WE COULDN'T BE more pleased with yesterday's good news from the city of brotherly love that Elizabeth Taylor is still doing her thing. Everyone knows that Miss Taylor's thing--in addition to acting with one of her former husbands, Richard Burton, in "Private Lives," which was what brought her to Philadelphia in the first place--is marriage. Some do hatchet jobs, some do hair, some do karate, and some do weddings, and Miss Taylor does the last very well.

It has been said that Philadelphia, a city of traditions with a reputation for being staid if not downright stodgy, is an odd place to make such an announcement. But let us remember that Miss Taylor is endorsing the traditional values of love and marriage at a time when such values are constantly being questioned if not thoroughly trampled, and that Philadelphia is--appropriately--the city of the Liberty Bell and of Independence Hall as well as of brotherly love. Miss Taylor has always been an independent woman, with the irrepressible romantic's penchant for falling in love. "I'm in love," she said again yesterday. She said it as simply, as unabashedly as that, and we admire her for it. We have always felt drawn to anyone willing to risk the second chance, or even, as in Miss Taylor's case, some higher number.

In truth, we find something reassuring about Miss Taylor's intention in the midst of her 52nd year, and despite experience, to marry again. Samuel Johnson described marriage as the triumph of hope over experience. If we can judge by Miss Taylor's record, experience has been thoroughly vanquished. Let others sniff. We say terrific.