The Detroit times., 1910-12-06


Is listed on any public stock eNchings
OF - offered for sale 10 the genera
public by adye easement OF otherwise
The returns OF those corporations
whore stock IN not SO listed or ouered
Tor sale are directed TO he open 10 the
inspection and examination of creditor
aud stockholders OF the corporation
whose record Is sought. The returns
OF all corporations are subject 10 the
inspection or any government onlctr
which the return made by the corpora
ton Is relevant ana competent eVi-
dence.
The Payne Tsrin Act.
Tho schedules OF tho rates OF duty In
the Payne tariff act have been subject
-eu 10 "a srent deal OF criticism. some oN
IL Just, more OF 10 uufoundcd ANA I'll
mucn rlisreEresentation The act was
udopted I'm pursuance of declaration
bS the party which Is responsible for
II that customs bill should be a tariif
Tor the protection OF home industries.
tne measure or the protection Ia he the
ditcrohce between the cost Of produc-
ING the imported article abroad and the
cost or producing IL "A. home. together
Win such addition To that difference
as might give reasonable pront Ia
the home producer. The basis for the
criticism OF this tarin ~ that in re-
spect Ia a number OF the schedules tie
declared measure MAS not followed.
but higher difference retained or In =
serted by way of undue discrimination
In tavor OF certain industries and mnn-
fractures Little. III dny,-of the crltl-
cism Of the tariff has been directed
against the protective principle above
statedi but the main body OF the critl-
cism mas been based on the charge that
the attempt To- conform TO the measure
or protection was not honestly aud sin
cetcly adhered TO.
Tarin hoard.
The time In which the tariff was pre-
pared undoubtedly was short as 10
make II impos sibls for the congress
and its experts TO acquire the inIor-
nation necessary strictly 10 CONFORM
TO the declared measure. IL order 10
avoid criticism If this kind In the fu-
ture and for The purpose OF more nearly
conforming TO the party promise, con-
Sres& at It's last session made pro-
vision IT my request for the continu-
ance OF "A board created under the au-
thor.ty OF the maximum and minimum
clause OF the tartn bin, aud authorized
tnis board 10 cNpsnd the money ap-
propriated under my direction for the
ascertainTLent OF the cost OF produc-
tion II nome and abroad OF the various
articles Included IN the schedules or
the tarin. The tari1 board th1s ap-
pointed and authorized has been dill
gent III preparing itself for the necss-
sary Investigations. The hope OF those
who have advocated the Use OF this
board for tariff purposes is that the
question Of the rate Of n duty imposed
shall become more OF a business ques
ton and less OF political question. 10
be ascertained by experts OF long
training and accurate knowledge. The
halt In business and the shock TO bust
ness. due TO tile announcement that A
new tarin bill Is TO be prepared and
treating the schedules one by one as
occasion shall arise for change In the
rates OF each. AMI only after a report
upon the schedule by the tariff board
competent TO make such report IL Is
not likely that the board will he able
to make a report during the present
s~sslon or congress oil any of the
schedules, because proper eNamind =
ton involves an enormous amount or
dotail and great deal OF care; but |
Eope 70 be able 1T the opening Of the
new congress. or at least during the
session OF that congress, TO bring 10
it, attention the facts in regard Ia
those schedules in the present tariff
that may prove to need anne ndment.
The Carrying out OF this plan, OF
course, involves the full cooperation
OF congress In limiting the considera-
ton In tariff matters TO one schedule
at time, because n a proposed amend
ment 10 tariff bill Is To involve a
complete consideration OF all the
schedules and another revision, then
we shall Only repeat the evil from
which the business OF this country has
In times past suffered most grievously
BY stagnation and uncertainty. pend
ing "a resettlcmcnt OF law affecting
all business directly or indirectly and
the effect Of which no wise business
man would ignore In new projects and
new Investments. l can not too much
emphasize the Importance and benefit
OF the plan above proposed for the
treatment of the tariff II facilitates
the removal OF noteworthy defects In
an important law without u disturb
ance or business prosperity, which is
even more important 10 the happiness
and the comfort or the people than the
elimination OF Instances OF injustice in
the tariff.
The inquiries which the members Of
the tariff board made during the last
sumner into the methods pursued by
other governments with reference 10
the fixing OF tariffs and the determine
tion or tnelr effect upon trade, show
that each government maintains an
office or bureau, the officers and ON
ployes OF which have made their life
work tho study of tariff matters. OF
foreign and home prices and cost OF
articles imported, and the effect OF the
taTin upon trade, so that whenever 4
change is thought TO be necessary In
the tariff law this office Is the source
OF the most reliable Information as TO
the propriety OF the change and It's
effect | am strongly convinced that
we need In this government just such
an office. and that IL can be secured
by making the tariff boar already APP
pointed a permanent tariff commission.
with such duties, powers. and emolu-
mcnts rs IL may seem wise to con
gress to give. Ii has been proposed
to enlarge the board from three to
five. The present number II convent
ent but / do not know that an In
crease OF two members would be OBJ
lection able.
Whether or not the protective policy
is to be continued and the degree Of