The Caucasian. (Clinton, N.C.) 188?-1913, 1910-02-17

Addressed Republican Club
at the Annual Lincoln
Day Dinner.
SPOKE ON PLATFORM

Defended the New Tariff Law, Which
He Says Has Been Misrepresented
Trusts Must Obey the Law-Posta
Savings Banks and Other Admin
isfration Measures Discussed-Be
lieves the Party Has Given a Goot
Account of Its Stewardship, and
Thinks the Republicans VIII Sta,
in Power.
New York. Feb. 12.-"If the en-
| forcement of the law is not consist,
ent with the present method of car.
rylng on business. then it does not
speak well for the present methods
OF conducting business and they must
be changed to conform to the law"
This was President Taft's answer
to Wall street. and its cry of panic. u
1t was made to a cheering audience
OF hundreds of prominent Republi-
cans gathered tonight at the annual
Lincoln Day dinner of the Republi-
can Club of this city, held at the
Waldorf-Astoria. Governor Hughes
shared the honors of the evening with
the President.
1t was at the conclusion of a de-
tailed argument as to how the Re-
publican party is redeeming it's
pledges that the President came to a
discussion of the antitrust law and
Wall street, on which his utterances
had been awaited with the greatest
interest. The President declared that
the administration would not "fool-
ishly run amuck in business and de-
stroy values and confidence just for
the pleasure of doing So"
He declared that the administra-
tion "can be counted on to enforce
the law in the way best calculated to
prevent a destruction of public con-
fidence in business, but that it must
enforce the law, goes without say
ing"
Defending the Payne-Aldrich bill,
the President declared that it sub
stantially complied with the party
pledge for tariff revision and that,
through this bill. the party has "set
itself strongly in the right direction
toward lower tariffs
The President quoted statistics to
demonstrate that during the first six
months of the new tariff law, there
has been shown a II per cent reduc-
tion in the percentage ad valorem
duties have paid on imports and IL
per cent increase in the per cent i'm
ports admitted free> Time and q
wider knowledge, he thought, would
serve to justify the bill
He then launched into the defense
Of the tariff bill. quoting first the
Republican platform of the Chicago
convention in 1908. in which revision
was promised.
The Tariff.
1--WE did revise the tariff" said the
President. Nothing was expressly
said in the platform that this was to
be downward revision. 1t was not
downward with reference to silks OF
liquors or high priced cottons in the
nature of luxuries. It was downward
in respect to nearly all other articles
except woolens, which were not at
fected at all. The one substantial
defect in compliance with the prom
ise Of the platform was the failure tt
reduce woolens. Does that defect st
color the action Of the Republican
party as to make it breach of faith
leading to it's condemnation? 7 d.
| not think so. Parties are like men
Revisions, like the work of men, ar
not perfect. The change which thi
tariff affected was a marked chang
downward, a recognition by the part.
that duties must be decreased, tina
the proper measure OF protection
was the difference in the cost IN pro
duction of articles here and abroat
and including a fair profit for tn
manufacturer
| Concerning the criticism of tn
tariff bill. the President referred t.
the reduction on print paper, an
said: 'The failure to make a large
reduction showed itself clearly i
the editorial columns of a great mum
ber of newspapers, whatever thei
: party prediction. The, amount Q
Misrepresentation to which the tari
bill, in it's effect as a downward re
vision was subjected has never bee
exceeded in this country, and 1t wi
2 doubtless take the actual operatio
3 of the tariff bill for several years
4 show to the country exactly what th
e legislation and its effect are"
President Taft then quoted stati
: tics from the government bureau G
the results of the first six months
3 the operation of the Aldrich-PayI
T bill. He showed that the averat
q rate of duty paid on all dutiable IL
y ports for that period was 21.09 p
e cent ad valorem, as compared wi
l. the average for the same mont
e under the Dingley law in the pI
1. vious four years of 24.03, thus sho
i ing a reduction under the new IL
le of 2.94 per cent of the value of t
IT goods, and a reduction below t
previous tariff rates OF II per ce
on dutiable goods. The Preside
also showed that under the Aldris
DIS Payne bill. SIS per cent OF the grt
a imports in the six months were
- farad free wbi1a n, fho fo,,r nrovs<