East Oregonian : E.O. (Pendleton, OR) 1888-current, 1909-03-04

commerce. The steps which my pre-
decessor took and the legislation pass
ed on his recommendation have ac-
complished much, have caused gen.
eral halt in the vicious policies which
created popular alarm, and have
brought about, in the business effect
ed, a much higher regard for exist
ing law.
Will Regulate Railroads.
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 are needed. Re-
lief of the railroads from certain re-
strictions 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
legislation looking to a proper feder-
al supervision and restriction to pre-
vent excessive issue of bonds and
stocks by companies owning and op-
Grating interstate commerce railroads.
Then, too, a reorganization of the
Department of Justice, of the Bureau
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.
l hope to be able to submit, at the
regular session of the incoming Con-
gress, in December next, definite sug-
gestions in respect to the needed
to the antitrust and the
interstate commerce law, and the
required in the executive de-
partments concerned in their enforce
ment
RcasSIIres Business.
II is believed that with changes to
be recommended, American business
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 es-
sential to the life and growth of all
business. Such plan must include the
right of the people to avail themsel-
yes of those methods of combining
capital and effort deemed necessary TO
reach the highest degree of economic
efficiency. at the same time different
iating between combinations based
upon legitimate economic reasons and
those formed with the intent of Great
ing monopolies and art,ficially con-
trolling prices.
The work of formulating into pract-
ical shape such changes is creative
work of the highest order, and requires
all the deliberation possible in the
interval, l 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
reforms which properly bear the name
of my predecessor.
Tariff Revision Imperative.
A matter of most pressing impor-
tance is the revision of the tariff. In
accordance with the promises of the
platform upon which 1 was elected, I
shall call congress into extra session
to meet on the 18th day Of March. in
order that consideration may be at
once given to a bill revising the
Dingley Act This should secure an
adequate revenue and adjust the duties
in such a 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 diff
ference between the cost Of produc-
tion abroad and the cost of production
here. and have a provision which shall
put into force, upon executive deter
mination of certain facts a higher or
maximum tariff against those count
ries whose trade policy toward us
equitably requires such discrimina-
ton. 1t is thought that there has
been such a change in conditions since