Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1909-03-04
INAUGURATION ADDRESS
OF PRESIDENT TAFT
NEW CHIEF EXECUTIVE OUTLINES POLICIES
Definite Announcement That Extra Session of
Congress Will Be Called to Consider Tariff
Revision---Postal Savings Bank Is to Be
Pushed Other Recommendations.

above stated will permit the reduction
Of rates in certain schedules and will
require the advancement of few, il
any.
The proposal to revise the tariff
made in such an authoritative way as
20 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
sary, therefore, that tariff bill be
drawn in good faith in accordance
with promises made before the cleo.
ton by the party in power, and as
promptly passed as due consideration
will permit. 1t is not that the tariff
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,
is more immediate to avoid embar-
needed speed in the passage of the
tariff bill, it would seem wise to at.
tempt no other legislation at the ex,
ira session. l venture this as a sug
gestion only, for the course to be TAX,
en- by congress, upon the call of the
executive. is wholly within it's discre,
ton.
For Graduated inheritance Tax.
In the making of a tariff bill, the
prime motive is taxation, and the Sc
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 fiscal year will exceed the re
ceipts by $100000,000. 1t is impera
tive that such a deficit shall not con
tinue, 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 ii
be impossible to do so by import du
ties, new kinds of taxation must be
adopted, and among these l recon-
mend a graduated inheritance tax, as
correct in principle and as certain and
easy Of collection.
The obligation on the part Of those
responsible for the made tC
carry on the government, to be as eco
nomiCal as possible, and to make the
burden Of taxation as light as possible
is plain and should be affirmed in
every declaration of government pol
icy. This is especially true when we
are face to face with a heavy deficit
But when the desire to win the popu
lar approval leads to the cutting of
Of expenditures really needed to make
| the government effective, and to en-
| able it to accomplish its proper OBJ
| jects, the result is as much to be con
| demned as the waste of government
| funds in unnecessary expenditure. The
| scope OF modern government IL
what it can and ought to accomplish
| for its people has been widened ia
beyond the principles laid down b.
the old laissez faire school of politica
writer's, and this widening has me
popular approval.
In the department of agriculture, tn,
use of scientific experiments on
large scale, and the spread of informa
ton derived from them for the i'm
proyement of general agriculture, mus
go on.
The Importance of supervising bus
ness of great railways and indus
trial combinations, and the necessar
investigation and prosecution of III
lawful business methods, are anothe
necessary tax upon government whic
did not exist half century ago.
Necessary Expenditures.
The putting into force of laws whic
shall secure the conservation of gu
resources, so far as they may be will
in the jurisdiction of the federal GO
eminent, including the most impo
tant work of saving and restoring OF
forests, and the general improvement
of waterways, are all proper goverl
: ment functions which must involy
l large expenditure If properly pc
} formed. While some of them, like I'll
reclamation of arid lands, are mac
to pay for themselves, others are
such an indirect benefit that this ca
t not be expected of them. A perm
: nent improvement, like the Panam
canal, should be treated as a distin
! enterprise, and should be paid for /
r the proceeds of bonds, the issue
which will distribute its cost betwee
,, the present and future generations
: accordance with the benefits derive
). 1t may we'll be submittcd to the sci
n Gus consideration of congress wheth
d the deepening and control of the cha
@ mel of a great river system, like tn
l. of the Ohio or of the Mississippi, wht
e definite and practical plans for Il
d enterprise have been approved al
l. determined upon, should not be pr
s vided for in the same way.
e Then, too, there are expenditur
/, OF government absolutely necessary
l. our country is to maintain its prop
4 place among the nations of the worl