The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1909-03-04
TAFT'S
INAUGURAL
ADDRESS
Outlines Policy :
Administration.
PRAISE FOR ROOSEVELT
usss~s VII stSSS~s s~ss
Speech Begins with Advocacy
Of Predecessors Reforms.
MANY QUESTIONS TOUCHED.
Incoming Presidents Ideas on
Trusts and Other Matters.
MANY QUESTIONS TOUCHED.
Incoming Presidents Ideas on
Trusts and Other Matters.

My Fellow Citizens-Any one who
takes the oath l have just taken must
feel a heavy weight of responsibility.
If not, he has no conception of the
powers and duties of the office upon
which he is about to enter or he is
lacking In proper sense of the obliga-
tion which the oath imposes.
The Office of an inaugural address is
to give a summary outline of the main
policies of the new administration SO
far as they can be anticipated. | have
had the honor to be one of the ad-
visers of my distinguished predecessor
and as such to hold up his hands in
the reforms he has initiated. | should
be untrue to myself, to my promises
and to the declarations of the party
platform upon which | was elected tC
office IL | did not make the mainte
nance and enforcement of those re
forms most important feature of my
administration. They were directed tC
the suppression of the lawlessness and
abuses of power of the great combina
tions of capital invested in railroads
and in industrial enterprises carrying
on interstate commerce. The steps
which my predecessor took and the
legislation passed on his recommenda
ton have accomplished much, have
caused general halt in the vicious
policies which created popular alarm
and have brought about in the bust
ness affected a much higher regard fol
existing law.
Further Action Needed.
To render the reforms lasting, how
ever, and to secure at the same time
freedom from alarm on the part ol
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 viii
be urged by me. On the other hand
the administration is pledged to legis
lation looking to a proper federal su
pervision and restriction to prevent ex
cessive issues of bonds and stocks by
companies owning and operating inter
state commerce railroads.
Then. too, a reorganization of the de
partment of justice, of the bureau OF
corporations in the department Of com
merce and labor and Of the interstate
commerce commission looking to effec
tive cooperation of these agencies l!
needed to secure more rapid and Ger
tain enforcement of the laws affect
ing interstate railroads and industria
combinations.
l hope to be able to submit at th'
first regular session of the incoming
congress In December next definite
suggestions In respect to the needed
amendments to the antitrust and th'
Interstate commerce law and th'
changes required In the executive de
ment.
"Good and Bad Trusts"
It is believed that with the changes
to be recommended American busi
ness can be assured of that measure o
stability and certainty In respect t.
those things that may be done ant
those that are prohibited. which i
essential to the life and growth o
all business. Such plan must Include
the right Of the people to avail them
selves of those methods of combining
capital and effort deemed necessary t
reach the highest degree of economi
efficiency, at the same time different
ating between combinations baset
upon legitimate economic reasons ant
those formed with the intent OF Great
ing monopolies and artificially control
ling prices.
The work of formulating into prac
tical shape such changes Is creativ
work Of the highest order and require
all the deliberation possible in the IL