The new South-news., 1909-03-13
Ny rellow Citizens,

about 10 enter, or be- BE- lacking in o
,roper sense q The obligation which
he oath imporcs
should bo untrue 20 myself,
10 my promise. and 40 The declara
lions of The party platform upon
shieh ! was elected 10 Office. and
% may distinguished predecessor
ehoao reforms are conspicuous if
iil bot make ihc maintenance nnd on-
'ofccment of those reforms a most
important feature Of my adminislra-
.ion They wore directed 10 tho sup.
preston uf ihc lnNlcssncas and
lhunes 0f power of the great com
linaiiuus Of rnplial invested in rail
'onds and ln industrial enterprise
iaffying ON interstate commerce. The
steps which nay predecessor took aud
De legislation passed on hi. recon.
mondaiion have accomplished much.
have caused a general halt in the
Vicious policies which created pop
llar alarm, aud have brought about
the business affected, a much hieh-
,f regard for existing law
TO render the reforms lasting.
however and 10 secure ai the snme
lime Freedom from alarm on The pan
'f those pursuing proper hnd pfo-
ffehqiye business methods. further
legislative aud executive action are
locded. Relief of the railroads from
'cfinin restrictions of the antitrust
aw have bccn urged hy my prcdccos.
'or and will be- urged BY me. On
NE other hand. the administration is
pledged 70 legislation looking 60
proper fcdornl supervision and ro
dnrtiun to prevent excessive issues
II bonds and stocks By companio.
owning and operating interstate com
ncrcc railroads.
Then, too, q Reorganization of the
Department of Justice. of tho Bu.
reu Of Corporations in the Depart
mont Of Commerce and Labor and
,f the Interstate Commerce ,ommis-
uon looking io effective co.opc,aiion
n these agencies, is needed 90 secure
, more rapid and certain enforce.
mont of The laws affecting interstate
railroads and industrial comhina.
ions.
! hope TO be able 10 suhmit, at tho
ns' regular session Of the incoming
Congress. In p.cemh.r next. definite
suggestions IN respect io the needed
amendments 10 The antitrust and the
Interstate commerce law. and tho
,hanges required in The executive de
parimcnts concerned in thoir enforce
ncnt.
Such plans must be- formulated rs
NIL include the night of the people 10
avail themselves of these methods of
combining capital and effort deemed
necessary 60 reach the highest de-.
frcc Of economic efficiency. At the
same time diiferntiating between
combinations based upon legitimate
economic rasons and those formed
NTH the in,cnt Of creating monopo-
hes and ariiiclally controlling prices.
The work Of formulating into prac-
heal shape such changes IN creative
work of the highest onlcr. No.
auires all the dcihcration possible
m the interval believe that the
amendments 20 be proposed are inst
A. necessary In the protection of
legitimate business A. In the clinch-
mg Of the reforms which properly
bear the name Of my predecessor.
Revision Of the Tariff.
A matter Of most pressing impor.
lance Is The revision of the tariff In
accordance with the promise of the
platform upon which I was elected.
! shall call Congress into extra ses-
non, to meet on the 18th day Of
Narh. IN order that consideration
may be al once gwen 10 hill rc-
,isine the nincleN Act This should
securc an adequate revenue and al.
Just the duties IN such manner as
20 afford 10 labor and 10 an indus.
incs IN ihis country. whether ~ he
farm. mine on factory. protection hv
ienn equal TO the difference between
shc cost Of production abroad and
The cosi ct production here. and have
a prNsicn which shall pat ia force
cpon executive determination 81 ce,.
f"fN A''tN NlANtf OF maximum
tarh against those countries whose
trade policy toward us cdUiiahlv re-
4nircS such Discrimination. ID Is
thought that The iafe above stated
wall permit The Induction OK rates 10
certain schedules sna Viil rcqairc the
advancement of few. II anV.
Ii Is impaativtls necessary thai a
land bin be drawn Ia good faith IL
sccorasucc with prom.Ses ms5e be-
tone the election hy party IN powcr.
and a. promptly passed as Cue consia-
era'ion VIII permit. Il Is not That iho
tsud is mor important Ia thc long
ran than the perfcctinc Of ere re-
Forms IN respect 10 autigrasf lccis.
isiion and Interstate commerce recn.
lation. hu, the need for action WHOM
the revision 81 ihc talN has been
determined upon IS more immediate
TO avoid CmhsrfaS>meni Of business
Graduated Inheritance Tax.
Il islmparativt thaf iht dafsif .af the