News and citizen. [volume] (Morrisville, Vt. ;) 1881-current, 1909-08-11
President Taft Approves Tariff Bill

The Payne-Aldrich tariff bill is now
law, having been signed by Presiden
Taft last Thursday afternoon. Ate
afiixing his signature, President Tat
gave out a statement embodying hi
views of the tariff acts, which he desie
mates officially as the payne BILL" il
accordance with past custom of givin,
first recognition to the Trainer of the meas
ure in the House of Representatives.
The President declares that while tn
bill is not perfect by any means, nor ~
complete compliance with promises mad
strictly interpreted" it is nevertheless
sincere effort on the part of the party tC
make downward revision and to comply
with the promises of the platform.
The statement in full follows:
Il have signed the Payne Tariff bill
because believe it to be the result of a
sincere effort on the part of the Republi.
can party to make downward revision
and to comply with the promises of the
platform as they have been generally
| understood and as interpreted them in
the campaign before election.
THE bill is not perfect tariff bill or a
complete compliance with the promises
strictly interpreted, but fulfllment free
from criticism in respect to a subject
matter involving many schedules and
thousands of articles could not be en-
pected. 1t suffices to say that except
with regard to whiskey, liquors and
wines, and in regard to silks and as to
some high classes of cottons-all of which
are to be treated as luxuries and proper
subjects of revenue tariff there have
been very few increases in rates.
There have been a great number of
real decreases in rates, and they consti-
tute a sufficient amount to Justify the
statement that this bill is substantial
downward revision and a reduction of
excessive rates.
This is not free trade bill. 1t was
not intended to be. The Republican
party did not promise to make free
trade bill.
1t promises to make the rates pro.
tective, but to reduce them when they
exceeded the difference between the cost
OF production abroad and here, making |,
allowance for the greater normal profit
on active investments here | believe ,
[hat While this excess has not been re-
1uced in number of cases, in a great j.,
many the rates are such as are necessary :
20 protect American industries, but are !
oW enough in case of abnormal increase -.
II demand, and raising of prices, TO per :
mt the possibility of the importation of c
he foreign article and thus to prevent =
prices. .
The power granted to the executive 4
nder the maximum and minimum clause -
nay be exercised to secure the removal
Il obstacles which have been interposed
y foreign government in the way of TN. =,
Tie and unfair discrimination against -
,merican merchandise and products &
The Philippine tariff section | have /,
truggled to secure for ten years last -
asst, and it gratifes me exceedingly by a.
~ signature to give it the effect of law :.
am sure it will greatly increase the -
-ade between the two countries and it e,
I'LL do much to build up the Philippines -, -
| a healthful prosperity. ~ ~
The administrative clause of the Bill ~
nd the customs court are admirably -,
1apted to secure more uniform and a ".
ore speedy final construction III "a the h i
Gaming of the law 3rtA t 81
THE authority to the President to use rs
gents to assist him in the application II
the maximum and minimum section Of y,
lie statute and to enable officials to adj
mister the law, gives a wide latitude i i'i
r the acquisition under circumstances t is
vorable to its truth, OF information in W ~
spect to the price and cost of produc. "a
On of goods at home and abroad, which
i'll throw much light on the operation i ~
the present tariff and be of primary i iIi
portance as officially collected on data lln
which future executive recommends. w,
ms may be based.
The corporation tax is a just and III
uitable excise measure which it is hoped an an
II produce a sufficient amount to pre- a.
Mt deficit and which incidentally will
,ure valuable statistics and informa- lei
N concerning the many corporations all
the country and will constitute an i'm. We
rtant step toward that degree of pub I'd
ty and regulation which the tendency
corporate enterprises in the last
enty years has shown to be neces-i 7
""