The Penn's Grove record., 1909-08-13
N. j.. FRIDAY. AUGUST 10. 1909.

Senators Aldrich and Daniel and
Representatives Payne, Fordney and
Clark, all conferrees on the bill, were
present.
After signing the bill the President
waited nearly an hour for adjourn
ment. He 5oked with all corners and
gave autographs to the pages and at
taches OF the Senate.
A fierce thunderstorm came up
just after the President had signed
the bill, and some of the Senators de-
clared that 1t was an indication that
dire disaster would follow its enact
ment.
The Presidents Statement.
Soon after signing the bill the
President gave out this statement:
II have signed the Payne Tariff
bill because I believe it to be the re-
suit of a sincere effort on the part of
the Republican party to make a
downward revision and to comply
with the promises of the platform as
they have been generally understood
and as / interpreted them in the cam
paign before election.
"The bill is not a perfect tariff bill
nor a complete compliance with the
promises made, strictly interpreted,
but a fulilment free from criticism
in respect to a subject matter involv-
ing many schedules and thousands of
articles could not be expected. 1t
suffices to say that except with regard
to whisky, liquors and wines, and in
r1~a-I ~ ot1vr- - - - hitch
classes of cotton-all of which may
be treated as Injuries and proper sub
jects of a revenue tarif-there have
been very few increases in rates.
There have been a great number
of real decreases in rates, and they
constitute a sufficient amount to just
ify the statement that this bill Is a
substantial downward revision and a
reduction of excessive rates.
Didn't Promise Free Trade.
This is not a free trade bill. 1t
was not intended to be. The Republi-
can party did not promise to make a
free trade bill.
ut promised to make the rates
protective, but to reduce them when
they exceeded the difference between
the cost of production abroad and
here, making allowancefor the greater
normal profit OF active investments
here. / believe that while this ex-
less has not been reduced in a num-
Der of cases, in a great majority the
rates r such as are necessary to
protect American industries, but are
low enough, in Ease of abnormal in
crease OF demand and raising of
prices, to permit the possibility of the
importation of the foreign article and
thus to prevent excessive prices.
"The power granted to the Execu-
tive under the maximum and mini
mum clause may be exercised to Sc
cure the removal Of obstacles which
have been i~nterposed by foreign gov
ernments in the way of undue and un-
fair discrimination against American
merchandise and products.
"The Philippine tariff section I have
struggled to secur for ten years last
past, and it gratifes me exceedingly
by my signature to give 1t the effect
OF law. I am SUR it will greatly in
crease the trade between the two
countries, and 1t will d omuch to build
up the Philippines in a healthful pros
perity.
Other Good Features.
@The administrative clauses OF the
bill and the Customs Court are adj
mirably adapted to secur a more uni
form and a mor speedy final con-
struction of the meaning of the law.
"The authority to the President to
use agents to assist in the application
of the maximum and minimum Sec
ton of the statute, and to enable off,
Gals to administer the law. gives a
wide latitude for the acquisition, IN
der circumstances favorable to its
truth, of information in respect to the
price and cost of production of goods
at home and abroad, which will throw
much light on the operation Of the
present tariff and be of primary i'm
portance as officially collected data
upon which future Executive action
and Executive recommendations may
be based.
"The corporation tax is a just and
equitable excise measure, which, it is
hoped, will produce a sufficient
amount to prevent a deficit, and
which, incidentally, will secure valu-
able statistics and information con
corning the many corporations of the
country, and will constitute an i'm
portant step toward that degree of
publicity and regulation which the
tendency in corporate enterprises in
the last twenty years has shown to be
necessary"
Chronology Of Tariff Law.
March 4, 1909 - President Taft
no11nd n ~ tvo4rSnn caeofnn nf
Congress to revise the tariff.
March 15-Congress convened.
March 18-Chairman Payne, of the
House Ways and Means Committee,
introduced the bill.
April 10-House passed bill, and
transmitted it to the Senate.
April 12-Senate began considera.
ton of the measure.
July s. Senate passed bill with
ST amendments.
July g. Tariff questions shifted
from both houses of Congress, and
bill sent to Conference Committee.
July 29-Conferrees reach agree
ment. which is signed and reported to
the House.
July 81 House adopted confer
| ence report, and passed the bill.
August 5-Senate adopted confer
ence report, and passed the bill.
August president Taft signed
Tariff bill.
August g., 1s09-,Jew tariff law be.
comes effective, with exception Of GER
tain specific provisions.
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Kentucky Troops Rescue Negro.
J. M. Stuart, a negro, was brought
To tho I onicuiIlo iail hu .Rnuu1inQ