The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1909-03-05
INAUGURATION ADDRESS
OF PRESIDENT TAFT
NEW CHIEF EXECUTIVE OUTLINES POLICIES
Definite Announcement That Extra Session of
Congress Will Be Called to Consider Tariff
Revision 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, 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 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 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
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,
is more immediate to avoid embar-
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-
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 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 $1OO,000,0OO 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 it
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 expenditures made to
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 off
of expenditures really needed to make
the government effective, and to en-
able it to accomplish it's proper OBJ
jects, the result is as much to be con-
demned as the waste of government
funds in unnecessary expenditure. The
scope of a modern government in
what it can and ought to accomplish
for it's people has been widened far
beyond the principles laid down by
the old laissez faire school of political
writer's, and this widening has met
popular approval.
In the department of agriculture, the
use of scientific experiments on a
large scale, and the spread of informa-
ton derived from them for the i'm
provement of general agriculture, must
go on.
The Importance of supervising bust
ness of great railways and indus
trial combinations, and the necessary
investigation and prosecution of I'M
lawful business methods, are another
necessary tax upon government which
did not exist half century ago.
Necessary Expenditures.
The putting into force of laws which
shall secure the conservation of our
resources, so far as they may be with
in the jurisdiction of the federal gov
eminent, including the most impor-
tant work of saving and restoring our
forests, and the general Improvement
of waterways, are all proper govern
ment functions which must involve
large expenditure if properly per-
formed. While some of them, like the
reclamation of arid lands, are made
to pay for themselves, others are of
such an indirect benefit that this can
not be expected of them. A perma-
nent improvement, like the Panama
canal, should be treated as a distinct
enterprise, and should be paid for by
the proceeds of bonds, the issue of
which will distribute it's cost between
the present and future generations in
accordance with the benefits derived.
1t may we'll be submitted to the seri-
Gus consideration of congress whether
the deepening and control of the chan
mel of a great river system, like that
of the Ohio or of the Mississippi, when
definite and practical plans for the
enterprise have been approved and
determined upon, should not be pro-
vided for in the same way.
Then, too, there are expenditures
of government absolutely necessary if
our country is to maintain its proper
place among the nations of the world,