New-York tribune., 1909-03-19

committee expresses the opinion that the new
bill is so constructed that these conditions VIII be
fully met 1t is stated that the bill proposes a
reduced rate on the bulk OF imported articles
ANSWER TO POPULAR DEMAND
The committee then undertakes to give an loea
Of the important character OF the work IN ~nlch
il has been engaged, beginning with the state
rnent that the preparation OF the bill has been
no easy task The popular demand for the cut
ting Of rates IS referred to. and against this Is
set the Republican policy of protection whose
cardinal nrinciple II is stated IS the protection
Of American industries and American workmen
against the difference in cost OF production al
home and abroad.
The necessity for more revenue at the present
time Is also discussed at some length 1t Is
asserted that until the recent depression IN Ousi
ness the revenues under the present laws hau
been sufficient to meet the expenditures OF the
government and the fact is pointed out tnaI
taking the entire period from 1897. the GATE OF
the enactment OF tho Dingley bill. until 1909
there has been a surplus Of receipts over eA
nenditures amounting 10 s74555.4o8 The total
receipts for this period. exclusive OF postai rev
enues. were s655S 22O. .264 and the expenditures
also exclusive of postal expenses s6.4S36s4.856.
Comment is then made upon the effect OF the
Industrial depression and in that connectlon lne
committee SAYS: "It is the hope OF the COM
rnfttee that with return of business prosperity
the revenues will show large percentage OF III
crease and prove entirely adequate for any nat
uraI and economical scale of expenditures II
IS then pointed out that even since the beginning
OF the present month there has been an upward
tendency in receipts.
In explaining the provision for authorizing the
issue OF $4OOOOOOO of additional Panama Canal
lief Of
committee is that the entire expenditure for the
building Of the Panama Canal should be met
by a bond issue.
Mr.. Payne calls attention to the great amount
OF labor involved in the preparation Of the bill
now before the House. For more than two years
experts in tariff matters have been investigating
tariff rates. and consular agents have been
studying the tariff schedules of other countries
with q view 10 rendering assistance In the
preparation of this bill. Mr.. Payne speaks OF
the great assistance rendered the committee by
State Department.
MEASURE PLEASES MR.. MACVEAGH
The Secretary OF the Treasury, Franklin Mac
Veazh to-day expressed his satisfaction with
the general features Of the new tariff bill
'Reserving the expression Of opinion as to
the particular rates adopted by the Ways and
Means Committee" Mr.. MacNeagh said, II IS a
pleasure TO note the manner in which the COM
mittee has responded 20 the general expecta-
tions of the people TO genuine revision Of
the tariff and the way in which it has under
taken TO fulfil the pledges and promises OF the
Republican party.
LAS to the amount of revenue that the opera
ton OF the bill would produce" continued the
Secretary, 'I. at present. accept the conclusions
OF the committee itself. It must always, how
the revenues will be. And although the Treas
ury Department has reason to question the
lions OF tho Committee Ways and
Means IL is wise upon the part of the commit
tee 10 provide through the S4OOOO,OOO Panama
bonds and tn, Increase Of the per cent Ger
tincates to S2JOOOOOOO for any possible disap-
pointn1ent in the expected revenues. There is
also the possibility OF further adjustment OF
expenditures to revenues through wise and
careful reductions in the appropriations at later
sessions OF the Congress"
| Representative Rroussard, Of Louisiana. in
voting in committee to-day for reporting the
bill without amendment. explained that he did
not agree with the Democratic tariff theories
when he found any and, further. that the
Pavne bill was satisfactory 10 his constituents
and himself Louisiana demanded and received
protection on its sugar rice and lumber and
its delegation can probably be counted on 70
support the measure. The same may he said
Of the Florida delegation because that state
receives protection on It's cotton apples, oranges
and ptneapples