New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1910-12-07

4ury utpaTlIneu
Very great Improvements have been
made in respect to the minis and as
say Offices. Diminished appropriations
have been asked for those whose con-
tinuance is necessary, and this.
years estimate of expenses is 1926, 600
less than two years ago.
In the bureau of engraving and
printing great economies have been
effected Useless divisions have been
abolished, with the result of saving
$4,000 this year in the total ex-
penses of the bureau despite increased
business.
Revenues.
AS the treasury department is the
one through which the income of the
government is collected and its expen-
ditures are disbursed this seems a
proper place to consider the operation
of the existing tariff bill, which be
came "a law Aug. 6, 1910. AS an in
come producing measure the existing
tariff bill has never been exceeded by
any customs bill.
The corporation excise tax, proper
toned to the net income of every bust.
ness corporation in the country, has
worked well. The tax has been easily
collected. It's prompt payment indi-
Gates that the incident of the tax has
not been heavy. 1t offers, moreover,
an opportunity for knowledge by the
government of the general condition
and business Of all corporations, and
that means by far the most important
part of the business of the country In.
the original act provision was made
for the publication of returns. This
provision was subsequently amended
by congress and the matter left to the
regulation of the president. / have di-
rected the issue of the needed regula-
tons and have made it possible for the
public generally to know from an ex-
animation of the record the returns of
all corporations the stock of which is
listed on any public stock exchange or
is offered for sale to the general pub
lie by advertisement or otherwise. The
returns Of those corporations whose
stock is not so listed or ordered for
sale are directed to be open to the in
spection and examination of creditors
and stockholders Of the corporation
whose record is sought. The returns
of all corporations are subject to the
inspection of any government officer or
to the examination of any court, in
which the return made by the corpora
ton is relevant and competent evil
dence. ...
The Payne Tariff Bill.
The schedules of the rates of duty
in the Payne tariff act have been sub.
jected to a great deal of criticism,
some of it just, more Of it unfounded,
and to much misreprese The
act was adopted in pursuance of a dec.
laration by the party which is respon-
sible for it that customs bill should
be tariff for the protection of home
Industries, the measure of the protec-
ton to be the difference between the
cost of producing the imported article
abroad and the cost of producing it at
that difference as might give reason.
able profit to the home producer.
The basis for the criticism Of this
tariff is that in respect to number of
the schedules the declared measure
was not followed, but a higher differ
ence retained or inserted by way of
undue discrimination in favor of GER
ind frin FOR A.
Little, if any, of the criticism of the
tariff has been directed against the
protective principle above stated, but
the main body of the criticism has
been based on the charge that the at
tempt to conform to the measure of
protection was not honestly and sin
cerely adhered to.
Tariff Board.
The time in which the tariff was
prepared undoubtedly was so short as
to make it impossible for the congress
and it's experts to acquire the informa-
ton necessary strictly to conform to
the declared measure. In order to
avoid criticism of this kind in the fu-
ture and for the purpose of more near,
ly conforming to the party promise
congress at it's last session made pro-
vision at my request for the continu-
( ance of board created under the au-
thority of the maximum and minimum
clause of the tariff bill and authorized
this board to expend the money appro.
priated under my direction for the as.
certainment Of the cost or productlon
at home and abroad of the various art
icles included in the schedules Of the
tariff The tariff board thus appoint
ed 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