Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1913-10-10
NEW TARIFF LAW
IN OPERATION FOR
NEARLY ONE WEEK
President Signs Measure Amid
Jubilant Crowd of Demo-
cratic Leaders.
URGES CURRENCY ACTION.
Task Only Half Finished, Says
Wilson-Must Insure Finan-
cial Freedom.

The new Democratic tariff bill, max
ing an average reduction of 10 per cent
on rates and adding annual imports of
Sl47,O00,O00 to the free list, has been
in operation for nearly one week, the
bill having been signed by President
Wilson at $40 o'clock last Friday ev-
ening.
The new law is the result of more
than nine months work in Congress.
In the opinion of its trainers, the Dem
.ocratic leaders of both houses of Con-
gress, it's more important features are:
A reduction of almost one-half in the
average tax on foodstuffs and farm
products.
The placing of raw wool on the free
ton Of almost two-thirds in the tariff
on wooden clothing, especially of the
cheaper grades.
An average reduction of one-third on
cotton clothing.
Reduction of the sugar tariff and its
ultimate abolishment in 1916.
An average reduction of one-third in
the tariff on earthenware and glass
ware.
Abolition of all tariff on meats, fish,
dairy products, -four, potatoes, coal,
iron ore, lumber and many classes of
farm and Office machinery.
General tariff reduction on all i'm
portant articles in general use.
1t was an unusual spectacle that at
tended the signing of the bill. Happy
and jubilant, the invited guests. Vice
President Marshall, Speaker Clark,
members of the cabinet, the senate fl
nance committee and the house ways
and means committee, crowded about
the presidents desk as he signed the
law. Then in impressive silence the
president delivered in easy, natural
tones an extemporaneous speech that
brought prolonged applause.
Gentlemen, feel peculiarly pleas
ed" the president began, 'in what l
have just done, by taking part in the
completion of a great piece of business.
1t is a pleasure which is very hard to
express in words which are adequate
to express the feeling; because the
feeling that have is that we have done
the rank and file of the people OF
this country great service.
"It is hard to speak of these things
without seeming to go off into cam
paign eloquence, but that is not my
feeling. 1t is a feeling of profound
gratitude, that, working with the
splendid men who have carried this
thing through with studious attention
and doing justice all around. should
have had a part in serving the people
of this country as we have been striv
ing to serve them ever since l can re
member
81 have had the accomplishment o.
something like this at heart ever since
was a boy, and know men standing
around me who can say the same thint
who have been waiting to see th'
things done which were necessary II
do in order that there might be justice
in the United States.
And so it Is solemn moment tina
brings such business to conclusion
and hope that l will not be though
to be demanding too much of mysel
or of my colleagues when | say tha
this, great as it is, is the accomplish
ment of only half the journey. w
have set the business Of this countr
free from those conditions which hav
made monopoly not only possible. bu
in sense easy and natural. But ther
Is no use taking away the conditions c
monopoly if we do not take away ais
the power to create monopoly, and tha
Is a financial, rather than a merel
commercial and economic power.
"Thespower to control and guide an
direct the credits of the country is tn
power to say who shall and who sha
not build up the industries of the cou1
try in which direction they shall
built and in which direction they sha
not be built.
1--WE are now about to take the Sc
ond step, which will be the final ste
IN setting the business of this COUNT
Continued on page 3D.