Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-02-14
That Is PreSt. Taft's Answer to
Wall Street and Its
Cry of Panic.
DEFENDS THE TARIFF BILL.
IT, Substantially Complies With the
Party Pladgc for Tariff
Regulation.

Now York, Feb Eff the en-
forcement OF the law is not consistent
with the present method OF carrying on
business then il does not speak well
for the present methods OF conducting
business and they must be changed 10
conform TO the law"
This was President Taft's answer TO
Wall street and its cry of panic"
1t WAS made to n cheering audience
composed OF hundreds of Republicans
gathered tonight at the annual LIN
coin day dinner Of the Republican club
of ,this-city at the Waldorf Astoria
MI. Taft adhered to his purpose of
discussing platform pledges and how
they should be kept,
IL was at the conclusion OF de-
tnlled argument as to how the Repub-
lcan party is redecmlng its pledges
that he came to a discussion of the
antitrust law and Wall street, on
which his utterances had been awaited
with greatest Interest.
The president decalred that the ad-
minlstratlon would not foolishly run
amuck in business and destroy values
and confidence just for the pleasure of
doing So
mo one" he continued has .hc
motive as strong as the administration
in power to cultivate and strengthen
business confidence and prosperity. But
there was no promise on the part of
the Republican party to change tho
antl-trust law except to strengthen II.
or course, the government at Wash
5ngton can be counted on to enforce
the law in the best way calculated To
prevent a destruction of public conf
dcnce In business, but that 1t must
enforce the law goes without saying"
President Taft did not hesitato 10
discuss the attacks that have been
made upon the administration and the
party OF danger to future success In
the insurgent movement and other dis
sensions
Republicans who feared defeat at the
polls in November. he declared, how
ever. should take courage from the de-
morahzcd condition of their opponents.
the Democrats.
"It was Grant" said the president,
"who banishcd his own fear in battle
by thinking how much more afraid the
enemy was"
Mr. Taft again came to the defense
OF the Payne-Aldrich tariff bill. He
did not hesitate. he said, to repeat that
IT substantially complied with the
party pledge for tariff regulation, and
that. through this bill. the party had
''set itself strongly in the right dlroc-
ton, toward lower tariffs"
Reviewing the party platform, the
president spoke OF postal savings
banks. amendments to the interstate
commerce law. the anti-injunction
plank, statehood for Arizonn and New
Mexicd. and the conservation of na-
tuIal resources, bills to carry all of
which promises into effect. we're pend
ing In Congress and he believed would
be passed.
PRESIDENT TAFT'S ADDRESS.
President Taft said in part:
Mr.. President Gentlemen of the Re
publican Club and Fellow Guests-The
birthday OF the man whose memory
Ne celebrate tonight Is an appropriate
occasion for renewing our expressions
OF respect and affection for the Re
publican party. and our pledges to
keep the part which 1t plays In the
history Of this country as high and as
useful as II was during the admins
tration OF Abraham Lincoln.
Tho trials which he had To under go
rs president. the political storms which
the party had to weather during the
Civil war; the divisions In the party It
self between the radical and anti-slav-
cry element and those who were most
conservative in observing the constitu-
tlonal limitations, are most interesting
1edulnS ana serve 10 QNdfl anu
mize the trials through which the Re-
publican party is now passing and re-
store a sense OF proportion to those
who allow themselves to be daunte0
and discouraged In the face of loss
OF popular confidence thought to be In
dicated by the tone of the press.
In what respect has the Republican
party failed in it's conduct OF the gov
crnment and the enactment of laws
10 perform its duty? IT was returned
10 power a year ago last November by
a very large majority, after cam
paign In which IT made certain promises
in its platform, and those promises II
has either substantially complied with
or II is about to perform within the
present session of Congress.
REPUBLICAN PROMISES.
Let US take up these promises in
order
In tho Republican platform of last
year upon which the campaign was
made appears the following plank In
regard to the tariff:
The Republican party declares un-
eouivocally for the revision of the tariff
by special session of Congress imme
diatcly following the Inauguration OF
the next president, and commends the
steps already taken to this end in the
work assigned TO the appropriate COM
mittecs OF Congress which are now In
vestigatlng the operation and effect OF
existing schedules. In all tariff legisla
ton the true principle of protection Is
best maintained by the imposition OF
such duties as will equal the difference
between the cost Of production at home
and abroad. together with reasonable
proht TO American Industries. We
favor the establishment Of maximum
and minimum rates to he administered
by the president under limitations fixed
IN the law the maximum to be avail
able To meet determinations by for
cign countries against American goods
entering their markets and the mini
mum To represent the normal measure
OF protection at home. the aim and pur-
pose of the Republican policy being not
only To preserve. without excessive du-
tcs that security against foreign com
position to which American manufac-
'rrers' farmers and producers are en-