TAFTS
INAUGURAL
ADDRESS
iiiflines Policy of
Administration
PRAISE FOR ROOSEVELT
Speech Begins With Advocacy
of Predecessors Reforms
MANY QUESTIONS TOUGHED
Incoming Presidents Ideas on
Trusts and Other Matters
My Follow Citizens Any one who
takes the oath I have just taken must
feel a lieuvy weight of responsibility
If not he has no conception of the
powers and duties of the office upon
which he is about to enter or he is
lacking in a proper sense of the obliga
tion which the oath imposes
The office cf an inaugural address is
to give a summary outline of the main
policies of the new administration so
far as they can be anticipated I have
had the honor to be one of the ad
visers of ruy distinguished predecessor
and as such lo hold up his hands in
the reforms he has initialed I should
be untrue to myself to my promises
and to the declarations of the party
platform upon which I was elected to
office if I did not make the inainte
nance and enforcement of those re
forms a most important feature of my
administration They were directed to
the suppression of the lawlessness and
abuses of power of the great combina
tions of capital invested in railroads
and in industrial enterprises carrying
on interstate commerce The steps
which my predecessor took and the
legislation passed on his recommenda
Hon have accomplished much have
caused a general halt in the vicious
policies which created popular alarm
and have brought about in the busi
ness affected a much higher regard for
existing law
Further Action Needed
To render the reforms lasting how
ever and to secure at the same time
freedom from alarm on the part of
those pursuing proper and progressive
business methods further legislative
and executive action are needed Re
lief of the railroads from certain re
strictions of the anti trust law have
been urged by my predecessor and will
be urged by me On the other hand
the administration is pledged to legis
lation looking to a proper federal su
pervision and restriction to prevent ex
cessive issues of bonds and stocks by
companies owning and operating Inter
state commerce railroads
Then too a reorganization of the de
partment of justice of the bureau of
corporations in the department of com
merce and labor and of the interstate
commerce commission looking to effec
tive co operation of these agencies is
needed to secure a more rapid and cer
tain enforcement of the laws affect
ing interstate railroads and industrial
combinations
I hope to be able to submit at the
first regular session of the incoming
congress in December next definite
suggestions in respect to the needed
amendments to the anti trust and the
interstate commerce law and the
changes required in the executive de
partments cciH erned ii their enforce
ment
Gcod ani 3zd Trust
It U belie fl t its tile changes
to bo recriii in- Aiierica busi
ness can It T -- i of
stabTIt and - r iiFy us respect to
tho i liii i -- J v and
thoo tl t - vvm v -1 is
essential t - i t r rr iwii of
all buslc - Li iiee
the right x o v j them
selves of - - c biuug
capital an wd vary to
reach the av i p of economic
efficiency at ilu ssiiu rime differenti
ating between combinations based
upon lejit1 cwcsii renvois and
those formal with the intent cf creat
ing monopIls and artificially control
ling prices
The work of formulating into prac
tical shape such cinniies is creative
-work of the highest order and requires
all the deliberation possible in the in
terval I believe that the amendments
to be proposed arc just as necessary in
the protection of legitimate business as
In the clinching of the reforms which
properly bear the name of my prede
cessor
Revision of the Tariff
A matter of most pressing impor
trmpp is the revision of the tariff In
S5ast irws
m mct on the 15th day of March In
order that consideration may be nt
oiji o given to a bill revising the Ding
ley act This should secure an ade
quate revenue and adjust the duties In
such a manner as to afford to labor
and to all industries In this country
whether of the farm mine or factory
protection by tariff equal to the differ
ence between the cost of production
abroad and the cost of production here
and have a provision which shall put
Into force upon executive determina
tion of certain facts a higher or maxi
mum tariff against those countries
whose trade policy toward us equitably
requires such discrimination It is
thought that there has been such a
change in conditions since the enact
ment of the Dingley act drafted on a
similarly protective principle that the
measure of the tariff above stated will
permit the reduction of rates in certain
schedules and will require the ad
vancement of few if any
The proposal to revise the tariff
made in such an authoritative way as
to lead the business community to
count upon It necessarily halts all
those branches of business directly
affected and as these are most im
portant it disturbs the whole business
of the country It is imperatively nec
essary therefore that a tariff bill be
drawn in good faith in accordance
with promises made before the elec
tion by the party in power and as
promptly passed as due consideration
will permit
Inheritance Tax Advocated
In the making of a tariff bill the
