The Bridgeport evening farmer., 1909-03-04
SKETCH SHOWING

lat1on looking to d 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 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 cer 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 the 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- atfng between combinations based
 
 those formed with the intent of creat- ing monopolies and artifcially control ling prices.
 The work of formulating into prac- tical shape such changes is creative work of the highest order and requires all the deliberation possible in the in terval. l believe that the amendments to be proposed are just as necessary in the protection of legitimate business as in the clinching of the reforms which properly bear the name of my prede- cesSor.
 Revision of the Tariff.
 A matter of most pressing. impor- tance is the revision of the tariff. In accordance with the promises of the platform upon which 1 was elected. I shall call congress into extra session. to meet on the 18th 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 revenue and adjust the duties in such 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 differ ence between the cost of production abroad and the cost of production here and have a provision which shall put into force, upon executive determina- tion of certain facts, a higher or maxi mum tariff against those countries whose trade policy toward us equitably requires such discrimination. It is thought that there has been such a change in conditions since the enact ment of the Dingley act, drafted on a similarly protective principle, that the measure of the tariff above stated will permit the reduction of rates in certain schedules and will require the ad- vancement of few, if any.
 The proposal to revise the tariff made in such an authoritative way as to lead the business community to count upon it necessarily halts all those branches of business directly affected, and as these are most inn portant it disturbs the whole business of the country. 1t is imperatively nec- essary. therefore. that tariff bill be drawn in good faith in accordance with promises made before the cleo ton by the party in power and as passed as due consideration will permit