The Denison review. [volume] (Denison, Iowa) 1867-current, 1910-08-31
PRESIDENT TAFT'S
TALK ON TARIFF
Points Out the Good and Bad Features
Of the Payne Law, but Stands bq
His Former utterances.
STATES REPUBLICAN PROGRAM
Schedules to be Revised One at a
Time as Tariff Commission Re
ports Results Of Payne Law.

The following is from President
Taft's letter to the people concerning
the present tariff law and the repub.
lican program for the future:
LET us consider, summarily, the
promises made and the legislation en-
acted by the present congress: First
and of primary importance was the
promise to revise the tariff In accord
ance with the rule laid down in the
platform, towit: that the tariff on ar
ticles imported should be equal to
the difference between their cost OF
production abroad and that cost in
this country. including reasonable
profit for the domestic manufacturer.
A very full investigation full. at
least, as such investigations have
been conducted in the past was made
by the ways and means committee
Of the house to determine what rates
should be changed to conform to this
rule. A reduction was made in 654
numbers, and an increase In some 22O
while 1850 remained unchanged. The
bill was amended in the senate, but
the proportion Of increases to de-
creases was maintained.
Quotes Message Of Approval.
When signed the bill. / accom-
panied my approval with the follow
ing memorandum:
u 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 downward
revision and q complete compliance
with the promises of the platform as
they have been generally under
stood. and as interpreted them in
the campaign before election.
The bill is not perfect tariff bill,
or q complete compliance with the
promises made strictly interpreted,
but q fulfilment free from criticism
in respect to subject matter involv.
ing many schedules and thousands Of
articles could not be expected. 1t suffic
es to say that except with regard to
whisky, liquors and wines, and In re.
gard to silks and as to some high
classes of cotton all Of which may
be treated as luxuries and proper sub
jects Of revenue tariff thafe have
been very few increases In rates
There have been great number o.
real decreases in rates, and they con
stitute a sufficient amount to Justify
the statement that this bill is sub
stantial downward revision, and re-
duction of excessive rates. This Ii
not a free-trade bill. It was not in.
tended to be. The republican party
did not promise to make a free-trade
bill. It promised to make the rates
protec tive., but to reduce them when
they exceeded the difference between
the cost of production abroad and
here. / believe that while this ex.
cess has not been reduced in mum.
Der OF cases, IN great majority the
rates are such as are necessary to
protect American industries, but are
low enough in case OF. abnormal in.
crease Of demand, and raising 81
prices. to- permit the possibility Of
the importation of the foreign article
and thus to prevent excessive prices
The power granted to the execu.
tive under the maximum and mini.
mum clause may be exercised to az.
cure the removal Of obstacles which
have been interposed by foreign gov.
ernments in the way of undue and I'M.
fair discrimination against American
merchandise and products.
THE Philippine tariff section
have struggled to secure for ten wears
last past, and it gratifies me exceed.
lngly by my signature to give it the
effect of law ! am sure it will greatly
increase the trade between the two
countries, and it will do much to build
up the Philippines in a healthy pros.
perity.
Ila Il s.osx T.