many. The laws which have been enacted, if properly executed, are
sufficient in their force and effect to encourage the one and to punish
the other, but in our condemnation let us not forget that with the
expansion that has come to our country, an expansion of our business
relations is also necessary. This growth has brought us into intimate
contact with the markets of the world, and in the struggle that is
always before us, the competition of trade, if we are to hold our own
among the world's producers, we should encourage and not hinder those
who by their energy, their capital and their labor have banded together
for the purpose of meeting these new conditions--problems which our
individual efforts alone cannot solve, but which require the
concentrated force and genius of both capital and labor. Incentive for
good citizenship would indeed be lacking if there were taken from us the
opportunities for development, the opportunities for the young man to
follow in the footsteps of those who have written their names in the
history of our country as the great captains of industry. Success will
always follow perseverance and genius. Every heresy, every doctrine
which would teach the young man of this country differently, is an
insult to the intelligence of our people, and is in the direction of
building up a dangerous element in American society which in time would
threaten not only the peace and prosperity we enjoy, but our very
institutions themselves. When you have placed before the young man all
of his possibilities, you have made it impossible to make of our
Republic a plutocracy controlled by the few at the expense of the many.
The individual should count for as much as the aggregation of
individuals, because an injury to the one will lead to the destruction
of the many. The question of adjusting and harmonizing the relations of
capital and labor is the problem before us to-day and is one which will
become more urgent in the future. Its solution must be along those lines
of constitutional right which every citizen has been guaranteed. Every