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ADDRESS  OF  PRESIDENT  ROOSEVELT  ON 
THE  OCCASION  OF  THE  LAYING  OF  THE 
CORNER  STONE  OF  THE  PILGRIM  ME- 
MORIAL MONUMENT,  PROVINCETOWN, 
MASSACHUSEnS,  AUGUST  20, 1907  ^  ^ 


^ 


WASHINGTON 

GOVERNMENT  PRINTING  OFFICE 

1907 


ADDRESS  OF  PRESIDENT  ROOSEVELT  ON 
THE  OCCASION  OF  THE  LAYING  OF  THE 
CORNER  STONE  OF  THE  PILGRIM  ME- 
MORIAL MONUMENT,  PROVINCETOWN, 
MASSACHUSETTS,  AUGUST  20, 1907  ^  ^ 


^ 


WASHINGTON 

GOVERNMENT  PRINTING  OFFICE 

1907 


TR'W 


Oft.*?.  A- '2-'^ 


j^f^;^<^rJ>' 


It  is  not  too  much  to  say  that  the  event 
commemorated  by  the  monument  which 
we  have  come  here  to  dedicate  was  one 
of  those  rare  events  which  can  in  good 
faith  be  called  of  world  importance.  The 
coming  hither  of  the  Pilgrim  three  cen- 
turies ago,  followed  in  far  larger  numbers 
by  his  sterner  kinsmen,  the  Puritans, 
shaped  the  destinies  of  this  continent, 
and     therefore    profoundly    affected    the 

(3) 


4 

destiny    of    the    whole    world.      Men   of 

other  races,  the  Frenchman  and  the 
Spaniard,  the  Dutchman,  the  German,  the 
Scotchman,  the  Irishman,  and  the  Swede, 
made  settlements  within  what  is  now  the 
United  States,  during  the  colonial  period 
of  our  history  and  before  the  Declaration 
of  Independence;  and  since  then  there 
has  been  an  ever-swelling  immigration 
from  Ireland  and  from  the  mainland  of 
Europe ;  but  it  was  the  Englishman  who 
settled  in  Virginia   and  the    Englishman 


5 

who    settled    in    Massachusetts   who    did 

most  in  shaping  the  lines  of  our  national 
development. 

We  can  not  as  a  nation  be  too  pro- 
foundly grateful  for  the  fact  that  the  Puri- 
tan has  stamped  his  influence  so  deeply 
on  our  national  life.  We  need  have  but 
scant  patience  with  the  men  who  now  rail 
at  the   Puritan's   faults.     They  were   evi- 


dent, of  course,  for  it  is  a  quality  of  strong      i 
natures   that  their  failings,  like  their  vir- 
tues, should  stand  out  in  bold  relief;  but 


6 

there  is  nothing  easier  than  to  belittle  the 

great  men  of  the  past  by  dvvelUng  only  on 
the  points  where  they  come  short  of  the 
universally  recognized  standards  of  the 
present.  Men  must  be  judged  with  refer- 
ence to  the  age  in  which  they  dwell, 
and  the  work  they  have  to  do.  The 
Puritan's  task  was  to  conquer  a  con- 
tinent; not  merely  to  overrun  it,  but 
to  settle  it,  to  till  it,  to  build  upon  it 
a  high  industrial  and  social  life;  and, 
while    engaged    in    the    rough   work     of 


V 


7 

taming  the  shaggy  wilderness,  at  that  very 

time  also  to  lay  deep  the  immovable  foun- 
dations of  our  whole  American  system  of 
I       civil,     political,     and      religious      liberty 
achieved  through  the    orderly  process  of 

1      law.     This  was   the  work  allotted  him  to 

1 

do;  this  is  the  work  he  did;  and  only  a 
master  spirit  among  men  could  have 
done  it. 

We  have  traveled  far  since  his  day. 
That  liberty  of  conscience  which  he  de- 
manded for  himself,  we  now  realize  must 


8 

be  as   freely  accorded  to  others    as  it  is 

resolutely  insisted  upon  for  ourselves. 
The  splendid  qualities  which  he  left 
to  his  children,  we  other  Americans 
who  are  not  of  Puritan  blood  also  claim 
as  our  heritage.  You,  sons  of  the  Puri- 
tanS;  and  we,  who  are  descended  from 
races  whom  the  Puritans  would  have 
deemed  alien — we  are  all  Americans  to- 
gether. We  all  feel  the  same  pride  in  the 
genesis,  in  the  history,  of  our  people;  and 
therefore  this  shrine  of  Puritanism  is  one 


9 
at  which  we  all  gather  to  pay  homage,  no 

matter  from  what  country   our   ancestors 

sprang. 

