The herald-advance. (Milbank, S.D.) 1890-1922, 1909-03-12
Main Policies of Administration
OutIined-WiiI Maintain
RoOsevelt's Reforms.
TARIFF REVISION IS PRESSING
A Tariff Bill Must &c Drawn in Accord.
ance With Provisions Made
Before Election.

inaugural address:
My Fellow Citizens: Any one who
takes the oath I 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 a proper sense of the obi
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-
ton, SO far as they can be anticipated.
I have had the honor to be one of the
advisers of my distinguished prcdeces-
sor 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 I was
elected to office, if | did not make the
maintenance and enforcement of these
reforms a most important feature of
the administration. They were di-
rected to the suppression of the law
lessness and abuses of the power of
the great combinations of capital in
vested in railroads and in industl iial
enterprises carrying on interstate
commerce. The steps which my pred
ecessor took and the legislation pass
ed on his recommendation have ac-
complished much, have caused a
great halt in the vicious policies
which created popular alarm, and have
brought about, in the business affect
ed, a much higher regard for existing
law.
To render the reforms lasting, how
ever and to secure at the same time
reedom from alarm on the part Of
those pursuing proper and progressive
business methods, further legislative
M 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 proper federal
supervision and restriction to prevent
excessive issue of bonds and stock
by companies owning and operating
interstate commerce railroads.
Then, too, a reorganization of the
department of justice, of the bureau of
corporations in the department of
commerce and labor, and of the inter
state commerce commissnin, looking
to effective cooperation of these agen-
cies, is needed to secure a more rapid
and certain enforcement of the laws
affecting interstate railroads and in
dustrial combinations.
l hope to be able to submit to 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,
1t is believed that with the changes
to be recommended. American bust
ness can be assured of tina, measure
OF stability and certainty in respect
to these things that may be done and
those that are prohibited. which is
essential 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 economic
efflclency, at the same time differenti-
ating between combinations based up-
on legitimate economic reasons and
those formed with the intent of Great
ing monopolies and artiicially con-
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. believe that the amend
ments to be proposed are just as
necessary in the protection of leeit-
innate business as In the clinching OF
the reforms which properly bear the
name Of my predecessor.
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. I
shall call congress to 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 a manner as to afford to labor
and to all industries in this country,
whether Of the farm, mine or factory,
protection by tariff equal to the diff
ference between the cost of produc-
ton abroad and the cost of production
here, and have a provision which shall
put into force upon executive deter
mination Of certain facts, a higher or
maximum tariff against those coun-
tries whose trade policy toward us
equitabiy requires such discrimina-
ton. 1t is thought that there has
been such a change in conditions
since the enactment of the Dingley
act, drafted or a similarly protective
principle, that the measure Of the
tariff above stated will permit the re-
duction of rates in certain schedules
n will require the advancement of
few. if any.
The proposal to revise the tariff
made in such al authoritative way as
to lead the business community to
count upon 1t necessarily halts all
those branches of business directly
affected, and as these are most i'm
p%ortant, it disturbs the whole business
of the country. 1t is imperatively nee
essary. therefore, that a tariff bill be