The Morris County chronicle. [volume] (Morristown, N.J.) 1877-1915, 1909-11-16

Augusta, Ca. - The keynote Of
President Taft's message to the com
ing session of Congress will be this
statement.
This Administration was elected
on a platform that we proposed TIC
carry out the policies of Theodore
Roosevelt and we propose to keeL
that promise
The President reserves to himself
the right to decide what those poll
cies are. He has said in public adj
dresses that he, more than any other
man, perhaps, had been in position
to know just what Roosevelt did OF
did not believe.
''Mr. Roosevelts chief policy" he
has said, was the determination to
make the great corporations of the
country obey the law, and those cor
porations included the railroads and
the great industrial corporations that
do large industrial business and
that have shown tendency to mon
opolize that business and suppress
competition"
Mr.. Taft has indicated clearly
enough in his speeches what his mes
sage will be.
1t will recommend an unusually
long program for Congress and one
that is likely to revive a good deal
of the hostility shown to the Roose-
welt Administration on the score oil
the railroad rate legislation.
That the President has been look
ing forward to the possibility of seri-
GUS opposition within the ranks OF
his own party is indicated by his re-
cent speeches.
Mr.. Taft will recommend court
of five members in order that when
the Interstate Commerce Commission
shall decide a rate is unreasonable a
reasonable rate may be made at once
with no appeal on the part of the
| railroads except to the Supreme
Court. This is to make the Hepburn
rate bill effective. He will point out
that the five judges, having no Other
business before them, can not only
expedite legislation, but naturally
will become rate experts.
There will be also a recommends
ton of a tribunal that will pass or
how many bonds and how many
shares of stock every interstate rail
road may issue, to prevent the water.
ing of stock. At one time the Presi.
dent said: This is Important, be.
cause when you water stock you only
do 1t to deceive people and get them
to pay more than the stock is worth
Further, Mr.. Taft said. it is wrong
because it builds false foundation
on which to reckon what reasonable
freight rates are. t..5.s
To further expedite the work Of
making railroads obey the law, the
| President will recommend a reorgani
cation of the Bureau of Corporations
! the Interstate Commerce CommiCSioI
| and the Department of Justice tina
the three may work progressively ane
not be stumbling over one another
as they are under the present sys
| TEN. But the President will make i
clear that he is not attacking corpor
ations that work legitimately. Hi
| own expression on that subject is:
1--WE could not get along withou
corporations. They are a necessar!
instrument in the business of the
country. But as we give them privil
eyes, so they must recognize the re
sponsibility with which they exercise
power, and we must have the means
of compelling them to recognize tina
responsibility and to keep them with
in the law"
The President will recommend al
amendment to the antitrust law tina
he thinks will make 1t effective. TIT
| present terms are SO broad that in hi
mind it is not enforceable, as it make
no distinction between a reasonable
and an unreasonablerestra of trad
Ia difference that is recognized b.
the common law. He will recommend
that the law be amended to marrow
and conflne it to combinations ant
conspiracies to suppress competition
and establish monopolies, and to leav,
out the denunciations of general re
straints of trade. He will not recon
mend that labor unions be specificall.