The Morris County chronicle. [volume] (Morristown, N.J.) 1877-1915, 1909-08-10


Senators Aldrich and Daniel and
Representatives Payne, Fordney and
Clark, all conferrees on the bill, were
present
After signing the bill the President
waited nearly an hour for adjourn
ment. He joked with all corners and
gave autographs to the pages and at
taches of the Senate.
A fierce thunderstorm came up
just after the President had signed
the bill, and some of the Senators de-
clared that it was an indication that
dire disaster would follow its enact
ment.
The Presidents Statement.
Soon after signing the bill the
President gave out this statement
81 have signed the Payne Tariff
bill because l believe it to be the re-
suit of a sincere effort on the part OF
the Republican party to make a
downward revision and to comply
with the promises of the platform as
they have been generally understood
and as interpreted them in the cam
paign before election.
The bill is not perfect tariff bill
nor a complete compliance with the
promises made, strictly interpreted,
but fulfilment free from criticism
in respect to a subject matter involv-
ing many schedules and thousands of
articles could not be expected. Tt
suficesSto say that except with regard
to whisky, liquors and wines, and in
regard to silks and as to some high
classes of cotton-all Of which may
l. H.. \.
jects of revenue tariff-there have
been very few increases in rates.
There have been a great number
of real decreases in rates, and they
constitute sufficient amount to just
ify the statement that this bill is
substantial downward revision and
reduction Of. excessive rates.
Didn't Promise Free Trade.
This is not a free trade bill. It
/ was not intended to be. The Republic
can party did not promise to make
free trade bill
1t promised to make the safes
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 investments
here. I believe that while this ex-
cess has not been reduced in num-
Der of cases, in a great majority the
rates are such as are necessary to
protect American industries, but are
low enough, in case of abnormal in
crease of demand and raising of
prices, to permit the possibility of the
importation of the foreign article and
thus to prevent excessive prices.
The power granted to the Execu-
tive under the maximum and mini
mum clause may be exercised to Sc
cure the removal of obstacles which
have been interposed by foreign gov
ernments in the way of undue and I'M
fair discrimination against American
merchandise and products.
"The Philippine tariff section I have
struggled to secure for ten years last
past. and it gratifies me exceedingly
by my signature to give it the effect
of law. / am sure it will greatly in
crease the trade between the two
countries, and it will do much to build
up the Philippines in healthful pros
perity.
Other Good Features.
"The administrative clauses of the
bill and the Customs Court are adj
mirably adapted to secure a more uni
form and a more speedy final con-
struction of the meaning of the law.
1.-THE authority to the President to
use agents to assist in the application
of the maximum and min mum sec
tion of the statute, and to enable Off
Gals to administer the law, gives a
wide latitude for the acquisition, UNI
der circumstances favorable to it's
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 i'm
| portance as officially collected data
upon which future Executive action
and Executive recommendations may
be based.
The corporation tax is Just and
equitable excise measure. which, it is
hoped, will produce sufficient
amount to prevent deficit, and
which, incidentally, will secure valu-
able statistics and information con-
corning the manv corporations of the
country, and will constitute an inn
portant step toward that degree of
publicity and regulation which the
tendency in corporate enterprises in
the last twenty years has shown to be
necessary.
Chronology of Tariff Law.
March 4, 1909 - President Taft
called an extraordinary session of
Congress to revise the tariff.
March 15-Congress convened.
March 18-Chairman Payne, of the
House Ways and Means Committee,
introduced the bill
April 10-House passed bill, and
transmitted it to the Senate.
April r. Senate began considera
tion of the measure.
July 5 49, Senate passed bill with
SIT amendments.
July - Tariff questions shifted
from both houses OF Congress, and
bill sent to Conference Committee
July 29-Conferrees reach agree
ment, which is signed and reported to
the House.
July 81 - House adopted confer
ence report. and passed the bill
August 5--Senate adopted confer
ence report. and passed the bill
August president Taft signed
Tariff bill.
August 6, 1909--New tariff law be-
comes effective, with exception of GER
tain specific provisions.