We  have  gained  some  things  that  the 

Puritan  had  not — we   of  this  generation, 

we  of  the  twentieth  century,  here   in  this 

great  Republic;  but  we  are  also  in  danger 

of  losing  certain  things  which  the  Puritan 

had   and  which  we  can  by  no   manner  of 

means  afford    to   lose.     We  have  gained 

a  joy  of  living  which   he   had    not,   and 

which  it  is  a  good  thing  for  every  people 


lO 

to  have  and  to  develop.  Let  us  see 
to  it  that  we  do  not  lose  what  is 
more  important  still ;  that  we  do  not 
lose  the  Puritan's  iron  sense  of  duty, 
his  unbending,  unflinching  will  to  do 
the  right  as  it  was  given  him  to  see  the 

I 

right.  It  is  a  good  thing  that  life  should 
gain  in  sweetness,  but  only  provided  that 
it  does  not  lose  in  strength.  Ease  and 
rest  and  pleasure  are  good  things,  but 
only  if  they  come  as  the  reward  of  work 
well  done,  of  a  good    fight  well  won,  of 


1 1 

strong  effort  resolutely  made  and  crowned 

by  high  achievement.  The  life  of  mere 
pleasure,  of  mere  effortless  ease,  is  as 
ignoble  for  a  nation  as  for  an  individual. 
The  man  is  but  a  poor  father  who  teaches 
his  sons  that  ease  and  pleasure  should  be 
their  chief  objects  in  life ;  the  woman  who 
is  a  mere  petted  toy,  incapable  of  serious 
purpose,  shrinking  from  effort  and  duty, 
is  more  pitiable  than  the  veriest  over- 
worked drudge.  So  he  is  but  a  poor 
leader  of  the  people,  but  a  poor  national 


V 


12 

adviser,  who  seeks  to  make  the  nation  in 
any  way  subordinate  effort  to  ease,  who 
would  teach  the  people  not  to  prize  as  the 
greatest  blessing  the  chance  to  do  any 
work,  no  matter  how  hard,  if  it  becomes 
their  duty  to  do  it.  To  the  sons  of  the 
Puritans  it  is  almost  needless  to  say  that  the 
lesson  above  all  others  which  Puritanism  can 
teach  this  nation  is  the  all-importance  of 
j— iheLjcesolute  performance  of  duty.  If  we  are 
men  we  will  pass  by  with  contemptuous 
disdain    alike    the    advisers    who    would 


13 

seek  to  lead  us  into  the  paths  of  ignoble 

ease  and  those  who  would  teach  us  to 
admire  successful  wrongdoing.  Our 
ideals  should  be  high,  and  yet  they 
should  be  capable  of  achievement  in 
practical  fashion;  and  we  are  as 
little  to  be  excused  if  we  permit  our  ideals 
to  be  tainted  with  what  is  sordid  and 
mean  and  base,  as  if  we  allow  our  power 
of  achievement  to  atrophy  and  become 
either  incapable  of  effort  or  capable  only 
of  such  fantastic  effort  as   to  accomplish 


nothing  of  permanant  good.  The  true 
doctrine  to  preach  to  this  nation,  as  to 
the  individuals  composing  this  nation,  is 
not  the  life  of  ease,  but  the  life  of  effort. 
If  it  were  in  my  power  to  promise  the 
people  of  this  land  anything,  I  would  not 
promise  them  pleasure.  I  would  promise 
them  that  stern  happiness  which  comes 
from  the  sense  of  having  done  in  practical 
fashion  a  difficult  work  which  was  worth 
doing. 

The  Puritan    owed   his   extraordinary 


15 

success   in    subduing  this  continent    and 

making  it  the  foundation  for  a  social  life 
of  ordered  liberty  primarily  to  the  fact 
that  he  combined  in  a  very  remarkable 
degree  both  the  power  of  individual 
initiative,  of  individual  self-help,  and  the 
power  of  acting  in  combination  with  his 
fellows;  and  that  furthermore  he  joined 
to  a  high  heart  that  shrewd  common 
sense  which  saves  a  man  from  the 
besetting  sins  of  the  visionary  and  the 
doctrinaire.     He  was   stout   hearted  and 


i6 
hard    headed.     He    had   lofty    purposes, 

but  he  had  practical  good  sense,  too. 
He  could  hold  his  own  in  the  rough 
workaday  world  without  clamorous  insist- 
ence upon  being  helped  by  others,  and  yet 
he  could  combine  with  others  whenever  it 
became  necessary  to  do  a  job  which  could 
not  be  as  well  done  by  any  one  man  indi- 
vidually. 

