Perth Amboy evening news., 1910-08-29
TAFT SOUNDS The KEY
NOTE OF CAMPAIGN
CONTINUED from page IL

When I signed the bill I accompanied
my approval with the following memo
randurn;
81 have signed the Payne tariff bill
because I believe 1t to be the result of a
sincere effort on the part of the Republican
party to make a downward revision and
to comply with the promises of the plat
form as they have been generally under.
stood and as l interpreted them in the
campaign before election.
THE bill is not a perfect tariff bill or q
complete compliance with the promises
made strictly interpreted, out a fulfill.
ment free from criticism In respect to a
subject matter involving many schedules
and thousands of articles could not be
expected. 1t suflces to say that excapt
with regard to whisky. liquors and wines
and in regard to silks and as to some
high classes of ~cottons-all of which may
be treated as luXurieS and proper sub
Jects Of revenue tariff-there have been
very few increases in rates. There have
been asgreat number of real decreases in
rates, and they constitute a sufficient
amount to Justify the statement that this
bill is a substantial downward revision
and a reduction of excessive rates. This
is not a free trade bill. II was not in
tended to be. The Republican party did
not promise to make a 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 allow
ance for the greater normal profit on ac-
tive investments here. l 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 cases of abnormal increase of
IarnanI oyl rat1i-- ~ --ioa. 81 $50
the possibility Of the importation of the
foreign article and thus to prevent ex-
ceSsiVe prices.
THE power granted to the executive I'M
der the maximum and minimum clause
may be exercised to secure the removal
of obstacles which rave been interposed
by foreign governments In the way of
undue and unfair discrimination against
American merchandise and products.
The Philippine tariff section L have
struggled to secure for ten years last
past, and 1t gratifes me exceedingly by
my signature to give 1t the effect of law.
l am sure it will greatly increase the
trade between the two countries, and 1t
viii do much to build up the Philippines
in n healthful prosperity.
THE administrative clauses of the bill
and the customs court are admirably
adapted to secure a more uniform and a
more speedy hnaI construction OF the
meaning of the law.
THE authority OF the president to use
agents to assist him In the application of
the maximum and minimum section of
the statute. and to enable officers to adj
mlnistrate the law. gives a wide latitude
for the acquisition, under circumstance
favorable to its truth, of information in
respect to the price and cost of produc-
ton of goods at home and abroad, which
will throw much light on the operation
of the present tariff and be of primary
Importance as officially collected data
upon which future executive action n
executive recommendations may be
based.
"The corporation tax is a- Just and
equitable measure, which 1t is hoped will
produce a sufficient amount to prevent a
deficit and which incidentally secures
valuable statistics and information con
corning the many corporations of the
country and will constitute an important
step toward that degree of -publicity and
regulation which the tendency In corpo-
real enterprises in the last twenty years
has shown to be necessary"
This fairly states the effect of the bill
The bin has been criticised for certain of
its rates and schedules. Some Of the crit
tcisms are just and some are wide of the
mark and most unjust.
The truth is that under the Old pro-
tective idea the only purpose was to
make the tariff high enough to protect
the nome industry. The excess of the
tariff over the difference in the cost of
production here and abroad was not re-
garded as Objectionable because it was
supposed that competition between those
who enjoyed the high protection would
keep the price for the consumer down to
what was reasonable for the manufac-
turer. The evil of excessive tariff rates.
however, showed itself in the temptation
of manufacturers to combine and sim
press competition and then to maintain
the prices so as to take advantage of the
excess of the tariff rate over, the differ
ence between the cost of production
abroad and here.
The Payne tariff bill is the first bill
passed by the Republican party In which
the necessity for reducing rates to avoi6
this evil has been recognized, and 1t Is
therefore a decided step in the right direc.
ton and 1t ought to be accepted as such
On the whole 1t was a downward revision
particularly on articles of necessity and
on raw materials. The actual figures or
the first years operation Of the law dem
onstrates this. 1t must also be remember
ed that the tariff rates In the new law or
imported liquors, wines and silks were in
creased substantially over the Dingley
rates. because these were luxuries, and II
was Intended to increase the revenue.
The charge that the present tariff Is re.
sponsible for the Increase In the prices
of necessities is demonstrably false, be
cause the high prices. with very few ex.
ceptions. aft sci articles in the tariff upor
which there was no increase in rates OIL
in respect to which there was a substan-
tial reduction.
Tariff Board.
Perhaps more important han any zone
feature of the operative part of the tariff
law is that section which enables the ex,
ecutive to appoint a tariff commission OIL