The Montgomery advertiser., 1909-03-05
Taft Outlines Policy
 h q Notable Speech
New President Defines His Views ou Public Mat ters--Dwells on Attitude of South
 Towards Negroes.

of responsibility If not, he has no sconception of the powers and duties Of the office upon which he is about to enter, or he Is lacking in proper sense of the obligation which the oath imposes.
 Is to give a summary outline of the main policies of the new administra- tion so far as they can be anticipated T have had the honor to be one or the advisers of my distinguished predeces- sor, and as such. to hold up his hands in the reforms he has initiated. l should be untrue to myself. to my promises and to the declarations Of the party platform upon which l was elect cd to office if I did not make the maintenance and enforcement of those reforms most important feature or my administration. They were direct ed to the suppression of the laWless- s- ness and abuses of power of the great combinations of capital invested in railroads and in industrial enterprises carrying on interstate commerce. The steps which my predecessor took and the legislation passed on his recom- mendation have accomplished much. have caused 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.
 ITO render the reforms lasting, how ever, and to secure at the same time freedom from alarm on the part or 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 anti trust law have been urged by my predecessor and Will be urged by me On the other hani. the administration Is pledged to legis- lation looking to a proper federal supervision and restriction to prevent excessive issues of bonds and stocks by companies owning and operating interstate commerce railroads
 Then. a Department of Justice. of the Bureau of Corporations in the Department or Commerce and Labor. and of the Inter state Commerce Commission, looking to effective cooperation of these agencies, is needed to secure more rapid and certain enforcement Of the laws affecting interstate railroads and industrial combinations.
 Il 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 edforce- ment.
 Tt is believed that with the changes to be recommended, American business can be assured of that measure or 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 lncluoe the right of the people to avail them selves of those methods to combining capital and effort deemed necessary to reach the highest degree of economic efficiency, at the same time diff = " .Siise-t:rc,- between combination based upon \. legitimate economic reasons and those formed with the ln- tent of creating monopolies and arti- ficially controlling prices.
 'The work of fornul lating into prac- hay. nha work of the highest order, and requires all the deliberation possible In the in- terval. 1 believe that the amendments 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 or my predecessor.
 Revision of Tariff.
 "A matter of most pressing impor- tance is the revision of the tariff. In accordance with the promises or the platform upon which l was elected. shall call Congress into extra session to meet on the 18th day of March, In order that consideration may be at once given to bill revising the Dlhg- ley Act. This should secure an adequate revenue and adjust the duties in such a manner as to afford 10 labor and to all industries in this coun- try. whether of the farm, mine or fac N tory. protection by tariff equal 70 the duction abroad and the cost or pro duction here, and have provision which shall put into force. upon eXecu- tive determination or certain ,st 1aclS, 5r z, higher or maximum tariff against those countries whose trade policy to- ward us equitably requires such dis crimination. It Is thought that there has been such change in conditions since the enactment of the Dingley Act drafted on a similarly protective prin- ciple. that the measure ot the tarlll above stated will permit the reduction tai hAH require the advancement Of feW' II "The proposal to revise the tariff made in such an authoritative way as to lead the business community tC count upon it. necessarily halts all those branches of business directly al fected. and as these are most impor- tant 1t disturbs the whole business o1 the country It is imperatively neces- sary' therefore, that tariff bill be drawn In good faith in accordance wltl promises made before the election ny the party in power, and as promptly passed as due consideration will per init It is not that the tariff is more important in the long run than tht perfecting of the reforms in respect t' antitrust Legislation and interstate conimerce regulation. but the need for action when the revision of the tarf1 has been determined upon, Is more i'm mediate to avoid emba rrassment oi business To secure the needed spec, in the passage of the tariff bill. II would seem wise to attempt no other Legislation at the extra session. l ven ture this as a suggestion only, for th' course to be taken by Congress. upoi the call of the executive. Is whoLA within It's discretion.
 Tn the making of tariff Dill. th' prime motive is taxation, and th' securing thereby of a revenue. Du' largely 10 the business depression which followed the financial panic O 1907. the revenue from customs am other sources has decreased to such al extent that the expenditures for tn current fiscal year will exceed the re ceipts by s1OO.0oN. 100. It is imperative that such a deficit shall not continue and the framers of the tariff bill mus of course have in mind the tota revenues likely to be produced by il and so arrange the duties as to secur an adequate income. should it b" i'm nossihle to do so by import duties. nev kinds of taxation must be adopted. an among these l recommend graduatt Inheritance tax, as correct In prlnClpl and as certain and easy of collection
 ''The obligation on the part "f thos responsible for the expenditures mad to carry on the government 10 De a economical as possible, and to max fhe burden Of taxation IS light as pos sihIe. is plain and should be affirme In every declaration of government noIicy This Is especially true whe we are face tn face with a heavy q" ficit But when the desire to win tn popular approval leads to the cuttinl off of expenditures really needed [ make the government effective. and [ enable 1t to accomplish it's proper oh 4ecfs the result Is ns much t0 he con demned as the waste of goV"rnnen funds in unnecessary eNpendit ure. Tn scope of a modern government 'n wha