The Honesdale citizen. [volume] (Honesdale, Pa.) 1873-1908, 1908-08-06
TAFT OUTLINES
PARTY POLICIES
MIGH PRAISE FOR ROOSEVELT.


Tariff Reform lrnmsdistsly Afts~ In
aupurstion " Eleotsd-nsiIovss In
Income Tax BY Statutory Law n
Necessary For Revsnuss Rsthsr
Than by Amendment 20 the consti
tutIon-Rishts Of Both Organized
and unorpaniked Labor Should Be
impartislly Upheld.
Senator Warner and Gentlemen cf
the Committee: ! am deeply sensible
OF the honor which the Republican Ma
tional Convention has conferred on me
In the nomination which you formally
tender. I accept 1t with full apprecla.
ton Of the responsibility II imposes.
Gentlemen, the strength Of the Re.
publican cause IN the campaign at
hand Is In the fact that we represent
the policies essential to the reform Of
known abuses, TO the continuance OF
liberty and true prosperity. and that
we are determined. as our platform un-
equivocally declares, to maintain them
and carry them on. For more than ten
years this country passed through an
epoch Of material development far be-
sVnu any unat ever occurred III tne
world before. In Its course, certain
evils crept In. Some prominent and In
"ue"t'.1 hneinoers vi tne coniuunny'
uu nnaneia "ucce.s ana IN
? ioi sieo'ei wealth. pecaine
.A. )" lne common rufes VI
,,, ny anu nueH ano Vi
~, inPosou y 70" upon
n,.., ~ n,e ooauie AnoHh ~ ne
49,. s.-N,. Wv VI uusl'
s-,...s..,S a., "e " W., "nu ui'
80. n-.,s :. -. nc a'ceIu,
.,,ts -. -, -. t..',' - - ~
a.. s,,a o,.or,a.," - -.a,,,. VI ~ ,- 80
-, ,.,..-,s.s.., -. so. a. ~ u,ls.,
an,sc,,srr - 1,s,",r., ~. se. .,'a .,. ~
,,ose oe oonoantrat,n. oo,.na, % ~,
s,,aa .ho ,onsota,,,. =, .,, ,I.,,,o 49,.
1,,.ons,,, o,, ,,,o,.aI ,,,,oi,o,,,,,s. -
tbern +hot hoAad nj, o. H. 90 -
tha copD4rv
""~ nooaeVen mas Do"s'
Inc man who formulated the express
80 - .,,a ,na,",p. ~ ppu ,u. .os.Iete "n., anu "no
waa Theodore Rooaev.I+ tIa Io,d
down the doctrine that the rich violation
Of the law should be MS omenaILs tn
restraint and punishment ns the OF.
fender without wealth ana witho,t in.
fiuence and be proceedad by racom-
mendinR legislation md dIrectinp OK.
ecuttve action To mako that nr,nc,nia
zoo6 In actuaI nerfornonca
President Roosevelt dire,ted sutts In
he brougbt ond prosecutions +o no I'm.
stituted under the antitrust law 70 on.
force its provisions against the most
powerful OF the Industrial eorporo tiops
He pressed to passage the pure food
-" ane une ineat inbpection Ia" In the
l.aerest on me heaiss OF the puphc'
caeoh BUSINESS methooS Sho great ufu-
Hnate Denent 10 the traces themselves.
kAs recoanlnenoeu tne passaee Oh INV
~hhch the hepuphcan convention ms
nince specincany aip''oNeo' restrlclinS
tne huture issue OF SHOCKS ana pohos py
AnterState railways 10 sncn as may DO
Sur1ofi1eo Dy Feoeral auuhority'
chisf Function Of Nss,t Aaminiutration
rba ohio, f,no+,or n, +ho mart Ad-
.,,tuis+,at,on 4, nv iudgma,t 4. A,.-
anc+ erop and n nrocraas,yo dayaion.
mani or that which has haap narforned
nv pro..,do,t poosoyalt Tha ,h,a,
erns+io, op ~. next Adm,r,stra.,o, 4.
A., oo,,,,,,,, ,,nd ,,ar,ac, tho ,nochtrorv
h,, ,,Jhich t,,as, naords NAV ha main.
totnna t,,. ,,.h,,,, an, Ia,,,,,.a.', .-,, ,no,
-, ,,r,,,,,,i,, ,os,,.uInad ooa n,nts,,od
-. 49,, .,..,,, ,,,,,,.,,., lei,
.r,o,,ro,. ma ,Iis,,,t,J, e., ,n,a,.fore, ,,.,,h
i,,.,.t,,,. ,.,,.,I,,',,, a., ,,.., ,,o.,,,I,,
g., ,,,a,,,,i,,..,.,, q, No.. 80, oaa,,o.o
Fhysieal saiuat'on OF ha""ays'
Some Of the suggestions Of the Demo
cratic platform relate really so this
subordinate aud ancillary machinery
to which | have referred. Take for in
stance the so-called physical valuation
OF railways" II IL clear that the sum
OF all rates or receipts Of u railway.
less proper expenses, should be limited
to a fair profit upon the reasonable
value OF Its property. ana That Ii ths
sum exceeds THIS measure IL ousht 10
De reduced. Inc oimcuity Ill enforcing
the prlnclpie ls III hscerthluihs WHIT ls
me reasOhable Nhlue or the company
property. ana III hAlng "hat lS ialf
pront. II Is clear that the pDyslcal
Value OF rallroao ana lts plant Is an
eiemeht 10 lie given weight Ill deter
mining ts fuu value; but us President
Roosevelt In his Indianapolis speech
and the Supreme Court nave IN eject
pointed out. the value OF the railroad
as going concern lhcluoing It's good
Will. due TO efficiency or service ana
many other circumstances, may he
meeh greater thah me value of lis tan
gtDle property ahd II Is the Former that
measures the INVESTMENT OH whlch
xah pront must he allowed. Then, TOO
tiAS question WHAT IL Ialr proht ls one
mVoivlhs NOT only the rate OF interest
oSualiy earheu Oh normally saie invest
menis. Dut also suthclent allowance
70 make up Tor the RISK OF loss Dom
Vi eApital ana interest III 'he Original
ouuay' Ihese considerations VIII nave
Justified the company IN imposing
charges high enough TO secure fair
income on the enterprise as u whole.
The securities ut market prices Will
have passed into the hands OF subse-
quent purchasers from the original IN
vestors. Such circumstances should
properly affect the decision Of the tri-
bunal engaged In determining whether
the totality of rates charged is reason.