William Taft actually said...

"Certainly we should proceed prudently in dealing with them upon the basis of ascertained facts rather than hastily and without knowledge to make a reduction of the tariff to satisfy a popular desire."

"If I fail to recommend the reduction of excessive duties to this extent, I shall fail in my duty to the consuming public."

"Nothing, however, halts business and interferes with the course of prosperity so much as the threatened revision of the tariff."

"I have always regarded this language as fixing the proper measure of protection at the ascertained difference between the cost of production at home and that abroad."