Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-08-29

my approval with the following. mem
orandum:
| Il have, signed the Payne tariff bill
because I'believe it to be the result OF
a sincere effort on the part Of the Re-
publican party to make a downward
revision. and to comply with the prom
Uses of the platform as they have been
| generally understood, ana as | inter-
preted them in the campaign before
| election.
| THE bill is not a perfect bill, or a
complete compliance with the promises
| made strictly interpreted, but fulfil
ment free from criticism in respect to
subject matter involving many
schedules and thousands of articles
could not be expected. 1t suffces to
say that except with regard to whisky,
liquors and wines, and in regard to
silks and as to some high classes of
cottons-all of which may be treated as
luXuries and proper subjects of a reve-
nue. tariff-there have been very few
increases in rates. There have been
a great number of real decreases in
rates, and they constitute a sufficient
amount to justify the statement that
this bill is a substantial downward re-
rates. This is not a free trade bill. 1t
was not intended to be. The Republi-
can party did not promise to make 4
free trade bill. 1t promised to make
the rates protective, but to reduce
them when they exceeded the differ
ence for the greater normal profit on
active investments here l believe that
while. this excess has not been reduced
| in, nf n
jority the rates are such as necessary
to protect American industries, but are
low enough, in case of abnormal in
crease of demand, and raising of prices,
to permit the possibility of the i'm
| portation of the foreign articles and
thus to prevent excessive prices
THE power granted to the Execu-
tive under the maximum and minimum
| clause may be exercised to secure the
removal of obstacles which have been
interposed by foreign governments in
the way of undue and unfair discrimi-
nation against American merchandise
and products.
THE Philippine tariff section l have
struggled to secure for 10 years last
past. and it gratifes me exceedingly
bv NV signature to give it the effect
| W. /
crease the trade between the two coun-
| tries. and it will do much to build up
the Philippines in a healthful pros
perity.
| "'Tne administrative clauses of the
bill and the Customs Court are admlra-
hly 1apted to secure more uniform
ana a more speedy final construction
| Of tho meaning Of the law.
| "'rhe authority to the President to
| uea age nts n assist him in the applica-
tie.l of the maximum and minimum
sectio, of tie statute. and to enable Of
| fcj3ls to administer the law. gives
wide latitude for the acquisition. under
| circumstances favoraDl to it's truth, of
| information in respect to the circum-
stances favorable to it's truth, of intor-
| matior in resnect to the price and cost
of production Of goods at home ana
abroad. which will throw much light on
the operation of the present tariff ana
be of primary importance as officially
collected data upon which future Exc
cutive action and Executive recon-
mendations may be based.
"The corporation tan IS just ana
| equitable excise measure. which 1t rs
hoped will produce sufficient amount
to prevent deficit and which incident
allr will secure valuable statistics AMI
| information concerning the many cor
| porations OF the country, and Will cor
stitu:e an important step toward that
degree Of publicity and regulation
| which the tendency in corporate en-
terprises in the last u years has shown
| to he necessary"
This fairly states the effect of the
bill The hill has been criticised for
certain Of its rates and schedules Some
Of the criticisms are just and some are
wide of the mark and most unjust.
The truth is that under the old pro-
tective idea the only purpose was to
make the tariff high enough to protect
| the home industry. The excess of the
tariff over the difference in the cost of
| production here and abroad was not
regarded as Objectionable because it
vas supposed that competition between
those who enjoyed the high protection
would keep the price for the consumer
down to what was reasonable for the
manufacturer. The evi! of excessive
tariff rates, however. showed itself in
! the temptation of manufacturers to
con- bine and suppress competition and
| then TO MAINTAIN tne prices 50 DIS " tame
| advantage of the excess of the tariff
rate over the difference between the
cost of production abroad and here.
The Payne tariff bill is the first bill
passed by the Republican party in
which the necessity for reducing rates
tc avoid this evil has ben recognized
and it is therefore decided step in the
right direction and it ought to be ac-
cepted as such. On the whole, it was a
downward revision, particularly on ar
! ticlcs of necessity and on raw mater
ials The actual figures on the first
years operation of the law demon
strate this 1t must also be remember
ed that the tariff rates in the new law
CONTINUED on Page Two.)