The sun., 1912-08-10

year OF low prices the net protection
granted by the proposed rates would not
be more than half the difference in costs.
The free wool act OF 1894 gave a pro-
over 40 cents a pound in value. with free
raw material. The present bill gives
only 80 per cent. on such yarns. with
DUTY of 20 per cent. on the raw material.
Ihe great increase in the imports Of tops
and yarns which would result from the
rates rates, IN the bill now submitted to me
would destroy the effect of the protec-
tion to raw wool and at the same. time
would he at the cost OF widespread dis
aster to the wool combination and spin
ning branches OF the industry.
Inc last fifteen years have witnessed
great growth Of top making and worsted
spinning In this country. and the capacity
OF the plants is now equal to domesti ic
requirements. Under the rates proposed
such plants could be continued, il at all
only by writing OF most Of the investments q
as q net loss and by a reduction Of wages.
To sum up. then. most Of the rates in
the submitted bill are 80 low in themselves
result would be the irretrievable injury
70 the wool growing industry. the en-
forced idleness OF much of our wool comb
ing and spinning machinery and Of thou
sands OF looms and the consequent throw
ing out of employment Of thousands Of
wOrkmen.
"ln view Of these facts. in view Of the
Platform upon which I was elected. in
view OF my promise to follow and main
tam tho protective policy. no course is
open to me but to withhold my approval
from this bill. i am very much dis
appointed that such bill is a second time
presented to me. have inferred from
speeches in both the House and the Senate
that the members OF the ma iority in
both houses are deeply impressed with the
necessity Of reducing the tariff under the
present act on wool and woollens; that
they do not propose To stand on the ques-
tion OF the amount OF reduction or to in
satisfy the principle OF tarif for revenue
only. but that they are willing to accept
a substantial reduction in the present
rates in order tina, the people might he
relieved from the possibility OF oppressive
prices due to excessive rates. | strongly
desire 10 reduce duties provided only
the protection system be maintained
and that industries now established be
not dest royed.
1T now appears from the Tariff Boards
report. and from bills which have been
introduced into the House and the Senate.
that bill may be drawn so as to be within
the requirements Of protection and still
offer "A reduction Of 70 per cent on most
wool. and of from 20 per cent 10 30 per
cent. on cloths. l cannot act upon the
assumption that the controlling ma iority
in either house will refuse to pass a bill
of this kind If in fact il accomplishes SO
substantial a reduction merely becaus
members Of the opposing party and the
Executive unite in its approval.
Il therefore urge upon Congress that IL
do not adjourn without taking advantag ge
Of the plain opportunity thus substantially
to reduce unnecessary existing duties.
appeal to Congress to reconsider the
~ / rot ytlv
approval. and to adopt sub. therefore
making substantial reductions below
the rates at which the Tariff Board shows
possible without destroying any estab-
lished industry or throwing any wage
earners out of employment. and which |
WILLIAM II. TAFT.
The White House. August 0. 1912"
Leader Underwood tonight author
lied this statement,
do not think Il possible to write a
tariY bill that will meet with the Presi-
dents approval. The issue will go 10
the American people in the elections this
fall. They will determine whether they
want an honest revision of the tariff
downward II they - want such re-
vision OF the tariff they will put a Demo-
crat in the White House who will sign
the next Democratic wool bill to be
passed by a Democratic House.
The Democratic programme as 70
legislation will not be changed at the
request Of the President that We shall
remain here to give him what he wants
our tariff bills have been passed by the
House. In conference we have aSrccd
on some Of them with a Republican
Senate. They do no: coincide with my
tariff views but they are the outcome of
conference. They will bc sent alonsS "a
the President for his action do not
believe that other tar!ff bills will be sen,
to take the place OF these he vetoes
| think that the wool bill was "A mos,
conservative bill. 1t was a compromise
between the twu houses. There were some
things In the bill that did not agree with
in the main. but IL was better than th'
existing Law. The President should have
| signed II.
The President, admits there is a net
protection after making allowances fol
| the cost OF raw wool OF from % to %
| per cent. When IL Is recalled that. ac.
| cording to census figures. the total labo,
| cost In the woollen industries OF this
| country Is only 81 per cent Of the value
OF the product and the 10 or IL per cent
covers the difference in labor cost with
that abroad. II is hard TO determine how
| the President could veto a bill that gives
the woollen manufacturer an average OF
% per cent. protection after deductinl
the tax paid on raw wool.