These  were  the  qualities  which  enabled 
him  to  do  his  work,  and  they  are  the  very 
qualities  which  we  must  show  in  doing  our 


I 


17 

work  to-day.  There  is  no  use  in  our  com- 
ing here  to  pay  homage  to  the  men  who 
founded  this  nation  unless  we  first  of  all 
come  in  the  spirit  of  trying  to  do  our  work 
to-day  as  they  did  their  work  in  the  yester- 
days that  have  vanished.  The  problems 
shift  from  generation  to  generation,  but  the 
spirit  in  which  they  must  be  approached, 
if  they  are  to  be  successfully  solved,  re- 
mains ever  the  same.  The  Puritan  tamed 
the  wilderness,  and  built  up  a  free  govern- 
ment on  the  stump-dotted  clearings  amid 


f 


i8 

the  primeval  forest.    His  descendants  must 

I  try  to  shape  the  life  of  our  complex  indus- 

I  trial   civilization  by  new  devices,  by  new 

i 
i 
I  methods,  so  as  to  achieve  in  the  end  the 

! 

'  same  results   of  justice  and   fair   dealing 

toward  all.      He  cast   aside   nothing  old 

merely  for  the  sake  of  innovation,  yet  he 

did  not  hesitate  to  adopt  anything  new  that 

would  save  his  purpose.    When  he  planted 

his  commonwealths  on  this  rugged  coast  - 

he     faced    wholly    new    conditions    and 

he    had     to     devise     new     methods     of 


19 

meeting    them.     So    we    of    to-day  face 

wholly  new  conditions  in  our  social  and 
industrial  life.  We  should  certainly  not 
adopt  any  new  scheme  for  grappling  with 
them  merely  because  it  is  new  and  un- 
tried; but  we  can  not  afford  to  shrink 
from  grappling  with  them  because  they 
can  only  be  grappled  with  by  some  new 
scheme. 

The  Puritan  was  no  Laodicean,  no 
laissez-faire  theorist.  When  he  saw  con- 
duct which  was  in  violation  of  his  rights — 


\ 


20 
of  the  rights  of  man,  the  rights  of  God,  as 

he  understood  them  —  he  attempted  to 
regulate  such  conduct  with  instant, 
unquestioning  promptness  and  effective- 
ness. If  there  was  no  other  way  to 
secure  conformity  with  the  rule  of  right, 
then  he  smote  down  the  transgressor 
with  the  iron  of  his  wrath.  The  spirit  of 
the  Puritan  was  a  spirit  which  never 
shrank  from  regulation  of  conduct  if  such 
regulation  was  necessary  for  the  public 
weal;    and    this    is    the    spirit    which    we 


21 

must   show    to-day  whenever   it    is    nec- 
essary. 

The  utterly  changed  conditions  of  our 
national  life  necessitate  changes  in  certain 
of  our  laws,  of  our  governmental  methods. 
Our  federal  system  of  government  is  based 
upon  the  theory  of  leaving  to  each 
community,  to  each  State,  the  con- 
trol over  those  things  which  affect 
only  its  own  members  and  which  the 
people  of  the  locality  themselves  can 
best     grapple     with,     while      providing 


22 

for  national  regulation  in  those  matters 
which  necessarily  affect  the  nation  as  a 
whole.  It  seems  to  me  that  such  questions 
as  national  sovereignty  and  state's  rights 
need  to  be  treated  not  empirically  or  aca- 
demically, but  from  the  standpoint  of  the 
interests  of  the  people  as  a  whole.  National 
sovereignty  is  to  be  upheld  in  so  far  as  it 
means  the  sovereignty  of  the  people  used 
for  the  real  and  ultimate  good  of  the  people; 
and  state's  rights  are  to  be  upheld  in  so 
far   as    they    mean    the    people's    rights. 


23 

Especially  is  this  true  in  dealing  with  the 
relations  of  the  people  as  a  whole  to  the 
great  corporations  which  are  the  distin- 
guishing feature  of  modern  business  con- 
ditions. 

Experience  has  shown  that  it  is  nec- 
essary to  exercise  a  far  more  efficient  con- 
trol than  at  present  over  the  business  use 
of  those  vast  fortunes,  chiefly  corporate, 
which  are  used  (as  under  modern*  condi- 
tions they  almost  invariably  are)  in  inter- 
state   business.     When    the   Constitution 


24 

was  created  none  of  the  conditions  of 
modern  business  existed.  They  are 
wholly  new  and  we  must  create  new 
agencies  to  deal  effectively  with  them. 
There  is  no  objection  in  the  minds 
of  this  people  to  any  man's  earning 
any  amount  of  money  if  he  does  it  hon- 
estly and  fairly,  if  he  gets  it  as  the  result 
of  special  skill  and  enterprise,  as  a  re- 
ward of  ample  service  actually  rendered. 
\  But  there  is  a  growing  determination  that 
no  man  shall   amass  a   great  fortune  by 


