US Presidency
1911

Their function is merely to present findings of fact on which rates of duty may be fairly determined in the light of adequate knowledge in accord with the economic policy to be followed. This is what the present report does. The findings of fact by the board show ample reason for the revision downward of Schedule K, in accord with the protective principle, and present the data as to relative costs and prices from which may be determined what rates will fairly equalize the difference in production costs. I recommend that such revision be proceeded with at once. PART IV. [ On the financial condition of the treasury, needed banking and currency reform, and departmental questions. ] THE WHITE HOUSE, December 21, 1911. To the Senate and House of Representatives: The financial condition of the Government, as shown at the close of the last fiscal year, June 30, 1911, was very satisfactory.