The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-06-23
rHE PAYNE TARIFF.

WASHINGTON. June 1.-Ths bureau OF
Statistics Of the Department q Commerce
and Labor hAs prepared and issued an
statement Of the imports Of the
country under the Payne bin in COMPARE
sou with imports under the Mckinley
the Wilson and the DinGley tariffs. The
statement covers only the expired portion
Of the fiscal year. Presumably a COM
plsts return will be made when the
figures for the full term are available,
Such statements are open 10 a serious
objection in that they viii certainly be
used In support Of assertions that are not
properly warranted, and false impressions
ARd beliefs will Be an inevitable oonse-
qusnco. For instance. t will b. incor-
roctly inferred and incorrectly urged that
the Payne bill has given a wonderful
stimulus 10 our import trade. The proper
assertion would be that the Payne bill
did not in any way check trade revival
that had lie beginning a year before the
passage Of that bill. A record mark IN
imports was made In December, 1903, the
imports for that month reaching tiSi.-
see. 100. The hsoal year ending June %.
1907. was the period Of largest imPorts
up 10 that time The financial disturb
anoo Of the autumn Of 1907 checked the
inflow Of merchandise. and March, is0s.
shows purchases amounting only 10 tsi.-
Ot9, e7s. Al that point the tide turned and
the succeeding months show marked
though somewhat irregular gains. In
March. 1909. four months before the pas
sage Of the Payne bill, imports reached
a value Of SiS2. s7SS8e.
There have been several months OF
larger imports under the Payne BILL
but the buying movement was under
way when that bill was passed and there
is no rashnsss In an assertion that the
purchases for the fiscal year 1910 would
have been a. heavy under a continuation
Of the Dingley bill a. they have been
under the Payne bill Il may DO pleasing
10 ne political supporters Of tho new ball
10 credit IL with all the trade increase
since its passage, bus such claims are
probably quite without foundation. Ger
tainly the Payne hill cannot properly
be credited with the increase In imports
OF raw cotton. raw wool. leaf tobacco.
copper. tin and rubber. for the reason
that no change was made In the schedules
on those commodities. Nor can the In
crease in imports OF hides be rightly
attributed 10 the nsw tariff. for the roason
that the heavy buying had its beginning
many months before the application OF
the new rates. Purchases Of cattle hides
for the seven months Immediately pre-
ceding the passage OF the Payne bill
show a value Of 1904, 900. AZ compared
with 100000 for the corresponding
term Of the preceding year. The import
price Of hides in the first seven
months OF the operation Of the Payne
bill averaged about IS per cent. higher
than the import price for the seven
months preceding the removal Of the Is
per cent duty
The notable increase IN customs revenue
ia due Of course % the large increase in
import alton. The notable reduction in
the average ad valorem rate on both total
imports and dutiable imports is mainly
due 10 large increase in purchases Of raw
material brought In free Of duty or under
schedules not changed by the Payne law
The country has needed more manufact-
urers' materials Imports Of such materi-
ala from August /. 1909. 20 May /. 1910
ahou a value Of SSss 600 900. which is APP
proximately NOO,OoO.OOO more than the
value Of like merchandise in the CORE
spending term Of the record year. 1901
Only a small part Of this increase can be
attributed 70 the influence Of the tariff
In the same term ten years ago imports
q such merchandise ahoW a value Of only
tSIS 600 .OOO We need the goods and We
buy them. The tarih does not shut them
out and IL probably does little 10 increase
their importation.
These few remarks are submitted with
no intent either 10 critioise or 20 indOrse
The Payne bill. The measure. like all its
predecessors. has is merits and its
defects Very fortunately indeed Tor
thoss who are responsible for lie prepaa-
ton. u became operative al time when
general trade conditions were sminently
in favor oi IT, success a. a revenue pro-
duosr. Because there existed trade con-
ditions Tor which the tariff Is IN little II
IN any degree responsible, u is now Pos-
sible for politicians TO present Il a. the sole
instrument Of our salvation from economic
ruin and national bankruptcy.