25 

special  privilege,  by  chicanery  and  wrong- 
doing, so  far  as  it  is  in  the  power  of 
legislation  to  prevent;  and  that  a 
fortune,  however  amassed,  shall  not  have 

a    business  use  that  is   antisocial.  '    Most 

— I 

large  corporations  do  a  business  that  is 
not  confined  to  any  one  State.  Experi- 
ence has  shown  that  the  effort  to  con- 
trol these  corporations  by  mere  State 
action  can  not  produce  wholesome  re- 
sults. In  most  cases  such  effort  fails  to 
correct  the  real  abuses  of  which  the   cor- 


26 

poration  is  or  may  be  guilty;  while  in 
other  cases  the  effort  is  apt  to  cause 
either  hardship  to  the  corporation  itself, 
or  else  hardship  to  neighboring  States 
which  have  not  tried  to  grapple  with  the 
problem  in  the  same  manner;  and  of 
course  we  must  be  as  scrupulous  to  safe- 
guard the  rights  of  the  corporations  as  to 
exact  from  them  in  return  a  full  measure 
of  justice  to  the  public.  I  believe  in  a 
national  incorporation  law  for  corporations 
engaged  in  interstate  business.     I  believe, 


27 

furthermore,  that  the  need  for  action 
is  most  pressing  as  regards  those  cor- 
porations which,  because  they  are 
common  carriers,  exercise  a  quasi- 
pubHc  function;  and  which  can  be  com- 
pletely controlled,  in  all  respects  by  the 
Federal  Government,  by  the  exercise  of 
the  power  conferred  under  the  interstate- 
commerce  clause,  and,  if  necessary,  under 
the  post-road  clause,  of  the  Constitu- 
tion. During  the  last  few  years  we 
have   taken    marked    strides    in    advance 


28 

along  the  road  of  proper  regulation  of 
these  railroad  corporations;  but  we  must 
not  stop  in  the  work.  The  National  Gov- 
ernment should  exercise  over  them  a 
similar  supervision  and  control  to  that 
which  it  exercises  over  national  banks. 
We  can  do  this  only  by  proceeding  far- 
ther along  the  lines  marked  out  by  the 
recent  national  legislation. 

In  dealing  with  any  totally  new  set  of 
conditions  there  must  at  the  outset  be  hesi- 
tation and  experiment.     Such  has  been  our 


29 

experience  in  dealing  with  the  enormous 
concentration  of  capital  employed  in  inter- 
state business.  Not  only  the  legislatures 
but  the  courts  and  the  people  need  gradu- 
ally to  be  educated  so  that  they  may  see 


what  the  real   wrongs   are  and  what  the 


real  remedies.  Almost  every  big  business 
concern  is  engaged  in  interstate  com- 
merce, and  such  a  concern  must  not  be 
allowed  by  a  dexterous  shifting  of  posi- 
tion, as  has  been  too  often  the  case  in 
the  past,  to  escape  thereby  all  responsi- 


30 

bility  either   to  State   or  to  nation.     The 

American  people-  became  firmly  con- 
vinced of  the  need  of  control  over 
these  great  aggregations  of  capital,  espe- 
cially where  they  had  a  monopolistic 
tendency,  before  they  became  quite  clear 
as  to  the  proper  way  of  achieving  the  con- 
trol. Through  their  representatives  in 
Congress  they  tried  two  remedies,  which 
were  to  a  large  degree,  at  least  as 
interpreted  by  the  courts,  contradic- 
tory.    On  the  one  hand,  under  the  anti- 


31 
trust  law  the  effort  was  made  to  prohibit 

all  combination,  whether  it  was  or  was  not 
hurtful  or  beneficial  to  the  public.  On 
the  other  hand,  through  the  interstate- 
commerce  law  a  beginning  was  made  in 
exercising  such  supervision  and  control 
over  combinations  as  to  prevent  their 
doing  anything  harmful  to  the  body 
politic.  The  first  law,  the  so-called  Sher- 
man law,  has  filled  a  useful  place,  for  it 
bridges  over  the  transition  period  until  the 
American  people  shall  definitely  make  up 


32 

its  mind  that  it  will  exercise  over  the  great 
corporations  that  thoroughgoing  and  radi- 
cal control  which  it  is  certain  ultimately  to 
find  necessary.  The  principle  of  the  Sher- 
man law  so  far  as  it  prohibits  combina- 
tions which,  whether  because  of  their  extent 
or  of  their  character,  are  harmful  to 
the  public  must  always  be  preserved. 
Ultimately,  and  1  hope  with  reason- 
able speed,  the  National  Government 
must  pass  laws  which,  while  increasing 
the  supervisory  and    regulatory  power  of 


33 
the  Government,  also  permits  such  useful 

combinations  as  are  made  with  absolute 
openness  and  as  the  representatives  of  the 
Government  may  previously  approve. 
But  it  will  not  be  possible  to  permit  such 
combinations  save  as  the  second  stage  in 
a  course  of  proceedings  of  which  the  first 
stage  must  be  the  exercise  of  a  far  more 
complete  control  by  the  National  Gov- 
ernment. 