prime motive is taxation and the se
curing thereby of a revenue Due
largely to the business depression
which followed the financial panic of
1907 the revenue from customs and
other sources has decreased to such
an extent that the expenditures for
the current fiscal year will exceed the
receipts by 100000000 It is impera
tive that such a deficit shall not con
tinue and the framers of the tariff
bill must of course have in mind the
total revenues likely to be produced by
it and so arrange the duties as to se
cure an adequate income Should it be
impossible to do so by import duties
new kinds of taxation must be adopt
ed and among these I recommend a
graduated inheritance tax as corm 1
in principle and as certain and easy nf
collection
Government Economy Urged
The obligation on the part of those
responsible for the expenditures made
to carry on the government to be as
economical as possible and to make
the burden of taxation as light as pos
sible is plain and should be affirmed in
every declaration of government pol
icy This is especially true when we
are face to face with a heavy deficit
But when the desire to win the popu
lar approval leads to the cutting off of
expenditures really needed to make
the government effective and to en
able it to accomplish its proper objects
the result is as much to be condemned
as the waste of government funds in
unnecessary expenditure
In the department of agriculture the
use of scientific experiments on a large
scale and the spread of information
derived from them for the improve
ment of general agriculture must go
on
The importance of supervising busi
ness of great railways and industrial
combinations and the necessary inves
tigation and prosecution of unlawful
business methods are another neces
sary tax upon government which did
not exist half a century ago
Proper Forms of Expenditure
The putting into force of laws Avhich
shall secure the conservation of our
resources so far as they may be with
in the jurisdiction of the federal gov
ernment including the most important
work of saving and restoring our for
ests and the great improvement of wa
terways are all proper government
functions which must involve large
experditure if properly performed
While some of them like the reclama
tion of arid lauds are made to pay
for themselves others are of such an
indirect benefit that this cannot be ex
pected of them A permanent im
provement like the Panama canal
should be truated as a distinct enter
prise and should be paid for by the
proceeds of bonds the issue of which
will distribute its cost between the
present and future generations in ac
cordance with the benefits derived It
may well be submitted to the serious
consideration of congress whether the
deepening and control of the channel
of a great river system like that of the
Ohio or of the Mississippi when defi
nite and practical plans for the enter
prise have been approved and deter
mined upon should not be provided for
in the same way
Then too there are expenditures of
government absolutely necessary if our
country is to maintain its proper place
among the nations of the world and is
to exercise its proper influence in de
fense of its own trade interests in the
maintenance of traditional American
policj against the colonization of Eu
ropean monarchies in this hemisphere
and in the promotion of peace and in
ternational morality I refer to the
cost of maintaining a proper army a
proper navy and suitable fortifications
upon the mainland of the United
States and In its dependencies
The Army and Navy
We should have an army so organ
ized and so officered as to be capable
In time of emergency in co operation
with the national militia and under
the provisions of a proper national
volunteer law rapidly to expand into
a force sufficient to resist all probable
invasion from abroad and to furnish a
respectable expeditionary force if nec
essary in the maintenance of our tra
ditional American policy which bears
nfvnrflnnce with the promises of the the name of President Monroe
jplatform upon which I was elected I Our fortifications are yet in a state
shall call congress Into extra session of only partial completeness and the
number of men to man them Is Insuffi
cient In a faw years however the
usual annual appropriations for our
coast defenses both on the malnlaud
and In the dependencies will make
them sufficient to resist all direct at
tack and by that time we may hope
that the men to man them will be pro
vided as a necessary adjunct The
distance of our shores from Europe
and Asia of course reduces the ne
cessity for maintaining under arms a
great army but It does not take away
the requirement of mere prudence
that we should have an army suffi
ciently large and so constituted as to
form a nuclcu out of which a suitable
force can quickly grow
What lino been said of the army
may be ailinned In even a mere em
phatic way of the navy A modern
navy cannot be Improvised It must
be built and In existence when the
emergency arises which calls for Its
use and opention My distinguished
predecessor has in many speeches sd
messages set out with great force and
striking language the necessity frr
