Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-09-29

duStrlal corporations on the ground that
their reformation was being brought
about steadily and satisfactorily and that
nothing was to be gained by vindictive
hostility
Declaims Against Prejudice.
Mr. Taft repeatedly acclaimed against
sectional prejudice and unreasonable de-
nunciation of corporations by persons
seeking political advantage.
Let us reason together" exclaimed the
President. Let us be charitable and
kind. Let us not be suspicious and
ascribe corrupt motives to every one in
and political associates Let us have leg
islation that helps or an absence of leg
islation if it be unnecessary.
Let us approve and praise the great
business enterprise and genius that hon
estly and by proper methods accumulates
! property and puts 1t into productive in
dustries that supports thousands of work.
men and furnishes profit to those whose
savings have gone into the shares and
bonds of the enterprise"
Speech in Four Divisions.
parts. In respect to the regulation of
the railroads, he said much had been ac-
complishei and much more would be.
Tie tHcH lOOh up lIt u uSlS anu dSdiii
declared for the principle of competition.
On the tariff question he reiterated what
he has said to the effect that he would
not destroy business by approving a re-
| vision made in an unscientific way. In
regard to the currency question he said
| we had very lame system and approved
| IL general the so-called Aldrich plan.
| After discussing all of these points in
detail, he made his appeal for a shoulder
| to-shoulder movement by the people in all
parts of the country to promote business
prosperity and for legislation that will
| help toward this end or no legislation at
| all.
The telling points in the address We're
heartily cheered by a large crowd, who
stood in the rain to hear him.
Opening his address, Mr. Taft said:
| There are four most important points
at which the policies CT Congress and the
| federal executive touch the business OF
this country in such vital way that the
people are entitled to have the greatest
| care, industry and application character
| iZe governmental action in respect to
them. They are, first, in respect of inter
state commerce and the regulation OF
railroads and the rates of transportation
between the states; second. in the en-
| forcement of the laws forbdding comDi-
ma tons to monopoliZe interstate trade in
Industrial companies; third. in the
amendment of tariff legislation affecting
chiefly the manufacturers Of the country.
4
use of the business of the country prop
err banking and currency system which
shall automatically give an elastic cur
rency, expanding and contracting ac-
| cording to the business methods. and in
spring a confidence in the business COM
munity which shall prevent panics.
Regulation of Railroads.
| In respect to the regulation of railroads
and the prompt remedy of unreasonable
and unduly discriminating rates, MIR. Taft
said the country had progressed far to-
ward satisfactory solution. He explain
I ed the increased power given TO the inter-
state commerce commission to regulate
rates and outlined various recommends
! tions made to Congress, summing up as
| follows:
Il think il is now generally conceded
by those who understand the operation of
the present law that the repu!ative power
| of the interstate commerce commission is
sufficiently great to remedy generally the
| njustices to shippers which gave rise to
the demand for legislation. Except the
! Introduction of limitation as to the
power of issuing stocks and bonds, l do
! not think it wise to add to the present
statutes.
Supervision of Corporations.
/ With regard TO trusts Mr.. Taft sa d.
! after touching upon the Supreme Court
! decision and its significance:
Whether will be possible to secure
| national incorporation act for the closer
| supervision of those corporations engaged
| in interstate trade, and for their greater
security when they pursue business in ac-
| cordance with law, ! am unable to say
because the constitutional views of the
present majority in the lower house are
presumably against the increase of the
federal function with respect to corpora
tions. Be that as it may. the business
community now knows. or ought to know
where it stands. The court declines to
hold that competition is impossible under
modern business conditions. but 1t insists