The Plymouth tribune. (Plymouth, Ind.) 1901-1911, 1910-02-24
BY United Press.


coin day dinner in New York declared /
that. IF the enforcement of the law IS
not consistent with present methods Of
carrying on business. then the bust /
ness methods must be changed to con-
form with the law
over 1000 Republicans were present /
In the banquet rooms. President Taft 4
was the first speaker. beginning his adj +
dress at the close of the dinner. He /
opened il with the following tribute to i
til slain President:
The birthday of the man whose mem
DRY We celebrate tonight is an appro-
pirate occasion for renewing our EXPIRES
slons of respect and affection for the Re
publican party and our pledges 10 keep
the part which IL plays in the history of
this country as high and useful as it
vas during the administration of Abra-
ham Lincoln. The trials which he had 10
undergo IS President. the political storms
which the party had TO weather during
the Civil War. the division of the party
itself between the radical anti-slaVeTy ele-
ment and those =. no were most conserVa-
tive in observing the constitutional lirni-
tatlOnS, are most interesting reading.
They serve to dwarf and minimize the
trials through which the Republican par
II Is now passing and restore the sense
OF proportion TO those who allow them
selves 10 be daunted and discouraged in
the face OF a loss of popular confidence
thought to be indicated by the tone OF
the press
ringing eulogy of the Payne-AldrieI
tariff law and a detailed defense of the
present administration occupied a great
part of the lengthy speech
the 5 tstfor went over aot the 8epToeh an
plank. and pointed out how. step
by step. the administration was work
ing toward sulflment of its
pledges. He took the stand that the
Payne bill made a substantial revision of
toe tariff and quoted statistics TO prove
that since the law went into effect there
had been a considerable decrease in
duties.
VIII Blame Tarin.
But the President admitted that the tar
in bill is going to be blamed by the Dem
ocrats for the high cost of living which
viii be ne admits. a vital issue in the
congressional cam~aign next fall. And
we must not be blind % the weight of
such argument. he told the Republi-
cans After a lengthy argument intend
ed to prove that the Payne-Aldrch bill
was the best tariff law ever inaugurated
in the United States. On the Wall street
subject the President said:
From time to time attacks are made
upon the administration on the ground
Wall street and disturb business. All
have to say uDcn that subject is this
That certainly no one responsible for
q government like ours would foOllShly |
run amuck in business and destroy values
and confidence just for the pleasure of
doing so. 1t does rest with the national
administration to enforce the law, and If
the enforcement of the law is not con-
<istent with the present methods of doing
business then it should not speak well for
the present methods of conducting bust
ness and they should be changed to con-
form with the law. There was no prom
Use on the part of the Republican party TO
change the antitrust law except 10
strengthen it, or to authorize monopoly
and a suppression of competition and the
control OF prices and those who look for
ward to such change cannot visit the
responsibility for their mistake on inno-
cent persons l.
Further on the President praised Gov
ernor Hughes. who was present charac-
terizing him the greatest asset OF the
Republican party in New York State
The postal savings bank and the party
pledge on that subject led the President
into discussion of the bill now before
Congress. He said that those who are
sndeavoring to amend the bill to allow
the money deposited TO be kept as saw
ings in banks under trustees who shah
have no power 10 use the funds and to
allow the funds to be deposited in state
and national banks indiscriminately are
prejudicing their party integrity
Made Many Decreases.
Speaking of the tariff revision the
President said:
I'VE did revise the tariff Nothing was
expressly said in the platform that this
revision was TO be a downward revision
The Implication that Ii was to be gener-
ally downward however was fairly given
by the fact that those who uphold the |
protective tariff system defend IL by the
claim that after an industry had been
established by shutting Off foreign COM
petition. the domestic competition will
lead to the reduction in price so as TO
make the original high tariff unnecessary
In the new tariff there are 654 de-
creases, 22O increases and 1.150 items of
the dutiable list unchanged. but this did
not represent the fair proportion in most
of the reductions and increases because
the duties were decreased on those arti-
cIes which had a consumption value OF
nearly 5000. 600. 900. while they We're in
creased on those articles which had con
sumption value of less than $1,000. 600. 900 |
Certainly IL was not promised that the
rates on luxuries should be reduced. The
revenues were falling off, there was a
deficit promised and II is essential that |
the revenue should be increased. 1t was
no violation of the promise to increase |
the revenues by increasing the tax on
luxuries provided there was downward re-,
vision on all other articles"
Comparing the results of the Payne
Aldrich bill with the Dingley tariff. the
President said:
.srhe bureau of statistics Is authority |
for the statement that during the first six
months OF operation of the Payne law |
which has just ended, the average rate of
duty paid on all dutiable imports was
81 09 per cent ad valorem- The average
rate of duty paid on all imports for the
same six months for the four proceeding
years under the Dingley law was 2f-06-
This would show that the reduction in the
Payne law is 294 per cent of the value
of the goods that the reduction below
the previous tariff rates is 10 per cent,
showing downward revision OF TINS
extent in those goods which are dutiable.
For the production of revenue the
Payne law is even more Improvement on
the Dingley bill. During the six months
that the Payne tariff was in force the |
int fa6 n -
5000 Under the Dingley bill the semi
annual averoge was siSO.265.s41.64.'
The postal banks project was then TAX
{" 'p Fnvors Postal Bank.
The Republican national platform con-
tanned the following:
I'VE favor the establishment of a postal |
savings bank system for the service of
the people and the encoura cement of |
thrift.
"A bill has been introduced for postal
savings bank. The great difficulty i'm the /
bill seems to have been to secure proper |
provision for the management and invest |
ment of the money deposited. The great |
advantage Of a postal savings bank is the |
encoura cement to thrift of those whose |
fears of the solvency of any depository |
except a government depository temDts |
them away from saving. government |
promise to repay seems to be especially |
effective in leading people to save and de- |
post their savings. The machinery OF 1
The postofIice. with it's $4,000 pOstofficas T
ard 10000 money order offices offer ." I
economical and far reaching machine Z
the receipt of money in places remot /
from banks and among people who felr |
banks. the receipts of that which the |
opportunity would not be offered.
The low interest OF per cent prevents |
such postal banks from interfering with |
regular savings banks whose rates OF |
interest is always i'm excess of per |
cent. In the Senate bill there have been |
inserted amendments drawn apparently |
for the purpose of having money thus de- |
posted as savings in government post
offices distributed and deposited In the |
banks. state and NATIONAL. and so 1epos- |
tied to make it impossible for the |
trustees of the furd appointed under the |
law to withdraw the money from invest |
nnent in any other form
Will Defeat Laws.
II regard such an amendment as likely |
lox dro "a |