The Washington herald., 1909-03-05
JPHOLDS HANDS OF ROOSEVELT
Taft in Inaugural Address Declares Reforms Must Continue

those formed with the intent Of creating
monopoiies and artifciaIiy controlling
prices.
The work Of formulating into practical
shape such changes Is creative work OF
the highest order and requires ali the de-
liberation possible in the interval 7 be-
ieve that the amendments to he proposed
are just as necessary il the protection Of
legitimate business as in the clinchiHs
of the reforms which properly bear the
name Of my predecessor.
Tariff Revision Imperative.
4 matter Of most pressing Importance
is the revision Of the tariff. In accord
ance with the promises OF the platform
upon which I was elected shall call
Congress into extra session. 10 meet on
the 18th DAY Of March. in order that con-
sideration may be at once given 20 a bill
revising The Dirgley act. This should
secure an adequate revenue and adjust
the duties in such a manner as 10 afford
TO labor and TO all industries in this
country. whether Of the farm. mine. or
factory, protection by tariff equal to the
difference between the cost Of production
abroad a:1 the cost Of production here.
and have provision which shall put
into force. upon executive determination
Of certain facts. a higher or maximum
tariff against those countries whose
trade policy toward us equitably requires
such discrimination II is thought that
there has been such a change in condi-
tiors since the enactment Of the Dingiey
act. drafted on a similarly protective
principle that the measure Of the tariff
above stated viii permit the reduction
OF rates in certain schedules and viii re-
Quire the advancement of few il any.
The proposal 20 revise the tariff made in
such an authoritative way as to lead the
business community 10 count upon it
necessarily halts all those branches of
business directly affected, and as these
are most important It dustUrbs the whole
business OF the country. It is impera-
lively necessary. therefore, that tariff
bill be drawn I'm good faith in accordance
with promises made before the election
by the party in power, and as promptly
/ passed as due consideration viii permit.
It is not that the tariff is more important
I in the long run than the perfecting of the
reforms in respect TO antitrust legislation
and interstate commerce regulation. but
the need Of action when the revision Of
/ the tariff has been determined upon is
more immediate to avoid embarrassment
/ of business. To secure the needed speed
/ in the passage Of the tariff bin il would
seem wise 20 attempt no other legislation
at the extra session. I venture this as a
suggestion only. for the course 10 be
taken by Congress upon the call OF the
/ Executive is wholly within its discretion
! In the making of 2 tariff bill the prime
/ motive is taxation and the securing there
/ by Of a revenue. Due largely 10 the
! business depression which followed the
/ financial panic Of 1907. the revenue from
/ customs and other sources has decreased
( 10 such an extent that the expenditure.
for the current fiscal year viii exceed the
4 receipts by S100.C0o.G0 il is imperativ,
1 that such deficit shall not continue
( and the trainers Of the tariff bin must. ot
course. have in mind the total revenue.
/ likely 10 be produced by it and so arrang,
the duties as TO secure an adequate in.
come. Should it be impossible 70 do s,
( BY import duties, new kinds Of taxation
must be adopted. and among these I rec
ommend a graduated inheritance tax a!
correct in principle and as certain anC
easy Of collection
The obligation on the part &C those re
sponsible for the expenditures made L
carry on the government. 70 be as eco
/ nomical as possible and to make the bur
den Of taxation as light as possible. il
plain and should be affirmed in every dec
laTatiOn Of government policy. This is es