Mexico Missouri message., 1910-04-07
Wisdom of New Tariff Measure
indicated Upon Its
Inception.
PRESIDENTS GOOD JUDGMENT
Declaration by Chief Executive That
the Bill is the Best Tariff Law
Ever Passed Has Been Proved
True by Its immedl-
ate Success.

81, the several features of the new
tariff law which did not go into effect
at its enactment became operative.
Among other features was the maxi
mum and minimum clause, and so
efficacious was this new feature of our
tariff law and so diplomatic has been
our president and state department
that It is quite likely that the maxi.
mum rates will not be applied to a
single country. More than 100 proc
lamations have been signed by Presi-
dent Taft granting the minimum rates
to various countries, including all the
important commercial nations.
This result is a distinct victory for
and vindication of the wisdom of the
Republican leaders who framed the
tariff bill and has secured for this
country the best possible rates for our
exports into foreign countries and at
the same time has not in a single in
stance brought on a commercial war
with any of these countries. 1t makes
stronger than ever the statement made
by President Taft and repeated by
other Republican leaders, that the
present tariff bill is the best law we
ever had. For not only have the new
features which were engrafted into
the law been eminently successful, but
the two greatest reasons for a pro-
tective tariff, namely, revenue and pro
lection, have both come to us in sur
prising degrees,
AS for the revenue, 1t can be judged
how successful the new law has been
by the returns up to April 1. A year
ago at this time the receipts from all
sources for the nine months ending
March 81 were about S430,000,000,
while this year they are about $780,
100000, showing an increase of about
$5O,000,000. A year ago the deficit
was over $70,000,000, while at present
1t is considerably under $4,000, 900,
and there seems to be no doubt what
ever that it will be wiped out alto
gether by the end Of the fiscal year,
and that, too, without considering the
receipts from the corporation tax,
which is estimated will be from $685.
100000 to $30.000,00O In fact as a
revenue measure there has probably
never been tariff law on our statute
books that has adjusted itself so readi-
ly and so perfectly to our expendi-
lures. 1t will be admitted that a
large surplus is never desirable, and
of course we should not have a deficit,
but to have the expenditures and re-
ceipts run along about together is just
the desirable attainment that should
ho H. - L. l. L.
result under the law which we are
now operating.
Laws Workings Satisfactory.
1t is complained by many that our
foreign trade has proven that the new
tariff bill was not protective enough
in many of its features. 1t is true that
our imports have increased largely
under its operation and that our ex-
ports have already decreased, making
our balance of trade smaller than for
many years. 1t is not, however, shown
that these increased importations have
to any large extent displaced Amer
lean manufactures. 1t is to be con-
cluded that they are mostly luxuries
and material to be worked up by our
factories. So long as our people con-
tinue to be busy and fully employed
as is the case, Just so long will these
increased importations not be a bur-
den, but will contribute in a degree
to our very prosperity. In some cases,
however, it is apparent that the new
rates of duties have allowed importa-
lions of commodities which we should
prefer to see produced In this country.
Till, however, such a result interferes
with American production and shuts
OF the American factories, we should
not complain. The situation, however,
will be watched closely, and If we find
that the rates in any particular SEIZED
ule are too low there will, of course,
be an agitation for an increase.
But taken as a while, the new tariff
law is working almost perfectly, and
there is no disposition on the part Of
any honest man to have the law
changed for years to come. The dem
Rgogue and the agitator will no doubt
continue to claim that there must be
another revision, but It is noted that
the people at large are well satisfied
with present conditions, and that the
business men throughout the country
would object to any change at present.
Labor Troubles Ending.
It is source of qualification on all
sides that our labor troubles are ad-
iusting themselves, and that employ
ers and laborers are getting together
in all sections of the country. and
through arbitration are adjusting their
differences. 1t is true that in one OF
two instances strikes have been pro
longed and bad feeling engendered
with the consequent losses both to
employers and employees, as well as
to the general public, but for the most
part threatened outbreaks have been
averted and the outlook for the year
was never better.
The question of high prices is still
! an acute one. but at least two conclu-