The Topeka state journal., 1909-03-04
|SEES BOTH GOOD AND BAD TRUSTS
And Indicates How Each Kind Is to
Be Dealt With.
He Promises Some Definite Suggestions
When the Next Congress Meets.

! of corporations in the department of
| commerce and labor, and of the In
| terstate Commerce commission, look
| ing 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.
Definite Plan Promised.
I hope to be able to submit, at tho
| 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 busi-
ness can be assured of that measure
i of stability and certainty in respect to
| those things that may be done and
| those that are prohibited, which is es-
sental 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 econo-
mic efficiency, at the same time diff
! ferentiating between combinations
| based upon legitimate economic reas-
ons and those formed with the intent
of creating monopolies and artificially
controlling price.
Amendments Needed.
( 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 L believe that tho
amendments to be proposed are lust
| as necessary in the protection of legi-
| innate business as in the clinching of
the reforms which properly bear the
name of my predecessor.
A matter OF most pressing fmpor-
tance is the revision of the tariff In
accordance with the promises of the
platform upon which 1 was elected L
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 Ding
ley act. This should secure an ade-
quate revenue and adjust the duties
in such manner as to afford TO la
Dor and to all industries in this coun-
try, whether of the farm, mine or fac
tory, protection by tariff equal to the
difference between the cost of produc-
ton abroad and the cost of produc-
ton here, and have a provision which
shall put into force, upon executive
determination of certain facts, a high
er or maximum tariff against those
countries whose trade policy toward
US equitably requires such discrimfna-
ton. 1t is thought that there has been
such a change in conditions since the
enactment of the Dingley act drafted
on a similarly protective principle,
that the measure of the tariff above
stated will permit the reduction of
rates in certain schedules and will re-
quire the advancement of few if any
Tariff Revision.
The proposal to revise the tariff
made in such an authoritative way al
to lead the business community TO
count upon it, necessarily halts all
those branches of business directly af-
fected, and as these are most impor-
tant, it disturbs the whole business of
the country. 1t is imperatively neces-
Sary therefore, that a tariff bill be
drawn in good faith in accordance
ton by the party in power. and as
promptly passed as due consideration
will permit. 1t is not that the tariff
is more important in the long run than
the perfecting of the reforms in re-
spect to antitrust legislation and in
terstate commerce regulation, but the
need for action when the revision Of
the tariff has been determined upon,
rassment of business. To secure the
needed speed in the passage Of the
tariff bill, it would seem wise TO at
tempt no other legislation at the ex-
gestion only, for the course to be TAX
en- by congress. upon the call of the
executive, is wholly within its dis
cretion.
Tariff for Revenue.
In the making of a tariff bill. the
curing thereby of a revenue. Due
largely to the business depression
which followed the financial panic OF
1907, the revenue from customs and
other sources has decreased to such an
extent that the expenditures for the
current year will exceed the receipts by
$100,000,000. 1t is imperative that such
a deficit shall not continue, and the
trainers of the tariff bill must of course
have in mind the total revenues likely
to be produced 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 tax
alton must be adopted, and among
these / recommend graduated in
heritance tax, as correct in principle
and as certain and easy of collection.
Economy Duty
The obligation on the part Of those
responsible for the expenditures mads
to carry on the government, to be as
economical as possible, and to make
the burden OF taxation as light as pos