New-York tribune., 1908-12-17
REVISE THE TARIFF,
SAYS JUDGE TAFT
REASONABLE PROFIT ON
INFESTED CAPITAL.
For Modification OF Sherman LG10
in Regard to Railroads. He Tells
OhiOaHs at Dinner.

/ IN force 70 the tvvenrv-third annual dinner oc
the Ohio Society al the Waldorf-Astorla las-
night 70 pay honor 70 rhei- cou1parrlot' VIII
! lam Howard Taft P-eztdeut-eIecr- Il vas
I really almost a Taft family affai-. siEce Henry
( W happens TO be president Of The society. and
/ Charles P sat beside The New York state *
ecutive
/ While the Ohioans were feeling proud and
I happy 70 have their Distinguished fellow c-ll-
+ zen with them, they we're not too 1ond OF -n7l-
+ native state 10 forget interest n the STATE o.
/ their adoption: and VIXEN Henry ". Taft WIN
/ his proprietary interest n the next Presiden-.
/ declared that the country rad got the habit OF
\ picking its Presidents alternately from Onlo
I and New York and went 20 predict taking
I souarely 10 Governor Hughes and mentioning
/ him by name that the game OF Presloenlial
see-saw would continue FOR an incennite
period" the entire assemblage cheeTed anu
cheered again. This was repeated when ex-
+ Senator Spooner declared that the guests lad
/ had the splendid opportunity 20 hear the tWo
star orators OF the recent campaign judge
Taft and Governor Hughes.
In his sDeech Judge Taft declared strongly N
favor Of a revision Of the tar1f1. but on prlncl-
ples OF protection The platform designated
BY the national convention .s the declared pol
icy of the party he said There Is. therefore,.
Z q sacred duty on the President and the leaders
in the Senate and House 70 carry out the pol
icy thus declared
He declared that The revision OF the tar1H vas
the most important plank IN the RepUo--can
platform
5Ir Taft also referred again last night 70 the
Sherman antitrust law. and declared for its en-
forcemenr as one Of the Roosevelt policies that
the party had pledged itself 10 carry forward
MIR. TAFT-s SPEECH
The guests stood and cheeret for more than
a minute when 8Ir- Taft arose 10 speak He
said
went through peculiar experience ms ms
I evening but one 7 went through without the
. real suffering that I expecred-thar OF listening
to nv brother.
infer from what spoone- said that he IS
I generally taken 70 be a number Of years oLasr-
He isn't Hes two years younger To let nm
make a speech about his big brother Wculdn :
! have been permitted IN earlier days
II il were not a reference 10 a religious SUD
/ ject which after the election possibly may p
/ permitted, I should speak OF 2 rel-aIA oI NLs y
those days. My big brother BIZ says tnere an
/ going Be no hell
/ am going 10 talk little politics tonight I
want 10 speak Of the peeuliarTr1as as viewed oy
+ other governments that We have n carrying On
/ 0ur government or course. in running a popu-
7 lar government successfully 50 as 20 secure 4
! ma ioriry Of l5Oe0oe0 voters We must r-aFS
/ parties So they have IN England But t1ey
don't divide the responsibility Ine Prime MI
ister Is al the same time the executive the init
/ ator and The defender OF the legislation pro
/ posed II that respect II is good that ne has
/ the responsibility am not oI-er-hg OF l--A--e
/ 2 bOur 4 change in Constitution 4 90 hut
/ want TO be- construed that way an on5y ~
I Ing point out that Win Us Llle E-7s--7--- .
I generally looked 20 as the head or MS paEl5,
\ and he IS generally made responsible Ior WLlaL
I his party has done or has failed 70 30 let LA7
/ noZvar is vested in him. in the leaders in the
l senate and in the leaders in the House
] In rasDec- 10 those pIanks that were laid down
( ~ - Pe-,7rIire- platform in Chicago. there IS
the strongest obligation that the many neaos o-
the party should respond and see 10 II tnal Iney
| have not deceived the people
Now the most important plank and the one
which was fixed by date was the revision OF ne
/ tariff which TO be fixed az an extra SESSION
as early as possible after March Z The standard
nv which that revision was % De governed vas
that the tariff was 10 oe revised o. pIlL--.zs pL.
OF protection and these principles OF prOCe--IoA
we're defined as rates which are 70 De the meas
lre of the difference IN cost or pro1ucClon zee zee
and abroad. with a reasonable pronI- ana nat
take IT. means reasonable interest on capital.
with cost 7f raw material and labor Ihen ges
tho difference between such cost mere ana
abroad In this revision We are 20 make rhs
tariff that difference
r. means that the committee CTart1) shall
make actual effort themselves 70 TX Jnar c1--
II an a n-ote-rfonfst but I do no- think that
rr0ractfon makes the possibility FOR trusts and
/ Tu1uOpOfes easier than Il We dlcn nave protsc-
ton The way 20 stamp out r1onopolies ana
trusts IS not 70 stamp out the wnole protectiVe
s,s-ar1 Ru- what that platform means IS. not
10 fix that difference az excessive rate ard
so tempt monopoly 70 take advantage or sucn
rTere have been those who believed tnat II
didn't make any difference how hign tnls Taie
was but think that platform showed tnern LLler
errors Unless do revise IN aCcordance WIN
this promise II only make a surface reVlslon.
we shall b. made accountable 70 the lntelLlge1I
American people and shall suffer the fate thai
IS insured To those who deceive them
II Is therefore better 10 have no revision or
the tariff and have the bin fail. unless We u1azs
I il a real and honest revision
I want TO say a word about the Sherman anti
trust act We stated N our platform that W9
proposed 10 carry out the Roosevelt policy We
propose 70 do II, and large portion of ths
Roosevelt policy IS composed OF the Sneru1a1
antitrust act
we propose 10 carry out the law or sucn nod
ffCatiOns Of 10 VIII effect the purposes q
those who framed Il L should be amended. 2
possible to distinguish those combinations nOr
intended n be affected and those that We're In
tended 70 be affected II viii be the business Of
the administration 10 get such construction o.
I amendment ~ the law SO as % laT down a RUE
by which all business men may ne guided n
order that they may know where the line IS they
must not cross.
an not prepared TO say Just what amend
ruents should be- made a portion or the statuts
defines definitely what the railroads may or may
I not do This ought % be modified or repealed
The suggestion that -reasonahie should Be put
in rhp act think. speaking for myself, VIII rot
be found satisfactory The term reasonable
in common law with respect 20 the restraint OF
trade has a definite meaning in some cases
You viii put in the hands OF judges the legts-
Iatfv- function OF deciding what IS reaSonahie
ana what is not reasonable think that the line
that will be drawn VIII be- the intent Of the com
bfuarions in question. II they are made % re-
1ce the cost OF production they are legal but x
they are made o. Uonopolze trade 20 control
v-a~<ers or 20 stie com petition. they Illegal
live in the hope that the earnest EFFORTS q
/ the administration and Congress Whl work cut
/ good results and that shall make such prog
ress in the next four yea-s that 10 VIII be said
that We made honest and earnest EFFORT
The dinner was one OF the largest ard most
brilliant OF It's kind held in this city in recent
years Perhaps the great dinner 20 Prince Henry