The Caucasian. (Clinton, N.C.) 188?-1913, 1909-03-11

FAvORS TARIFF REVISION

FAVORS TAkIFF REVISION
Necessary That Bill Be Drawn in
Good Faith In Accordance With
Party Promfses-Wiil Continue
the Reforms Inaugurated by Pres
iden. Roosevelt-Must Keep the
Promise of Postal Savings Banks.
His Position Toward the South.
Immediately following the admin
istration of the oath o. Office in the
Capitol at Washington Thursday.
President Taft delivered his inaug-
ural address, which was in part as
follows:
My Fellow Citizens ns:-Any one
who takes the oath / have just taken
must feel heavy weight of respon-
sibility. II not, he has no concep-
ton of the powers and duties of the
Office upon which he is about to en-
ter, or he Is lacking in a proper
sense of the obligation which the
oath imposes.
The Office of an inaugural address
is to give a summary outline of the
main policies of the new administra-
ton, so far as they can be anticipat-
ed. | have had the honor to be one
of the advicers of my distinguished
predecessor, and, as such, to hold up
his hands in the reforms he has ini-
tiated.
1 should be untrue to myself. to
my promises and to the declarations
of the party platform upon which 1
was elected to Office, if I did not
make the maintenance and enforce
ment of those reforms a most i'm
portant feature of my administra-
ton. They were directed to the sup
preston of the lawlessness and abus
es of power of the great combina-
tions of capital invested in railroads
and industrial enterprises carrying
on interstate commerce.
The steps which my predecessor
and the legislation passed on his
recommendation have accomplished
much, have caused a general halt in
the vicious policies which created
popular alarm, and have brought
about, in the business affected, a
much higher regard for existing law.
Some Needed Reforms.
To render the reforms lasting,
however, and to secure at the same
time freedom from alarm on the part
of those pursuing proper and pro-
gressive business methods, further
legislative and executive action are
needed. Relief of the railroads
from certain restrictions of the anti
trust law have been urged by my
predecessor and will be urged by me-
On the other hand, the admins
tration is pledged to legislation look
ing to a proper federal supervision
and restriction to prevent excessive
issue of bonds and stocks by COM
panies owning and operating inter-
state commerce railroads
Then, too, reorganization of the
department of justice, of the bureau
of corporations in the department of
commerce and labor, and of these
agencies, is needed to secure a more
rapid and certain enforcement of the
laws affecting 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 in
tcrstate commerce law, and changes
required in the executive department
concerned In their enforcement.
Safeguard All Legitimate Business.
1t is believed that with the changes
to be recommended American busi-
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 plan must in
clude the right of the people to avail
| themselves of those methods oi
| combining capital and effort deemed
necessary to reach the highest de-
gree of economic efficiency, at the
same time differentiating between
combinations based upon legitimate
economic reasons and those formed
with the intent of creating monopo
lies and artificially controlling
prices.
For Tariff Revision.
| A matter of most pressing import
ance is the revision of the tariff. II
accordance with the promises of the
platform upon which I was elected
l shall call Congress into extra ses
sion, to meet on the 18th day q
March, in order that consideration
may be at once given to a bill revis
ing the Dingley act.
| This should secure an adequat.
revenue and adjust the duties il
such a manner as to afford to labo
and to all industries in this country
whether of the farm, mine, or fac
tory, protection by tariff equal t,
the difference between the cost o
protection abroad and the cost o
production here, and have pro
vision which shall put into force
upon executive determination o
certain facts, higher or maximum
70 riff o0oipct those oornfr.,s ~ -r,