The Taney County republican. (Forsyth, Mo.) 1895-1992, 1909-07-15
Washington Letter.

| lIiC ld1u D1lI Will now De CeQLGreQ on
its progress in conference. 1t is proba-
bic that two or three weeks at least
will be consumed in this work, and it
does not seem likely now that Congress
will adjourn before August /. AS the
amended bill passed by the Senate will
be changed most materially, it is use
less to comment upon the various
schedules until the conference bill is
reported and passed by both Houses
and sent to the President. AS finally
passed by the Senate the rates seem
to be about midway between those
passed by the House and the present
Dingley law, and the completed bill
adopted in conference will certainly
show a considerable reduction over the
rates of the law now in operation.
While these reductions will not meet
the wishes of the social progressive
and revisionists throughout the country,
yet they will be substantial enough to
meet the expectation of all fair-mined
people While it is true that the Re
publican platform did not call for re-
vision downward, yet it is fact that
the President in his speeches before
election and other Republican leaders
made such promises and those pledges
will be kept.
There seems to be no reason why
the President should not sign what
ever bill may be sent to him, and
there does not seem to be any doubt
that he will do so.
The joint resolution providing for
the submission to the State of an in
come tax constitutional amendment
which was agreed to by a unanimous
vote in the Senate has also been adopted
by the House, although there is con-
siderable doubt if three-fourths of the
States will concur in this amendment,
the number necessary for its adoption.
The maximum and minimum fea-
lures of the tariff bill will probably re-
main as amended in the Senate and
the administrative features of the new
bill will be stronger than in any pre-
vious tariff law we have ever had.
AS regards Custom Court spite
of the great opposition made it seems
likely that such a tribunal will be pro-
vided for. The power given to the
President to appoint experts to enable
him to properly carry out the maxi
mum and minimum features will pr0ba-
bly, do away with any further thought
of tariff commission, an amendment
to this effect having been voted down
in the Senate.
There is so much variance of opin-
ion as to what the new bill will pro-
duce in revenue that it is impossible
to predict with any accuracy the re-
suit until the completed schedules are
known. Even then the revenue will
depend not so much upon the rates as
upon the condition of business. It is
believed, however, that the new tariff
will produce sufficient revenue to meet
the expenditures. In this connection
it can be noted that the deficit for the
year just closed was under ninety mil
lions of dollars, in spite of the predic-
tons some months ago that it would
reach from one hundred and twenty to
one hundred and forty millions of dol
lars. Several times the prediction has
been made in these letters that the de-
fcit would be under ninety millions,
while others were claiming that it
would reach the larger figures stated.
But these eight-nine millions do not
represent the true deficit because some
thirty millions of this is for Canal ex-
penditures, for which bonds have been
authorized, leaving the true deficit at
only about sixty millions-a most salts
factory result considering the business
conditions of the past fiscal year.
The industrial depression not only of
our own country, but of foreign coun-
tries has been also reflected in the fig
ures relating to our foreign commerce
for the year. Our exports have fallen
off some two hundred millions, while
our imports will exceed those of last