Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1910-12-09
NEED OF ECONOMY POINTED OUT
Has Little to Say About the Tariff---Work on
Panama Canal Is Reviewed---No Change
In Anti Trust Laws---lnterstate
Commerce Laws Are Discussed.

These ffugres do not include the
appropriations for the Panama canal,
the policy in respect to which ought
to be. and Is. to spend as much each
year as can be economically and Of
fectively expended in order to com.
plete the canal as promptly as posi-.
BILE, and therefore, the ordinary mo-
tive for cutting down the expense of
the government does not apply to ap-
preparations for this purpose.
Against the estimates Of expendi-
lures, 500, 494 ,013.12, we have estimat-
ed receipts for next year $3.50, 000, 900,
making probable surplus OF ordinary
receipts over ordinary expenditures of
about $50,000,000, or taking into &C.
count the estimates for the Panama
canal. which are s56,920,S47.69, and
which will ultimately be paid In bonds.
1t will leave deficit for the next
year OF about 100000, If congress
shall conclude to fortify the canal"
The Tariff.
The President devotes but little
space to the subject Of the tariff law.
and of 1t he says:
THE schedules of the rates of duty
in the Payne tariff act have been sub
1ected to great deal of criticism,
some Of it just, more of it unfounded,
and to much Misrepresentation. The
act was adopted in pursuance of a
declaration by the party which Is re-
sponsible for it that customs bill
should be tariff for the protection
OF home industries, the measure of
the protection to be the difference be-
tween the cost Of producing the i'm
ported article abroad and the cost of
producing it at home, together with
such addition TO that difference as
might give a. reasonable profit to the
home producer. The basis for the
criticism Of this tariff Is that in re-
spect to number OF the schedules
the declared measure was not follow
ed, but higher difference retained or
inserted by way Of undue discrimina-
ton in favor of certain industries and
manufactures. Little, If any, of the
criticism of the tariff has been direct.
ed against the protective principle
above stated; but the main body OF
the criticism has been based on the
attempt to conform to the measure OF
protection was not honestly and sin
cerely adhered to-
The Tariff Board.
The president refers to the appoint
ment Of board of experts to investi.
gate the cost of production of various
articles included in the schedules OF
the tariff, and says:
THE tariff board thus appointed
and authorized has been diligent in
preparing itself for the necessary In
vestigations. The hope Of those who
have advocated the use Of this board
for tariff purposes Is that the question
Of the rate Of duty imposed shall
become more of q business question
and less Of political question, to be
ascertained by experts Of long train
ing and accurate knowledge. This
halt in business and the shock to bust
ness, due to the announcement that a
new tariff bill is to be prepared and
put In operation will be avoided by
treating the schedules one by one as
occasion shall arise for a change in
the rates of each, and only after re-
port upon the schedule by the tariff
board competent to make such report
1t is not likely that the board will be
able to make report during the pres
ent session Of congress on any of the
schedules, because proper examina-
ton involves an enormous amount OF
detail and a great deal of care; but
hope to be able at the opening Of the
new congress, or at least during the
session of that congress, to bring to
its attention the facts in regard to
those schedules in the present tariff
that may prove to need amendment"
Our Island Possessions.
During the last summer at my
request, the secretary of war visited
the Philippine islands and has de-
scribed his trip in the report. He
found the islands in q state of tran
quillity and growing prosperity, due
largely to the change in the tariff
laws, which has opened the markets
of America to the products of the
Philippines, and has opened the Phil
ippine markets to American manu-
features.
THE year has been one of prosper
lty and progress in Porto Rico.
Panama Canal.
AT the instance of Colonel Goeth-
ais, the army engineer officer in
charge of the work on the Panama
canal, have just made visit to
the Isthmus to inspect the work done
and to consult with him on the
ground as to certain problems which
are likely to arise in the near fu-
ture: The progress Of the work is