New-York tribune., 1921-12-07
Fordney Bill
Will Be Recast
To Suit Harding
Senator Smoot, Following
Talk With President.
Offers Amendments to
Meet Executives Ideas
F1exibility To BE keynote
Revised Measure Also Would
Apply American Valua-
ton Only When Essential

From The Trs6nne's Washington Bu~eou
WASHINGTON, Dec. s. - Recasting
Of the Fordney tariff bill in many inn
portant respects is deemed sure to
follow on the recommendations of
President Harding in his annual mes
sage to Congress to-day.
The President presented ideas for
meeting the chaotic conditions abroad.
which are much at variance with the
bill as it passed the House. He would
have highly flexible tariff, one which
the Executive, on the strength of in
formation from the tariff commission,
can raise and lower as may be neces-
sary; he would apply American valua-
ton only when essential and would
meet deprecated currencies by the
raising of duties to correspond.
President Harding, before taking his
position on tariff, conferred with lead
ers on the Finance Committee of the
Senate. and among otners met Senator
smoot and went into detail on the
subject with him. Senator Smoot for
some time has advocated changes in
the bill along the lines suggested by
the President. Furthermore, as soon
as the Senate reconvened. following the
delivery of the message, Senator Smoot
offered amendments to carry into effect
the ideas of the Executive.
Gives President Power
the President to increase and decrease
duties. Another enables the President
70 fix duties which will equalize con-
ditions caused by deprecated currency,
A third authorizes the President in
cases wherein he deems it necessary
10 amply American valuation. This
Congress will restore the foreign mar
ket value as the basis for the assess
ment of ad valorem duties.
Senator Smoot also introduced a
fourth amendment which covers all
three of these points and provides that
when in his judgment the public well
fare may require. the President shall
direct that Investigation be made Of
conditions affecting competition in the
American market between foreign and
domestic producers of any article or
articles. If the President finds that
the duties under the law do not equal
ize the advantages of the foreign and
domestic producers he shall increase
duties, apply American valuation or
raise duties to meet depreciation of
foreign currency This amendment pro-
yides that the total increase or de-
crease OF such duties shall not exceed
30 per cent.
Follows Harding's Idea
"The purpose OF my amendments,
said Senator Smoot, "is to carry out the
recommendations as to tariff contained
il the message of the President.
"The amendment on American valua-
ton is modification Of the House plan
In many lines of goods the American
valuation is not necessary. The House
provision would apply to it everything
IN the bill My amendment would ap
ply it only when the President on in
vestigation found it to be necessary.
THE President, under one of my
amendments, would be authorized to
examine into the difference in condi-
tons here and abroad and increase du-
ties CT decrease them. Conditions now
may not be the same as they will be
SIX months from now, and it might be
necessary to raise or lower duties to
meet the change. Under one of the
amendments the President is given
power to take account of deprecated
currency In any country abroad and
modify duties to meet such condi-
ton