Omaha daily bee., 1909-08-06


make downward revision and to comply
with the promises Of the platform.
Result of Sincere Effort.
The statement in full follows;
II have signed the Payne tariff bill be-
cause believe it to be the result Of sincere
effort on the part of the republican party
to make a downward revision, and to COM
ply with the promises of the platform as
they have been generally understood, and
as l interpreted them in the campaign be-
fore election.
This is not a perfect tariff bill, nor q
complete compliance with the promises
made strictly interpreted, but fulfillment
free from criticism in respect to a subject
matter involving many schedules and thou
sands of articles could not be expected
1t suffices TO say that except with regard
to whisky, liquors and Wines and in re-
gard TO silks and as to some high classes
of cotton-all of which may be treated as
luxuries and proper subjects of revenue
tariff-there have been very few increases
in rates
Many Real DecreaseA
There has been a great number of real
decreases in rates, and they constitute a
sufficient amount to justify the statement
that this bill is a substantial downward
revision, and a reduction of excessive rates
This is not a free trade bill was
not intended to be. The republican party
did not promise to make free trade bill
II promised TO make the rates protective,
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 invest
ments here. / believe that while this ex-
cess has not been reduced in a number of
cases in a great majority the rates are
such as are necessary to protect the Ameri-
can industries, but are low enough in case
Of abnormal increase Of demand. and rails
ing Of prices to permit the possibility of
importation of the foreign article and thus
prevent excessive prices.
THE power granted TO the executive
under the maximum and minimum clause
may be exercised to assure the removal Of
obstacles which have been interposef by
foreign governments in the way of undue
and unfair discrimination against Ameri-
can merchants and products
Likes Philippine Section.
The Philippine tariff section have
struggled to secure for ten years past. and
It gratifies me exceedingly by my signature
to give 1t the effect Of law. I am sure II
will greatly increase the trade between the
two countries and II will do much to Build
up the Philippines in a healthful prosper
ity.
THE authority Of the president to use
agents to assist him in the application Of
the maximum and minimum sections Of
the statute, and to enable officials to ad-
minister the law gives a wide latitude for
the acquisition under circumstances favor
able 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 importance In securing
officially collected data upon which future
executive action and executive recommen-
dation may be based.
Praise for Corporation Tax.
The corporation tax is a Just and eouit-
able excise measure, which, II is hoped
will produce sufficient amount Of revenue
to prevent deficit and which incidentally
will secure valuable statistics and informa-
ton concerning the many corporations OF
the country and will constitute an impor-
tant step toward that degree of publicity
and regulation which the tendency in cor
porate enterprises in the last twenty years
has shown to be necessary.