Perth Amboy evening news., 1910-12-06

b e ~
rected the issue of the needed regula-
tions 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 offered 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 b
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 Act.
The schedules Of the rates of duty
In the Payne tariff act have been sub
jeeted to q great deal of criticism,
some of 1t Just, more of 1t unfounded,
and to much Misrepresentation. The
act was adopted in pursuance Of q
declaration by the party which Is re-
sponsibIe for 1t that q customs bill
should be a tariff for the protection
Of home industries, the Measure OF the
protection to be the difference between
the cost of producing the imported ar
ticle abroad and the cost of producing
1t at home, together with such addt-
ton to that difference as might give
q reasonable profit to the home pro-
Queer.
TAe basis for the criticism of this
tariff is that In respect to a 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
tain Industries and manufactures.
Little, IL 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 conform to the measure of protec-
ton was not honestly and sincerely ad-
hered to.
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 informa-
ton necessary strictly to conform to
the declared measure. In order to avoid
criticism of this kind In the future and
for the purpose of more nearly conform
ing to the party promise congress at Its
last session made provision at my re-
quest for the continuance of a board ere
ated under the authority OF the maxi
mum and minimum clause of the tariff
bill and authorized this board to expend
the money appropriated under my di-
rection Tor the a~scertainment Of the
cost of production at home and abroad
of the various articles Included In the
schedules of the tariff. The tariff
board thus appointed and authorized
has been diligent in preparing Itself for
the necessary Investigations. The hope
of those who have advocated the use
of this board for tariff purposes is that
the question of the rate of a duty Inn
posed shall become more of a business
question and less of a political ques-
ton, to be ascertained by experts of
long training and accurate knowledge.
The halt In business and b shock TO
business due to the announcement that
a new tariff bill Is TO be prepared and
put In operation will be avoided by
treating the schedules one by n as
occasion shall arise for q change In the
rates Of each and only after a report
upon the schedule by the tariff board
competent to make such report.
1t is not likely that the board viii be
able to make a report during the pres
ent session of congress on any or the
schedules, because a proper examina'
ton involves an enormous amount Oh
detail and a great deal of care. but
hope to be able at the opening of the
new congress, or at least during ths
session Of that congress. to bring Il
its attention the facts in regard t.
those schedules In the present tariff
that may prove TO need amendment.
The carrying out of this plan, o.
course. involves the full cooperation
VI OhSANS III AAAA4tiAE tlS IO1ctdSA q
ton In tariff matters TO one schedule
at a time, because if.a proposed amend
ment to a taritf bill is to involve {
complete consideration Of all tbs
schedules and another revision ther
we shall only repeat the evil from
which the business Of this country hai
in times past suffered most grievousl,
, by s~tagnation and uncertainty. pend
ing a resettlement of a law affectin,
all business directly or Indirectly. an,
the effect of which no wise business
man would ignore in new projects an,
new investments.
The inquiries which the members .
the tariff board made during the las
summer into the methods pursued b,
other governments with reference t
the fixing Of tariffs and the determine
ton OF their effect upon trade shoI
that each government maintains an d
! fee or bureau, the officers and en-
pioyees Of which have made their llf
work the study Of tariff matters. Q
: foreign ana home prices and cost 6
: articles imported and the effect o. th
! tariff upon trade. 80 thai whenever
! change IA thought to be necessary
. the tarin Jaw this once Is the soure
Of The ma reliable information IS !
NAH