The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1909-08-11

Taft Opinion Of the-Bill.
Washington, Aug. 5.-President
Taft tonight gave out a statement IN
full as follows:
II have signed the Payne tariff bill
because I believe 1t to be the result
OF sincere effort on the part Of the
Republican party to make down
ward revision. and to comply with the
promises Of the platform as they have
been generally understood, and as /
interpreted them in the campaign be-
fore election.
THE bill is not a perfect tariff bill
or a complete compliance with the
promises made strictly interpreted.
bnt fulfillment free from criticism
in respect to subject matter invol-
wing many schedules and thousands
of articles could not be Expected. 1t
suffice 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 may
be treated as luxuries and proper sub
jects of a revenue tarifr-there have
been very few increases in rates.
There have been q great number
of real decreases In rates. and they
constitute a sufficient amount to JUS
tify the statement that this bill is a
substantial downward revision, and
reduction Of excessive rates.
This y mob s1.esstrsd dc bill. Z, II
was-not' 'fntended to Be. The Repub-
lican party did not promise to make a
free-trade bill.
1T promised to make the rates
protective. but to reduce them when
they exceed the difference between
the cost Of production abroad and
here. making allowance for the great
or normal profit on active invest
ments here. I believe that while this
excess has not been reduced in q
number OF cases. in a great majority
the rates are such az are necessary
to protect American industries, but
are low enough. In case OF abnormal
Increase OF demand. and raising Of
prices. tc permit the possibility of the
importation Of the foreign article and
thus to prevent excessive prices.
The power granted to the executive
under the maximum and minimum
clause may be exercised to secure the
removal Of obstacles which have been
interposed by foreign governments in
the way Of undue and unfair discrim-
ination against American merchan-
disc and products.
''The Philippine tariff section I
have struggled to secure for 10 years
last past. and 1t gratifies me exceed
ingly by my signature to give it the
erect of law. / am sure 1t will great
iy increase the trade between the two
countries and 1t will do much to
build up the Philippines into a
healthful prosperity.
The administrative clauses of the
bili and the customs court are admir-
ably adapted to secure a more uni
FORM and a more speedy final con-
struction.
The authority to the president 20
use agents to assist him I'm the apnli-
cation of the maximum and mini
mum section of the statute and to en-
able officials to administer the law,
gives wide latitude for the acouisi
ton. under 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
Importance 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 il IL
hoped will produce sufficient
amount to prevent a deficit aid which
incidentally Will secure valuable sta