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 hes openly advocated as a remedy
for our present evil, will bring about the needed
confidence for the restoration of prosperity.