The Forrest City times., 1909-03-05

Washington, Mar. 4. - 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 one who takes the oath l 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 a proper sense of the obli- gation which the oath imposes.
 The office of an inaugural address Is to give summary outline of the main policies of the Eaw administra- tion, so far as they can be anticipated. l have had the honor to be one 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 I did not make the maintenance and enforcement of those reforms most important feature of my administration. They were di- rected to the suppression of the law iessness and abuses of power of the great combinations of capital invested an railroads and in industrial enter prfses carrying on 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 ere 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 slve business methods, further legisla- tive and executive action are needed Relief of the railroads from certain re stricuons of the antitrust law has been urged by my predecessor and will De urged by me. On the other hand the administration is pledged to legis lation looking to 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, a reorganization of the department of justice. of the bureau Of corporations in the department of commerce and labor, and of the inter. state commerce commission, looking to effective cooperation of these agencies, is needed to secure a more rapid and certain enforcement of the laws anecting interstate railroads and industrial combinations.
 l hope to be able to submit at the nrst 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 tance 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 al once given to bill revising the Ding ley act. This should secure an ade quate revenue and adjust the duties ir such a manner 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 provision which shall put into force, upon executive determination of certain facts. q high CT or maximum tariff against those countries whose trade policy toward us equitably requires such discrfmi nation. It is thought that there has been such change in conditions since the enactment of the Dinglev act drafted on a similarly protective nrin ciple, that the measure of the tarir above stated will permit the reduction of rates in certain schedules and will require the advancement of few. fl 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 ernment, including the most impor- tant work of saving and restoring our forests, and the general improvement or 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 10 pay for themselves, others are of such an indirect benefit that this can not be expected of them. A perma- neRt improvement, like the Panama canal. should be treated as a distinct