Orange County observer. [volume] (Hillsborough, N.C.) 1880-1918, 1909-03-11
iIFT'S Inaugural ADDRESS
o~.1;vercd by The New President Upon
Tbe Occasion Of His Inauguration.
Outline Of Els Policies Clearly
and Forcibly Set Forth.
\, Fellow Citizens; .., The oath

weight Conception o. of the powers ana
bs no eo' ~ Office upon which he IS
duties % o. enter, or he is lacking IN a
about sorsc of the obligation when
he oath imposes untr,e to myself,
! Sn0 nromises and to the declara-
to my # the party platform upon
b es, ! was elected to ONCE, ana
when distinguished predecessor
to may rroforms are conspicuous II |
T1VI not make the maintenance ! an n ent
t0r ce4ert feature of my administra-
I mp They were directed to the sup,
ton' Of the lawlessness and
PEsssssD Of power Of the great com
'isstiops Of capital invested in rail-
Is md in industrial enterprises mes
s lssy;nc on interstate commerce: Inc
s ssans Which my predecessor took and
s SIC 1oc;s1ation passed on his recon-
VIC 1;on have accomplished much,
s 5s,' caused a general halt in the
n ps;o policies which created pop
u '1sS alarm. and have brought about
aa' +bs business affected, much high
w rcga.d for existing law.
10 render the reforms lasting,
.orovor and to secure at the same
.mo freedom from alarm on the part
of those pursuing proper and pro
srossivc business methods, further
legislative and executive action are
Wooded, Relief Of the railroads from
esrtaiin restrictions Of the antitrust
law have been urged by my predeces-
sr and will be urged by me. On
tbp other hand, the administration is
nledged to legislation looking to a
moper federal supervision and re-
ERECTION to prevent excessive issues
Of bonds and stocks by companies
owning and operating interstate COM
nerce railroads.
Then, too, a reorganization Of che
Department Of Justice, Of the Blu
reau Of Corporations in the Depart
ment of Commerce and Labor and
Of the Interstate Commerce Commits
sion locking to effective cooperation
Of these agencies, is needed to secure
a more rapid and certain enforce
nent Of the laws affecting interstate
railroads and industrial combina-
tons.
I hope to be able to submit, at the
first regular session of the incoming
Congress, in December next, defnit.
suggestions IN respect to the needed
amendments to the antitrust and tn
Interstate commerce law, and tn
changes required in the executive de
partments concerned in their enforce
nent.
Such plans must be formulated a
will include the right of the people t.
avail themselves Of those methods O
combining capital and effort deemei
necessary to reach the highest de
gree Of economic efficiency, at tn
same time differentiating betwee
combinations based upon legitimat
economic reasons and those forme
with the intent Of creating monop(
Ia
lies and artifcially controlling price
Inc work Of formulating into pra,
tcal shape such changes in greatly
work of the highest order, r,
CURES all the deliberation possib]
IN the interval. I believe that tt
amendments to be proposed are jul
as necessary in the protection
ieslllmate business as in the cline.
ing OF the reforms which proper.
'ear the name Of my predecessor.
Revision Of the Tariff.
"A matter Of most pressing impo
vance is the revision Of the tariff. :
aIcordanee with the promise of t
F'a,loIm upon which I was electe
snall call Congress into extra SC
S,vll' TO meet on the 18th day
male1' IN order that considerati,
v! De at once given to a bill i
nslng the Dingley Act. This shou
wv; reafe an adequate revenue and a
,a'' she duties In such a manner
~ a1ord to labor and to all indr
f.s ss IN this country, whether of t
tana NINE or factory, protection
t b,ll equal to the difference betwe
t f. cost OF production abroad a.
vosl OF production here, and ha
nn PROVISION which shall put in for
t tpon executive determination of G,
t ts,a 1acts, a higher or maxim,
tra ia against those countries who
W., ~aae policy toward us equitablv
, 1~.es such discrimination. It
vii; Tusnt that the tariff above stat
. sm permit the reduction of rates
schedules and will require
nfS9cement Of few, if any.
tariff Is -: 1GImparatively necessary tina,
,eeo n OIL be drawn in good faith
for s Ooi with promises made
AND AND The election by party in DOW
erat as promptly passed as due cons
ta r'ron will permit, 1t is not that
,un tL ~ more important in the |,
forms man the p~erfecting of the
lation IL respect to antitrust lie.
lat;on dIo interstate commerce re
the r, oaf the need for action W
deter ,e;lslon Of the tariff has b,