In    dealing    with     those    who    offend 
against  the  antitrust  and   interstate  com- 


34 

merce  laws  the  Department  of  Justice  has 

to  encounter  many  and  great  difficulties. 
Often  men  who  have  been  guilty  of  \'io- 
lating  these  laws  have  really  acted  in 
criminal  fashion,  and  if  possible  should  be 
proceeded  against  criminally;  and  there- 
fore it  is  advisable  that  there  should 
be  a  clause  in  these  laws  providing 
for  such  criminal  action,  and  for  pun- 
ishment by  imprisonment  as  well  as 
by  fine.  But,  as  is  well  known,  in  a 
criminal    action   the    law  is    strictly  con- 


35 
strued  in  favor  of  the  defendant,  and  in 

our    country,    at   least,    both   judge    and 

jury  are  far  more  inclined  to  consider  his 

rights  than  they  are  the  interests  of  the 

general   public;   while    in    addition    it    is 

always  true  that  a  man's  general  practices 

may    be    so    bad     that     a    civil    action 

will    lie   when    it    may   not    be    possible 

to  convict  him  of  any    one  criminal    act. 

There   is  unfortunately  a  certain  number 

of  our  fellow-countrymen   who    seem   to 

accept  the  view  that  unless  a  man  can  be 


36 
proved  guilty  of  some  particular  crime  he 

shall  be  counted  a  good  citizen,  no  mat- 
ter how  infamous  the  life  he  has  led, 
no  matter  how  pernicious  his  doctrines  or 
his  practices.  This  is  the  view  announced 
from  time  to  time  with  clamorous  insist- 
ence, now  by  a  group  ol  predatory  capi- 
talists, now  by  a  group  of  sinister 
anarchistic  leaders  and  agitators,  when- 
ever a  special  champion  of  either  class, 
no  matter  how  evil  his  general  life,  is 
acquitted    of    some    one    specific    crime. 


37 
Such  a  view  is  wicked  whether  applied  to 

capitalist  or  labor  leader,  to  rich  man  or 
poor  man;  (and  by  the  way,  I  take  this  op- 
portunity of  stating  that  all  that  I  have  said 
in  the  past  as  to  desirable  and  undesirable 
citizens  remains  true,  and  that  I  stand  by  it). 
We  have  to  take  this  feeling  into 
account  when  we  are  debating  whether 
it  is  possible  to  get  a  conviction  in 
a  criminal  proceeding  against  some  rich 
trust  magnate,  many  of  whose  actions 
are     severely    to    be     condemned    from 


38 

the   moral   and  social  standpoint,  but  no 

one  of  whose  actions  seems  clearly  to 
establish  such  technical  guilt  as  will  en- 
sure a  conviction.  As  a  matter  of  expe- 
diency, in  enforcing  the  law  against  a 
great  corporation,  we  have  continually  to 
weigh  the  arguments  pro  and  con  as  to 
whether  a  prosecution  can  successfully  be 
entered  into,  and  as  to  whether  we  can  be 
successful  in  a  criminal  action  against  the 
chief  individuals  in  the  corporation,  and  if 
not  whether  we  can  at  least  be  successful 


39 

in  a  civil  action  against  the  corporation  it- 
self. Any  effective  action  on  the  part  of  the 
Government  is  always  objected  to,  as  a 
matter  of  course,  by  the  wrongdoers,  by  the 
beneficiaries  of  the  wrongdoers,  and  by 
their  champions ;  and  often  one  of  the  most 
effective  ways  of  attacking  the  action 
of  the  Government  is  by  objecting  to  prac- 
tical action  upon  the  ground  that  it  does 
not  go  far  enough.  One  of  the  favorite 
devices  of  those  who  are  really  striving  to 
prevent  the  enforcement  of  these  laws  is 


40 

to  clamor  for  action   of  such  severity  that 

it  can  not  be  undertaken  because  it  will  be 
certain  to  fail  if  tried.  An  instance  of  this 
is  the  demand  often  made  for  criminal 
prosecutions  where  such  prosecutions 
would  be  certain  to  fail.  We  have 
found  by  actual  experience  that  a  jury 
which  will  gladly  punish  a  corporation 
by  fine,  for  instance,  will  acquit  the  in- 
dividual members  of  that  corporation  if 
we  proceed  against  them  criminally 
because  of   those  very  things  which   the 


