The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1909-08-06
PRES |OENT TAFT
HAS S|GNED.THE
TARIFF BILL
Measure as Reported by Con-
ferees Is Now a Law
CONGRESS HAS ADJOURNED
Chief Executive Says Result Complies
With Platform Promises of Re
publican Party

|
Aldrich tariff bill is now law. The
measure as reported by the confer
ence committee was passed by the
senate yesterday afternoon and sign
ed by President Taft. Both houses OF
Congress have adjourned.
President Taft gave out a statement
embodying his views of the new tariff
act, which he designates officially as
the Payne BILL" in accordance with
past custom of giving first recognit-
ion to the Trainer of the measure in
the House of Representatives
The president declares that while
the bill is not perfect by any means,
nor " complete compliance with pro
misses made strictly Interpreted it is
nevertheless a sincere effort on the
part of the party to make down
ward revision and to comply with the
promises of the platform.
The statement in full follows:
Il have signed the Payne Tariff bill
because | believe it 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 in
terpreted them in the campaign be-
fore election.
The bill is not a perfect tariff bill
or a complete compliance with the
promises strictly interpreted but full
tillment free from criticism In respect
to a subject matter involving many
schedules and thousands of articles
could not be expected. 1t suffices TO
say that except with regard to wills
key, liquors and wines, and in regard
to silks and as to some high classes
of cottons-all of which are to be
treated as luxuries and proper sub
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 a sufficient amount to JUS
tify tne statement that this bill is a
substantial downward revision and a
reduction of excessive rates"
This is not a free trade bill. It
was not intended to be. The Repub
lican party did not promise to make
a free trade bill.
1T promised to make the rates pro
tective, but to reduce them when they
exceeded the difference between the
cost of production abroad and here,
making allowance for the greater nor
NAL profit on active investments here
believe that while this excess has
not been reduced in a number of cas-
es, in a great many the rates are sucn
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 posi-
bility of the importation of the for
eign article and thus to prevent ex-
cessiye prices.
1.-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
nave been interposed by foreign gov
ernments in the way of undue and un-
fair discrimination against American
merchandise and products.
THE Philippine tariff section have
struggled to secure for ten years last
past, and it gratfies 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 il will do much to build
up the Philippines in a healthful pros
perity.
THE administrative clauses of the
bill and the customs court are admir-
ably adapted to secure more uni
form and a more speedy final con
struction of the meaning of the law.
THE authority to the president to
use agents to assist him in the appli-
cation of the maximum and minimum
section of the statute and to enable
officials to administer the law, gives
a wide latitude for the acquisition I'M
der circumstances favorable to its
truth. of information in respect to the
price and cost of production of goods
at home and abroad, which will throw
much light on tae operation of the
present tariff and be of primary I'M
portance as officially collected on data
on which future executive action and
executive recommendations may be
based.
"The corporation tax is just and
equitable excise measure which 1t is
hoped will produce a sufficient amount
to prevent deficit and which tnclden-
tally will secure valuable statistics
and information concerning the many
of the country and Will
constitute an important step toward
that degree of publicity and regula-
ton which the tendency in corporate
Enterprises in the last twenty years
has shown to be necessary"
DESCRIPTION OF MURDERER