The Washington herald., 1909-03-05

In his inaugural address. President
Taft made II plain that legi1imately con-
Quoted business interests in the country
may feel assured Of proper consideration
at the hands OF the new administration
He also declared that he viii carry out
the reforms initiated by his predecessor.
After being sworn in by Chief Justice
Fuller. President Taft said:
The inaugural Address.
Nv Fellow Citizens. Any one who
takes the oath I have Just taken must
feel heavy weight of responsibility II
not. ne has no conception Of the powers
and duties Of the Office upon which he is
about 10 enter. or he is lacking in a
proper. sense OF the obligation which the
oath imposes
The Office Of an inaugural address is 70
give a summary outline of the main
policies o. the new administration. 50
far as they can be anticipated have
had the honor to be one Of the advisers
Of my distinguished predecessor and as
such TO hold uD his hands in the reforms
he has initiated. / should he untrue tc
myself. TO my promises. and to the dec
4 larations Of the party platform Upor
which ] was elected TO Office if I did not
make the maintenance and enforcement
( Of these reforms a most important feat.
ure OF my administration. They were
directed 20 the suppression OF the law
( Iessness and abuses Of power Of the great
{ combinations Of capital invested in rail.
roads and in industrial enterprises car
F ried on IN State commerce. The steps
which nv predecessor took and the legis
IatfOn passed on his recommendation
( have accomplished much. have caused Z
general halt in the vicious policies which
created popular alarm. and have brought
about in the business affected a mucl
/ higher regard for existing law.
: To render the reforms lasting. however
and TO secure AT the same time freedom
from alarm on the part of those pur
suing proper and progressive bushes.
( methods further legislative and eXecu
tive action are needed Relief of the
! railroads from certain restrictions OF the
\ antitrust law has been urged by my
! predecessor and win be urged by me
T On the other hand. the administration ],
4 pledged 10 legislation looking to propei
! Federal supervision and restriction {,
! prevent excessive issues OF bonds anC
stocks by companies owning and oper
ating interstate commerce railroads.
! Then. tCo. a reorganization Of the De
/ partment Of Justice. Of the Bureau o
/ Corporations in the Department of Com
/ merce and Labor. and Of the Interstatt
/ Commerce Commission. looking to effec
Z tive cooperation OF these agencies. 4
4 needed TO secure a more rapid and ceTtsii
enforcement OF the laws affecting inter
state railroads and Industrial comhina
tions.
/ ! hope tc be able 20 submit at the frs
Z regular session Of the incoming Congress
in December next definite suggestions ii
respect TO the needed amendments 4
the antitrust and the interstate com
merce law and the changes required j
the executive departments concerned Il
their enforcement
It is believed that with the changes Z
4 be recommended American business ca
I be assured of that measure Of stabilt
and certainty in respect 70 those thing
that may be done and those that ar
prohibited which is essential TO the 1T
and growth cf all business. Such 2 pla,
must include the right OF the people [
avail themselves Of those methods q
combining capital and effort deeme
+ necessary to reach the highest degree O
u economic efficiency. at the same time dif
ferentiating between combinations base
upon legitimate economic reasons an