Goldsboro semi-weekly argus., 1909-08-11
APOLOGIST TAFT
The President officially
Designates Measure
as Payne Bill.
Chief Executive Says Act Is Net Per-
feet But He Endorses It--DOes
Not Completely Meet Re-
publican Promises.

Washington, d. c., August 9TH
tariff has been revised and the extra
ordinary session of Congress has beel
brought to Il close. Both houses ad
journed sine die officially at 81.
O'Clock tonight The actual adjourn
ment was taken in the House at 81
D. m adm in the Senate at 5:58 p. m.
The closing hours of the session
were attended by scenes of mos
uninteresting character. The reVi
sion had been according to the de
Sires of some and with the heart
disapproval Of others, and the las
two days had been consumed by thu
memiers of the Senate in expressing
their satisfaction or dissatisfaction.
The conference report on the bill
WAS agreed to by the Senate by {
vote of 43 to 81. The vote was takeI
and soon afterwards the concurrent
resolution making certain changes b!
both houses.
President Taft arrived at the Capt.
tol at 4:45 p. m. 1t was his first ap-
s Freside nj, and there was con-
stant procession of handshaking
statesmen through the Presidents
rooms from the time of his arrival
until his departure at $50 o'clock.
Just as the hands of the gold clock
in the Presidents room reached five
minutes past five, the Payne tariff
bill as the measure will be known.
was laid before the President. He
picked up a pen supplied by Chair
man Payne of the House ways and
means committee, and which was
used by both the Vice-President and
the Speaker in signing the bill, and
attached his signature.
After writing William H. Taft" the
President added, ''signed five minutes
after five o'clock, August 5, 1907
W. H. To-
President Taft tonight gave out q
statement embodying his views of the
new tariff act, which he designates
officially as the payne BILL in ac-
cordance with the past custom of
giving first recognition to the Trainer
Of the measure in the House of Rep
resentatives.
The President declares that while
the bill is not perfect by any means
nor "a complete compliance with
promises made, strictly Interpreted >
it is, nevertheless, a sincere effort on
the part of the party to make 6
downward revision and to comply
with the promises of the platform.
The statement in full follows:
fEI have signed the Payne tariff bill
because 1 believe it to be the result
Of a sincere effort on the part of the
Republican party to make a down
ward revision, and to comply with ths
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 bip
or a complete compliance with the
promises made, strictly interpreted
but a fulfilment free from criticism il
respect to subject matter involvins
many schedules and thousands of ar
ticles could not be expected. 1t suf
fees to say that except with regard
to whiskey, liquors and wines and il
regard to silks and as to some higl
classes of cottons-all of which ma,
be treated as 1uxuries and proper sub
jects of a revenue tariff-there haV'
been very few increases in rates.
'"There have been a great numbe
of real decreases in rates, and the.
constitute a sufficient amount to jus
tify the statement that the bill is
subsrant;a downward revision, and
reduction of excessive rates.
This is not a free r:tde bill. 1t wa
not intended to be- The Republican
party did not promise to make a free
trade bill It promised to make tn
rates protective, but to reduce ther
when they exceed the difference be
tween the cost of production abroa
and here, making allowances for tn
| greater normal profit on active invest
menis here. I believe that while thi
| excess has not been reduced in
number of cases, in a great majorit
the rates are such as are necessaT
to protect American industries, bl
are low enough in case of abnorm;
increase of demand and raising
prices. to- permit the possibility of tt
importation CT the foreign article al
low enough to prevent excessi'
prices.
The power granted to the executi'
under the maximum and minimu
clause may be exercised to secure tt
removal of obstacles which ha
been interposed by foreign COVER
ments in the way of undue and unfa
discrimination against American me
chandise and products.
MR.. THORNTON PURCHASES TW'
LOTS FROM MIR. J. d. RI(