41 

corporation  which  they  direct  and  con- 
trol has  done.  In  a  recent  case  against 
the  Licorice  Trust  we  indicted  and 
tried  the  two  corporations  and  their 
respective  presidents.  The  contracts 
and  other  transactions  establishing  the 
guilt  of  the  corporations  were  made 
through,  and  so  far  as  they  were  in  writ- 
ing were  signed  by,  the  two  presidents. 
Yet  the  jury  convicted  the  two  corpora- 
tions and  acquitted  the  two  men.  Both 
verdicts  could  not  possibly  have  been  cor- 


42 

rect ;  but  apparently  the  average  juryman 
wishes  to  see  trusts  broken  up,  and  is 
quite  ready  to  fine  the  corporation  itself; 
but  is  very  reluctant  to  find  the  facts 
"proven  beyond  a  reasonable  doubt" 
when  it  comes  to  sending  to  jail  a 
reputable  member  of  the  business  com- 
munity for  doing  what  the  business  com- 
munity has  unhappily  grown  to  recognize 
as  well-nigh  normal  in  business.  More- 
over, under  the  necessary  technicalities  of 
criminal  proceedings,  often  the  only  man 


43 

who  can  be  reached  criminally  will  be  some 

subordinate  who  is  not  the  real  guilty  party 
at  all. 

/  Many  men  of  large  wealth  have  been 
guilty  of  conduct  which  from  the  moral 
standpoint  is  criminal,  and  their  misdeeds 
are  to  a  peculiar  degree  reprehensible, 
because  those  committing  them  have  no 
excuse  of  want,  of  poverty,  of  weakness 
and  ignorance  to  offer  as  partial  atone- 
ment.  /  When  in  addition  to  moral  re- 
sponsibility  these  men  have  a  legal  respon- 


44 

sibility  which  can  be  proved  so  as  to  im- 
press a  judge  and  jury,  then  the  Department 
will  strain  every  nerve  to  reach  them  crimi- 
nally. Where  this  is  impossible,  then  it 
will  take  whatever  action  will  be  most 
effective  under  the  actual  conditions. 

In  the  last  six  years  we  have  shown 
that  there  is  no  individual  and  no  cor- 
poration so  powerful  that  he  or  it  stands 
above  the  possibility  of  punishment  under 
the  law.  Our  aim  is  to  try  to  do  some- 
thing effective;  our  purpose  is    to  stamp 


45 
out  the   evil;    we  shall   seek  to   find    the 

most  effective  device  for  this  purpose ;  and 
we  shall  then  use  it,  whether  the  device 
can  be  found  in  existing  law  or  must  be 
supplied  by  legislation.  Moreover,  when 
we  thus  take  action  against  the  wealth 
which  works  iniquity,  we  are  acting  in 
the  interest  of  every  man  of  property  who 
acts  decently  and  fairly  by  his  fellows ;  and 
we  are  strengthening  the  hands  of  those 
who  propose  fearlessly  to  defend  property 
against  all  unjust  attacks.     No  individual, 


46 

no  corporation,  obeying  the  law  has  any- 
thing to  fear  from  this  Administration. 
During  the  present  trouble  with  the 
stock  market  I  have,  of  course,  received 
countless  requests  and  suggestions,  public 
and.  private,  that  I  should  say  or  do  some- 
thing  to  ease  the  situation,  j  There  is  a 
world-wide  financial  disturbance;  it  is  felt 
in  the  bourses  of  Paris  and  Berlin;  and 
British  consols  are  lower  than  for  a  gen- 
eration, while  British  railway  securities 
have    also    depreciated.      On    the     New 


47 

York    Stock    Exchange    the    disturbance 


'fe' 


has  been  peculiarly  severe.  Most  of  it  I  be- 
lieve to  be  due  to  matters  not  peculiar  to  the 
United  States,  and  most  of  the  remainder 
to  matters  wholly  unconnected  with  any 
governmental  action;  but  it  may  well  be 
that  the  determination  of  the  Government 
(in  which,  gentlemen,  it  will  not  waver), 
to  punish  certain  malefactors  of  great 
wealth,  has  been  responsible  for  some- 
thing of  the  trouble ;  at  least  to  the  extent 
of  having  caused  these  men  to  combine  to 


48 

bring   about  as  much  financial   stress  as 

possible,  in  order  to  discredit  the  policy 
of  the  Government  and  thereby  secure  a 
reversal  of  that  policy,  so  that  they  may 
enjoy  unmolested  the  fruits  of  their  own 
evil-doing.  That  they  have  misled  many 
good  people  into  believing  that  there  should 
be  such  reversal  of  policy  is  possible.  If  so 
I  am  sorry;  but  it  will  not  alter  my  attitude. 
Once  for  all  let  me  say  that  so  far  as  I  am 
concerned,  and  for  the  eighteen  months  of 
my  Presidency  that  remain,  there  will  be 


