Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1909-03-19
Taft's Inaugural Address.

Taft's Inaugural Address.
We found the following brief edi-
torial Review of President Taft's in
augural address in the Sioux City
Journal, and as 1t gives a better pho
sograph Of the speech than any other
we have read we take the liberty to
borrow the article entire:.
President Taft's inaugural address,
according to his W definition, aims
to give "a summary outline OF the
main policies of the new ~administra-
ton, so far as they be anticipat-
ed" 1t Is short, frank, quiet, judi
cial, but withal vigorous and deter
mined. There Is nothing in it that
can not be traced back to the cam
paign speeches of Candidate Taft and
to the republican national platform.
AS the republican platform was given
the support Of the business interests
Of the country, President Taft, no
doubt, feels confident Of the same
support in his efforts to move ahead
with conservatism upon the lines
there laid down.
What are to be 1.-The main policies
of the new administration, so far as
they can be anticipated?" First, the
maintenance and enforcement OF the
reforms instituted under the Roose-
velt administration is to be "a most
important feature" of the new admin
istratiOn. The reference, of course,
is to the enforcement of ANTITRUST
and interstate commerce regulations.
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 progressive
business methods, further legislative
and executive action is needed. Re-
lief of the railroads from certain re-
strictionS of the antitrust law Will
be urged. On the other.hand the ad-
ministration will work for "a proper
federal supervision and restriction to
prevent excessive issues of sStockS and
bonds by companies owning land oper-
ating interstate commerce railroads"
Effort will be made also to secure a
reorganization of the department OF
justice, the bureau Of corporations
and the interstate commerce .commls-
sion, looking to effective cooperation
and more rapid and certain enforce
ment of laws affecting interstate rail-
roads and industrial corporations.
Definite recommendations along these
lines will be submitted at the opening
of the next session Of congress. The
purpose of the administration will be
ITO assure that measure Of stability
and certainty in respect to those
things that can be done and those
that are prohibited, which is essen
tial to the life and growth Of all bus
mess" The conservative, judicial
note is sounded in the statement that
''such a plan must include the right
Of people to avail themselves of those
methods of combining capital and ef-
fort deemed necessary to each the
highest degree of economic efficiency,
at the same time differentiating be-
tween combinations based upon legit-
innate economic reasons and those
formed with the intention Of creating
monopolies and controlling prices"
In accordance with the platform
pledge there is to be an extra session
Of congress to revise the tariff. The
schedules are to be readjusted to ut
the measure of adequate protection,
as defined in the platform. and to ap-
ply the maximum and minimum prin-
ciple. President Taft thinks circum-
stances "will permit the reduction of
rates in certain schedules, and will
require the advancement of few, II
any" In the interest Of waiting
business it is declared to be ''impera-
lively necessary that a tariff will be
drawn in good faith, in accordance
with promises made before election
by the party in power, and as prompt
ly passed as due consideration will
permit" The suggestion is yentured
that none but revenue legislation be
attempted at the extra session. Adj
dftional revenues are needed. If they
can not be provided by the tariff new
kinds Of taxation must be adopted.
In this relation the president recon-
mends a graduated inheritance tax as
correct in principle, and easy of COL
lection"
President Taft declares for economy
in administration, but not such econ
omy as would reduce the efficiency Of
the government below its present
broadened scope. President Taft
stands with President Roosevelt for
the conservation Of all natural re-
sources and the Development Of our