Omaha daily bee., 1910-02-13
AUDIENCE CHEERS UTTERANcE
President Makes Address to Repub-
lioan Club of New York.
AMENDING AUTO TRUST Law
No Platform Promise Made Except
to Strengthen 1t.
TARIFF LAW IS DEFENDED
Executive shows that II Reduced
Rates Except ON LuxurIeS, and
that IL Produces More
Revenue.

NEW YORK, Feb. Eft the enforce
mont OF the law is not consistent with tho
present method of carrying on business.
then It does not speak well for the present
methods of conducting business ana they
must be changed to confirm to the law"
This was President Tafts answer TO
wyyyyyyyyc cccc5ccccccc Wall hh
Wall Street and its cry OF "panlc." II was
made to a cheering audience Of hundreds
of prominent republicans gathered tonight
at the annual Lincoln Day dinner of the
republican club of this city, held at the
Waldorf Astoria Governor Hughes shared
the honors of the evening" with the presi-
dent
Mr. Taft adhered to his purpose Of dis
cussing platform pledges and how they
should be kept. II was at the conclusion of
a detailed argument as to how the republi-
can paryt is redeeming its pledges that he
came to discussion OF the antitrust law
and Wall Street, on which his utterances
had been awaited with the greatest in
terest. The president declared that the ad-
mlnistration would not "foolishly run
amuck in business and destroy values and
confidence just for the pleasure OF
doing so"
mo one" he continued, has motive as
strong as the administration in power, to
cultivate and strengthen business confi-
dence and prosperity.
'Dut there was no promise on the part
of the republican party to change the anti
trust law except to strengthen 1t, OF
course, the government at Washington can
be counted on to enforce the law In tho
way best calculated to strengthen public
confidence in business but Il must enforce
the law goes without saying"
President Tnfts Address.
President Taft said:
"Mr. President Gentlemen of the Repub-
lican Club and Fellow Guests The BIRTH
day of the man whose memory we cele-
brate tonight is an appropriate occasion
for renewing our EXPIRE ssions of respect and
affection for the republican party, and
our pledges to Keep the part which II
plays in the history ot this country as
high and as useful as It was during the
administration of Abraham Lincoln. The
trials which he had to undergo as presi-
dent, the political storms which the party
had to weather during the civil war, the
divisions in the party itself between the
radical anti-slavery element and those who
were most conserv ative in observing the con-
stltutional limitations are most interesting
reading and serve to dwarf and minimize
the trials through which the republican
party is now passing and restore sense
of proportion TO those who allow them
selves to be daunted and discouraged, in
the face of a loss of popular confidence
thought to be indicated by the tone OF the
press
In what respect has the republican
party failed in its conduct of the govern
ment and the enactment OF laws to per-
form it's duty? 1t was returned TO power
year ago last November by very large
majority after a campaign in which it
made certain promises in its platform and
those promises It has either substantially
complied with, or It is about TO perform
within the present session of congress.
Promises in Platform.
Let us take up these promises in order:
I'm the republican platform of last year
upon which the campaign was made ap-
pears the following plank in regard TO the
tariff:
1.-The republican party declares uneaul-
vocally for the revision of the tariff by a
special session of congress Immediately
following the Inauguration Of the next
president and commends the steps already
taken to this end in the work assigned to
the appropriate committees of congress
which are now investigating the operation
and effect OF existing schedules.
In all tariff legislation the true prin-
I Rcipal of protection is best maintained BY
the imposition OF such duties as will equal
the difference between the cost Of produc-
tion at home and abroad together with a
reasonable profit TO American industries
We favor the establishment OF maximum
and minimum rates to be administered by
the president under limitations fixed in the
law. the maximum to be available TO meet
! determinations by foreign countries against
American goods entering their markets and
the minimum TO represent the normal meas
ure of protection at home, the aim and pur-
pose of the republican policy being not only
to preserve, without excessive duties, that
security against foreign competition 70
which American manufacturers. farmers
and producers are entitled, but also TO
maintain the high standard Of living OF the
wage earners OF this country, who are the
most direct beneflciaries OF the protective
system. Between the United States and the
Philippines we believe In free interchange
Of products with such limitations as to
sugar and tobacco as will afford adequate
, protection to domestic interests
I'VE did revise the tariff. II Is impossible
to revise the tariff without awakening the
active participation in tho formation OF the
schedules OF those producers whose busl-
ness will be affected by a change This Is
the inherent difficulty In the adoption or
revision Of tariff by our representative
system.
Tariff Revised Downward.
Nothing was expressly said IN the plat
! form that this revision was to be down
ward revision The implication that II
was to be generally downward, however.
was fairly given by the fact that those
who upheld a protective tariff system de-
fend Il by the claim that after an industry
has been established by shutting OUT for
eign competition, the domestic competition
viii lead to the reduction in price 30 as
to make the original high tariff unneces-
sary.
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