New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-03-05
Pledges Himself to Continue Reforms
Mr.. Roosevelt Began-Prompt
Tariff Revision Of Most
PRESSING Importance.
Pressing Importance.

80 orn,tted. The full text Of the address, as
prepared follows:
MY Fellow Citizens: Any one VINO takes the
rstr7 have tust taken must feel 8 heavy weight
nf responsibility. II not re has no conception
Of the powers and duties Of the Office upon
which he is about to enter, or he is lacking IN
e -roner sense OF the obligation which the oath
imposes.
The Office Of ar inaugural address is TO give a
summary outline of the main policies OF the ne"
administration. so far they can be anticipated
have had the honor TO be one Of the advisers
NJ nv distinguished predecessor. and. as SUCH 20
hid I'D his hands in the reforms he has fnit-
eted should be untrue to myself. 10 my
promises and TO the declarations OF the party
platform upon which I was elected to office II
did not make the maintenance and enforce
r7ent Of those reforms a most important feature
Of my administration. They were directed TO
the suppression Of the lswlessness and abuses OF
mower os the great combinations of capital in
vested in railroads and in Industrial enterprises
carrying on interstate commerce. The steps
Srhfch nv PREDECESSOR took and the legislation
psssed on his recommendation have accom-
plisred much have caused a general halt in the
vicious policies which created popular alarm
and have brought about in the business affected
q much higher regard for existing law
Relief FOR RAILROADS.
To render the reforms lasting, however and to
secure II the same time freedom from alarm on
she part of those pursuing proper and progress
si,-e business methods further legislative and
executive action is needed Relief of the rail-
roads from certain restrictions Of the antitrust
law has been urged by my predecessor and will
Ne urged by me On the other hand. the admin
ss+-z+san IS niedged TO legislation looking to a
nroper federal supervision and restriction to pre-
gent excessive issues Of bonds and stocks by
companies owning and operating interstate COM
enerce railroads
Then TOO reorganization Of the Department
~, Justice. Of the bureau Of corporations in the
1eenartuent of Commerce and Labor, and or the
.n+erstste Commerce Commission, looking to ef-
sec+ive co-orerstion Of these agencies. is needed
W zec,,re = mere rapid and certain enforcement
-. the Laws affecting interstate railroads and IN
6ustrial combinations.
bone 70 he able te submit, az the first regu-
lar session Of the incoming Congress, in Decen-
her next definite suggestions in respect TO the
needed amendments to the antitrust ana the
interstate commerce laws and the changes re-
ouired in the executive departments concerned
tn their enforcement
p "a he,eved that with The changes to be
~scorrended American business can be assured
Of that measure OF stability and certainty IN re-
epect 70 those things that may be done ana
those that are prohibited which is essential TO
she life and growth Of all business Such plan
must include the right Of the people TO aVall
themselves Of those methods of combining capt.
tai and effort deemed necessary 70 reach the
t,,r+est degree Of economic efficiency. at the
ear,e time 5iferentiating between combinations
hased upon legitimate economic reasons and
those formed with the intent Of creating monop-
olies and artiheially controlling prices
The work Of formulating into practical snaps
x,c5 changes is creative work Of the highest
order. and requires all the elaboration possible
IN the interval / believe that the ameno1nen's
TO be proposed are just es necessary in the pro
1ection Of legitimate business as IN the clinehins
of the reforms which properly bear the name OF
my predecessor
TARIFF REVISION.
A matter Of most pressing importance is tne
-svision Of the tariff. In accordance with the
promises of the platform upon which was
elected shall call Congress into extra session.
70 meet on the 10Th day of March. in order that
consideration may be at once given 10 a Dill
revising the Dingley act. This should secure an
adequate revenue ana adjust the duties in such
manner as to afford TO labor and to all INDUS
tries in this country, whether Of the farm, mine
or factory, protection by tariff equal to the dit-
ference between the cost Of production abroad
and the cost of production here, and have pro-
vision which shall put into force upon executive
determination of certain facts higher or maxi
MIN. tariff against those countries whose trade
policy toward Us eautsbiy requires sucn cis-
elimination. II IS thought that there has been
such change in conditions since the enactment
ef the Dingiey act, drafted a similarly pro
1ective principle that the measure Of the tauft
above stated will permit the reduction OF rates
In certain schedules and will require the ao-
vsncenent Of few. If any.
The proe--ssl 90 revise the tariff, made in such
IN authoritative way as 70 lead the business
community 20 count upon IT, necessarily halts
all those branches Of business directly afecteo'
snd as these are most important, IL disturhs the
whole business OF the country. II is impera-
favely necessary, therefore, that a tarih oiil
be drawn in good faith IN accordance with prom
.ses made before the election by the party in
power, and SIS promptly passed as due CONSIDER
alton will permit. II is not that the tar1n Is
more important in the long run than the per-
teotiax Of the reforms in respect TO antitrust
legislation and interstate commerce regulation
but the need for action when the revision of the
tariff has been determined upon is more imnle-
diate &c avoid embarrassment of business. To
secure the needed speed in the passage Of the
tariff bin it would seem wise attempt no
other legislation az the extra session venture
this as a suggestion only. for the course TO be
taken by Congress upon the call of the Execu-
1--WE is wholly within its discretion.
MORE REVENUE NEEDED
In the making of q tariff bill the prime mo-
tive is taxation. and the securing thereby Of a
revenue Due LARGELY TO the business depression
which followed the financial panic of 1907 the
revenue from customs and other sources has de-
creased TO such extent that the expenditures
for the current fiscal year viii exceed the re-
&c sry1r.e five