be forgotten now. We should remember that 
 the conspicuous is not always great; that high places do 
 not always make great men; the sound of water does not 
 
Attacks by Twentieth Century Tories. 63 
 
 always mean the ocean and the landscape may be painted 
 on a husk. 
 
 "I entertain the firm belief that the problems which now 
 dishearten us will be decided right. Political questions may 
 sqmetimes go by unheeded, but the problems now confront- 
 ing us involve the elements of honesty and fair play. These 
 are moral questions, to be decided by conscience and educa- 
 cation. These two together are not likely to go astray. 
 
 "Mr. President, the more widely education spreads, the 
 less dependent is the general mass. Leading others is not 
 so helpful as it is to so illuminate the way that without 
 leading they may see to walk alone. 
 
 "We have seen both methods tried. The quality of lead- 
 ership depends upon the man. He may be followed by the 
 best or worst, and if he has character and force the choice 
 of followers is in his own hands. 
 
 "A most conspicuous example of intelligent direction is 
 now in the public mind. My own State has the honor to 
 present him for popular examination. Few are. so blind 
 they do not see that his example floods the country with 
 new confidence and hope. The best will follow those who 
 lead the best. 
 
 "A leader is not one who excites the crowd and then goes 
 with it. His supremacy will last only while the blood is up. 
 When the fever subsides the man who caused it is the first 
 man rent. He is as one who pulls the dam away. He must 
 run with the flood and can only last while he keeps ahead. 
 If he stops he must.be swallowed in the gulf and join the 
 havoc and destruction he turned loose. If matters little 
 what you call the flood. Its destructiveness will not be 
 measured by its name. The torrents of the mountain 
 stream are no more wicked than the torrents of human pas- 
 sion. It is a race for life with either. 
 
64 Roosevelt. 
 
 "We sometimes take a passing fancy for conviction. W e 
 forget that public opinion is not always what the majority 
 may at any given moment cry or demand or denounce. 
 Whoever judges an utterance without knowing the temper 
 that produced it has only the chance of being right that 
 goes with any guess. The excited man says one thing : cast 
 down, another; morose or angry, moved by discontent or 
 hope, starved or fed, his varying moods produce a varying 
 speech. 
 
 "Let no man say what public opinion is till the flood sub- 
 sides and the land appears, for the rushing waters may not 
 express it as it is. 
 
 "Mr. President, the discriminating sense of this great 
 country can be depended on, and those who shape their 
 course according to that truth will win. No matter what 
 the test may be, the final issue rests with him who thinks. 
 
 "On this reliance I base my confidence, for ti will be a sad 
 day for the American people if they discard the words, 'In 
 God We Trust' and adopt the motto 'After me the deluge.' " 
 
 In substance, this is the trend of all those who attack 
 President Roosevelt. They arrogate all the honesty, pa- 
 triotism and wisdom of the country as being the sole pos- 
 session of the leeches of Wall Street and denounce as "dan- 
 gerous" those who have dared to bring the haughty and ar- 
 rogant to account. This class of sophistry is on a par with 
 the Tory arguments that were advanced in the ante-Revolu- 
 tionary days when the Fathers of this Republic dared to 
 talk of, and later, to fight for freedom. It is on a par with 
 the ante-bellum arguments of the advocates of human slav- 
 ery who chose to temporize rather than disturb the prosper- 
 ity of those who benefited by holding the negro in bondage 
 
 The work that President Roosevelt has accomplished by 
 wagmg war against successful dishonesty in high places 
 
Attacks by Twentieth Century Tories. 65 
 
 meets with the approval of the great mass of Americans. 
 It is a fight that only a brave man could make and the 
 enemies he has made number only those who are respon- 
 sible for the financial servitude of the nation to Wall Street, 
 and those who are blind to the truth. He has performed in 
 this Twentieth Century what was done two thousand years 
 ago, when the Money Changers were scourged from the 
 temple by the Saviour of man. In all history, the fearless, 
 upright man has always been the object of attack by those who 
 sought to retain unwarranted power. 
 
CHAPTER XIII. 
 Placing the Responsibility. 
 
 In his special message to Congress on January 31st, 1908, 
 President Roosevelt sounded the "bugle call to the nation." 
 He placed squarely before the people the question, "Who 
 Rules America ?" In tliis state document, the President charged 
 the Wall Street financiers with the responsibility of the recent 
 panic. He went further and proved his charge. 
 
