centers of the country, after the publicity which these names and their manifest connection and control have evoked, more "dummies" will be found (laughter), and that it will be a work requiring more industry and research to root out the control of the men whose names appear and what they represent. But it can be done. It will be done. Mr. President, in the course of my discussion of this momentous question I have produced official records to prove that the massing and centralization of this great money power in the hands of these few men, coupled with the operation of the national banking laws, has resulted in gathering into a few great group banks in New York City practically all the surplus money of the entire country. I have produced record evidence to prove that commercial banking is being swallowed up in financial and speculative banking. I tried to suggest something of the enormous danger threatening our business integrity resulting from this change. I traced briefly the story of the recent panic; showed that legitimate industry was prosperous; that commercial reasons for a panic were wanting; but that there were other reasons sufficient for its promoters-speculative, political and legislative reasons. To accomplish these several purposes the panic was carefully planned and skillfully staged. It was eminently successful. It removed obstacles in the highways of finance, settled old scores, made money for its managers, rebuked the "square-deal" administration, disposed of the "third-term" menace, weakened support for political policies inimical to fictitious capitalization, and prepared the way for emergency currency legislation. Accordingly, we have this bill before the senate. My friends, each individual has a higher degree of citizenship to perform than that of his own immediate interests. The interest that every man has in seeing to it that this government is the very best govern ment on earth, is an obligation of citizenship, that is too often regarded too lightly. Within the last few years I have looked into the faces of thousand upon thousands in all the states, between Pennsylvania and this Pacific Slope, and I tell you to-night-you business men-that you underrate the interest and the intelligence and the determination of the great body of the people, if you think they will longer consent meekly to pay arbitrary trust prices for manufactured products and extravagant transportation charges in order to furnish an income to the holders of watered stocks. What is the proper time to limit capitalization to actual investment? If it is not now, when we are on the threshold of the greatest danger that ever menaced free institutions, when, I ask, in God's Holy Name, should we begin to act? I say to you with all the sincerity, and with all the zeal, and with all the patriotism that I possess, that the experience of this government in the past admonishes us to consider these questions now. To consider them at our firesides, at our counting-rooms, and in our workshops, and at the plowshare, and at the polls. VELT ROOSE. Flays the Monocrats in a Special Message-Control "As regards the employers' liability law, I advocate its immediate re-enactment, limiting its scope so that it shall apply only to the class of cases as to which the court says it can constitutionally apply, but strengthening its provisions within this scope. Interstate employment being thus covered by an adequate national law, the field of interstate employment will be left to the action of the several states. "I also very urgently advise that a comprehensive act be passed providing for compensation by the government to all employes injured in the government service. Under the present law, an injured workman in the employment of the government has no remedy, and the entire burden of the accident falls on the helpless man, his wife and his young children. "It is all wrong to use the injunction to prevent the entirely proper and legitimate actions of labor organizations in their struggle for industrial betterment, or under the guise of protecting property rights unwarrantably to avoid the fundamental rights of the individual. LABOR ABUSED BY INJUNCTION. "I again call your attention to the need of some action in connecton with the abuse of injunctions in labor cases. As regards the rights and wrongs of labor and capital, from blacklisting and boycotting, the whole matter is covered in admirable fashion by the report of the Anthracite Coal Strike Commission, which report should serve as a chart for the guidance of both legislative and executive officers. "Not only should there be action on certain laws affecting wage earners; there should also be such action on laws better to secure control over great business concerns engaged in interstate commerce and especially over the great common carriers. The Interstate Commerce Commission should be empowered to pass upon any rate or practice on its own initiative. "The public men, lawyers and editors, who loudly proclaim their sympathy for the 'innocent stockholders,' when some great law-defying corporation is punished, are the first to protest with frantic vehemence against all effort by law to put a stop to the practices which are the real and ultimate source of damage alike to the stockholders and the public. MUST SHACKLE CUNNING. "The new conditions make it necessary to shackle cunning, as in the past we have shackled force. The vast individual and corporate fortunes, the vast combinations of capital which have marked the development of our industrial system, create new conditions and necessitate a change from the old attitude of the state and the nation toward the rules regulating the acquisition and untrammeled business use of property, in order both that property may be adequately protected and that at the same time those who hold it may be prevented from wrong-doing. WEALTH MUST BE CONTROLLED. "The nation will not tolerate an utter lack of control over very wealthy men of enormous wealth in the industrial, and therefore, in the social lives of all our people, some of whom have shown themselves cynically and brutally indifferent to the interests of the people, and if the congress does not act with good tempered and sensible but resolute thoroughness in cutting out the evils and providing an effective supervision, the result is certain to be action on the part of the separate states. HONESTY IS NECESSARY. "The methods by which the Standard Oil people and those engaged in the other combinations I have spoken of above have achieved great fortunes, can only be justified by the advocacy of a system of morality which would also justify every form of criminality on the part of a labor union, and every form of violence, corruption and fraud, from murder to bribery and ballot box stuffing, in politics. PREVENT STOCK GAMBLING. "I do not know whether it is possible, but if possible, it is certainly desirable, that in connection with measures to restrain stock watering and over-capitalizing there should be measures taken to prevent, at least, the grosser forms of gambling in securities and commodities, such as making large sales of what men do not possess, and 'cornering' the market. SUBSIDIZING OF WRITERS. "The attacks by great corporations on the administration's actions had been given a wide circulation throughout the country, in the newspapers and otherwise, by those writers and speakers who consciously or unconsciously act as the representatives of predatory wealth-wealth accumulated 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. "Certain wealthy men of this stamp, whose conduct is abhorrent to every man of ordinarily decent conscience, and who commit the hideous wrong of teaching our young men that phenomenal business |