The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1909-03-05

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.
MANY QUESTIONS TOUCHED.
Incoming Presidents Ideas on
Trusts and Other Matters.


Ny Fellow Citizens Any one who
takes the oath have Just taken must
feel a heavy weight Of responsibility.
II not, he has no conception OF tho
powers aud duties Of the otilce upon
which hc n about 10 enter or no IL
lacking In proper sense Of the obliga.
uon which the oath imposes.
The office ~ an inaugural address n
90 give summary outline Of the main
policies Of the now administration 80
far ~ they can hp anticipated. ! have
had the honor 10 DO one Of the nd.
visers Of my distinguished predecessor
and AZ such 10 hold up his hands In
the reforms he has initiated. | should
be untrue TO myself, to my promises
and TO the declarations OF the party
platform upon which l was elected 10
ONCE II did not make the mainte
nance and enforcement Of those re-
forms most important feature Of my
administration, They were directed to
the suppression OF the iawlesanesa and
abuses Of power Of the great comblna.
tons 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 bnsl
ness affected a much higher regard for
existing law.
Further Action Needed.
10 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-
strlctiona OF the antitrust law have
been urged by my predecessor and win
be urged by me. On the other hand,
the administration Is pledged TO legls-
lation looking to a proper federal 81.
pervlHion and restriction to prevent ex-
ceesive 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 department OF COM
merce and labor and Of the interstate
commerce commission looking to effec-
tive cooperation Of these agencies IL
needed 10 secure a more rapid and GER
tain enforcement Of the laws affect
ing interstate railroads and industrial
combinations,
I 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 tho
interstate commerce law and the
changes required In the executive de-
partments concerned In their enforce
ment.
( "oood and Bad TrustS."
It Is believed that with the changes
to bo recommended American bust
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
ali business. Such a 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 dinerent-
atlng between combinations based
upon legitimate economic reasons and
those formed with the intent Of Great
ing monopolies and artifcially control
ling prices,
The work of formulating into prac-
tical shape such changes Is creative
work Of the highest order ana requires
all the deliberatlon possible IN the In
terval. believe that the amendments
to be proposed are just as necessary IN
the protection of legitimate business as
in the clinchlng of the reforms which
properly bear the name Of my prede'
cessOr.
Revision Of the Tarih'
A matter Of most pressing impor-
tance Is the revision of the tarin. In
accordance with the promises q the
platform upon which ! was elected, !
shall call congress Into extra session.