Evening star., 1907-08-20
SECRETARY TAFT.

len fortunes and for an income tax; q
plea for the revision Of the tariff after the
next presidential election, and closing with
the heartiest Endorsement of President
Roosevelt's administration.
Throughout the speech there was con-
sistent effort on the part of Secretary Taft
to make 1t plain that he is intent upon TAX
ing up the Presidents policies, If given
opportunity, and carrying them on. He de-
Tended the President against the charge
that Roosevelt is more radical than Bryan,
and declared that the distress in Wall
street cannot be laid at the Presidents
door.
Secretary Taft refrained from discussing
the Brownsville affair on the plea that the
investigation is still in progress. He also
excused his lack OF reference to Porto
Rico. Cuba. Philippines, Santo Domingo
and the army and navy.
After defending the rate bill against at
tacks that have been made upon it, Secre-
tary Taft recommended additional legisla-
tion. These included the proposed clasSiff-
cation of merchandise. the prevention of
overcapitalization, prohibition of the pur-
chase by railroads of the stock of compet-
ing lines. He favored pooling by railroads.
under strict regulation of the interstate
commerce commission.
Opposed Government Ownership.
lie opposed government ownership of
railroads
First, because existing government rail-
ways are not managed with either the ef
fciency or economy of privately managed
roads and the rates charged not as low
and therefore not as beneficial to the pub
lie:
Second because it would involve an en-
penditure of certainly twelve billions of
dollars to acquire the interstate railways
and the creation of an enormous national
debt.
Third, because IT would place in the
hands of reckless executive a power Of
control over business and politics that the
Imagination can hardly conceive, and
would expose our popular institutions to
danger.
Subject of Trusts
Discussing the subject of trusts. Secre-
tary Taft drew a distinction between be-
nelcent combinations of capital and indus
try and those organized merely for monop-
oly-the difference between the good trusts
and the bad trusts.
The combination of capital in large plants
to manufacture goods with the greatest
economy is just as necessary as the assem-
bling of the parts OF a machine to the
economical and more rapid manufacture of
what in old times was made by hand The
government should not interfere with the
one any more than the other In the prom
er operation of competition the public will
soon share with the manufacturer the ad-
vantage in lowered prices. When. how
ever, such combinations not only lower the
cost to themselves, but are able to control
the market and maintain or raise the old
prices the public derives no benefit and is
helpless In the hands of a monopoly
Mr. Bryan asks me what l would do with
the trusts. / answer that | would restrain
unlawful trusts with all the efficiency of in
junctiVe process and would punish with all
the severity Of criminal prosecution every
attempt the part of the aggregated cap
ital through the Illegal means i have de-
scribed TO suppress competition.
"Extirpation Root and Branch"
'Mr Bryan says: He would extirpate
language is more than mere rhetoric and he
means to seize the property to divide 1t ul
and sell II In pieces. and disassemble the
parts then j am not in favor of his method
of dealing with trusts, because believe thai
such large combinations leeitimately con.
Quoted greatly add to the prosperity of the
country The attitude of the government
tdward combinations of capital for the re-
duction in the cost of production should bt
exactly the same toward the combina
tions of labor for the purpose of betterns
the conditions of the wage worker and OF
increasing his share of the joint profit OF
capital and labor. They are both to be Ell.
coura ged in every way as long as they con
duct themselves within the law. They boil
WELD enormous power and IL welded fol
good can be OF inestimable benefit Their
power for evil when in the control of un
scrupulous men is such that If 1t is TO be-
restrained II needs the use OF all the means
which the executive and the courts car
lawfully command. / think Ii entirely pos
sible by the rigorous prosecutions of the law
against Illegal combination and by thl
equal and Just operation or railways To
prevent a recurrence of what we have haC
in the past and to restrain within the