The Tupelo journal., 1909-03-05
PRESIDENT TAFTS
STRONG ADDRESS
DELIVERED BY
NATIONS NEW Chief
EXECUTIVE.
EXTRA SESSION IS PROMISED

and Navy urged-Panama Canal
Heartily Approved-southern Race
Problem and Labor Legislation
Discussed.
Washington, Mar. A. President
Taft, having been sworn in as chief
executive of the nation. delivered an
inaugural address that was listened to
with great interest. In part it was as
follows:
My Fellow Citizens: Any n who
takes the oath l have just taken must
feel a heavy weight of responsibility.
If not, he has no conception OF the
powers and duties of the office upon
which he 10 about to enter, or he is
lacking in a proper ems OF the obli-
cation which the oath imposes.
The office of an inaugural address
Is to give a summary outline of the
main policies Of the new administra-
ton, so far as they car be anticipated.
l have had the honor to be n of the
advisers of my distinguished prede-
cessor, 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 declaration of
the party platform upon which l am
elected to office, If l did not make the
maintenance and enforcement of those
reforms q most important feature of
my administration. They were d.
rected to the suppression of the law
lessness and abuses of power Of the
great combinations of capital invested
In railroads and in industrial enter
prises carrying Oh interstate COM
merce. The steps which my predec-
sor took and the legislation passed on
his recommendation have accom-
plished much, have caused a general
halt in the vicious policies which Gre
ated popular alarm, and have brought
about in the business affected a much
higher regard for existing law.
More Legislation 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 progress
sive business methods, further legisla-
tive and executive action are needed.
Relief of the railroads from certain re-
strictions Of the antitrust law has
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 SUI
pervision and restriction to prevent ex-
cessive issues of bonds and stocks by
companies owning and operating inter
state commerce railroads.
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
amendments to the antitrust and the
interstate commerce laws, and the
changes required in the executive de-
partments concerned In their enforce
ment.
Promises Extra Session.
A matter of most pressing impor-
lance is the revision of the tariff. In
accordance with the promises of the
platform upon which l was elected,
/ shall call congress into extra session,
to meet on the fifteenth 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 revenu and adjust the duties in
such a n 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 diff
ference between the cost of production
abroad and the cost of production
here, and have a provision which
shall put into force, upon executive
determination of certain facts, a high
er or maximum tariff against those
countries whose trade policy toward
us equitably requires such discrimi-
nation. 1t is thought that there has
been such a change in conditions since
the enactment of the Dingley act,
drafted on a similarly protective prin-
ciple, that the measure of the tariff
above stated will permit the reduction
of rates in certain schedules and will
require the advancement of few, If
any. +
Money Needed for Big Projects.
The putting into force of laws which
shall secure the conservation of our
resources, SO far as they may be with
In the jurisdiction of the federal gov
eminent, including the most impor-
tant work OF saving and restoring our
forests, and the general improvement
Of waterways, are all proper govern
ment functions which must involve
large expenditure If properly per-
formed. While some Of them, like the
reclamation of arid lands, are made
to pay for themselves, others are of
such an indirect benefit that this can