The Monte Vista journal. (Monte Vista, Rio Grande County, Colo.) 1888-1921, 1908-08-01
TAFT ACCEPTS nomination
DECLARES HIS POLICIES
Makes His Notification Speech a
Cincinnati, While City Is in Gala
Attire to Receive Him as a Con-
quering Hero---7ext of
, His Speech.

promote legitimate business by enabling
those ANXIOUS TO obey the federal stat
utes 10 know Just what the bonds
OF their lawful action. The practical con-
structve and difficult work therefore of
those who follow Mr.. Roosevelt. is to &C.
wise Inc ways and means by which the
nigh level OF business integrity and ODE
dIehce to law which he has established
may be maintained and departures from
II Testralled without undue Interference
with legitimate business
Railway Traffic Agreements.
II Is agreeable TO note IN thi. regard
Ihat me Republican platform expressly
anu ,he Democrats platform impliedly
approve an amendment to the interstat.
commerce law, by which Interstate rail-
roads may make useful traffic agree
r msia II approved by the commissions
rms mas been strongly recommended bv
president Roosevelt, and will make for
the heneht OF the business
rro some on the suggestions OF the Demo
sIoordinate and ancillary machinery to
which have referred. Take for in
S 81 no;,, the s2.cal!ed physical valuation
an rates or receipts of railway. less
proper expenses, should he limited to n
Ia iair proht upon the reasonable value OF
~ property. and thar II the sum exceeds
Ills .s measure, II ought TO be reduced The
oiHcuIty in enforcing the principle is in
az ,h. what Is the reasona6l value
OIL In" eompany's property and in fixing
, mmat rs iair PROFIT 1t is clear that the
physical value OF II railroad and its miami
termin Hiar'"T ~. Z" be given weight in de
Dent Roosevelt In his indianapolis
speech and the supreme court have point
in, OUT oa,, inc value Of the railroad as a go
ing concern, Including its good will due
10 efficiency NJ service. and many other
,hnn ~ " may be much greater
and !, ''' Is t ,an Of Its TANGIBLE property
investment on which a fair profit must
he, DC allowed. Then. too, The aues,
i""alvns '1 no, only i fS,r PROM, Is one
usually earned on normally safe invest
niehts' but also sufficient allowance. TO
make " for tn. risk Of hiss both Of cap
iial and interest in the original outlay
these considers tons WILL have justii,ctl
. enc srnm ,n ., m 'mp:s,ng charges high
$500 70 secure n falr Income on the
enterprise as u whole.
What Roosevelt Said.
! AS Mr.. Roosevelt ha. said in sneak
Ing OF this very subject:
me eject OF such valuation and SUI
- VISION Of securities cannot be retro
actiN"- Existing securities should b..
t.sted by laws in existence az The time
OF ,hrir issue. This nation would no
NOR. inlurc securities which have be-
com. an Important part Of IN. national
wealth. Than II would consider n promo
sitiom 10 rcpudia,e the rational debt.
men, n, GnIis,"n OF rates and trent
sides The shippers are certainly en-
III n.'"n =" reas.onbl. rates; but less is
sa.in"-s FOR N. ra an S.fr Is sssa Gai
!" general prosperity. Injustic. Ia
Them Is not alone inMs,ic" TO stock
h"ld.rs and capitalists. whose farther
investments may i-- necessary f,Ir In.
s"eh oil the Who'll. country, but 1t Iii
r,'us an,~fs and reauoc~ the wages
F.r what has br.a snt6 tn. proper
conc rnsi"n would seem - he uhat in
attempting a" determine. uhat sihoth.r
the -1tir. schedule of rates Of "A rail
| way ~ excessive, th-, physical vnlua-
ton 81 the rond - u relevant xnd i'm
por'nnt but not necessarily control
INK factor. Physlcfu valuation proper.
| ns'.i VIII hH EcScrnHy impair se-
National Control Of Corporations.
| An"'hcr surE"~ssn RI resV.ot ia
subordinate ana nncillary machinery
necessary ts cnrrs ON Republican poii-
"ics H. that 81 n. incorporation under
| ti"nnl license err enforced registry of
companies engaged In Interstate trade
The fact IL that ss,arl, all -norpUrut inns
| doing n commercial business NJ. en-
gagged In interstate. commerce.. and IL
they NIL were rcauirod to take out a
icd",nl Deems or federal charter.
ness Of tAc csuntry w<uid become IN
toi.rnbl..
1t Is s"c.~'nry. therefore. to de-
visc come means for classifying ana
inrurtoK federal supervision OF such
c"rpofatitn~ 49, hnN. abe power and
temptation To effect restraints If In
| corporations coostitsi" = very small
perr.ninx. of all engaged IN inter.
state busin-ss,
Roossvsits prspossd clsssisse s.Ioc.
with such Classification IN view Nr
Roosevelt recon IN. .ndof an nm.rd mes
In the anti trust law, known us ~,
Hepburn bill, which provided for vol
, uniary classification. aud created
strong motive Therefore by xrn.tIns
immunity from ptos"cuf Ions for r.,
sonnbi" restrictions oG hit.r.otni,
trad. 10 all corporations which w,ouia
publicity regulation OF the d"ps RI
m.nt OF coWm"fp" and la bor.
THE Democratic pL,tf"e surx..,.
requirement that .orpovafioss .uI
int.rrtat" trad" having control of %
per cent Of N" product. In which i..,
deal ,haii take Out ~ f"dcrpI ii..nso
Thiy classification would trohn bIy H.,
eiudo ~ great many small rornorn.
Hone engaged In Ia" manufacture of
special articles ar commodities who's.
they ar. not really within III, ,.,,
View or r.a, cyil OF tn" hntI-trust l., -.
II IL not NOW necessary. howaySr a.
dirruHs th. rolaiiy" merit Of such pron,
nrm the necessity for some motbod no
which greater executive" stp.rvi.Inn
en- n ~. given 10 the federal gov.rnman,
over theee bHsihoEneH IN which tL.ra IL
temptation to violations Of The ami.
trust law.
Construction Of Antitrust Law.
"The possible operation OF the anti
trust iaw under existing rulings OF IN,
supreme eourt has given rise to st,wsr..
ton for Its necessary amendment In
prevent Its applications To eases which
u II believed WERE never In the conta,n.
Take two Instances! A merchant or man.