The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1909-03-06
TAFT'S
INAUGURAL
ADDRESS
Outlines Policy Of
Administration.
PRAISE FOR ROOSEVELT
Speech Begins With Advocacy
Of Predecessors Reforms.
MANY QUESTIONS TOUCHED.
Incoming Presidents Ideas on
Trusts and Other Matters.
PRAISE FOR ROOSEVELT
MANY QUESTIONS TOUCHED.
Incoming Presidents Ideas on
Trusts and Other Matters.

My Fellow Citizens-Any one who
takes the oath l have just taken must
feel heavy weight OF responsibility.
II not. he has no conception Of tho
powers and duties of the Office upon
which he is about 10 enter or he Is
lacking In proper sense OF. the obliga-
ton which the oath imposes
The office OF an inaugural Address is
60 give n 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 nd
Nisers OF my distinguished predecessor
and as such to hold up his hands in
The reforms he has initiated. | should
be untrue TO myself, TO my promises
and 20 the declarations OF the party
platform upon which | was elected to
Office If | did not make the malnte
nance and enforcement OF those re-
forms most important feature OF my
administration. They were directed to
the suppression OF the lawlessness and
abuses OF power Of the great combina-
tions OF capital invested IN railroads
and IN industrial enterprises carrying
on Interstate commerce. The steps
which my predecessor took and the
legislation passed on his recommends
tlon have accomplished much. have
caused a general halt I'm the vicious
policies which created popular alarm
and have brought about in the bust
ness affected a much higher regard for
existing law
Further Action Needed.
TO render the reforms lasting. how
ever. and 20 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-
strctions OF the antitrust law have
been urged by my predecessor and VIII
be urged 10y me. On the other hand.
the administration Is pledged TO legis-
lation looking TO a proper federal SUI
peryislou and restriction to prevent eX-
cessive issues OF bonds and stocks by
companies owning and operating inter
state commerce railroads
Then. too. reorganization Of the de-
partment Of Justice. OF the bureau OF
corporations IN the deparrncnt ~ com
mercc and labor and of tar Interstate
commerce commission i1O.elug 90 eifec-
tive cooperation ~ Gese agencies Is
needed 10 secure u more rapid AID GER
tain enforcement III the laws u1ect'
ing Interstate railroads ard Industrial
combinations
hope to be able lu submit at the
first regular session OF tic Incoming
congress IN December nest definite
suggestions in respect 10 The needed
amendments TO the antitrust ana the
interstate commerce law and the
changes required In the executive de-
partments concerned in their enforce
ment
GOOD and Bad Trusts"
II Is believed that with the changes
60 be recommended American busl-
ness can be assured OF that measure OF
stability and certainty I'm respect TO
those things that may be done ana
those that are prohibited. which ~
essential 10 the life and growth or
ali 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 economic
efficiency, az the same time diifcrenu-
atlng between combinations based
prOn legitimate economic reasons ana
'riose formed with the intent OF Great
Ing monopolies and artincially control
ling prices.
The work of formulating into prac-
ticnl shape such changes Is creative
work OF the highest order and requires
all the doliberation possible I'm the In
terval. believe that the amendments
TO be proposed are just as necessary In
the protection of legitimate business as
in the cllnching OF the reforms which
properly bear the name OF my prcde-
ceseor.
Revision Of tho Tariff.
A matter OF most pressing impor-
lance Is the revision Of the tarin. In
accordance with the promises OF the
platform upon which was elected, I
shall call congress Into extra session,
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