49 

no  change  in  the  policy  we  have  steadily 

pursued,  no  let  up  in  the  effort  to  secure 
the  honest  observance  of  the  law ;  for  I  re- 
gard this  contest  as  one  to  determine  who 
shall  rule  this  free  country — the  people 
through  their  governmental  agents  or  a 
few  ruthless  and  domineering  men,  whose 
wealth  makes  them  peculiarly  formi- 
dable, because  they  hide  behind  the 
breastworks  of  corporate  organization. 
I  wish  there  to  be  no  mistake  on  this 
point;  it  is  idle  to  ask   me  not  to  prose- 


50 

cute  criminals,  rich  or  poor.     But  I  desire 

no  less  emphatically  to  have  it  under- 
stood that  we  have  sanctioned  and  will 
sanction  no  action  of  a  vindictive 
type,  and  above  all  no  action  which 
shall  inflict  great  and  unmerited  suffer- 
ing upon  innocent  stockholders  or  upon 
the  public  as  a  whole.  Our  purpose 
is  to  act  with  the  minimum  of 
harshness  compatible  with  attaining 
our  ends.  In  the  man  of  great  wealth 
who  has  earned  his  wealth  honestly  and 


51 

uses  it  wisely  we  recognize  a  good  citizen 

of  the  best  type,  worthy  of  all  praise  and 
respect.  Business  can  only  be  done  under 
modern  conditions  through  corporations, 
and  our  purpose  is  heartily  to  favor  the 
corporations  that  do  well.  The  Adminis- 
tration appreciates  that  liberal  but  honest 
profits  for  legitimate  promoting,  good 
salaries,  ample  salaries,  for  able  and 
upright  management,  and  gener- 
ous dividends  for  capital  employed 
either      in       founding       or      continuing 


52 

wholesome  business  ventures,  are  the 
factors  necessary  for  successful  corporate 
activity  and  therefore  for  generally  pros- 
perous business  conditions.  All  these 
are  compatible  with  fair  dealing  as  between 
man  and  man  and  rigid  obedience  to  the 
law.  Our  aim  is  to  help  every  honest 
man,  every  honest  corporation,  and  our 
policy  means  in  its  ultimate  analysis  a 
healthy  and  prosperous  expansion  of  the 
business  activities  of  honest  business  men 
and  honest  corporations. 


53 

I  very  earnestly  hope  that  the  legisla- 
tion which  deals  with  the  regulation  of 
corporations  engaged  in  interstate  business 
will  also  deal  with  the  rights  and  interests 
of  the  wageworkers  employed  by  those 
corporations.  Action  was  taken  by  the 
Congress  last  year  limiting  the  number 
of  hours  that  railway  employees  should 
be  employed.  The  law  is  a  good  one; 
but  if  in  practice  it  proves  necessary 
to  strengthen  it,  it  must  be  strengthened. 
We  have    now    secured  a    national    em- 


54 

ployers'    liability    law;    but    ultimately   a 

more  far-reachmg  and  thorough-going 
law  must  be  passed.  It  is  monstrous 
that  a  man  or  woman  who  is  crippled  in 
an  industry,  even  as  the  result  of  taking 
what  are  the  necessary  risks  of  the  occupa- 
tion, should  be  required  to  bear  the  whole 
burden  of  the  loss.  That  burden  should 
be  distributed  and  not  placed  solely  upon 
the  weakest  individual,  the  one  least  able 
to  carry  it.  By  making  the  employer 
liable    the    loss    will    ultimately  be    dis- 


55 
tributed     among    all    the   beneficiaries  of 


the  business. 

I  also  hope  that  there  will  be  legisla- 
tion increasing  the  power  of  the  National 
Government  to  deal  with  certain  matters 
concerning  the  health  of  our  people  every- 
where; the  Federal  authorities,  for  instance, 
should  join  with  all  the  State  authorities 
in  warring  against  the  dreadful  scourge  of 
tuberculosis.  Your  own  State  govern- 
ment, here  in  Massachusetts,  deserves  high 
praise  for  the  action  it  has  taken  in  these 


56 
public  health  matters  during  the  last  few 

years;  and  in  this,  as  in  some  other  mat- 
ters, I  hope  to  see  the  National  Govern- 
ment stand  abreast  of  the  foremost  State 
governments. 

I  have  spoken  of  but  one  or  two  laws 
which,  in  my  judgment,  it  is  advisable  to 
enact  as  part   of  the  general   scheme  for 


makingtheinterfcrenceof  thcNationalGov- 


ernment  more  effective  in  securing  justice 
and  fair  dealing  as  between  man  and  man 
here   in  the  United  States.     Let  me  add, 


57 
however,  that  while  it  is  necessary  to  have 

legislation  when  conditions  arise  wheie  we 

can    only  cope    with    evils    through    the 

joint  action  of  all  of  us,  yet  that  we  can 

never   afford   to  forget  that    in    the    last 

analysis  the  all-important  factor  for  each  of 

us  must  be  his  own  individual  character. 

