The Topeka state journal., 1911-09-29

there be good business in one section
and that prosperity will quickly spread.
Let US reason together" said the
president Let us be charitable and
kind. Let US not be suspicious and
aScribe corrupt motives 20 everyone in
the community but our particular
friends and political associates. Let
US have legislation that helps or an
absence of legislation if it be unneces-
Sary. And let us approve and praise
The great business enterprise and genius
that honestly ana by proper methods
accumulates property and puts it INTO
productive industries that supports
thousands of worlxmer and furnishes
profit to those whose savings have
some into the shares and bonds of the
enterprise
Restoration of Confidence.
Business is haIting now. There IS
due to a fear of blind enmity toward
successful enterprise. What is the
remedy? 1t is the restoration of con-
fidence between the persons who have
been opposing each other in times past
who now, after the reforms are in
itiated and are in process Of being ef-
fected, ought to come together in
amity and make the best use of the
enormous resources we have in this
country for the promotion of general
prosperity and the securing and en-
couragement of individual happiness"
Mr.. Taft said he had heard from men
engaged in business the severest critf-
cism of the antitrust law. Their posi-
ton, he declared, could not be sup
ported.
They seem to think he continued,
that there ought to be some measure
making legal the control of competition
and limited monopoly. some statute en-
acted which shall establish line be-
tween those monopolies that are rea-
sonable and those that are not. And
no such line is possible and the su-
preme court has expressly so decided"
The president said he had seen argu-
ments based upon the attitude of for
eign governments in fondling and pro-
tecting monopolies. No such policy was
possible in this country, he declared,
and added that if competition was to
disappear, state socialism must come
because the government might better
control monopoly than private COM
pany.
Thousands stood in Rain.
Mr.. Taft spoke in the public park
here. after a hard rain which lasted
practically the entire day A crowd OF
several thousand listened and ap-
plauded vigorously when he concluded.
The Presidents Speech.
The presidents speech follows:
My Fellow Citizens: / wish to invite
your attention to the relation of the
Federal Government and the Federal
statutes to the business of this coun-
try, its legality and its prosperity.
There are four most important points
at which the policies of congress and
the Federal Executive touch the busi-
ness of this country in such vital way
that the people are entitled to have the
greatest care, industry, and application
characterize governmental action IN
respect to them. They are, first, In re-
spect of interstate commerce and the
regulation of railroads and the rates
of transportation between the states;
second in the enforceme ent of the laws
forbidding combinations to mOnOpolize
interstate trade in industrial compan-
les; third, in the amendment OF fariH
legislation affecting chiefly the manu-
factures of the country; and, fourth,
in the furnishing for the use of busi-
ness of the country a proper banking
and currency system which shall auto
matically give an elastic currency, eX-
panding and contracting according to
the business methods. and inspiring
a confidence in the business commu-
nifty which shall prevent panics
First In respect to the regulation
of railroads and the prompt rem edy-
ing of unreasonable and unduly dis.
rates, we have progressed
far toward a satisfactory solution In
the last administration the power was
given to the Interstate Commerce
Commission to fix railway rates, 1t
having been decided that the functions
Of the Interstate Commerce COmmiS-
sion. then conferred went only so far
as TO find that a rate was unreason-
able but did rot include the power of
fixing a reasonable rate When the
first regular session of congress met in
my administration I urged upon con
gress the necessity for further legisla-
ton looking to more complete con-
troll and regulation of railways in re-
spect to rates than had heretofore
been given. 7 recommended the estab-
1ishn7ant of a commerce court. which
should absorb all the reviewing juris-
diction which circuit courts had there
tofOre had to consist of five mem bers,
with the hope that this might secure
greater expedition and greater uni