maintaining a strong navy commciru
rate with the coast line the govern
mental res urces and the foreign trade
of our nati 11 and I wish lo reUcivtc
all the reasons which lie has presented
in favor of the policy of maintaining
a strong navy as the best conservator
of our peace with other nations and
the best means of securing respect for
the assertion of our rights the defense
of our interests and the exevr of
our influeiK e in international
Must Arm as Other Nations Co
Our international policy is always to
promote peace We shall enter Into
any war with a full consciousness of
the awful consequences that It always
entails whether successful or not and
we of course shall make every effort
consistent with national honor and the
highest national interest to avoid a
resort to arms We favor every instru
mentality like that of The Hague tri
bunal and arbitration treaties made
with a view to its use in all interna
tional controversies in order to main
tain peace and to avoid war Rut we
should be blind to existing conditions
and should allow ourselves to become
foolish idealists if wo did not realise
that with all the nations of the world
armed and prepared for war we must
be ourselves in a similar condition in
order to prevent other nations from
taking advantage of us and of our in
ability to defend our interests and as
sert bur rights with a strong hand
In the international controversies that
are likely to arise in the orient grow
ing out of the question of the
open door and other issues the
United States can maintain her inter
ests intact and can secure respect for
her just demands She will not be
able to do so however if it is under
stood that she never intends to back
up her assertion of right and her de
fense of her interest by anything but
mere verbal protest ana diplomatic
note For these reasons the expenses
of the army and navy and of coast de
fenses should always be considered as
something which the government must
pay for and they should not be cut off
through mere consideration of econ
omy Our government is able to af
ford a suitable army and a suitable
navy It may maintain them without
the slightest danger to the republic or
the cause of free institutions and fear
of additional taxation ought not to
change a proper policy in this regard
Protection For Our Citizens Abroad
The policy of the United States in
the Spanish war and since has given
it a position of influence among the
nations that it never had before and
should be constantly exerted to secur
ing to its bona fide citizens whether
native or naturalized respect for them
as such in foreign countries We
should make every effort to prevent
humiliating and degrading prohibition
against any of our citizens wishing
temporarily to sojourn in foreign coun
tries because of race or religion
The Japanese Question
The admission of Asiatic immigrants
who cannot be amalgamated with our
population has been made the subject
either of prohibitory clauses in our
treaties and statutes or of strict ad
ministrative regulation secured by dip
lomatic negotiations I sincerely hope
that we may continue to minimize the
evils likely to arise from such immi
gration without unnecessary friction
and by mutual concessions between
self respecting governments Mean
time we must take every precaution to
prevent or failing that to punish out
bursts of race feeling among our peo
ple against foreigners of whatever na
tionality who have by our grant a
treaty right to pursue lawful business
here and to be protected against law
less assault or injury
This leads me to point out a serious
defect in the present federal jurisdic
tion which ought to be remedied at
once naving assured to other coun
tries by treaty the protection of our
laws for such of their subjects or citi
zens as we permit to come within our
jurisdiction we now leave to a state
or a city not under the control of the
federal government the duty of per
forming our international obligations
in this respect By proper legislation
we may and ought to place in the
hands of the federal executive tha
means of enforcing the treaty rights of
such aliens in the courts of the federal
government It puts our government
and then to excuse the failure to per
form those engagements by an expa
nation that the duty to keep them is in
states or cities not within our control
If we would promise we must put
ourselTes in a position to perform our
promise We cannot permit the possi
ble failure of Justice due to local preju
dice in any state or municipal govern
ment to expose us to the risk of a war
which might be avoided if federal
jurisdiction was asserted by suitable
---VT rS
lf
legislation by congress and carried out
by proper proceedings Instituted by
the executive in the courts of the na
tional government
Monetary Laws Need Change
One of the reforms to be carried out
during the incoming administratiui h
a change of our monetary and banking
laws so as to secure greater elasticity
in the forms of currency available for
trade and to prevent the limitations of
law from operating to Increase the em
barrassments of a financial panic The
monetary commission lately appointed
is giving full consideration to existing
