Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1908-08-05
ROOSEVELT PLANS
ARE TO PREVAIL
so DECLARES JUDGE TAFT IN Ac.
CEPTlNG THE REPUBLICAN
NOMINATION.
FAVORS PHYSICAL VALUATION
or RAILWAYS TO DETERMINE
MEASURE OF PROFITS.
STANDS FOR PROTECTION BUT
WOULD MODIFY THE TARIFF
TO MEET CONDITIONS.

Cincinnati, Ohio July 29-Judge w.
H. TAFT, upon being notified OF his
nomination for the presidency by the
committee Of the national convention
responded with his speech of accept
ance. MIR. Taft declared that the
chief concern of the next administra-
ton should be to maintain the policies
Of President Roosevelt and the stand
ards set by him and not to interfere
with business. 1T is agreeable to
note in this regard" said he that the
republican platform expressly and the
democratic platform implicitly, ap-
prove an amendment to the interstate
- commerce law, by which interstate
railroads may make useful traffic
agreements if approved by the commits
sion. This has been strongly recon-
mended by President Roosevelt and
will make for the benefit of the bust,
ness.
Physical Valuation of Railways.
1T is clear that the sum of all rates
or receipts, less proper expenses,
0uOulU US l1IlllSu W d lct44 OAI UPON
the reasonable value of its property.
and that if the sum exceeds this meas
ure. it ought to be reduced. The diff
Guilty in enforcing the principle is in
asecrtaining what is the reasonable
value of the cOmpany's property, and
in fixing what is a fair profit. 1t is
clear that the physical value of a
railroad and its plant is an element tO
be given weight in determining 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 a go
ing concern. including it's good WILL
due to efficiency of service and many
other circumstances, may be much
greater than the value of its tangible
property, ana it is the former that
measures the investment on which a
fairDIrofit must be allowed. Then, too
the question what is a fair profit is
one involving not only the rate OF in
terest usually earned on normally safe
investments, but also a sufficient al
Iowance to make Up for the kisk OF
loss 10th of capital and interest iI
the original outlay. These considera
lions will have justified the company
in imposing charges high enough tc
secure a fair income on the enterprise
as a whole
Enforce Registry of Corporations
Another suggestion in respect tC
subordinate and ancillary machinery
necessary to carry out republican poll
cies said Judge Taft, is that of the
incorporation under national law OF
the licensing by national license or
enforced registry OF companies en-
gagged in interstate trade. The fact
is that nearly all corporations doins
a commercial business are engaged Al
interstate commerce, and If they al
were required to take out a federal
license or a federal charter, the bur
den upon he interstate business OF
the county would become 1ntolerable
Republican Doctrine of Protection.
The republican doctrine of protec
ton. as definitely announced by the
republican convention Of this year
and by previous conventions, said the
sneaker. is that a tariff shall be i'm
pose on all imported products, whether
of the factory, farm or mine, suhcl
emily great to equal the difference be-
tween the cost of production abroad
and at home, and that this difference
should of course, include the differ
ence between higher wages paid IN
this country and the wages PAID
abroad and embrace reasonable pro
fit to the American producer. A sys-
tenn of protection thus adopted and
N$i in force has led to the establish
ment of a rate of wages here that has
greatly enhanced the standard OF ilV-
ing of the laboring man. 1t is the
policy of the republican party perman-
emily TO continue that standard of liv-
ing In 1897 the Dingley tariff hi
was passed. under which we have
had. as already said, period of enor-
nous prosperity" Then Judge Taft
added
The consequent material develop
ment has greatly changed the condl-
tons under which many articles de-
scribed by the schedules of the tariff
are now produced The tariff IN
number of the schedules exceeds the
difference between the cost of produo
ton of such articles abroad and at
home. including a reasonable profit TO
the American producer. The excess
over that difference serves no useful
purpose, but offers a temptation 10
those who would monopolize the pro-
duction and the sale of such articles
in this country, to profit by the exces-
sive rate. On the other hand there are
some few other schedules in which
the tariff is not sufficiently high to