The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1922-09-28
PRESIDENT SIGNS
TARIFF BILL
Harding Hopes II viii Prove "the
Greatest Contribution Tow
ard Tariff Making.

Washington The F0rdney- McC'um-
Der tariff bi.i onidally known as the
Tariff aci ~ 1922, aas signed BY Presi-
dent Harding and went into effect at
midnight Thursday
A. be signed the measure the Presi-
dent turned O. the members Of Con
gress Who witnessed the signature and
pronounced the laws elastic provision
that gives the executive power % raise
and lower rates affected by changing
valuations the greatest contribution
toward progress In tarlT making In the
nations history"
The Treasury Department estimates
that the annual revenue under the new
duties will average between S35OO00.-
oO0 and sio0O00OO0. or approximately
iOOOO0OD0 above the annual returns
OF the Underwood law. which now
goes into history
Treasury officials expect that the ad-
minlIrative features of the new law
will require a large increase IN the
customs personnel notably at New
York Another expansion brought
about by the act viii be in the Tariff
Commission. which Is entrusted with
carrying out the elastic provisions,
and al The next session Of Congress a
special appropriation viii be asked for
this purpose.
Collectors Of customs OF all ports
have been notified that the new law
goes into effect tonight and TO appralse
tomorrow's imports accordingly Full
Instructions have not yet been sent to
custom houses, for additional regula.
tions interpreting the law are now be.
Ing worked out at the Treasury De
partmeht
II was reported here that there was
an unusually heavy number OF with
drHwals Of goods from bonded ware |
houses by owners anxious 10 take a
lsst.minute advantare OF the lower |
Underwood rates There also has been |
a large Increase In iariff revenue dur
ing the last few months OF tariff de-
bate, caused by Imp rters bringing In
quantities Of goods under the old du-
ties
The bill was signed In the Presl-
dents ONCE In the presence Of Chair
man McCumber Of the Senate Finance
Committee, Chairman Fordney OF the
House Ways and Means Committe and
several representatives and other on
cials As the group assembled around
the Presidents desk Mr. Fordney
said
'Mr. President, here are some Of the
men who have come here 10 have the
pleasure or seeing you put your sig
nature 20 the accomplishment OF their
efforts"
Mr. Harding then signed the bill
with a gold-mounted fountain pen that
was given to Representative Fordney.
Thank you for coming. gentlemen"
raid the President This law has long
been In the making don't know
how many are In accord with me. but
Il we succeed In making effective the
elastic provisions OF the measure II
will make the greatest contribution TO
.ariT making 10 the nations history"
Besides Senator McCumber and Mr.
Tordney, those who witnessed the sig
nature OF the tariff act included Rep
Havley. oregon; Timber
AXE, Colorado: Hadley. Washington
Watson, Pennsylvania Young, North
Dakota and Green. Iowa. all members
u the Ways and Means Committee.
md George A. Sanderson. secretary
ne senate: william Tyler Page. clerk ,
u the house Robert w. Farrar. clerk
,f the Senate Finance Committee:
layton r. Moore, clerk OF the Ways
md Means Committee; John T. Walk
y. drafting clerk Of the senate: Mari
n Devrles. president Judge of the
our; q Customs Appeals. and Harry
'arker messenger Of the Ways and
ieans Committee
In the house session today. devoted !
0 political stock-taking. Representa-
I've Fordney. chairman Of the Ways
nd Means Committee. declared that :
be tarir law would not Increase the
ost of living.