Arizona republican., 1909-03-05
PLEDGE IF PROSPERITY
 IheEncouraging lnauguraIAd- dressof President Taft AN OUTLINE OF POLICIES
The Revision of the Tariff Among First Needs of Ma tion--Busness of Country to Be Safesuarded and Freed From Abuse.


 My Fellow Citizens:
 Any one who takes the oath I 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 obligation which the oath imposes.
 The office of an inaugural address is to give a summary outline of the main policies of the new administra- tion, so far as they can be anticipat- ed. I have had the honor to be one of the advisers of my distinguished predecessor, and as such, to hold up his hands in the reforms he has initi- ated. I should be untrue to myself. to my promises and to the dec,ara- tions of the party platform upon which l was elected to office, if 1 did not make the maintenance and en- forcement of those reforms a most important feature of my administra- tion. They were directed to the sup pression of the lawlessness and abuses of power of the great combi- nations of capital invested in rail- roads and in industrial enterprises carving on interstate commerce. The sts s which my predecessor took and the legislation passed on his recom- mendation have accomplished much, have caused a general halt in the vicious policies which created popular alarm, and have brought about in the business affected, a much higher re- gard for existing law.
 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 progressive business methods, further legislative and executive action are needed. Re- lief of the railroads from certain re- strictions of the antitrust law have been urged by my predecessor and will be urged by me. On the other hand, the administration is pledged to legislation looking to a proper federal and restriction to pre- vent excessive issues of bonds and stocks by companies owning and op- erating interstate commerce railroads.
 Then, too, a reorganization of the of justice, of the bureau of corporations in the department of commerce and labor, and of the in- terstate commerce commission, look ing to effective cooperation of these agencies, is needed to secure a more rapid and certain enforcement of the laws affecting interstate railroads and industrial combinations.
 1 hope to be, able to submit, at the first regular session of the incoming in December next, definite in respect to the needed to the antitrust and the interstate commerce law, and the changes required in the executive de- partments concerned in their enforce ment.
 The Needs of Business.
 It is believed that with the changes to be recommended, American busi- ness can be assured of that measure of stability and certainty in respect those that are prohibited, which is to the life and growth of all business. Such a 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 efficiency, at the same time between combinations based upon legitimate economic req sons and those formed with the in tent of creating monopolies and arti- ficially controlling prices.
 The work of formulating into prac- tical shape such changes is creative work of the highest order, and re- quires all the deliberation possible in the interval. I believe that the 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 predecessor.
 Tariff Revision.
 A matter of most pressing import ance is the revision of the tariff. In accordance with the promises of the platform upon which I was elected, l 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 whether of the farm, mine or factory, protection by tariff equal to the difference between the cost of abroad and the cost of here and have a provision which shall put into force. upon ex-1 ecutive determination of certain facts, a higher or maximum tariff against those countries whose trade policy to-