The Detroit times., 1910-12-07

il llsted on any public stock exchange
or Is offered for sale TO the general
public by advertisement OF otherwise
The returns OF those corporation
whose stock is aot SO listed or offered
Tor sale are directed TO be open 10 the
inspection and examination of creditors
ana stockholders of the corporation
whose record Is sought. The returns
or alt corporations ar subject TO the
inspection OF any government ofricsI
or 20 the examination q tany court Ia
Whi'h the return made bN the corpora
ton is relevant and competent eNi-
dence.
The Payne Tarin Act.
The schedules OF the rates OF duty In
the Payne tariff act have been subject
ed TO great deal OF criticism, some of
IL Just. more or IL unfounded, and "a
much MISREPRESENTATION. The act was
adopted In pursuance 81 "A declaration
ny the party which Is responsible for
u that customs bill should be tarin
TOR the protection OF home industries,
me measure OF the protection 10 be the
dinerence between the cost OF produc-
ing the imported article abroad and the
COST or producing II at home. together
win such addition TO that difference
as might give reasonable profit 10
the home producer The basis for the
criticism OF this tarin Is that In re-
spect 10 u number OF the schedules the
declared measure was not followed,
put higher difference retained OF in
serted by way OF undue discrimination
in favor of certain Industries and man
fractures. Little. II any. OF the criti
cism OF the tariff has been directed
against the protectiN" principle above
stated. but the main body OF the rriti-
clsm has been based on the charge that
the attemp; TO conform 10 the measure
OF protection was not honestly and SIN
cerely adhered TO
Tsr,n Hoard.
The time in which the tariff was pre-
pared undoubtedly was SO short AS 10
make II Impossible for the congress
and it's experts 10 acquire the intor-
nation necessary strictly Ia conform
To the declared measure IN order 10
avoid criticism of this kind m the fe-
ture and for the purpose OF more nearly
conforming 10 the party promise. con-
grosS at Its last session made pro-
Nisicn at my request for the continu-
ance Of a board created under the au-
thority OF the maximum and minimum
clause OF the tarifr bill. and authorized
this board 10 cNpend the money APP
proprtated under my direction Tor the
| ascertainment Of the cost OF produc-
! ton at home and abroad or the various
articles included IN the schedules OF
the tarin The tarift board thus APP
pointed and authorized has been dill
gent In preparing itself FOR the neces-
sary Investigations. The hope OF those
who have advocated the use OF this
board for tariff purposes is that the
question or the rate OF duty imposed
shall become more OF business Ques-
| ton and less OF a political question. 10
be ascertainec by experts OF long
training and accurate knowledge. The
halt in business and the shock 10 busl-
| ness, due TO the announcement that q
new tarin bill Is TO be prepared anu
put In operation, will be avoided by
treating the schedules one by one as
| occasion shall arise for change In the
rates OF each, AMI only after a report
aKt At.l.a D. hnn FI
competent to make such report. IL IL
not likely that the board will be able
to make report during the present
| session OF congress Oh any or the
ton involves an enormous amount OF
detail and "A great deal OF care. but
hope 10 be able 1T the opening OF the
new congress, or at least during the
| 80 ssion OF that congress, to bring &c
its attention the facts i'll regard &c
| those schedules I'm the present tariff:
that may prove TO need anne ndment
The carrying out OF this plan, OF
course. involves the fun corporation
of congress- in limiting the considera
| ton in tarifr matters To one schedule
at time. because IL proposed amend
ment to tariff bill is TO involve G
complete consideration OF all til,
schedules and another revision. ther
we shall only repeat the evil from
which the business OF this country ha;
In times past suffered most grievously
ing Iesettlement or a law arectins
all business directly or indirectly. anC
the effect of which no wise business
man would ignore in new projects anC
new Investments. / can not too mucl
| emphasize the Importance and bench
OF the plan above proposed for tn,
treatment OF the tariff. It facilitates
the removal or noteworthy defects II
an important law without a disturb
ance Of business prosperity which 81
even more important to the happines
and the comfort OF the people than tn,
elimination OF instances OF injustice II
the tariff.
The inquiries which the members o
the tarir board made curing the las
summer into the methods pursued b.
other governments with reference 4
the fixing OF tariffs and the deterrnina
tion Of their effect upon trade. shos
that each government maintains al
office or bureau, the officers and EN-
ployes OF which have made their III,
work the study of tariff matters o
foreign and home prices and cost .
articles imported. and the effect OF tn,
tariff upon trade so that whenever
change IL thought TO be necessary II
the tariff Law this office is the sourc,
OF the most reliable information as q
the proprietv OF the change and III
effect. am strongly convinced tina
We need In this government just sucl
an office. and that II can he secured
by making the tariff board already APP
PORTED permansn tariff COMM S 9 on
| with such duties. powers. and emolu
ments as IL NAV seem wise to con
gress to give IL has been propose,
10 enlarge the board from three I,
Ave. The present number Is convent
ent. but i do noC know that an Ia
| crease OF two members would be oh
jectionabl
is TO be continued. and the degree o.