Jasper County Democrat, Volume 12, Number 60, Rensselaer, Jasper County, 10 November 1909 — TAFT’S IDEA OF HOW PANIC CAME IN 1907 [ARTICLE]

TAFT’S IDEA OF HOW PANIC CAME IN 1907

Roosevelt Saw Money Was Being Amassed In Illegal Ways. Florence, S. C., Nov. 9—ln a speech here President Taft referred to thj 1907 panic in these words: “We are apt to get enthusiastic over 15 cent cotton and our material prosperity. We have been prosperous before. We were exceedingly prosperous in 1907. ‘We were Very prosperous for six or eight years before that but there came a time when Theodore Roosevelt and men like him saw the tendency which came from that prosperity toward an accumulation of wealth in Individual hands by means that were not legal and could not be morally supported. “They called for a halt and called for an investigation into our prosperity and for the enactment of legis lation that should restrict our growth in order that it might be along lines of legality and business integrity and morality.”