 Let the fair-minded American who has felt the weight of 
 the Money Changers' grasp read the following words from 
 the President's message. 
 
 "The attacks by these great corporations on the Adminis- 
 tration's actions have been given a wide circulation through- 
 out the country, in the newspapers and otherwise, by those 
 writers and speakers who, consciously or unconsicously act as 
 the representatives of predatory wealth — of the wealth accumu- 
 lated on a giant scale by all forms of iniquity, ranging from 
 the oppression of wage-workers to unfair and unwholesome 
 methods of crushing out competition, and to defrauding the 
 public by stock jobbing and the manipulation of securities. 
 
Placing the Responsibility. 67 
 
 Certain wealthy men of this stamp, whose conduct should 
 be abhorrent to every man of ordinarily decent conscience, 
 and whoi commit the hideous wrong of teaching our yoUng men 
 that phenomenal business success must ordinarily be based on 
 dishonesty, have during the last few months made it apparent 
 that they have banded together to work for a reaction. Their 
 endeavor is to overthrow and discredit all who honestly ad- 
 minister the law, to prevent any additional legislation which 
 would check and restrain them, and to secure, if possible, a 
 freedom from all restraint which will permit every unscrupu- 
 lous wrongdoer to do what he wishes unchecked provided he 
 has enough money. The only way to counteract the movement 
 in which these men are engaged is to make clear to the public 
 just what they have done in the past and just what they are 
 seeking to accomplish in the present. 
 
 The Administration and those who support its views are 
 not only not engaged in an assault on property, but are 
 strenuous upholders of the rights of property. 
 
 The amount of money the representatives of certain great 
 moneyed interests are willing to spend can be gauged by 
 their recent publication broadcast throughout the papers of 
 this country, from the Atlantic to the Pacific, of huge adver- 
 tisements attacking with envenomed bitterness the Admin- 
 istration's policy of waring against successful dishonesty, and 
 by their circulation of pamphlets and books prepared with the 
 same object, while they likewise push the circulation of the 
 writings and speeches of men who, whether because they are 
 misled, or because, seeing the light, they yet are willing to sin 
 against the light, serve these masters of great wealth to the 
 cost of the plain people. 
 
 The books and pamphlets, the controlled newspapers, the 
 speeches by public or private men to which I refer, are usually 
 
68 Roosevelt. 
 
 and especially in the interest of the Standard Oil Trust and 
 of certain notroious railroad combinations, but they also 
 defend other individuals and corporations of great wealth that 
 have been guilty of wrongdoing. It is only rarely that the 
 men responsible for the wrongdding themselves speak or 
 write. Normally, they hire others to do their bidding or find 
 others who will do it without hire. 
 
 From the railroad-rate law to the pure-food law, every 
 measure for honesty in business that has been passed during 
 the last six years has been opposed by these men on its passage 
 and in its administration with every resource that bitter and 
 unscrupulous craft could suggest and the command of almost 
 unlimited money secure. But for the last year the attack has 
 been made with most bitterness upon the actual administra- 
 tion of the law, especially through the Department of Justice, 
 but also through the Inter- State Commerce Commission and 
 the Bureau of Corporations. 
 
 The extraordinary violence of the assaults upon our policy 
 contained in these speeches, editorials, articles, advertisements 
 and pamphlets, and the enormous sums of money spent in these 
 various ways, are a fairly accurate measure of the anger and 
 terror which our public actions have caused the corrupt men 
 of vast wealth to feel in the very marrow of their being. The 
 attack is sometimes made openly against us for enforcing the 
 law, and sometimes with a certain cunning, for not trying to 
 enforce it in some other way than that which experience shows 
 to be practical. 
 
 One of the favorite methods of the latter class of assail- 
 ant is to attack the Administration for not procuring the 
 imprisonment instead of the fine of offenders under these 
 
. Placing the Responsibility. Og 
 
 anti-trust laws. The man making the assault is usually 
 a prominent lawyer or an editor who takes his policy from 
 the financiers, and his arguments from their attorneys. If 
 the former, he has defended and advised many wealthy male- 
 factors, and he knows well that, thanks to the advice of law-* 
 yers like himself, a certain kind of modern corporation has 
 been turned into an admirable instrument by which to render 
 it well nigh impossible to get at „the head of the corporation, at 
 the man who is really most guilty. 
 
