The Owosso times. (Owosso, Mich.) 1897-1926, 1909-08-13
Party Pledges Redeemed Declares
President Taft.


After signing the new tariff act,
which he designated as the Payne
bill. President Taft issued the fol-
lowing statement:
81 have signed the Payne bill be-
cause / believe 1t to be the result of
sincere effort on the part of the
Republican party to make a down
ward 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 or a complete compliance with
the promises made, strictly inter-
preted, but fulfillment free from
criticism in respect to a subject mat
ter involving many schedules and
thousands of articles could not be
expected. 1t suffices to say that, ex-
cept with regard to whisky liquors
and wines and in regard to silks and
as to some nigh classes of cotton
all of which may be treated as lux
uries and proper subjects of a re-
venue tariff-there have been very
few increases in rates. There have
been a great number of real de-
creases in rates, and they constitute
a sufficient amount to justify this
statement that this bill is a substan-
tial downward revision and a reduc-
tion Of excessive rates.
Not Free Trade Bill.
This is not free trade bill.
1t was not intended to be. The Re-
publican party did not promise to
make free trade bill. 1t promised
to make the rates protective, but to
reduce them when they exceeded the
difference between the cost of pro,
duction abroad and here, making
allowances for the greater normal
profit on active investments here.
81 believe that while this excess
has not been reduced in a number Of
cases, in great majority the rates
are such as are necessary to protect
American industries, but are low
enough, in case of abnormal increase
of demand and raising Of prices, to
permit the possibility of the importa-
ton of the foreign article and thus
to prevent excessive prices.
''The power granted TO the exec
utive under the maximum and mini
mum clause may be exercised to Sc
cure the removal of obstacles which
have been interposed by foreign gov>
ernents in the way of undue and un-
fair discrimination against Ameri-
can merchandise and products.
Gratified Over Philippine Tariff.
"The Philippine tariff section |
have struggled to secure for ten
years last past, and it gratifies me
by my signature to give
it the effect of law l am sure it
will greatly increase the trade be-
tween the two countries, and it will
do much to build up the Philippines
in healthful prosperity.
"The administrative clauses of the
bill and the customs court are adj
adapted to secure more
and more speedy final
of the meaning of the
law.
THE authority to the president to
use agents to assist him in the APP
plication of the maximum and MINI
mum section of the statute, and to
enable officials to administer the law,
gives wide latitude for the acqui-
sition. under circumstances favor
able to it's truth, of information in
respect to the price and cost of pro-
1uction of goods at home and abroad
which will throw muoh light on the
operation of the present tariff, and
De of primary Importance as official
y collected data upon which future
action and executive rec
may be based.
''The corporation tax is a just
md equitable excise measure, which
t is hoped will produce sufficient
account to prevent deficit, and
which, incidentally, will secure val
liable statistics and information con-
,erning the many corporations of the
country and will constitute an im>
,ortant step toward that degree Of
publicity and regulation which the
endency in corporate enterprises in
he last twenty years has shown to
,e necessary"