The sun., 1910-02-13

have been entered free. while under the
four years preceding for the same six
months the free list amounted to 45 46
per cent. of the total importations, so
there was not only reduction OF duty
on dutiable imports of about II per cent.
but also an enlargement OF about the same
percentage Of the free list.
For the production Of revenue under the
Payne law is even more an Improvement
on the Dingley bill. During the siS months
that the Payne tarih Was in force, from
August to the night ot February ), the
customs receipts amounted to Sloo.O03, :
$50 81. Under the Wilson -Corman tarin
the semi-annual average was tS3, ,li7. CPS 80
Under the Dingley tariff the semi,annlal
average was $3.50. .e85, ,s4l.s4. Under the
Wilson tarin the monthly average was
tl3, ,s57, ,937 .85. nder the Dingley tarin
the monthly avera ge was Hi .7iO,S ,SS.o4;
while under the Payne tarif the monthly
average has been 81, 7,6G1,1 - IS, OF 100 per
cent greater than the monthly svera ge
under the " ilson tarin. and 20 per cent.
greater than the monthly average under
the Dinrley tam
OF course as the country increases in
population the customs receipts increase.
but even considering the population, the
increase in the tarin receipts has been
marked Under the Wilson tsrn the
average annual customs receipts per
capita were S2.Ss: under the Dingley
tariff 1929, while under the Payne tarif
thev are 1911,
DEFICIT WILL BE- WIPED our,
For the six months that the Pawn g
tariff has been in force the total receipts
both from customs and internal revenue
have been 1929, 500 .23i.pl, while the dis
bursements have been S332. IS3. .2s3. .OS
showing that the expenditures exceeded
the receipts by only ss.sS4, ,0j1.I7. with
no collection as yet from the corporation
tax. For the corresponding period last
year the expenditures exceeded the
receipts by over $40 O0O. 900 This show
ing Indicates that under the present
customs law the deficit will he promptly
wiped out and that TO meet our normal
expenditures we shall have ample revenue.
therefore venture TO repeat the remark
have had occasion to make before,
that the present customs law is the best
customs law that has ever been passed.
and il is most significant in this that il
indicates on the part OF the Republican
party the adoption of a policy to change
from an increase in duties 70 a reduction
of them and 70 effect an increases oil
revenues al the same time.
The act has furnished to the Executive
the power to apply the maximum and
minimum clauses in order to prevent
undue discrimination on the part OF
foreign countries. and this il securing
additional concessions in respect to i'm
positions ON our foreign trade.
The act has done justice to the Philip
pine Islands by giving them free trade
with the United States.
More than all this the new tarif act
has provided for the appointment OF a
tariff board to secure impartial evidences
upon which when a revision Of the tarIh
seems wise We shall have at hand the
data from which can be determined with
some degree Of accuracy the difference
between the cost Of producing articles
abroad and the cost Of producing thcuI
in this country.
The great dificulty in the hearing and
discussion Of the present tarin bill was the
absence Of satisfactory and credible evil
dence on either side Of the issues as to low
or high tariffs. The importer on the one
hand and the manufacturer on the other
were present to give their fallible judg-
cuniary interests as to the facts under
investigation. Men who were struggling
to find the truth we're greatly perplexed
by the conflicting testimony.
The tariff bill authorizes the President
to expend $4,000 in employing persons
to assist him in the administration OF the
maximum aud minimum clause aud TO
assist him and other officers OF the Govern
ment in the administration OF the tariff
Law. have construed this to mean that
may use the board appointed under this
power not only to look into the foreign
D.
with respect to each item in our tariff bill.
what the cost OF production of the mer-
chandise taxed is and what its cost il
abroad. This is not an easy task for i'm
partial experts. and it requires a large
force expect to apply to Congress this
force through which this investigation
may 20 on and the results be recorded
for the use OF the Executive and Congress
when they desire to avail themselves OF
the record. In this way any subsequent
revision may be carried on with the aid
gard to its argumentstive effect upon the
question Of raising or lowering duties.
Taken as a whole, therefore, | do not
hesitate to repeat that the Republican
party has substantially complied with its
promise ia respect to the tariff aud that
II has set itself strongly in the right direc-
ton toward lower tariffs and furnished
the means by which such lower tariffs can
be properly aud safely fixed.
An investig CATION by the tarih board of
the sort proposed will cert inly take full
two years or longer. Meantime the
to be consistent with the prosperity Of the
country and with the furnishing of suffi-
cent funds with which to meet the very
heavy but necessary expenditures of
carrying on our great Government.
POSTAL SAVINGS BANKS.
The Republican national platform con-
tanned the following:
We favor the establishment OF a postal
savings bank system for the convenience
OF the people and the encoura cement OF
thrift.
A bill has been introduced to establish
a postal savings bank. The great ditfi-
Guilty in the bill seems to have been to
secure "a proper provision for the manage
ment and investment of the money de-
posted. The great advantage of a postal
savings bank is the encouragement to
thrift of those whose fears OF the SOL
vency of any depository except a Gov
ernment depository tempts them away
from saving. A Government prom ise
to repay seems TO be specially effective
in leading people to save and deposit
their savings The machinery OF the
PostsO Oflce with its 90. 900 post Offices and
a, 900 money order Offices. offers an eco
nomical and far reaching machine for
the reception inplaces remote from banks,
and among people who fear banks. OF that
which but for the opportunity they would
not save but spend The low interest
offered to it. that of per cent. prevents
such postal savings banks from interfer-
ing with regular savings banks whose
rate of interest always In in excess OF 2
per cent. In the present stage OF the Sem
ate bill there have been inserted amend
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