The Marion daily mirror. (Marion, Ohio) 1892-1912, 1909-09-15
TAFT EXPLAINS
OBJECT OF TRIP
Goes West to Commune With
People.
HOPES TO LEARN NEEDS


Predicts Era Of Prosperity and
Says Laws Must Be Enforced to
Curb RapaeIty Of Some People.
Rsps at Governor johnson.
Boston, Sept. 15.--President Taft
opened his speaking tour that will
take him twice across the continent
at banquet rendered him by the
Boston chamber OF commerce. He
spoke In part as follows:
II am ON the eve OF beginning
journey of 10000 miles in length,
which will enable me to see tens and
hundreds Of thousands of my fellow
citizens, and enable them, hope, to
see me. Occasionally / hear the
query why ! should start off on such
trip and what particular good does
II do to anybody? Well, IL certainly
Is not going TO be a pleasure trip. al
though / shall enjoy it. II will in
volve much hard work and great
deal OF mental effort to think OF
things to say and to say them simply
and clearly, SO that they can be un-
derstood. On the other hand. II will
certainly give me a very much more
accurate impression as TO the views
Of the people in the sections which
visit. II will bring closely to me the
needs of particular sections, so far
as national legislation and executive
action are concerned; and ! believe
1t will make me a wiser man and a
better public officer.
Your chairman has made some
reference to a humber OF subjects 10
which the attention OF congress may
well be directed. In the first place,
there is the monetary situation.
While il is probable that the Vree-
land BILL passed by the last congress,
would aid us In case OF another finan.
cial crash, II Is certain that our bank
Ing and monetary system Is patched
up affair which satisfies nobody, and
least of all those who are clear-head-
ed and have a knowledge of what a
financial system should be. The mat
ter has been referred by congress to
a monetary commission, which has
been studying with much interest and
enthusiasm the financial and banking
systems OF the great governments of
Europe, and has embodied ard will
soon publish I'm interesting and at
tractive form the best accounts of
the financial systems of the world IL
is quite apparent from the statements
of Mr. Vreeland and from the conver-
sations of Mr.. Aldrioh that the trend
of minds OF the monetary commission
Is toward some sort of arrangement
for a central bank OF issue, which
shall control the reserve and exercise
a power TO meet and control the cas-,
ual stringency which from time 90
time will come In the circulating me-
dium OF the country and the world |
Mr. Aldrich states that there are two
indispensable requirements In any
plan to be. adopted involving a cen
tral bank Of issue. The one is that |
the control of the monetary system |
shall be kept from Wall street infu- |
ences, and the other that II shall not |
be manipulated for political purposes. |
These are two principles to which we |
can all subscribe.
II am told that Mr.. Aldrich will !,
swing around the circle, In the pres
ent fall and win lecture In many Of |
the cities of the middle west on The |
defects and needs OF our monetary |
system. | can not too strongly ap- |
prove OF this proposal. Mr.. Aldricb. |
who is the leader OF the senate, and |
certainly one of the ablest statesmen |
In financial matters In either house,
has been regarded with deep suspi. |
clon by many people, especially in |
the west. II, with his clear-cut ideas
and simple but effective style of |
speaking, he makes apparent to the |
western people what ] believe to be |
his earnest desire to aid the people !
and TO crown his political career by |
the preparation and passage OF bill |
which shall give us sound and safe |
monetary and banking system, II |
would be long step toward remov.
ing the political obstacles to proper
solution of the question.
II am not going To discuss the mer-
its and demerits of the new tariff bill |
with you. ] shall have often to refer |
to that before my journey Is ended,
and | must save something for other
audiences. Suffice II to say that the
passage of the tariff bill has removed |
a disturbing element In business
During Mr.. Rooseyelt's admins.
tration We were all struck with the
necessity for reform In business
methods. for more scrupulous atten-
tion to the conduct OF business In ac-
with law, and for the neces-
slty OF simplifying the law In such
way as to make il clear to corporate
what they can do and what
they can not do.
1--WE are, | believe, unless all signs
fall on the eve Of another great busi.
ness expansion, an era OF prosperity.
Indeed. 1t is already here In many
branches OF business. The hum OF
prosperity and the ecstacy OF grea,
profits are likely 10 dull ont interest
IN these reforms and 10 lead lis back
again to the old ABUSES unless we In.
aist upoa legislation which shall