The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1909-12-09
LEGISLATION OF SPECIAL SEs-
SION NOT END OF MOVE
MeNT FOR REVISION.
NOT ALL TAFT WISHED
Secretary of Treasury Tells Massachu-
setts Bankers Republican Party Has
Changed Front and Is Pledged to
Lower Customs Dusies-To Proceed
Along Conservative Lines.

Boston. Dee. S.-opeuing his address
with u brief reference Ia the currency
situation. Secretary MarNeagh mad..
a plea before the Massachusetts Bank
srs' association tonight that the bank
ing interests realiz. th. gravity Of TIN.
tssu" and declared that unless the bank
erS succeeded in adopting the public
point ~ view instead II the private
one they would lose an opportunity
I" influence greatly the coming legiS-
lati"n On III. subject That was all
the secretary had I" say On currency
and he passed I" a discussion OF the
tariff and tn. Payne law He said
in part:
In considering III. results "f the
recent tariff legislation il is indispen-
sah" in my Judgment to keep taa
important factors in mimi The first
Is that the Payne Law IL but an In
oident in u tariff revision movement
hy and within the republican party.
sanctioned and undertaken hy the
party Itself and advocated by Presi-
dent Tart in office and out Of office.
aud by President Mckinley with al
most his last words
The second is that il is the result
ant effect at the movement which IL
important L. tax. into account aud
estimate. and not. essentially. ans-
thtng else. Nh one expected this great
movement ta complete itself in a
single act al legislation and IL was
expected IL be quite clear that the
legislation enacted last August ,lIs not
end III" movement for tariff revision
The opinion is practically universal
that ". have seen til. last ~ the log
rolling system of legislation upon such
an Important subject and that here
after such legislation must be based
uIon facts and knowledge and seien-
ufic investigation. and not on mere
hart"ring between sections and dif-
f"rent interests.
Changed Conditions Recognized.
There l. one great fact that makes
new tariff epoch. The fact Ii that
the republican party has changed its
front Whereas. il has sheen marching
toward "A higher and higher tariff. IL
has now faced about IL has r..ag-
nized the changed conditions IL IL
tfu" that the Payne bill does not
contain much downward revision a.
the great majority of the members
Of tn" republican party had wished.
IL did not contain as much of that re-
vision as the president wished. But
tn" Payne bill, as il passed the hnns.
Was AN Intentional and avawea re-
vision downward. As II now stands. il
Is practical confirmation Sf the new
policy nt the republican party
Personally | sympathlze with the
new tariff policy of the republican
party. hut 9nnst heartily believe that.
Notwithstanding the we'll Acknowledged
limitations IF the revision contained i'm
the Payne hill. IL ought not to be ae-
esrted by friends of tariff revision
aS satisfactory achievement unaa-
al IN" circumstances. | believe that
N. ought not To- have expected any
thing else but step forward. Within
period far short Of the lapsas and
intervals ri time heretofore dividfn.
tariff r"Nisi"ns, we may 90 forward
along IN" sam" conservative lines
Secretary MacNeagh predicted that
the tariff board would prove itself
competent 1" cope with any situation
which would he proper fur a tariff re-
vision, H. declared h. believed il n
great mistake to minimize that part
"f III" recent tariff legislation.