The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1910-02-24
TAFT'S WARNING
TO Wall STREET

NEW YORK, February 12.-Presi-
dent Taft gave a pointed and telling
answer to Wall Streets cry of panic
tonight in his Lincoln Day speech at
the annual dinner of the Republican
Club of this city, at the Waldorf AS
toria. To cheering audience of hun.
dreds of prominent Republicans he
said:
'If the enforcement of the law is
not consistent with the present
method of carrying on business, then
it does not speak we'll for the present
methods of conducting business and
they must be changed to conform to
the law"
Mr.. Taft adhered to his purpose OF
discussing platform pledges and how
they should be kept It was at the
conclusion of a detailed argument as
to how the Republican party is re-
deeming its pledges that he came to
a discussion of the antitrust law and
Wall street, on which his utterance
had been awaited with greatest inter
est.
WON'T RUN AMUCK.
The President declared that the ad-
ministration would not foolishly run
amuck in business and destroy values
and confidence just for the pleasure
of doing So"
mo one," he continued, has the
motive as strong as the administra'
ton in power to cultivate and
strengthen business confidence and
prosperity. But there was no promise
on the part of the Republican party
to change the antitrust law except to
strengthen it. Of course the govern.
ment at Washington can be counted
On to enforce the law in the best way
calculated to prevent a destruction OF
public confidence in business, but
that it must enforce the law goes
without saying"
President Taft did not hesitate to
discuss the attacks that have been
made upon the administration and
the party or danger 10 future success
in the insurgent movement and other
dissensions.
NoPEs FOR VICTORY.
Republicans who feared defeat at
the polls in November, he declared,
however, should take courage from
the demoralized condition of their
opponents, the Democrats.
ut was Grant" said the President,
who banished his own rear 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 direc-
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 Arizona and New
Mexico, and the conservation of ma
tural resources, bills to carry all Of
which promises into effect were pend
ing in Congress, and he believed
would be passed.
LAYS DOWN PRINCIPLES.
It was upon the corporation policy
however that the President laid the
greatest stress. In the discussion of
these measures the Presidents face
lost that genial smile that generally
characterizes it, and his expression
became flinty and hard, possibly in
the recollection of the pleadings and
threatenings which reach him daily
as to what will happen if he pursues
the policy he has laid down. Where
fore, he seized upon the occasion to
announce once more-as he declered
recently-that he has not changed
his mind. He said. in part:
"In what respect has the Republi-
can party failed in its conduct of the
Government and the enactment OF
laws to perform it's duty? 1t was re-
turned to power over a year ago last
November by large majority, after
a campaign in which it made certain
promises in it's platform. Those prom
ises it has either substantially com
piled with or it is about to perform
within the present session of Con
gress.
AGAIN DEFENDS TARIFF.
''In the Republican platform Of last
1T