Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1909-03-04
Speech Begins With Advocacy
Of Predecessors Reforms.
MANY QUESTIONS TOUCHED.
Incoming Presidents Ideas on
Trusts and Other Matters.

My Fellow Citizens-Any one who
takes the oath have just taken must
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
lacking In proper sense of the obliga-
tion 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-
visers Of my distinguished predecessor
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 l was elected to
office If did not make the mainte
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 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 recommenda
tion have accomplished much, have
caused a general halt in the vicious
policies which created popular alarm
and have brought about in the bust
ness affected much higher regard for
existing law.
Further Action Needed.
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 legislative
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. |
lation looking to a proper federal su-
pervision and restriction to prevent ex- /
cessive issues of bonds and stocks by !.
companies owning and operating inter-
state commerce railroads.
Then, too, q reorganization Of the de- /
partment 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 GER
tain enforcement Of the laws affect
ing interstate railroads and industrial
combinations.
l 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
interstate commerce law and the
changes required in the executive de-
partments concerned In their enforce!
ment.
"Good and Bad Trusts" !
1t is believed that with the changes
to be recommended American busi-
ness can be assured Of that measure of
stability and certainty in respect to
those things 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 economic
efficiency, at the same time differenti-
ating between combinations based
upon legitimate economic reasons and
those formed with the intent OF Great
ing monopolies and artificially control
ling prices. ----------.