The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-02-14
TAFT's NEW YORK SPEECH.

President Tafts speech in New
York Saturday night clearly outlines
the administrators program of pro-
cedure in matters of great public in
terest and sets at rest just what stand
will be taken on questions concerning
the financial world and business gen.
orally. The speech is i'm the nature of
a message to the big financial and
industrial interests of the country;
also to the people inasmuch as the
Payne-Aldrich tariff bill is vigorously
defended, and other matters of m
terest to them are touched upon.
Many of the complaints over the
presidents supposed purpose to start
a general crusade against trusts and
combinations have come from New
York and it was appropriate that the
presidents response to these COM
plants should be answered in that
city. The speech was carefully pre-
pared and the thoroughness of the
treatment of each subject i'm it must
be apparent To- all who have read it.
While the speech will not afford COM
fort 10 illegal combinations of capt.
tai. there is nothing i'm il to make the
legitimate business combinations shiv-
er with fear; and as far as the tariff
law is concerned Mr.. Taft has pre-
assertion that it is the best tariff
measure ever devised, providing as it
does for "A considerable reduction i'm
duties and an increase of revenues
at the same time.
THE administration has been at
tackled on the ground that its policy
tends TO create "A panic in Wall Street"
said the president. "All / have to
say upon that is that nobody rcspon-
siblc for government like ours would
foolishly run amuck and destroy val
ues and confidence for the pleasure
of so doing. Nobody has a stronger
desire than the administration i'm
power To cultivate prosperity. But IL
rests with the national government To
enforce the law. If the enforcement
of the law is not consistent with the
present methods of business, il does
not speak well for the present methods
Of business. They must be changed to
conform to the law
II has been said that the repub-
lican party promised to amend the
law so as to limit the application of
the trust law i'm it's Introduction, to
the greatest corporations. find
nothing u the platform to justify such
a construction. The principle of the
antitrust law is the policy. Live and
let live" and that corporations shall
not use the bigness of their concerns
TO Brighten exclusive patronage from
customers and TO work the elimination
OF smaller concerns from competition
and thus control the output and fix
prices.
The attorney general has prepar-
ed a bill which l think offers means
for carrying on lawful interstate bus
mess under federal charter which,
while subiecting the concern TO the
closest scrutiny. will save II from
harassment by state authorities.
believe II would furnish a solution
Of the present difficulties. but. as II
was not specifically declared for In
the republican platform, ! don't feel
Justified In asking It's adoption as
party matter. I have brought u for
ward as a suggestion for meeting dif-
ficulties likely 10 be presented In the
prosecution OF suspected Illegal trusts
as a means by which they can take
their places among those engaged IN