Norwich bulletin., 1909-03-05

My Fellow Citizens-Auy one who 1 takes the oath I have just taken must 1 feel heavy weight of responsibility If not, he has no conception of the powers and duties of the office upon which he is about to enter or he is hacking in a proper sense of the obliga- xion which the oath imposes. The office of an inaugural address is to give a summary outline of the main policies of the new administration so far as they can be anticipated. have had the honor to be one of the ad- vtsers of my distinguished predecessor and as such to hold up his hands in the reforms he has initiated. l should Do untrue to myself, to my promises and to the declarations of the party platform upon which was elected to office if I did not make the matnte nance and enforcement of those re- forms a most important feature of my administration. They were directed to the suppression of the lawlessness and abuses of power of the great eombina- tions of capital invested in railroads and in industrial enterprises carrying Ou interstate commerce. The steps which my predecessor took and the legislation passed on his recommends tion have accomplished much, have caused a general halt in the vicious policies which created popular alarm and have brought about in the busi ness affected much higher yegard for existing law.
 Further Action Needed.
 To render the reforms lasting, how sver, and to secure at the same time freedom from alarm on the part of those pursuing proper and progressive business methods further legislative and executive action are needed. Re lief of the railroads from certain re- gtrictions 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 legis- lation looking to a proper federal su- Dervision and restriction to prevent ex- eessive issues of bonds and stocks by companies owning and operating inter- state commerce railroads.
 Then, too, a reorganization of the de- Dartment of justice, of the bureau of corporations. in the department of com merce and labor and of the interstate commerce commission looking to effec- tive cooperation of these agencies is needed to secure a more rapid and cer- tain enforcement of the laws affect ing interstate railroads and industrial combinations.
 I hope to be able to submit at the first regular session of the incoming congress in December next definite suggestions in respect to the needed amendments to the antitrust and the Interstate commerce law and the changes required in the executive de- Dartments concerned fin their enforce ment,
 Good ard Bad Trusts."
 Ft fs believed that with the changes 10 be recommended American busi- ness can be assured of that measure of stability and certainty in respect to those thingg that may be done and those that are prohibited, which is essential to the life and growth of all business Such 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 ecOPomic efficiency, at the same time differenti- atfng between combinations based upon legitimate economic reasons and those formed with the intent of creat- ing monopolies and artihcially control ling prices.
 The work of formulating into prae- tical shape such changes fig creative work of tue highest order and requires all the dellberation possible in the in- eerval. believe that the amendments to be proposed are just as necessary in the protection of legitimate business as an the cIlnehing of the reforms which properiy bear the name of my prede- cessor.
 Revision of the Tariff.
 A matter of most pressing tn1por- fnnce is the revision of the tariff. In accordance with the promises of the platform upon whlch I was elected, l shall call congress into extra session. to meet on the 18th day of March, in order that consideration may be at once given to a bill revising the Ding ley 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 differ ence between the cost of production abroad and the cost of production here and have a provision which shall put Into force, upon executive determine lion of certain facts, a higher or maxi mum tariff against those countries whose trade policy toward us equitaoly requires such discrimination. It is thought that there has been such a change ln conditions since the enact ment of the Dingley act drafted on similarly protective principle, that the measure of the tariff above stated will permit the reduction of rates in certain schedules and win require the ad Vancement of few, if any.
 The proposal to revise the ta-if made in such an authoritative way a to lead the business community l. count upon N necessarily halts al those hranehes of business dfrectf nnscted, and as these are most i'm