Daily press. [volume] (Newport News, Va.) 1896-current, 1910-02-13
De CIARES NO DANGER
OF RUNNING AMUCk
Taft Assures Wall Street That the
Administration Will Not Destroy
Values and Confidence But Statutes
viii be Enforced-Defends Tariff
and His Party.
lRy Associated Press.J

NEW YORK, Feb. 12.-'lf the en-
forcement of the law is not consistent
with the present method cf carrying
on business, then it does not speak
well for the present methods of con-
dacting business and they must De
changed L conform to the law
This was President Tafts answer
10 Wall street and its cry of panic.
Ii was made to cheering audience OF
hundreds of prominent Republicans
gathered tonight at the annual Lin
ccin Day dinner of the Republican
club OF this city, held at the Waldorf
Astoria. Governor Hughes shared
the honors of the evening with the
President.
1t was at the conclusion of a de-
tailed argument as to how the Re-
publican party is redeeming its
pledges that the President came to a
discussion of the antitrust law and
Wall street. On which his utterances
had been awaited with the greatest
interest.
The President declared that the adj
ministration would not "follishly run
amuck in business and destroy values
and confidence just for the pleasure
OF doing So"
He declared that the administration
can te counted en- to enforce the law
in the way best calculated 10 prevent
a destruction of public confidence in
business. but that i; must enforce the
law gees without saying"
Compares Task With lincoln's
The President after referring to
che occasion as an opportune time
TO renew the pledges of the Repub-
lican party to keep it's part in the
country's history as high and useful
as It was during the administration
of Abraham Lincoln. alluded to pres
ent trials of the party as compared
to the trials OF Lincoln's time as
small indeed. He then launched i'm
mediateiy into the defense of the
tariff bill. quoting first the Republi-
can platform OF the Chicago conven-
ton Of 1908. in which revision was
promised.
I'VE did revise the tariff" said the
President Nothing was expressly
said in the platform that this was to
be a downward revision. II was not
downward with reference to silks or
LIQUORS or high priced cottons in the
nature OF Injuries. u was downward
In respect to nearly all other articles
& xcept woolens. which were not af-
fected at all.
Concerning the criticism OF the
tariff bill the President referred TO
the reduction on print paper and said:
The failure to make a larger re-
duction showed itself clearly in the
editorial columns Of a great number
of newspapers. whatever their party
predelicition. The amount of misrep-
to which the tariff bill.
in its effect as a downward revision
! as subjected. has never been ex-
rceded in this country and IL viii
take the actual operation
cf the tariff bill for several years
to shoS TO the country exactly
Mr. Taft then quoted statistics
from the government bureau on the
results o. the six moths OF the
operation q the Aldrich-Payne bill
lie showed that the average rate o:
duty paid on all dutiabie imports for
that period was 21.Oe per cent ad
Tslorrm as compared with the aver
age for the sane months under the
Dinghy law In the previous four
years Of .24l0s. thas Showing a reduc.
ton Under the new law Of 29s per
cent % the value Of the goods and
: reduction below the previcus tarin
rates Of y per cent on dutiable
kcods
Referring TO the premise q the
party for conservation % natural TO-
sources he declared that The river
and harbor bill Just reported had
been framed with q view 70 comply
ing with the party's pledges.
Psrty's Pledge or Trusts
On TIE subject 81 trusts and the
party's pledge IN th3t regard. Prczi-
dent Taft related how. since the
platform vas adopted. prosecutions q:
the tobacco trust and the Standard
oil trust bad gouc on ard had 70.
suited IN decrease IN the eonrt 81
appeals % the second and eighth ctr.