THE Wairarapa Age MORNING DAILY. MONDAY, APRIL 29, 1912. A FALSE ISSUE.

Wairarapa Age, Volume XXXII, Issue 10621, 29 April 1912, Page 4

THE Wairarapa Age MORNING DAILY. MONDAY, APRIL 29, 1912. A FALSE ISSUE.

In the course of a speech delivered at New York a few weeks ag'o, President Taft gave an admirable exposition of the basic fallacy of socialism. He remarked that it had been gaid, and was a common platform expression, that it was well ito .prefer the man above the dollar, as if the preservation of property rights Ihmd some other purpose than tilie assistance to and the uplifting of human rights. Private property w»iis mot- established in order to gratify the loro of tome material wealth or capital. It was established as an inst.rum e nr a 11 tv in -tho progress taf civilisation, and the uplifting of man , and it was equality of opportun- j ity ifehat priraite property promised' by' assuring .to man the results of his own labour, thrift, and self-restraint. When, . /therefore, . the demagogue mounted the platform and announced cnatTilie preferred (the man above the dollar, lie ought to be interrogated as to what he nneaiiA thereby— whether lie, is in favour of abolishing the right of the institution. of private property and of .taking away from the poor man tho opportunity to become wealthy by the use of the abilities t'luit God ■has given' him, the cultivation of the virtues witJi which practice of selfrestraint amd -the exe>rcise of moral courage will fortify him. President liitt went on to eav Mat h© }yas■ .fair from asserting that the development of business, t-Tio discovery of new and effective (methods of using capital, had not produced problem*; wliieh called for additional action by the Government to prevent tho abuses of the concentration of wealth and tho combination of capital. Moreover, in order to attempt .in vest-men,t .Aniarica. had doubtless in times [past permitted the State to plecigo individual privileges more permanent .and ;af wider scope than tho public interest demanded, ami jtlic-y had permitted the establish-

mon.t ccf corporations and the aequisiion of power through the corrupting use iof imonoy i.n pontics, so as at (timer, to give to a few dangerous control in. legislation and government. But (during the uisfc ton years much progress against such abuses 'had been made in this- regard.