 When we are able to put the real wrongdoer in prison, this 
 is what we strive to do ; this is what we have actually done with 
 some very wealthy criminals, who, moreover, represented that 
 most baneful of all alliances, the alliance between the cor- 
 ruption of organized politics and the corruption of high 
 finance. This is what we have done in the Gaynor and Greene 
 case, in the case of the misapplication of funds. in connection 
 with certain great banks in Chicago, in the land-fraud cases, 
 where, as in other cases likewise, neither the highest political 
 position nor the possession of great wealth has availed to save 
 the offenders from prison. 
 
 The Federal Government does scourge sin; it does bid sin- 
 ners fear ; for it has put behind the bars with impartial severity 
 the powerful financier, the powerful politician, the rich land 
 thief, the rich contractor — all, no matter how high their sta- 
 tion, against whom criminal misdeeds can be proved. All 
 their wealth and power cannot protect them. 
 
 But it often happens that the effort to imprison a given 
 defendant is certain to be futile, while it is possible to fine 
 him or to fine the corporation of which he is hiad; so that, 
 in other words, the only way of punishing the wrong is by 
 fining the corporation, unless we are content to proceed per- 
 sonally against the minor agents. The corporation lawyers 
 to whom I refer and their employers are the men mainly 
 
yo Roosevelt. 
 
 responsible for this state of things, and their responsibility- is 
 shared with all who ingeniously oppose the passage of just 
 and effective laws, or who fail to execute them when they 
 have been put on the statute books. 
 
 The business which is hurt by the movement for honesty 
 is the kind of business which, in the long run, it pays' the 
 country to have hurt. It is the kind of business which has 
 tended to make the very name "high finance" a term of scandal 
 to which all honest American men of business should join in 
 putting an end. 
 
 The special pleaders for business dishonesty, in denounc- 
 ing the present Administration for enforcing the law against 
 the huge and corrupt corporations which have defied the 
 law, also denounce it for endeavoring to secure sadly needed 
 labor legislation, such as a far-reaching law making employ- 
 ers liable fdt injuries to their employees. It is meet and fit 
 that the apologists for corrupt wealth should oppose every 
 effort to relieve weak and helpless people from crushing 
 misfortune brought upon them by injury in the business from 
 which they gain a bare livelihood. The burden ^should 
 be distributed. 
 
 It is hypocritical baseness to speak of a girl who works 
 in a factory where the dangerous machinery is unprotected 
 as having the "right" freely to contract to expose herself 
 to dangers to life and limb. She has no alternative but to 
 suffer want or else to expose herself to such dangers, and 
 when she loses a hand or is otherwise maimed or disfigured 
 for life it is a moral wrong that the whole burden of the 
 risk necestferily incidental to the business should be placed 
 with crushing weight upon her weak shoulders, and all who 
 profit by her work escape scot free. This is what oppo- 
 nents of a just Employers' Liability Law advocate ; and it is 
 consistent that they should usually also advocate immunity ■ 
 
Placing the Responsibility. 71 
 
 for those most .dangerous members of the criminal class — the 
 crirqinals of great wealth. 
 
 There is no nation so.^ absolutely sure of ultimate success 
 as ours. Of course, we shall succeed. Ours is a nation of 
 masterful energy, with a continent for its domain, and it feels 
 within its veins the thrill which comes to those who know 
 that they possess the future. We are not cast down bv the 
 fear of failure. We are upheld by the xonfident hope Of 
 ultimate triumph. 
 
 The wrongs that exist are to be corrected; but they in 
 no way justify doubt as to the final outcome, doubt as to 
 the great material prosperity of the future, or of the lofty 
 spiritual life which is to be built upon that prosperity as a 
 foundation. No misdeeds done in the present must be per- 
 mitted to shroud from our eyes the glorious future of the 
 Nation; but because of this very fact it behooves us never to 
 swerve from our resolute purpose to cut out wrong-doing and 
 uphold what is right. 
 
 I do not for a moment believe that the actions of this 
 Administration have brought on business distress; so far 
 as this is due to local and not world-wide causes, and to 
 the actions of any particular individuals, it is due to the 
 ,speculative folly ' and flagrant dishonesty of a few men of 
 great wealth, who seek to shield themselves from the efifects 
 of. their own wrong-doing by ascribing its results to the 
 actions of those who have sought to put a stop to the wrong- 
 doing. 
 
