Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1909-05-06
PRESENT TARIFF BILL
WILL NOT BE ACCEPTED

know, that the voices of those who are
clamoring for an increase of custom
house taxation are more distinctly
heard in the corridors and committee
rooms. There will come time pres
emily when the clamor of the millions
who want relief will sound like the
roar of a thousand Niagaras from one
ocean to the other. have heard it
said many times that those people
who We're insisting on tariff revision
were not familiar with the subject,
and had no opportunity to know
whether duties were too high or too
low.
This distrust or skepticism of the
| judgment of the common man is a
| fundamental mistake often made and
always atoned for in sackcloth and
ashes. The people it is true, have not
the advantage Of hearing thesspecific
statements of the army of interested
beneficiaries and witnesses who have
filled and overfilled the capital during
! these months in which the subject has
/ been under consideration
|
Passing to consideration of the
lumber schedule he said it made little
difference whether there was duty or
not so far as the preservation of the
forests was concerned with respect 10
! the cost of production in the great ar
part of the United States. at least
He said the American had the advan
tage of the Canadian and duty was
only necessary to equaliZe the dispar
ity in rates of transportation.
| Not for Government TO Insure.
! OF the iron and steel industry he
said: I'VE have one corporation whose
output is substantially one-half of the
whole. | am not one of those who
believe it is the office of the govern
ment to restrict the profits of capita
invested in private business nor al
| one of those who believe it is the
duty of the government to insure it
capital any return whatsoever.
| Six Per Cent is Enough.
81 trust, therefore, may be looked up
! on as conservative when say if the gov
ernment interferes with foreign com
petition sa as to permit such enterpris'
as this to earn 6 per centum per an
mum, it will have performed its ful
duty under the policy of protection.
Profits Are Extraordinary.
"The United States Steel corpora
tion when it began business on tn,
first of April. 1901, had property which
did not exceed in value 100000, ,00O
although it represented capitaliZa
tion consisting of stocks and bonds ae
gregating in round numbers 81 400
100000. This value has been increase
since that time, but it has grown who
ly from extraordinary profits which /
extorted from the defenseless people
Independents Do Not Need 1t.
IF the United States Steel corpo1
alton needs no protection" said ht
independent companies cannot nee
the duties imposed by this bill. The
would be amply cared for if the PR
posed duties were divided in twail
But to be conservative and yet to hol
in mind the interests of consumers c
these products, | shall when these pa
agraphs are reached, propose a
amendment reducing the duties belo'
those shown in the report of tn
i, finance committee substantially 33 1.
lper cent"
Aims mt Commodities Act.
Washington, May 6.-Representativ
Wagner today presented bill in tn
/, house making it illegal for a railroa
company to transport commodity fC
y any corporation in which it is the owl
er of stock or of which it is a credito
Bailey Has n Bill.
t Washington, May G.-Senator Bale
). today introduced bill amending til
interstate commerce act so as to app
a the provisions of the commoditit
Y clause to "any corporation or joil
It stock company which owns or contro
o directly or indirectly" such subsidial
It corporations. Culberson said he i
= tended to have the commodities clau;
O decision printed as a document, al
, Bailey withdrew his bill, so that b
J. fore introducing it he might read Il
eI full opinion.