The Denison review. [volume] (Denison, Iowa) 1867-current, 1911-08-23
THE WOOL VETO.
Ringing Veto Message in Which the
President Expresses His Ois.Ap'
prevail of the Wool Measure.

prevail of the Wool Measure.
In his message President Taft said
l return without my approval house
bill No. 11019, with statement Of
my reasons for so doing.
The bill is an amendment of the ex
listing tariff law and readjusts the Gus
toms duties in what is known as
schedule X, embracing wool and the
manufactures of wool.
l was elected to the presidency as
the candidate OF party which in its
platform declared its aim and purpose
to be to maintain protective tariff
by the imposition OF such duties as
will equal the difference between the
cost of production at home and abroad
together with reasonable profit to
American industries. | have always
regarded this language as fixing the
proper measure of protection at the
ascertained difference between the
cost of production at home and that
abroad, and have construed the refer
ence intended not to add new ele-
ment to the measure stated or to eX-
clude from the cost OF production
abroad the element of manufactur-
ers or producers profit, but only to
emphasize the Importance of including
in TIE American cost a manufacturers
profit, reasonable according to the
American standard.
In accordance with promise made
in the same platform, called an extra
session of the Sixty-tirst congress at
which general revision of the tariff
was made and adopted in the Payne
bill.
1t was contended by those who OPP
posed the Payne bill that the existing
i've and that the rates adopted in the
revising statute were not sufficiently
reduced to conform to the promised
measure.
Named Tariff Commission.
A popular demand arose for the
formal creation of a law OF a perma-
nent no1l-partisan tariff commission
Commercial bodies all over the cOun
try united in a movement to secure
adequate legislation for the purpose
and an association with nationwide
constituency was organized to pro-
mote the cause. The public opinion
in favor OF such commission was
evidenced by resolutions adopted in
1909 and 1910 by republican state con-
ventions in at least twenty-eight
states.
The business of the country rests on
a protective tariff basis. The public
keenly realized that a disturbance OF
business by change in that tarin
and threat of injury to the industries
OF the country ought to be avoided,
and that nothing could help SO much
to minimize the fear of destructive
changes as the known existence of a
reliable source of information for leg
islative action. The deep interest in
the matter of an impartian ascertain
ment of the facts before any new re-
vision, was evidenced by an effort to
pass a tariff commission bill in the
short session OF the SiXty-tirst con-
gress in which many of the parties
united. Such a bill passed both
houses. 1t provided commission of
five members to be appointed by the
president, not more than three OF
party, and gave them the power and
made it their duty to investigate the
operation OF the tariff, the compare
tive cost of production at home and
abroad, and like matters of Importance
in fixing the terms of revenue meas
ure, and required them to report to
the executive and to congress when
directed. Several not vital amend
ments were made in the senate, which
necessitated return of the bill to
the house, where, because OF the linn
tied duration of. the session, a COM
parativeIy small minority were able
to prevent its becoming law.
About Schedule X.
l have thus reviewed the history OF
the movement for the establishment