The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-04-23
TARIFF MEASURE
IS REPORTED
Continued From First Page.)


amount of revenue, Congress could, and
If necessary should, annually raise or
lower the income tax rates in such
manner as would prevent either a de-
felt OF a surplus in the Treasury. This
combined tax system would afford JUS
tice In taxation, heXibility and stabii-
ity of revenue and rigid economy in
expenditures"
One Theory DlsreEarded.
The Democrats. outlining their pol
ICY in the preparation of the bill. an
Eounced an absolute disregard for the
cost OF production theory as regula-
tory of tariff rates, and declared that
III the pending bill they had attempted:
To eliminate protection OF profits
and to cut or duties which enable in
dustrial managers TO exact Il bonus, for
which no equivalent is rendered.
TO introduce in every line or in
dustry competitive tariff basis pro
viding for II substantial amount of i'm
portation. to the end that no concern
shall be able to feel that it has a mo-
ropoly Of the home market. gained
other than through the fact that it Is
| able to furnish better goods at lower
! prices than others"
(which is the wiser course for our
government TO takc?" the report asked
the one that demands tho protection
of profits. the continued policy of hot
house growth for our industries, the
! stagnation of development that follows
where competition ceases. or. on the
other hand. the gradual and insistent
reduction of our tariff laws to basis
| where the American manufacturer must
meet honest competition. where nc must
J develop his business along tho best
nnd most economical lines: whore when
/ he fights at home to control his mar
/ ket he is forging the way in the de-
| Nciopmcnt OF his business to extend
| his trade in the markets of tho world =
/ In our judgment, the future growth Of
our great industries lies beyond the
| seas
| Estimated Revenue.
| A detailed table was presented. show
/ ing by schedules the total revenue
| cured under tho Payne law for 1912
and the estimated revenue under the
| new bill for a twelve months period.
! The table showed that In 1912 S759
209,al5 worth of imports paid S3O4,597
o35 in duties, at AN equivalent average
adj valorem rate OF 4o.io per cent. II
estimated that under the new bill ST.
| O.9a?,000 worth OF imports would pay
| $685., I01 goo in duties mt an average
ad valorcm rate Of 2a.6o per cont. Thus
/ the now bill would raise s37.s?6,0 900 less
! than tho present law.
| THE saving thus made in revenue
collections" said the report. lis only
suggestive OF tho immensely greater
probable change in prices resulting
| from the removal OF the excessive
rates Of the present law.
| 1T is a striking fact" the report de-
clarod. that during the years subse-
quent TO the renewal Of the policy OF
| high protection. in 1897 there has been
IL radical transformation OF American
economic lifc III many directions. and
that in most cases n connection DO
tween the rates OF protection and the
| development OF unfair or ohjcctiona hle
! conditions has been fully establish cd"
| The inrrea Sc0 of III wing man
toned the most striking economic
change needing adjustment through the
tariff, and n table was submitted show
| nH the percentages Of increase in
Wholesale prices of many articles in
the period from 1897 to 1910. The
| table gave the percentage or in.
crease since 1897 to 1910 in farm pro
duets at 93.2 per cent: food, IG.7 per
cent; clothing, ass; metals and nipple
ments. 49,: drugs and chemicals, 2s9;
house furnishing goods, 2i.2: miscel-
laneous. AS an average increase in
such commodities of 46.7 per cent
| Reference to Trusts.
| In close conjunction with the high
cost of living the report suggested
! tho development of trusts and Indus
period. and gave a list of 226 such
combinations organized since 1897, con
| trolling thousands of plants and with
an aggregate capital Of many billions.
| IL also rcIerred 10 the rapid cNhullS-
ton OF natural resources, and said
that tho protective system has been
greatly influential in maintaining n
too rapid rate of depletion of natural
resources, In order to satisfy the con-
stantly increasing demands of a rls-
Ing population is an unmistakable
fact
Discussing tho Democratic theory or
tariff revision. tho report declared for
| the establishment Of duties designed
! primarily to produce revenue without
| thought of protection and for the at
| tainment of this end by legislation
that would not injure or destroy legi-
Innate industry. III hits connection,
| the report said:
ITO protect profits, Of necessity
! means to protect inefiiciency. 1t does
not stimulate industry because a man
! ufacturcr, standing behind a tariff wall
that is protecting his profits. is not
| driven to develop his business along
| the lines of greatest efficiency and
| greatest economy. This is clearly IL
Illustrated in comparison OF the wool