Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1909-03-06

just taken must feel a heavy weight
Of responsibility. II not, he has no
conception of the powers and duties
Of the office upon which he is about to
enter, or he is lacking in a proper
sense of the obligation which the oath
imposes.
The Office of an inaugural address
is to give summary outline OF the
main policies of the new administra-
ton, so far as they can be anticipat-
ed. | have had the honor to be one OF
the advisers of my distinguished pre-
decessor, and as such, to hold up his
hands in the reforms he has initiated
l should be untrue to myself, to my
promises and to the declarations OF
the party platform upon which | was
elected to Office, If l did not make the
and enforcement CT
those reforms a most important fea-
ture of my administration. They were
to the suppression of the law
lessness and abuses of power OF the
great combinations of capital invested
in railroads and in industrial enter
prises carrying on interstate COM
merce. The steps which my predeces-
sor took and the legislation passed on
his recommendation have accomplish
ed much, have caused a general halt
In the vicious policies which created
popular alarm, and have brought
about in the business affected, much
higher regard for existing law.
To render the reforms lasting, how
ever, and to secure at the same time
freedom from alarm on the part OF
those pursuing proper and progressive
business methods, further legislation
and executive action are needed. Re-
lief of the railroads from certain re-
strictions of the antitrust law have
been urged by my predecessor and
will be urged by me. On the other
hand, the administration is pledged
to legislation looking to proper led
eral supervision and restriction to pre-
vent excessive issues of bonds and
stocks by companies owning and op-
Grating Interstate commerce railroads.
The Trusts and the Tariff.
Then, too, a reorganization OF the
of justice, of the bureau OF
in the department OF
commerce and labor, and Of the inter
state commerce commission, looking
to effective cooperation of these agen
cies, is needed to secure more rapid
and certain enforcement of the laws
interstate railroads and IN
dustrial combinations.
p | hope to be able to submit at the
first regular session Of the incoming
in December next, definite
in respect to the needed
to the antitrust and the
commerce law, and the
changes required in the executive de-
partments concerned in their enforce
ment.
1t is believed that with the changes
to be recommended. American bust
ness can be assured of that measure
of stability and certainty in respect
to those things that may be done and
those which are prohibited, which Is
essential to the life and growth of all
business. Such a plan must include
the right Of the people to avail them
selves Of those methods Of combining
capital and effort deemed necessary
to reach the highest degree of eco
nomic efficiency, at the same time diff
Terminating between combinations
based upon legitimate economic rea-
sons and those formed with the intent
of creating monopolies and artiflcial!y
controlling prices.
The work OF formulating into prac.
tical shape such changes Is creative
work of the highest order, and re
uuires all the deliberation possible in
the interval I believe that the amend,
ments to be proposed are just as nee,
essary to the protection of legitimate
business as in the clinching Of the re
forms which properly bear the Lame
of my predecessor.
A matter of the most pressing impor
lance is the revision of the tariff. In
accordance with the promises of the
platform upon which I was elected,
shall call congress into extra session
to meet on the 18th day of March, in
order that consideration may be al
once given to bill revising the Din
gley act. This should secure an ade
quate revenue and adjust the duties
in such a manner as to afford to labor
and to all industries In this country
whether of the farm, mine or factory
protection by tariff equal to the diff
ference between the cost of produc
ton abroad and the cost of production
here, and have provision which shall
put into force, upon executive determi
nation of certain facts, higher OF
maximum tariff against those coun
tries whose trade policy toward us
equitably requires such discrimination
1t is thought that there has been such
change in condition since the enact
n1ent of the Dingley Act. drafted On {
similarly protective principle, that the
measure of the tariff above stated will
permit the reduction Of rates In Ger
tain schedules and will require the ad
vancement of few, if any.
The proposal to revise the tariff
made in such an authoritative way as
to lead the business community tt
count upon it, necessarily halts al
those branches Of business directly af
fected. and as these are most impor
tant, it disturbs the whole business O
the country 1t is imperatively neces
sary therefore. that tariff bill be
drawn in good faith in accordance
with promises made before election
by the party in power, and as prompt
| ly passed as due consideration viii
permit. 1t is not that the tariff i
more important in the long run thar
the perfecting of the reforms in re
!