Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-06-20

PAYNE law has been misrepreSented by
irresponsible critics, who. in the alb
sence of facts, have had the temerity
to say that it imposed a higher rate OF
duty on imports than most of it's pre-
decessors.
But not only is the average rate I'M
posed on dutiable imports less under
| the Payne law than under any OF ITS
predecessors, but the percentage OF I'M
portations free of duty is larger than
under any previous BILL with the single
exception of the Mckinley law where
the total of free imports was largely
augmented by the fact that sugar was
on the free list The percentage OF
| imports which have come in free under
the Payne law is 1889. Under the
Dingley law it was ABB, and under the
Wilson law 1882. AS has been said,
| the percentage under the Mckinley law
was larger. 53.O4. but this was obvious
| ly due to the inclusion of raw sugar
among the free importations. Elimi-
mating sugar, free importations under
the Mckinley law constituted only
1856 per cent of the total importa-
tions.
THE importation of manufacturers
| materials-that is, materials imported
| in the raw or partially manufactured
state, to be completed in this country
has always been accepted as a criterion
not only of the success of tariff law
but of the prosperity of the period, and
the statistics of the Payne law show
some surprising results in this direc-
ton. There has been a general in
crease all along the line, measured not
in dollars and cents, but in actual
amounts. For instance, the importa-
ton of India rubber has increased in
the nine months for which these fig
ures are given by 24.3S per cent, over
the corresponding period of the year
before. measured in pounds, S4,76S,855
pounds being imported under the
Payne law, as against 68,152,9S5 pounds
in the nine months ended with April,
1909, which was then the high water
mark for this commodity. Hides and
skins, mea sured in pounds, show an in
crease Of 4427 per cent. under the
Payne law. Boards, planks, etc, show
an increase of 26.04 per cent. measured
in feet: copper an increase of 106 per
cent, tin an increase of 1854 per cent,
iron ore an increase in pounds of
1864 per cent, and wool an increase
in pounds of 1856. Crude materials
for use in manufacturing show an in
crease of 1928 per cent, and partially
manufactured goods an increase of
29.7S, the two latter being necessarily
measured in terms of value.
But while the record of impOrta-
tionS of manufacturers materials, OBJ
viously rendered easier under the
Payne law, constitutes an evidence Of
the prosperity of the country it is not
the only evidence. The iron industry
has always been regarded as a pretty
accurate commercial barometer, and it
is interesting to note that in the nine
months with which this dispatch deals
the domestic production of pig iron
amounted to 22,524, 900 gross tons, as
against 14,744,000 in the like period of
the previous year, and 14,334, 600 tons
in the like period of 1907-0S.
Another criterion is the bank clear
ings which form August Z, 1909, to
April 80, 1910, amounted to 1892, S04,-
704,3 as against $112,650, 751, 512 in
the corresponding period of the previ-
Gus year. The individual deposits in
the banks of the country on March 20,
1910, amounted to $5,227, 85l $50, as
against $4,826, 060,4S4 on April %, 1909"
1t is very evident that many have
essayed to criticize the Payne tariff
law without knowing what they We're
talking about, possibly not caring.