The Marion daily mirror. (Marion, Ohio) 1892-1912, 1909-03-04

Washington. March 4.-Following
the ceremonies that marked his eleva-
tion to the office of chief executive of
the United States. President TAFT de
livered his inaugural address, as fol-
lows
My Fellow Citizens: Any one who
takes the oath ! have just taken must
feel a 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 proper sense Of the obl.
CATION 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 anticipated
] have had the honor to be one of the
advisers Of my distinguished prede
cessor, and as such, to hold up his
hands in the reforms he has initiated.
! should be untrue TO myself to my
promises and TO the declarations Of
the party platform upon which | am
elected to office, If did not make the
reforms most important feature of
my administration. They were di-
rected 10 the suppression of the law
lessness and abuses of power Of the
great combinations of capital invested
In railroads and i'm industrial enter
prises carrying on interstate com.
merce. The steps which my predeces-
sor toob and tho legislation passed on
his ,mmcndation have accom-.
plished much. have caused a general
halt in the vicious policies which ere.
ated popular alarm, and have brought
about in the business affected, a much
higher regard 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 progress
sive business methods, further legisla-
tive and executive action are needed.
Relief 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 legis,
lation looking to a proper federal su.
peryision and restriction to prevent ex-
cesslve issues of'bonds and stocks by
companies owning and operating inter
state commerce railroads.
Then, too, reorganization of the
department of Justice, of the bureau
OF corporations in the department Of
commerce and labor, and of the inter
state commerce commission, looking
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
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
II is believed mat with the changes
10 be recommended, American bust
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 es.
sential 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
20 reach the highest degree OF econom
&c efficiency, at the same time dif.
ferentiating between combinations
based upon legitimate economic rea.
sons aud those formed with the intent
Of creating monopolies and artihcially
controlling prices
The work OF formulating into prac.
tical shape such changes is creative
work OF the highest order and re
.qures all the ieliberation possible IN
ahe interval. believe that the amend
lpents 70 be proposed are just as nee
tssary In the protection OF Legitimate
business as In the olinehlng Of the re
forms which properly bear the name
pf my predecessor.
Extra Session March rs TO
Consider Revision Of Tariff
A matter OF most rreqfn4 impor
fanoe Is the revision OF the tarin. Ia
accordance with the promises Of the