Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1910-12-06

! whose STOCK is not so 1SteQ OF OHefeu
| for sale are directed to be open TO the
! inspection and examination of cred
! itors and stockholders Of the corpora
! ton whose record is sought. The re-
! turns of all corporations are subject to
the inspection OF any government off,
Ger or TO the examination of any court
! in which the return made by the cor
/ poration is relevant and competent evil
dence.
The Payne Tariff Act.
! The schedules of the rates of duty
| in the Payne tariff act have been sub
/ jected to great deal of criticism. some
of it just, more of il unfounded, and to
much misrepresentation. The act was
/ adopted in pursuance of a declaration
| by the party which is responsible for
/ it that customs bill should be tariff
! for the protection of home industries.
! the measure of the protection to be the
/ difference between the cost of produc-
! ing the imported article abroad and the
cost of producing it at home, together
with such addition TO that difference
as might give reasonable profit to the
! home producer.
! The basis for the criticism of this
| tariff. is that in respect to Il mum Der of
! the schedules the declared measure was
not followed, but a higher difference
retained or inserted by way of undue
/ discrimination in favor OF certain in
dustries and manufactures. 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 attempt TO con-
form to the measure of protection was
not honestly and sincerely adhered tn
| Tariff Board.
! The time in which the tariff was pre-
pared undoubtedly was so short as to
| make it impossible for the congress and
! its experts to acquire the information
necessary strictly to conform to the de-
clared measure.
In order to avoid criticism of this
kind in the future and for the purpose
| of more nearly conforming to the party
promise congress at its last session
made provision at my request for the
continuance of Il board created under
the authority of the maximum and min
imum clause OF the tariff and author
lied this board to expend the money
appropriated under my direction for
the ascertainment OF the cost of pro
duction at home and abroad of the va
rious articles included in the schedules
of the tariff. The tariff board thus
appointed aud authorized has been dill
gent in preparing itself for the neces-
Sary Investigations.
The hope of those who have advocat-
ed the use of this board for tariff pur
poses is that the question of the rate
OF a duty imposed shall become more
of a business question and less OF
political question, TO be ascertainCd by
experts of long training and accurate
knowledge. The halt in business and
the shock to business due to the an
Gcu1CcmCnt that Il new tariff bill is to
be prepared aod put in operation Will
DC avoided by treating the schedules
one by one as occasion shall arise for
a change in the rates of each and only
after q report upon the schedule by
the tariff board competent TO make
such report.
It IS not likely that the board will be
able TO make Il report during the pres
ent session of congress on any of the
schedules, because proper examina-
ton involves an enormous amount of
detail and a great deal of care, but I
hope 10 be able at the opening of the
new congress. or at least during the
session Of that congress, TO bring to its
attention the facts in regard to those
schedules in the present tariff that
may prove to need amendment
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 if a proposed amend
ment to a 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 reSettlement 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.
/ cannot too much emphasize the
Importance and benefit of the plan
above proposed for the treatment OF
the tariff. 1t facilitates the removal
of noteworthy defects in an important
law without a disturbance of business
prosperity, which is even more impor-
tant to the happiness and the comfort
of 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
summer into the methods pursued By
other governments with reference to
the fixing of tariffs and the determine
ton of their effect upon trade show
that each government maintains an of
fee or bureau the officers and en-
ployees of which have made their life
work the study of tariff matters, of
foreign and home prices and cost of
articles imported and the effect of the
tariff upon trade. so that whenever g
change is thought to be necessary III
the tariff law this Office is the source
of the most reliable information as to
the propriety of the change and its