Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1909-03-05
lBy Morning Journal special L.assl wir,

Tafts inaugural address, which was
delivered In the senate chamber in
abbreviated form. was given to the
wspapcrs in full. Following is the
text OF the address,
My Fellow Citizens:
Any one who has taken the oHth !
have just taken must feel heavy
weight OF responsibility. II 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 obligation which
the oath imposes
Tho office of an inaugural address
Is to give summary outline of the
main policies Of the new administra-
ton. SO far as they may be antcipa-
ted. | have had the honor TO be one
! OF the advisers OF my distinguished ID
predecessor. and as such, to hold up
the hands In the reforms he has in
itiated 1 should be untrue to my
self to my promises and to the dec
| laratlons of the party platform upon
| which | was elected TO office II | did
not make the maintenance and en-
! forccment of those ~ forms most
| important feature Of my ndminstra-
| ton. They were directed to the sup-
preston OF the lawlossnosa and abus-
cs of power OF the great comhin-
ations OF capital Invested In railroads
ana in industrial enterprises carrying
on Interstate commerce The steps
| which my predecessor took and tht
! legislation passed on his recommcn-
dation have accomplished much,
| have caused halt IN the vicious
! policies which created popular alarm,
and have brought about In the bnsi-
! ness affected, much higher regard
for existing law,
To render The reforms lasting,
however. and to secure at the same
| tinlC Freedom stropl alarm ON thr pnrt
lp.' tN aG pls8 ,iils ptfufff shA An-
grcssive business methods, farther
Legislative and executive actlnn arc
needed Relief Of tho railroads from
certain restrictions OF tho antitrust
laws have been urged by my ,prode-
ccssor. and VIII he urged by me ON
the other hand, the administration is
pledged 10 legislation looking To Il
proper federal supervision and re-
striction to prevent excessive issues
of bonds and stocks by companies
owning and operating interstate
commerce railroads
Then too. a reorganization Of the
department of Justice, OF tho bu-
reau OF corporations and the depart
ment Of commerce aud labor, ana
OF the interstate commerce commis
sion, looking to effective co-opcra-
tiun Of these agencies, rs needed TO
secure more rapid and certain en-
forccmcnt of the laws affecting IN
tcrstnte railroads and Industrial COM
binations
| hope to be able to submit at the
first regular session of the Incoming
congress, in December next, definite
.t.tfI
to the antitrust and the
Interstate commerce law, ana the
changes required In the executive de-
partmcnts concerned In their en- |
forccment.
II Is believed that with the changes |
to be- recommended, American bust !
ness can be assured of that measuse /,
Of stability and certainty In Respect /
TO those things that may be done /
ana those that are prohibited which |
Is essential to the life and growth OF !
all business Such plan must IN
cludc the right of the peo- |
pie to avail themselves Of those meth
ods Of combining capital and effort
deemed necessary 20 reach the high
est degree of economic efficiency. al
the same timc differcntiating be-
tween combinations based upon le-
gltimate economic reasons and those
formed with the intent Of creating
and artiflcinlly control
ling prices.
The work of formulating into prac-
tical shape such changes IS creative
work Of the highest order, and re-
nuires all the dollborntion possible In
the interval. 7 believe that the amend
mcnts TO be proposed are lust as nee
cssary in tho protection of legitimate
business as I'm the cinching Of the re-
forms which properly bear the name
Of my predecessor.
matter of most pressing import
nncp Is tho revision Of the tariff, In
accordance with the promises Of the
platform upon which ! was elected.
shall call congress into extra session
TO meet on the 18th day of March
in order that consideration may be az
)ncc given 70 hill revising the Ding
ley act This should secure an adc-
luate revenue and adjust the duties I
IN such y manner as 20 afford to labor
and to al industries of this country,
whether uf thr farm. mine or factory
by tariff equal to the diff
'ercnco between the cost Of produc- I
ion abroad aud tho cost nt produc-i
ion here and haNc a prov ision which
ihall put into force. upon executive
of certain fncts. high-
countries whose trade policy toward
- cquitablS requires such discrimin
'tion II Is thought that there has I
,ern such change In conditions :
'incc tho enactment of the DinsieY
Ict drafted on similarly protective (
,rinciple. that tho measure OF the tar Z
ff above stated will permit the rc-
iuction Of rates In certain schedules ]
md will require the advancement of .
ew. if any.
The proposal To revise the tariff +
made In such an authoritative way /
Is To lead the business community to
'ounty upon u necessarily. halts all |
hose branches of business, directly az
ccted, and as these are most import
mt. Il disturhs the whole business OF
NJ country. II is imperativelN neces- u
'art. therefore, that tariff shall be