New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-08-02
Tariff Act Has
INDICATED Itself

It has indicated itself. Under its OPP
Grafton prosperity has been gradually
restored since the panic If 1907. There
have been no disastrous failures and no
disastrous strikes. The percentage of re-
duction below the Dingley bill IS shown
In the larger free list and In the lower
percentage of the tariff collected on the
total value of the goods imported. The
figures show that under the Dngley bill,
which was In force IA months, the aV-
erage per cent of the imports that came
I'm free was in value 44.3 per cent or the
total impOrtatlons, and that under the
Payne bill, which has been In force thir-
ty-fiNe months, the average per cent In
value OF the imports which have come
in free amounts to OLE per cent Of the
total; that the average ad yalorem OF the
duties on dutiable goods under tGe
twelve years Of tho Dingley BIN was
ass per cent, while under the thirty-flye
months OF the Payne bin this was Az
per cent and that the average ad va
loren Of duties on all imports under tue
Dingley bill was go per cent, Wnlle
under the Payne bill it was Nl per cent.
lions on dutiable goods, the reduction
I'm duties from the Dlngley bill TO the
Payne bill was 10 per cent, and CONSIDER.
ing both reductions on all imports 1t
amounted 10 Il per cent
Under the provisions OF the Payne OH
| was able TO appoint a Tariff Board to
mako investigations into each schedule
with a view to determining the cost or
production here and the cost OF produc-
ton abroad OF the articles named in the
schedule, in order to enable Congress IN
adjusting this schedule to know what
rate Of duty was necessary 10 prevent a
destructive competition from European
countries and the closing up or our mlliS
and other sources Of production. We are
living on an economic basis established
on principles OF protection. A large part
Of our products are dependent for exist
ence upon rate of duty sufilcient 10
save the producer from foreign compet-
ton which would make the continuance
OF his business Impossible. In the max
Ing OF the Payne bill Congress did not
have the advantage OF the report OF the
II had, the bill would have been con-
structed on a better basis, put we now
have had the Tariff Board working ana II
has made a report on the production o.
this country and IN all the countries
abroad, and has given the same data as
to the manufacture OF cotton. II the Re-
publican party had control OF the House
difficulty now In passing a woolIen, bill
such as indeed has been proposed by
the Republicans in the House, reducing
tho duty on wool and on woollens TO such
degree as not to include more than
enough to enable the wool industry and
the woollen industry 70 i've and produce
a reasonable profit The same thing Is
true with respect 70 the cotton indus
try. ON the other hand, our opponents,
the Democrats, have presented 10 me Tor
my signature a woollen bill and a cotton
bill. both OF which II allowed TO become
a law. a. the reports OF the Tariff Board
show. would have made such a radical
cut in the rates on many Woollen anu
cotton manufactures as seriously 10 inter
fere with those Industries in this country.
This would have forced transfer OF the
manufacture 10 England and Germany
and other foreign countries