Devils Lake inter-ocean and Devils Lake free press. (Devils Lake, Ramsey County, N.D.) 1905-1909, 1908-07-31
TAFT OUTLINES
PARTY POLICIES
Acceptance Speech Keynote Of
Campaign.
HIGH PRAISE FOR ROOSEVELT.

Republican Candidate Rebukes opoo-
sstion's Stand On Philippine Gnde-
peadeaee-Prornises Steps Toward
Tariff Reform lrn,ediately After In
agsurstion IL Eleeted--seiieses In
Eneasse Tax BY Statutory Law If
Necessary For Revenues Rather
Than by Amendment TO the cersti-
tutiom-Rishts Of soth orsanized
and unorsanized Labor Shouts Be
tmpartiaiIy Upheld.
TIE Committee: am deeply sensible
ee the honor which the Republican Ma
etoza Convention has conferred On me
IN the nomIna ton which you formally
tender l accept tt with full app7ecia-
eon Of the responsibility it 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
GaeSE and true prosperity. and that
We are determined, as CUR platform uu-
oqatvocalfy declares, 70 maintain them
and carry them on For more than ten
PEARS this country passed through an
epoch Of material development far be-
you'd any that ever occurred In the
world before In its course. certain
evils crept In Some prominent and In
auenttaa members Of the community,
spurred by financial success and In
coer hurry for greater wealth became
snmfndful Of the COMMON rules of
business honesty and fidelity and OF
NE limitations imposed by law upon
Their action This became known The
revelations Of the breaches Of trust.
the disclosures O. to rebates and dis.
examinations by railways, the accumu-
hafng evidence Of the violation Of the
antitrust law by a number Of corposa-
0ans. the overtssue Of stocks and bonds
On Interstate railways for the unlawful
snFfehing Of directors and for the pur-
pose OF concentrating control Of rail-
ways tn one management, all quick
eaed the conscience Of the people, and
brought ON a moral awakening among
them that boded well for the future of
the country.
What Roosevelt Has Done.
The man who formulated the express
Sson Of the popular conscience and who
led the movement for practical reform.
WAS Theodore Roosevelt he laid
doctrine that the rich viola tor
e should be as amenable to
r:,4-t and punishment as the Of
fen.er without wealth and without in
nuence, and he proceeded by recon-
mendfng legislation and directing ex-
ecudve action to make that principle
good In actual performance
President Roosev elt directed suits tn
be brought and prosecutions to be in
edtuted under the antitrust law, to en-
force its provisions against the most
powerful of the Industrial corporations.
He pressed to passage the pure food
law and the meat inspection law in the
interest of the health of the public,
clean business methods and great uit-
mate benefit to the trades themselves.
He recommended the passage Of a>law.
which the Republican convention has
since specifically approved. restricting
the future issue of stocks and bonds By
interstate railways to such as may be
authorized by Federal authority.
Chief Function Of Next Administration
The chief function fof the next AID.
ministration In mig Judgment, is dis
ttnct from. and a progressive develop
mentofs tha. whicB1,as been performed
by President Roosevelt. The chief
function Of the next Administra ton Is
to complete and perfect the machinery
By which these standards may be main
tanned, by which the lawbreakers may
be promptly restrained and punished.
accuracy and dispatch to interfere with
legitimate business as little as possible.
Such machinery is not now adequate
Physical Valuation of Railways.
Some Of the suggestions Of the Demo
cratic platform relate really to this
subordinate and ancillary machinery
TO which have referred Take for In
stance the so-called physical valuation
Of railways" 1t Is clear that the suH
OF all rates or receipts Of q railway,
less proper expenses, should be limited
to fair profit upon the reasonable
value of its property, and that If the
sum exceeds this measure, it ought to
be reduced The difficulty In enforcing
the principle Is in ascertaining what Is
the reasonable value Of the company's
property, and In fixing what is fair
profit It Is clear that the physical
value Of a railroad and it's plant is an
element to be given weight In deter
mining its full value: but as President
Roosevelt in his Indianapolis speech
and the Supreme Court have in effect
pointed out. the value of the railroad
as going concern, including its good
WIFI, due to efficiency of service and
many other circumstances. may be
much greater than the value Of It's tan.
g1ble property, and it is the former that
measures the investment On which a.
fair profit must be q Eowed. Then, TOO,
the question what is fair profit is one