Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1912-08-03

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show that our exports and imports
REACHED for the year ending July l,
1872, higher figure than ever before
in the history of the country. Our i'm
ports for the last fiscal year, ending
July 1, 1912, amounted to $1,653,426,-
liza and our exports to $2,049,32O,1 1879.
or total Of $3,857,64S,262. II there
were added to this the business done
with Porto Rico, Hawaii, and the Phil
ippiney the sum total of our foreign
trade would considerably exceed 81
900, 100000. The excess of our ex-
ports over imports is $550,795,914.
Manufacturers exported during the
year 1912 exceed $1,oO0,0OO,OOO and
surpass the previous record. These
figures seem to show that the business
is large enough to produce prosperity
and the fact is that 1t has done SO.
| Protective Tariff.
The platform of 1908 promised, on
behalf Of the republican party, to do
certain things. One was that
the tariff would be revised at an
extra session. An extra session
was called and the tariff was
revised. The platform did not say In
specific words that the revision would
be generally downward, but l con-
strued 1t to mean that. During the
tendency of the bill and after it was
passed, 1t was subjected to the most
vicious Misrepresentation. It was said
ito be bill to increase the tariff
rather than to reduce it. The law has
been in force now since August, 1903,
period of about thirty-five months.
We are able to Judge from its opera
ton how far the statement Is true
that 1t did reduce duties.
Payne Law indicated Self.
It has indicated itself. Under it's
operation, prosperity has been gradu-
ally restored since the panic of 1907.
There have been no disastrous failures
and no disastrous strikes. The per.
centage of reduction 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 Dingley bill, which was In
force IA months, the average per
cent of the imports that came in free
was in value 44.3 per cent OF the total
importations, and that under the
Payne bill, which has been in force
thirty-five months, the average per
cent in value of the imports which
have come in free amounts to 51.2 per
cent Of the total that the average ad
valorem Of the duties on all importa-
tions under the twelve years of the
Dingley bill was 45.s per cent, while
sNf VII months
Payne bill this was 41.2 per cent, and
that the average ad valorem OF tne
dutiable imports under the Dingley bill
was 25.5 per cent while under the
Payne bill it was 20.1 per cent. In
other words, considering only reduc'
lions on dutiable goods, the reduction
in duties from the Dingley bill to the
Payne bill was 10 per cent, and con-
sidering both free and dutiable reduc,
lions, they amounted to Fl per cent.
The Tariff Board.
Under the provisions Of the Payne
hill 7 was able to appoint a tariff
board to make Investigations into each
schedule with view to determining
the cost Of production here and the
cost of production abroad OF the
articles named in the schedule, IN
order to enable congress in adjusting
Pthis schedule to know what rate OF
duty was necessary to prevent
destructive competition from Euro
mean countries and the closing up OF
our mills and other sources OF produc-
| ton. We are living on an economic
basis established on principles OF pro-
lection. A large part of our products
are dependent for existence upon
rate of duty sufficient to save the pro-
Queer from foreign competition which
would make the continuance Of his
business impossible. In the making of
the Payne bill congress did not nave
the advantage of the report OF the
tariff board showing the exact facts. II
it had, the bill would have Deen con-
structed on better basis, but we now
have had the tariff board working and
| it has made a report on the proouc-
ton of wool and the manufacture or
woolens in this country and In all the
countries abroad, and has given the
same data as to the manufacture OF
cotton.
| If the republican party had control
! of the house Of representatives, there
would be no difficulty now in passing
wooden bill Such as lnueeu DIS NdS peeA
proposed by the republicans In the
house, reducing the duty on wool and
on woolens to such degree as not to
| include more than enough to enable the
wool industry and the wooden industry
| to live and produce a reasonable profit.
| The same thing is true with respect to
the cotton industry. On the other hand.
our opponents, the democrats. have
presented to me for my signature a
! wooden bill and a cotton bill both OF
| which if allowed to become a law, as
| the reports Of the tariff board show,
| would have made such radical cut
| in the rates on many wooden and cot
| ton manufactures as seriously to inter
fere with those industries In this
country. This would have forced
| transfer Of the manufacture to Eng
land and Germany and other foreign
| countries.
The Result Of Democratic Success.
If the result of the election were to
nut the democrats completely IN con-
troll of all branches Of the government.
| then we may look for the reduction of
duties upon all those articles the man
ufacture Of which need protection, and
| NAV anticipate a serious injury to a