The Monmouth inquirer. [volume] (Freehold, N.J.) 1865-1933, 1909-08-12
PRESIDENT SIGNS
The TARIFF BILL
New Rates Become Effective
Immediately.
SENATE VOTE Al TO 81.

Seven Republicans Oppose the Meas
urs at the Last and 1t Gets No DEM
ooratic Support-concurrent Resolu-
ton Making Certain Changes In
Il Leather Schedule Passes Both
Hous.s-Tsft Gives Out His Reasons
For Signing the Bill.
washington, Aug. 1.-THE Payne
Aldrich tariff bill was adopted Dy the
senate by a vote of AZ to 81, was sign
ed by President Taft and became q
law. The concurrent resolution max
ing certain changes in the leather
schedule was adopted by both houses.
On the final tariff vote seven Repub-
leans voted against the report, as FOL
lows: Beveridge, Indiana; Brstow,
kansas: Clapp, Minnesota: Cummins.
Iowa; Dolliver, Iowa: La Toilette. WIS
consin: Nelson, Minnesota. No Demo
crat voted for the BILL
The following statement was given
out by President Taft:
"I have signed the Payne tarin Dill
because i believe it to be the result OF
a sincere effort on the part Of the Re
publican party to make downward
revision and to comply with the prom
ises of the platform as they have been
generally understood and as | inter
preted them in the campaign before
election.
"The bill is mot perfect tariff bill
or a complete compliance with the
promises made strictly interpreted, but
a fulfillment free from criticism In re-
spect to a subject matter involving
many schedules and thousands or arti-
cles could not be expected.
at suffiees to say that, except with
regard to silks and as to some high
classes of cottons, all of which may be
treated as luxuries and proper sub
iects of a revenue tariff, there have
been very few increases in rates.
"There have been great number of
real decreases in rates, and they con-
stitute sufficient amount to justify
the statement that this bill is sub
SIdUlldl
duction of excessive rates.
''This is not a free trade bill. It was
not intended to be. The Republican
party did not promise to make free
trade bill.
ut promised to make the rates pro-
tective, but to reduce them when Mey
exceeded the difference between the
cost of production abroad and here
making allowance for the greater nor
NAL profit on active investments here.
II believe that. while this excess has
not been reduced In a number of cases,
| in a 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 posi-
bility of the importation of the foreign
article and thus to prevent excessive
prices.
"The power granted to the executive
under the maximum and minimum
clause may be exercised to secure the
removal of obstacles which have been
interposed by foreign governments in
1 the way of undue and unfair discrim-
! nation against American merchandise
and products
''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, un-
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 the operation of the
present tariff and be of primary i'm
| portance as officially collected data
| upon which future executive action
and executive recommendations may
be based.
1.-THE corporation tax is just and
equitable excise measure, which it is
hoped will produce a sufficient amount
to prevent deficit and which Incl
dentally viii secure valuable statistics
and information concerning the many
corporations 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"
| Following his labors on the tariff
question, the president Joined his fam
/ Ny at Beverly, Mass.