The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1907-08-22


tude of the government toward combi
nations of capital ior Tie reduction in
the cost Of p.oducti should be ex-
actly the same as toward tb combi-
nations Of labor f1r III purpose Of bet
tering the con niitions Of the wage
worker and of increasing his share of
the joint profit Of capital and labor.
| They are both to be encouraged In
every way as long as they conduct
ther' solves within the law. They both
WELD enormous power and IL welded
for good, can be of inestimable bene-
ft.. Their power for evil when in the
control of INSCRIPTIONS men is such
| that II II is to be res rained, II needs
the use of all the means which the
executive and the courts can lawfully
comm md. I think It entirely possible
by the rigorous prosecutions of the law
against illegal combinations and by
the equal and just operation Of rail-
ways, to prevent a recurrence of what
we have had in the past and to re-
strain within the bonds of legitimate
and useful business, all these great
corporations"
Touching upon the evils Of swollen
fortunes, Secretary Taft said that the
captains OF legitimate industry are en-
titled to large rewards and It is impos-
sible to Ak a limit upon the amount
which they may accumulate. However,
he advocated legislation having ten
dency to divide great fortunes
and to discourage their accumula-
tion, and pointed out that perhaps the
best remedy is to be found in state
legislation. He said:
II do not favor federal legislation
now to reduce such fortunes either
by constitutional amendment to per-
NIT an income tax OF by a graduated
Inheritance tax, but whenever the gov.
ernment re-enues need an increase or
readjustment, should strongly favor
the imposition Of graduated inherit
ance tax and, II necessary for the rev.
enues, 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 nd 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
II 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 I 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-
tion 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
perity 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
policies were framed to defeat Social
ism. Mr. TAFT also pointed out that the
railroads-nct President Roosevelt
were responsible for restrictive legisla-
tion. and that the slump in Wall street
prices was n no wise due to the Presi-
dents policy. He contrasted Mr..
Roosevelt's and Mr.. Bryan's. theory Of
government. showing that Roosevelt
believes In both peo"ie 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 II 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 II he could carry out
his theories" ~ $500.
Great interest attached to Secretary
Taft's discussion of the tariff. On this
subject the full text of his speech was