Debs Attacks “the Monstrous System” of Capitalism"In 1912, four candidates battled to become President of the United States. Republican incumbent William Howard Taft and Democrat Woodrow Wilson, a moderate governor, represented the two major parties. Former President Theodore Roosevelt, angered over what he felt was a betrayal of his policies by Taft, his hand-picked successor, abandoned the Republican party and founded the Progressive or “Bull Moose” Party. While all four candidates appealed directly to working-class voters, whose votes would prove decisive, by far the most radical platform in the campaign was that of the Socialist Party nominee, Eugene V. Debs. Running for the fourth time, Debs called for the abolition of capitalism rather than for its reform. In this speech accepting the party’s nomination he proclaimed the Socialist Party “the party of progress, the party of the future.” Debs finished last in the contest, receiving 900,000 votes. " GMU History Matters