conditions and to all proposed reme
dies and will doubtless suggest one that
will meet the requirements of business
and of public Interest We may hope
that the report will embody neither the
narrow view of those who believe that
the sole purpose of the new system
should be to secure a large return 01
banking capital nor of those who would
have greater expansion of currency
with little regard to provisions for its
immediate redemption or ultimate se
curity There is no subject of econom
ic discussion so intricate and so likely
to evoke differing views and dogmatic
statements as this one The commis
sion in studying the general intluene
of currency on business and of busi
ness on currency have wisely extend
ed their investigations in European
banking and monetary methods The
information that they have derived
from such experts as they have fount
abroad will undoubtedly be found
helpful in the solution of the difficult
problem they have in hand
Favors Postal Savings Banks
The incoming congress should
promptly fulfill the promise of the Re
publican platform and pass a proper
postal savings bank bill It will not
be unwise or excessive paternalism
The promise to repay by the govern
ment will furnish an inducement to
savings deposits which private enter
prise cannot supply and at such a low
rate of interest as not to withdraw
custom from existing banks It will
substantially increase the funds avail
able for investment as capital in use
ful enterprises It will furnish the
absolute security which makes the
proposed scheme of government guar
anty of dejiosits so alluring without
its pernicious result
Ship Subsidies Advocated
I sincerely hope that the incoming
congress will be alive as it should be
to the importance cf our foreign trade
and of encouraging it in every way
feasible The possibility of increasing
this trade in the orient in the Philip
pines and in South America is known
to every one who has given the matter
attention The direct effect of free
trade between this country and the
Philippines will bo marked upon our
sale of cottons agricultural machinery
and other manufactures The necessi
ty of the establishment of direct lines
of steamers between North and South
America has been brought to the at
tention of congress by my predecessor
and by Mr Root before and after his
noteworthy visit to that continent and
I sincerely hope that congress may be
induced to see the wisdom of a tenta
tive effort to establish such lines by
the use of mail subsidies
The importance which the depart
ment of agriculture and of commerce
and labor may play in ridding the
markets of Europe of prohibitions and
discriminations against the importa
tion of our products is fully under
stood and it is hoped that the use of
the maximum and minimum feature
of our tariff law to be soon passed will
be effective to remove many of those
restrictions
Lock Canal Plan Defended
The Panama canal will have a most
important bearing upon the trade be
tween the eastern and the far west
ern sections of our country and will
greatly increase the facilities for
transportation between the eastern
and the western seaboard and may
possibly revolutionize the transconti
nental rates with respect to bulky mer
chandise It will also have a most
beneficial effect to increase the trade
between the eastern seaboard of the
United States and the western coast
of South America and indeed with
some of the important ports of the
east coist of South America reached
by rail troin the west coast The
work on the canal is making most sat
isfactory progress The type of the
canal as a lo k canal was fixed by
congress after a full consideration of
the conlik ting reports of the majority
and minority of the consulting board
and after the recommendation of the
war department and the executive
upon those reports Recent suggestion
that something had occurred on the
isthmus to make the lock type of the
canal less feasible than it was sup
posed to be when the reports were
made and the policy determined on
leu to a visit to tne isthmus ot a
board of competent engineers to exam- 1
hie the Gatun dam and locks which
are the key of the lock type The re-
port of that board shows that nothing I
has occurred in the nature of newly
revealed evidence which should change
the views once formed in the original
disc u rion The construction will go
on v- r a most effective organization j
coutr lied by Colonel Goethals and his j
fellow army engineers associated with 1
him and will certainly be completed 1
earl- in Ihe next administration if not I
before
Snmc iTio Af ffirtil 7mr lio
In a pusillanimous position to make
structeL T1e ork type lms been se
definite engagements to protect aliens
Ipcted We are all in favor of having
it built as promptly as possible We
must not now therefore keep up a fire
in the rear of the agents whom we
have authorized to do our work on
the isthuius We must hold up their
hands and speaking for the incoming
administration I wish to say that 1
propose to devote all the energy possi
ble and under ray control to the push
ing of this work on the plans which
ha- e been adopted and to stand behind
millnrt Ifrfltfri
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