Democratic Policy Prevents Restoration Of Prosperity

Performed by William H. Taft
August 5, 1908

Unlawful trust should be restrained with all the efficiency of injunctive process, and the persons engaged in maintaining them should be punished with all of the severity of criminal prosecution in order that the method pursued in the operation of their business shall be brought within the law. To destroy them, and to eliminate the wealth they represent from the producing capital of the country, would entail enormous loss and would throw out of employment myriads of working men and working women. Such a result is wholly unnecessary to the accomplishment of the needed reform and will inflict upon the innocent far greater punishment than upon the guilty. The Democratic platform does not propose to destroy the plants of the trust physically, but it proposes to do the same thing in a different way. The business of this country is largely dependent on a protective system of tariffs. The business done by many of the so-called trusts is protected with the other businesses of the country. The Democratic platform proposes to take off the tariff in all articles coming into competition with those produced for the so-called trusts and to put them on the free list. If such a course would be utterly destructive of their business, as is intended, it would not only destroy the trusts but all of their smaller competitors. The ruthless and impracticable character of the proposition grows plainer as its effect upon the whole community is realized. To take the course suggested for the Democratic platform in these matters is to involve the entire community, innocent as it is, in the punishment of the guilty. While our policy is to stamp out the specific evil. This difference between the policies of the two great parties is of a special importance in view of the present condition of business. Gradually, business is acquiring a healthier tone, gradually all wealth which was hoarded is coming out to be used, confidence in security of business investment is a plant of slow growth and is absolutely necessary in order that our factories may all open again; in order that our unemployed may become employed; and in order that we may again have the prosperity which blessed us for ten years. The identity of the interests of the capitalists, the farmer, the businessman and the wage earner in the security and profit of investment cannot be too greatly emphasized. I submit to those most interested, the wage earners, the farmers, and the businessmen, whether the introduction into power of the Democratic party with Mr. Bryan, at its head, and with the business destruction that he’s openly advocated as a remedy for our present evil, will bring about the needed confidence for the restoration of prosperity.