 But if it were true that to cut out rottenness from the 
 body politic meant a momentary check to an unhealthy 
 seeming prosperity, I should not for one moment hesitate 
 to put the knife to the corruption. On behalf of all of our 
 people, on behalf no less of the honest man of means than 
 of the honest man who earns each day's livelihood by that 
 
72 Roosevelt: 
 
 day's sweat of his brow, it is necessary to insist upon hon- 
 esty in business and politics alike, in all walks of life, in 
 big things and in little things; upon just and fair dealing 
 as between man and man. Those who demand this are 
 striving for the right in the spirit of Abraham Lincoln 
 when he said: 
 
 "Fondly do we hope, fervently do we pray, that this mighty 
 scourge may speedily pass away. Yet if God wills that it 
 continue until all the wealth piled by the bondsmen's two 
 hundred and fifty years of unrequited toil shall be sunki and 
 until every drop of blood drawn with the lash shall be paid 
 by another drawn with the sword, as was said three thousand 
 years ago, so still it must be said, 'The judgments of the Lord 
 are true and righteous altogether.' 
 
 "With malice toward none, with charity for all, with firm- 
 ness in the right as God gives us to see the right, let us strive 
 on to finish the work we are in." 
 
 "In the work we of this generation are in, there is, thanks 
 be to.the Almigthy, no danger of bloodshed and no use for 
 the sword; but there is grave need of those stem qualities 
 shown alike by the men of the North and the men of the 
 South in the dark days when each valiantly battled for the 
 light as it was given each to see the light. Their light 
 should be our spirit, as we strive to bring nearer the day 
 when greed and trickery and cunning shall be trampled under 
 feet by those who fight for the righteousness that exalteth a 
 .jiijation." 
 
 .Who deserved the confidence of the American people at 
 
 , the crisis," the men who have gained control of the financiaf 
 
 system of the country for their personal aggrandizement 
 
Placing the Responsibility. 73 
 
 or the President and his loyal supporters who fought for the 
 people's right in the mightiest struggle in history? The ver- 
 dict at the polls on November 3, 1908, emphatically answered 
 that they stood by Roosevelt and his policies. 
 
CHAPTER XIV. 
 
 Roosevelt's Last Crusade. 
 
 In the final days of his administration President Roosevelt 
 expected to follow the routine of office, and to make few, if 
 any, crusades into fields of political iniquity; but the pressure 
 of events forced him to take a decided stand on the question 
 of the curtailment of the Secret Service. Congress was ap- 
 prised by the President in his last message to the 6oth Con- 
 gress that he would not allow the restriction of the use of the 
 Secret Service to pass him unnoticed. In his message he 
 brought out the fact that when the several divisions of the 
 Executive Department had employed the Government detective 
 force on land scandals, they had traced acts of malfeasance to 
 members of Congress in both the Senate and the House of 
 Representatives. So pointed were the statements of the Pres- 
 ident that the members of Congress at once took action to 
 cause him to retract, apologize or explain. They assumed an 
 air of injured innocence that ill-became them when several of 
 their members had already been convicted of frauds and were 
 either under sentence or indictment. The newspapers of the 
 
Roosevelt' s Last Crusade. 75 
 
 country were at first inclined to take the attitude that "Roose- 
 velt had broken loose again" ; but subsequent events are show- 
 ing that he v^as in the right, as he has been invariably on all 
 matters of moral ethics during his two terms. 
 
 There is a growing belief that the members of Congress who 
 are honest and wJio have clean hands, and they represeint a 
 large majority, should stand with the Executive in wanting to 
 see frauds unearthed and stopped. If the Secret Service is the 
 proper instrument to effect this, then the people's representa- 
 tives should extend their aid to the Executive and allow the 
 President, or the proper officials under him, to search for the 
 -evildoers. There is little sympathy wifh the Congressmen and 
 Senators who assume that they are above the pale of the law, 
 and that they should not be subject to investigation. This 
 same attitude was taken by the officials in the large insurance 
 companies when the searchlight of publicity was being turned 
 on them a year or so ago. They resented being investigated, 
 but the Legislatures of the several States have brought the in- 
 surance companies to understand that they are the handlers of 
 the people's money and must be held to a strict accountability. 
 So with Congress, the people want it understood that they ap- 
 prove of the Roosevelt stand. The honest members of Con- 
 gress have nothing to fear and the dishonest ones should be 
 routed. That there are many deals being carried out at pres- 
 ent under the protection or with the knowledge of certain 
 members of both houses is generally believed, and the citizens 
 in all States are anxious that the investigation of Post Office 
 privileges, land grants, public contracts and concessions should 
 be thorough. 
 
