The Greenville journal. [volume] (Greenville, Ohio) 1850-1918, 1907-08-22

nit an income tax or by a graduated
inheritance taxsbut whenever the gov
ernment revenues need an increase or
readjustmept, should strongly favor
the imposition Of a graduated Inherit
ance tax and, IL necessary for the rev.
enues, a change in the constitution au-
thorizing federal income tax, with all
| the incidental influence of both meas
ures to lessen the motive for accumu-
lation.
THE suppression of monopolies and
the abolition of secret rebates and dis
eliminating privileges by the railroads
will lessen the possibility of such
enormous accumulations as those
which have already taken place. The
evils of too great concentration OF
money or of any kind of property in a
| few hands are to be best remedied by
the gradual effect of long course of
| legislation and not by measures having
an immediate and radical effect that
are apt to involve injurious conse-
quences to the general business COM
munity."
Secretary Taft declared distinctly
his adherence to the distinctive poll
cies of the Roosevelt administration
when he said:
Il have thus reviewed at great
length what have properly come to be
known as President Roosevelt's poll
cies and have discussed them with
what hope you will think is entire
Candor have attempted to point out
one or two instances in which would
qualify details of future policies which
he has sketched, but with these minor
exceptions as to method, | am glad to
express my complete, thorough and
sincere sympathy with, and admira-
ton for, the great conserving and
conservative movement which he has
with wonderful success initiated and
carried so far against bitter opposi-
tion, to remedy the evils of our pros
rerity and preserve to us the institu-
ttions we have inherited from our
fathers"
The criticism that the Roosevelt pol
icies are Socialistic is absurd, said
Secretary Taft. On the contrary, the
rolicies were framed to defeat Social
ism. Mr.. Taft also pointed out that the
railroads-not President Roosevelt
were responsible for restrictive legisla-
ton, and that the slump in Wall street
prices was in no wise due to the Presi-
dents policy. He contrasted Mr.
Roosevelts and Mr.. Bryan's theory of
government showing that Roosevelt
believes in both people and individuals
and in strong and efficient govern
ment, while Bryan's theories are based
on distrust of the individual and fail
ure of representative government.
Secretary Taft declared that Bryan
seeks judicial procedure, that will re-
strain wealthy wrongdoers, but will
give freedom Of action for lawless
poor, and in support of this he in
stanced the Oklahoma constitution,
which has been so warmly indorsed
by Bryan.
Certainly 1t is difficult" said Secre-
tary Taft, for an impartial observer
to find anything in the actual govern
ment of Mr.. Roosevelt that harmonizes
with what would be the government
under Mr.. Bryan If he could carry out |
his theories"
Great interest attached to Secretary |
Taft's discussion of the tariff. On this |
subject the full text of his speech was |
as follows:
The Protective Tariff.
Il come now to the question of the |
tariff, it's revision, and its relation to |
the unlawful trusts. The Dingley tariff |
was adopted Immediately after the |
election of Mr. Mckinley Since that |
time we have passed through the |
Spanish war and have had decade Of |
prosperity and an increase an expan-
sion of trade unexampled in the his
tory of this or any other country. The
Republican principle of the protective
tariff is, as | understand it, that
through the customs revenue law Q
tariff should be collected on all import
ed products that compete with Ameri- J
can products, which will at least equal
a difference In the cost Of production
in this country and abroad, and that
proper allowance should be made in
this difference for the reasonable
profits to the American manufacturer.
The claim of protectionists, and 1t has
been abundantly justified in the past,
Is that protection secures high rate
Of wages and that the encouragement
1t gives to the home industry operating
under the influence of an energetic
between American manu-.
facturerS, induces such improvement
In the methods Of manufacture and
such economics as to reduce greatly
the price for the benefit of the Ameri.
can public and makes 1t possible to re-
duce the tariff without depriving the
of needed protection and
3 good profit.
Free Trade Revision Disastrous.
"The present business system of the.
rests on the protective tariE
and any attempt to change 1t to 9
'ree trade basis will certainly lead
)nly to disaster,
ut is the duty Of the Republican
party, however, to see to 1t that the
,ariff on imported articles does not
exceed substantially the reasonably
differential between the
cost of production In the foreign couR.
ries and that in the United States,
Ind therefore when changes take
olace in the conditions Of production
likely to produce a very large reduO-
ion in the cost of production in the
United States, it is time that sohed.
lies be Fe-examined and If excessive
hat they be reduced SO as to bring