Bisbee daily review., 1909-03-05
INAUGURAL AooRsEs


 | My Fellow Citizens:
 Any one who takes the oath l have i just taken must feel heavy weigh of responsibility. If not, he has ns conception Of the powers and duties of the office upon which he is about to enter. or he is lacking in a propei sense of the obligation which the oatl imposes.
 The office of an Inaugural Address is to give q summary outline of tho main policies of the flew administrat ! ton. SO fara as they can be anticipated have had the honor to be one O, the advisers or my distinguished pred 1 ecessor. and as such. to hold up ais hands in the reforms he has initiated l should be untrue to myself. fo my promises and the the declarations Q, the party platform upon which I was elected to office, if I did not make ! tie maintelance and enforcement oi those reforms q most important feat urc of my administration They were directed to the suppression of the ! laRiessnesS and abuses of power oi tbe great combinations of capital ia, vested in railroads and in industrial enterprises car-yng on interstate com, Inerce. The steps which my prede- ceSosr took and the legislation passed on his recommendation have accom-. plished much, have caused a general halt in the vicious policies which created popGlar alarm. and have brought about in the business ar fected. a much higher regard for ex. isting 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. i've business methods, further legisla- tive and executive action are needed. Relief of tae railroads from certain restrictions 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 10 a proper federal supervisor and restriction to prevent excessive issues of bonds and stocks by companies owning and operatine intertats commerce railroads.
 Then, too a reorganization of the Department Of Justice of the Bureau Of Corporations iu the Department or Commerce and Labor, and Of the Interstate Commerce Commission, looking to effective 70 operation or these agencies, is needed to secure a more rapid and certain enforcement of the laws affecting interstate rail roads and industrial combinations.
 ! hope to be able to submit. at the first regular session of the incoming congress, in December next, definite sUf n amendments to the antitrust and the Interstate commerce law. and the chages required in the executive de partmcnts concerned in their enforce mCnt
 A matter of the most pressing i'm. portancs Is the revision of the tariff. In accordance with the promises of the platform upon which was elected. l shall call congress into ex- tra session. to meet OF the 18th day of March, iu order that consideration may be at once given to bill revis- ing the Diugley Act This should se- cure an adequate revenue and adjust ibe duties in such a manner as to af ford tO labor and 10 all industries in this country. whether of the farm, mine or factory. protection by torifi  equal to the difference between the cast of production abroad and fSe cost cf production here, and have a preyis- ion which snail put into force. upon t. eclsgTc us tetmlIfasion of certain facts, higher or maximum tariff against those countries whose trade policy toward us equitably requires such discrimination. It is thought that there has been such a change in l'coHditions since the enactment of the Dnsiey Act drafted on similarly pro ctectiEc principle. that the measure of the tariff above stated will pernut The reduction of rates in certain sohcdules ard will require the ad- gancemcnt of few. If aBy
 in he making of tariff bill. the inc motive is taxation. and the se- ctuiIg thereby of a revenue. Due largely 10 the business depression which followed the financial panic of 1907. taC revenue from customs and Cthcr sources has decreased to such an extent that the expenditures for Che current fiscal year will exceed the receipts by SiO0.OG0. GOO. It is i'm EcradyC that such a deficit shall not coDdnuc. ard the framers of the tar.  IF bul must of course have in mind Jre total reyenue likely tO be pro duced by it. and so arrange the duties as tO secure an adequate income. Should it be impossible to do so by import duties. new kinds of taxation mu7t be adopted. and among these I recommend a graduated inheritance iaX. as correct in principle and as cer- tain and easy Of collection.
 In the Department of Agriculture. the use of scientific experiments on a largo scale. and the spread of infor- nation derived from taem for the im- TroFement of general agriculture, must so on.
 The importance of supervising bus iress of great railways and industrial combinations. and tho necessary iu- vestiEation and prosecution of unlaw- igi business methods. are another necessary tax upon government which did not exist half century ago.
 fCOntfnued on Page Three