 In passing criticism on Congress President Roosevelt did 
 not singularize. He was not engaged in holding any one man 
 
76 Roosevelt. 
 
 or set of men up to public criticism. He took the subject in 
 its extensive phase and declared that he, as the Chief Execu- 
 tive of the people, was determined to hunt out the rascals in 
 Congress. If it was necessary for him to employ the Secret 
 Service, he wanted the power to do so. He was especially 
 anxious to have the provision made before President Taft came 
 into office, so that the Taft Administration would not have to 
 antagonize Congress. 
 
 The fight that has been waged against Roosevelt during the 
 closing session of the 6oth Congress has served no good pur- 
 pose for the members of either house. It has, however, been 
 the means of directing the attention of the people to the diffi- 
 cult task that a President has, when he attempts to interfere 
 with the so-called privileges of Congre"Ss. Roosevelt in run- 
 ning counter to Congress has measurably increased his stand- 
 ing with his fellow-citizens. The Senate contains in its mem- 
 bership some of the country's best types of men. It also num- 
 bers some of the most conspicuous examples of trust-owned 
 men. The lower House with its large membership is com- 
 posed of men of low, medium and high ability on both the Re- 
 publican and Democratic sides. But there is no halo around 
 a member which sets him apart as a man above suspicion and 
 beyond reproach. 
 
 The sincerely public-spirited members did not take offense at 
 the statements in the last annual message of President Roose- 
 velt. The public regards the whole controversy as one that 
 can best be settled by publicity. They agreed with Roosevelt 
 in the stand he took for publicity of the Trusts, and they found 
 no reason to desert him when he sought to apply the search- 
 light of publicity to Congress. In this, his last fight, he has 
 made more friends than in any other. It is clear to the people, 
 
Roosevelt's Last Crusade. 77 
 
 now as it has never been before, why legislation, intended for 
 their benefit, has been defeated. The exposure of the Senators 
 who received the "Certificates of Deposit" of the Standard Oil 
 for services rendered, opened the eyes of President Roosevelt 
 in the campaign of 1908, and, irrespective of whom it affected 
 in Congress, he began to call for a searching investigation. It 
 is certain that under the new administration the policy of rigid 
 enforcement of the law will be followed. 
 
 The path that Roosevelt has blazed will in future be opened 
 and broadened by Executives who have the interests of the 
 people at heart. The period to the Roosevelt Administration 
 was most fittingly the triumph which he won over Congress 
 on the Secret Service issue. From blustering about impeach- 
 ing him and demanding retraction, the 60th Congress heard 
 the popular voice back of Roosevelt and the Senate and the 
 House of Representatives tamed down. The counsels of the 
 honest and wise members prevailed, and the railroad resolu- 
 tions were tabled. Again Roosevelt had bearded a lion in its 
 den and had won a victory for honesty in public office. 
 
 In conclusion, let it be said that no matter what mistakes 
 may have been made; what interests may seem to have been 
 antagonized, or what misconceptions, resultant therefrom, may 
 have been formed, such mistakes, if any there are, could not 
 have been other than honest ones, and it is but human to err. 
 The bitter antagonism of any interest, if such has been felt, 
 could not have been inspired but by President Roosevelt's un- 
 diminishable regard for the public welfare, for his enemies, as 
 well as his f riend& concede to him the possession of moral 
 courage well nigh incomparable and integrity absolutely unim- 
 peachable. In consequence of his attributes as a man and the 
 distinguished record he has made as the People's President, 
 
/S Roosevelt. 
 
 Theodore Roosevelt is enshrined in the Nation's heart, haloed 
 with its love, devotion and respect, and the splendor of his 
 fame will increase with the passing years. His name will ever 
 remain in the most cherished annals of the race as that of one 
 whose lifework made for universal righteousness, and for the 
 establishment of which, in his own land, he contended always 
 against all odds and despite every untoward circumstance. 
 
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