The Vinita daily chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1902-1913, 1909-03-04
Mid Scenes That Beggar Description, With a
Blizzard Sweeping Over the Capital City,
the 26th President of the United
States, Together With the Vice
President, Jawes S. Sher-
man, Was InaugurGted

those pursuing proper and progressive
business methods, further legislative
and executive action are needed Re-
lief of the railroads from certain re-
strietions 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 legis-
lation looking to a proper federal sup
ervision and restriction to prevent ex-
cessive issues Of bonds and stocks by
companies owning and operating in
terstate commerce railroads.
Then too. a reorganization of the de-
partment of justice, Of the bureau Of
corporation in the department of com
merce and labor and of the interstate
commerce commission, looking to eff
fectiye cooperation of these agencies,
is needed to secure a more rapid and
certain enforcement of the laws affect
ing interstate railroads and industrial
combinations.
| hope to be able to submit. at 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 that measure
Of stability and certainty in respect
to those 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 econom-
ic efficiency, at the same time differ
entiating between combinations based
upon legitimate economic reasons and
those formed with the intent of Great
ing monopolies and artifically control
ing prices.
The work of formulating into pract-
ical 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 nee
essary in the protection of legitimate
business as in the clinching of the re-
forms 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 was elected,
shall cali 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 labor
and to all industries in this country, |
whether of the farm. mine or factory |
protection by tariff equal to the differ |
ence between the cost of production |
abroad and the cost of production here |
and have a provision which shall put |
into force upon executive determina- |
tion of certain facts, a higher or max
imum tariff against those countries |
whose trade policy toward us equit- |
ably requires such discrimination. II /
is thought that there has been such
a change in conditions since the enact
ment Of the Dingley act. drafted on a
similarly protective principle. that the
measure of the tariff stated will per
nit the reduction Of rates in certain
schedules and viii require the ad-
vancement of few. if any.
The proposal to revise the tariff
made in such an authoritative way as
to lead the business community to
count upon it, necessarily halts ali
those branches of business directly
affected. and as these are most inn
portant it disturbs the whole business
of the country It is imperatively
essaryl therefore. that a tariff bin be
drawn in good faith in accordance
with the promises made before the
election by the party n power. and
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