The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-07-28
". H TAFT'S
ACCEPTANCE
SPEECH
tQbnIInlet Irom pasg %


and issues that are brought before g
for decision II ought 20 be relieved
of its Jurisdictions as an executive. d.
recting body, and its functions should
be limited to the qnasiiudiclal inyes
tigatloH of complaints by individuals
and by " department of the govern
ment charged with the executive busi
ness OF supervising the operation oi
railways.
There should be a classification OF
that very small percentage OF indus
trial corporations having power and op
portunity to effect illegal restraints oi
trade and monopoies. and legislation
either inducing or cOmprL lH them 60
subject themselves 70 )e stry and 20
proper publicity regulet Z Is and super
vision Of the departme of commerce
and labor
Plays Both Enas Ffem the Middle.
The field covered by the ihdustria
combinations and by the railroads IS
so very extensive that the interests 81
the public and the interests Of the bus
..inesses concerned cannot be properly
u klHarved esxcepts BY reorganization OF
bureaus IN the department OF com
alerpe and labor, of agriculture, ano
"a Ne idparmeid-6f Justice. and a'cltangC
h the Jurisdiction Of the inter 20
commerce commission, Il does n { as
sist matters to prescribe new dutie
for the interstate commerce commits
sion which &c is practically Impossible
for it to perform, or 10 denounCe new
offenses with drastic punishment, ur
less subordinate and anoillary legisla
tion shall be passed making possible
the quick enforcement In the great va
riety of cases which are CONSTANT.
arising. Of the principles laid down By
Mr. Roosevelt, and with respect C.
which only typical instanccs Of pras
ecutlon with the presen< .~machiners
are possible. Such legislation shoult
and would greatly promote legit
mate business by enabling those an
xious TO obey the federal statute
to know just what are the bOund
of their lawful action The rractica
constructive and difficult work there
fore OF those who follow Mr. lt0osC
yen Is to devise The ways and mean
by which the high level OF busines
integrity and obedience th la~ Wbitl
De has established may be maintain
ed and departures from it restraine
without undue interference with legit
innate business.
Physical Valuation Of Eaiifoadss
Declaring his approval of the plat
form ptdnk WhlCn IeCttUes iof az.
amendment to the interstate com
meree law by which Interstate rail
roads may make useful traffic agree
ments, II approved by the commits
sion, Mr.. TAFT iRE scusaing tue phys
cial valuation OF railroads said
Some OF Tile suggestions Of the dem
ocrauc platform relate really 20 this
subordinate and ancllary machinery
10 which ! have referred Take for in
stance the so-called physical Yalua
sion of railways" II is clear that tae
sum OF all rates or receipts Of rail
way, less proper expenses. should hg
limited to a fair proil, Won the rea
sonable value Of ns property. am
THAT If the sum eXceeds Ais measure
a. ought to be reduced. The difficulty
in enforcing the principle IS i'm ascer
tainine wnat SIS the reasonable valr
OF the company,s properly, ana in iiN
ing what IS a fair profit Il Is olea
Sha the physical value Of railroa'
ami rs plant Is an element to be giyel
weight in determining full value
hut as President Roosevelt in his IN