It  is  a  necessary  thing  to  have  good  laws, 

good  institutions;  but  the  most  necessary 

of  all  things  is  to  have  a  high  quality  of 

individual  citizenship.    This  does  not  mean 

that  we  can  afford  to  neglect  legislation. 


58 

It  will  be  highly  disastrous  if  we  permit 

ourselves  to  be  misled  by  the  pleas  of 
those  who  see  in  an  unrestricted  individ- 
ualism the  all-sufficient  panacea  for  social 
evils;  but  it  will  be  even  more  disastrous 
to  adopt  the  opposite  panacea  of  any  so- 
cialistic system  which  would  destroy  all 
individualism,  which  would  root  out  the 
fiber  of  our  whole  citizenship.  In  any 
great  movement,  such  as  that  in  which  we 
are  engaged,  nothing  is  more  necessary 
than  sanity,  than   the   refusal    to   be  led 


59 

into   extremes   by  the    advocates    of   the 

ultra  course  on  either  side.  Those  pro- 
fessed friends  of  liberty  who  champion 
license  are  the  worst  foes  of  liberty  and 
tend  by  the  reaction  their  violence  causes 
to  throw  the  Government  back  into 
the  hands  of  the  men  who  champion 
corruption  and  tyranny  in  the  name 
of  order.  So  it  is  with  this  movement 
for  securing  justice  toward  all  men,  and 
equality  of  opportunity  so  far  as  it  can 
be  secured  by  governmental  action.     The 


6o 

rich  man  who  with  hard  arrogance  de- 
clines to  consider  the  rights  and  the  needs 
of  those  who  are  less  well  off,  and  the 
poor  man  who  excites  or  indulges  in 
envy  and  hatred  of  those  who  are  bet- 
ter off,  are  alike  alien  to  the  spirit 
of  our  national  life.  Each  of  them  should 
learn  to  appreciate  the  baseness  and  deg- 
radation of  his  point  of  view,  as  evil 
in  the  one  case  as  in  the  other.  There 
exists  no  more  sordid  and  unlovely  type 
of  social  development  than  a  plutocracy, 


6i 

for  there  is  a  peculiar  unwholesomeness 

in  a  social  and  governmental  ideal  where 
wealth  by  and  of  itself  is  held  up  as  the 
greatest  good.  The  materialism  of  such  a 
view,  whether  it  finds  its  expression  in  the 
life  of  a  man  who  accumulates  a  vast  for- 
tune in  ways  that  are  repugnant  to  every 
instinct  of  generosity  and  of  fair  dealing, 
or  whether  it  finds  its  expression  in  the 
vapidly  useless  and  self-indulgent  life  of 
the  inheritor  of  that  fortune,  is  contemptible 
in  the  eyes  of  all  men  capable  of  a  thrill  of 


62 

lofty  feeling.  Where  the  power  of  the  law 
can  be  wisely  used  to  prevent  or  to  mini- 
mize the  acquisition  or  business  employ- 
ment of  such  wealth  and  to  make  it  pay 
by  income  or  inheritance  tax  its  proper 
share  of  the  burden  of  government,  I 
would  invoke  that  power  without  a  mo- 
ment's hesitation. 

But  while  we  can  accomplish  something 
by  legislation,  legislation  can  never  be 
more  than  a  part,  and  often  no  more  than 
a   small   part,    in   the  general   scheme   of 


63 
moral  progress;  and  crude  or    vindictive 

legislation  may  at  any  time  bring  such 
progress  to  a  halt.  Certain  socialistic 
leaders  propose  to  redistribute  the 
world's  goods  by  refusing  to  thrift  and 
energy  and  industry  their  proper  superior- 
ity over  folly  and  idleness  and  sullen  envy. 
Such  legislation  would  merely,  in  the 
words  of  the  president  of  Columbia  Uni- 
versity, "wreck  the  world's  efficiency  for 
the  purpose  of  redistributing  the  world's 
discontent."       We     should     all     of    us 


64 
work  heart  and  soul  for  the  real  and  per- 
manent betterment  which  will  lift  our 
democratic  civilization  to  a  higher  level  of 
safety  and  usefulness.  Such  betterment 
can  come  only  by  the  slow,  steady  growth 
of  the  spirit  which  metes  a  generous,  but 
not  a  sentimental,  justice  to  each  man  on 
his  merits  as  a  man,  and  which  recognizes 
the  fact  that  the  highest  and  deepest  hap- 
piness for  the  individual  lies  not  in  selfish- 
ness but  in  service. 


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