Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1912-08-05
TAFT'S SPEECH
OF ACCEPTANCE
Continued from page -.

u
actual legislation on this subject. The
very prospect Of Democratic success
when its policy toward our great pro-
tected industries became understood
would postpone indefinitely the coming
Of prosperity and tend to give US a re-
currence Of the hard times that we had
in the decade between 1890 and 1897.
The Democratic platform declares
protection to be unconstitutional, al
though it has been the motive and pur
pose Of most tariff bills since 1889. and
indicates as clearly as possible the In
tention to depart from protective
policy at once. 1t is true the Demo
cratic platform says that the change to
the policy Of a revenue tariff is to be
made In such a way as not to injure
industry. This is utterly impossible
when we are on protective basis. and
It Is conclusively shown to be SO by the
necessary effect of bills already intro
duced and passed by the Demo rattle
house for the purpose Of making strides
toward a revenue tariff
Cost Of Living and Payne Law.
The statement has been widely circu
lated and has received considerable
support from political opponents that
the tariff act of 1909 is a prominent fac
tor in creating the high cost of Twin.
This Is not true. A careful invtStiua
ton will show that the phenomenon
Of increased prices and cost of livin@
Is world wide in its extent and quite
as much in evidence in other countries
Of advanced civilization and progress
sive tendencies as In our own
| Bitter complaints Of the burden of
Increased prices and cost of living
have been made not only in this colIn
try, but even in countries OF Asia and
Africa. Disorder and even riots have
occurred in several European cities Le
cause Of the unprecedented cost of
food products. In our own country
changes have been manifested without
regard to lower or higher duties in the
tariff act Of 1909. Indeed. the most
notable increase in prices has been IN
the case of products where no duties
are imposed, and In some instances
In which they were diminished or re-
moved by the recent tariff act
| Effect Of Excessive Tariff
There Is one respect in which high
tariff rates may make for eXorbtant
prices. II the rate is higher than the
difference between the cost of pi,nlnc
ton here and abroad then il tenlDtS
the manufacturers OF tins country to
secure monopoly Of the industry and
to increase its price as far as the tx
cessive tariff will permit The danger
may be avoided in two ways: First
by carefully adjusting the tariff on
articles needing protection. so that the
manufacturer secures only enough pro
lection to pay the scale of high wages
which obtains and ought to obtain in
this country and secure reasonable
profit from the business This may be
done by the continuance OF the tariff
boards investigation into the facts
which will enable congress and the
people to know what the tariff as to
each schedule ought to be The Amer.
lean public may rest assured that
should the Republican party hp restor.
ed to power in all legislative branches
all the schedules In the present tariff
Of which complaint Is made will I've
subjected tn investigation and report
by a competent and impartial tariff
board and to the reduction or change
which may he necpssar, to square the
rates with the facts.
The other method of avoiding danger
Of excessive prices from Excessive du-
ties Is to enforce the antitrust law
against those who combine to take ad-
vantage Of the excessive tariff rates.
This brings me to the discussion of the
Sherman act.
The antitrust law was passed to pro
vide against the organization and main.
tenance of combinations for the man
which through restraint Of trade. either
by contract and agreement or by va
rious methods of unfair competition.
should suppress competition. establish
monopoly and control prices. The
measure has been on the statute books
since 1890, and many times under con-
structiOn by the courts. but not until
the litigation against the Standard Oil
company and against the American To-
baccO company reached the supreme
| court did the statute receive an author
itative construction which Is workable
and Ineligible.
1t is the custom Of those who find II
Il. %
| sneer ut, as innOcuOus, the DEGREES
against the American Tobacco com
pany and the Standard Oil company.
and the administration Is condemned
in the Democratic platform for con
senting to a compromise in the Stand
ard Oil case. There was no compro-
mise. The Standard Oil decree was en-
tered by the circuit court. and then by
the supreme court, on the prayer Of the
government contained in the original
bill filed In previous administration.
Tobacco Case Was Fully Discussed.
The decree in the Tobacco case was
reached after a full discussion and en-
tered by the circuit court, consisting Of
four circuit judges, as a proper decree.
and the government refused to appeal
from 1t because it did not feel that 1t
had grounds upon which to base such
an appeal. Both DEGREES are working
we'll Both DEGREES have introduced
competition. the one into branches Of
the tobacco business and the other into
branches Of the oil business. They
have not reintroduced ruinous cOmpeti-
ton. but they have affected certain