The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-09-28
President Makes Appeal to Public
For teamwork to Restore
Confidence and Encour-
age Capital
DEFENDS HONEST ENTERPRISE
Says Abuses Are Being Remedied and
That People Should Work Toaeth-
or for General Prosperity
of Whole Land.

Waterloo. Iowa, Sept 2S.-President
Taft did not reach Waterloo until 3:15
o'clock this afternoon. his delay being
caused by the response to demands for
brief stops along the route. He was
Immediately escorted to the speakers
stand In the park Waterloo was ricn-
ly decorated with flags and bunting
i'm honor of the presidents visit.
Taft and party. which included CIV.
ernor Carroll and staff. Senator Ken
yon and most OF the Iowa congression-
al delegation, was escorted from the
station by several companies of mill
tia.
During his stay here the president
will be a guest at the home OF Con-
gresham Pickett, who will tender him
a banquet tonight The presidential
party will leave Waterloo at 4 o'clock
tomorrow morning for Des Moines
Enroute he will speak at Knoxville
smaller places.
The presidents most important
speech today was delivered here this
afternoon. Mr. Taft discussing 'The
Relation of Government to the Busi-
ness of the Country" Recent events
I'm Wall street caused this speech to
be looked forward to as one of the
most interesting and far-reaching in
effect OF any the president will make
on his tour. He spoke as follows:
| wish TO invite your attention to the
relation of the Federal Government and
the Federal statutes TO the business of
this country. its legality and its pros
perity. There are four most important
points at which the policies of Con
gress and the Federal Executive touch
the business OF this country in such n
vital way that the people are entitled
to have the greatest care, industry and
application characterize government
tai action In respect to them. They
are. first. in respect of interstate COM
merce and the regulation OF railroads
and the rates of transportation be-
tween the States; second In the en-
forcement OF the laws forbidding COM
binations to monopolize interstate trade
In industrial companies; third. in the
amendment OF tariff legislation affect
ing chiefly the manufacturers of the
country, and. fourth. in the furnishing
for the use OF the business of the coun7
try and proper banking and cur
rency system which shall automatical-
ly give an elastic currency. expanding
and contracting according to the bus
mess methods, and inspiring a conn
dence in the business community which
shall prevent pahics
Regulation Of Railroads.
First. In respect TO the regulation
of railroads and the prompt remedying
of unreasonable and undu'y discrimi-
mating rates. we have progressed far
toward satisfactory solution. In the
last adm ministration the power was CIV
en- to the Interstate Commerce Com
mission To fix railway rates. 1t having
been decided that the functions of the
Interstate Commerce Commission, then
conferred, went only so far as to hnd
that n rate was unreasonable but ala
not include the power OF fixing rea'-
sonable rate. When the first regular
session of Congress met In my admin
istration I urged upon the Congress
the necessity for further legislation
looking to more complete control and
regulation of railways in respect TO
rates than had heretofore been given.
I recommended the establishment or n
commerce court, which should absorb
all the reviewing jurisdiction which
circuit courts had heretofore had, TO
consist of five members, with the hope
that this might secure greater expedi-
ton and greater uniformity In ruling
and a prompter disposition by the Su-
preme Court OF cases passed upon by
the Interstate Commerce Commission.
Taft's Recommendations.
/ recommended that cases affecting
the Interstate commerce should be put
under the direct control OF the De-
partment of Justice. and that the pro-
ceedings after the order had been made
IN the Interstate Commerce Commis-
sion should be brought for or against
the United States. and not against the
commission, as Heretofore.
recommended that shippers should
have some easy and practical method
of ascertaining a rate applicable to any
proposed shipment In advice In writing
with n penalty for a failure to furnish
IL.
I recommended that the commission
be authorized 10 act as its own ini-
tiative, as well as upon the complaint
of any Individual respecting the reas-
onableness OF any rate or the fairness
of any practice. and that the commits
sion should be empowered to pass upon
the classification of commodities. as
well as upon their rates, that having