Watauga Democrat. [volume] (Boone, Watauga County, N.C.) 1888-current, 1921-07-14
by EDWARD W. PIckARD.


After four months of hard labor the
ways and means committee OF the
house has completed the new perma-
nent tariff bill. 1t will be formally
reported to the house probably be-
fore the end of the current week.
Then will begin debate that will
seem like the good old times, for the
measure drastically revises the tarih
law under which we have been operat-
ing for eight years and restores the
principle Of high protection for Amer
lean industry. Members Of the COM
mittee estimate 1t will bring in rev.
enue as high as $7O0,00O,OOO year
more than twice the amount pro-
duced by the Payne-Aldrich law.
OF late years many Democrats have
changed their attitude toward the tar.
If to considerable extent, admitting
the truth of HancOck's dictum that
It is q local issue and favOring real
protection for the industries Of GER
tain parts of the country. But few
II any of the minority members Of
the house can be expected to swallow
whole this new bill without going on
record as upholding in general the
traditional policy Of their party-a
tariff for revenue only. A long debate,
therefore, may be expected.
There are some Republicans. also,
who are opposed to certain features
of the measure and the closing eve
nings Of the week were given up to
caucuses of the Republicans to COM
pose their differences. In several re-
spects the committee yielded at the
last. For instance, 1t is left to the
discretion of the President to impose
the duty on lumber planed on one
Or more sides and tongued and grOOved
equal to the 25 per cent ad valOrem
Canadian duty. The committee also
gave in to the demand Of the smaller
oil producers and put duty Of IS
cents per barrel on crude petroleum
and 25 cents per barrel on fuel oil.
Among the more important general
features of the measure are the follow
ing:
American valuation Of imports is
provided for, the century old system
Of foreign valuation being abandoned.
Broad powers are given the Presi-
dent to make reciprocal tariff relations
with other countries.
Duties much higher than in the for
mer Payre-Aldrich tariff law are i'm
posed upon chemicals and products Of
other industries established during the
war which are considered essential
from standpoint of national defense.
Far-reaching powers are given to
the tariff commission in restricting
imports of dyes for three-year Pc
riod.
Duties on automobiles are reduced.
in compliance with the request of the
manufacturers, who advanced the ar
gument that such action would cause
other nations to remove high duties
on American cars
Protection on agricultural products
about equal to that of the Payne-Al-
drich law is given, rates in several
instances being less than in the emer-
gency tariff law now in effect.
Duties on wool are on an entirely
different basis from former laws, and
1t is a matter of controversy whether
the basic rate is higher or lower than
in the Payne-Aldrich law.
Among the commodities on the free
list are: Agricultural implem ents,
animals imported for breeding pur.
poses, antimOny ore, antitOXins and
vaccines, bread, chromite, coal, cobalt,
cocoa, coffee, copper ore, cotton, cork
bark, iron ore, leather, shoes, hides,
wood pulp, platinum, radium, Six
cocoons, news print paper, tapioca and
tapioca -four, tea, tin ore, works OF
art, and most kinds OF lumber.
Despite the fact that the new tarlif
will produce huge revenue, the need
Of reducing government expenditures
is as pressing as ever. and President
Harding and Director Of the Budget
Dawes seem determined to bring about
that result. They met last week with
the cabinet and the heads Of all the
bureaus-the first meeting of the kind
ever held-and had heart to heart
talk on means to meet the emergency
Mr.. Harding quickly gave the fool
to Mr.. Dawes and that vigorous Chi
cagoan told the gathering in plair
language what he planned to do ant