The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-09-20
SENATEPASSES
TARIFF BILL ON
TO PRESIDENT
Will Become Effective the Day
After Harding Signs-He has
Ten Days to Do So.
CONFERENCE REPORTS
ARE FINALLY ADOPTED
Will Be First Republican Pro-
tective Tariff Law Enacted
in Nearly Ten Years.
tsy The AssooIatsd Pre.sl

WASHINGTON, Sept 1s.-Final leg
islative action on the tariff of 1929 was
taken today with the adoption of the
conference report by the senate. The
measure now goes to President Harding
and will become effective the day after
he signs it. Under the law he has ten
days in which to attach his signature
The senate vote was 4S to % and came
exactly one year, eight months and
thirteen days after work was started on
what will be the first Republican pro-
tective tariff law in nearly ten years.
Five Republicans voted against the con-
ference report and two Democrats sup
ported it. Three Republicans. Cameron,
Cummins and Lenroot. who voted for
the bill as amended in the senate. op-
posed it in the form it came from con-
ference.
Treasury experts estimate that the
new act will yield about $4o0,o00.OO0 a
year in revenue, divided as follows:
Sugars. sS7.ooo.0Oo; raw wool. $685. o0o.-
600. tobacco, 100000 and laces and
embroideries $4,000, ,O00.,
Joseph S. Mccoy. actuary of the treas
ury, figures that the effective equiva-
lent ad valorems will average slightly
below those in the Payne-Aldrich act.
The average Of the rates. however, IS
declared to be slightly above those in
the 1909 act
The experts say that some of the new
duties, particularly those on cutlery,
will be imperative. because they are as
| high as to be practically nrohibitIye
| while others, including most OF those in
| the agricultural schedule, will be inop-
erative because of an absence of imports
OF the commodities they cover
Rates In some of the schedules are
declared to be the highest In tn history
| OF American tariffs, while other rates
| are estimated to be the lowest In the
highest class are placed sugar, raw wool
silk. laces and embroiderIes, cutlery,
| agricultural products and provisions. and
dyes, synchetic chemicals, medicinsls and
| other products of coal tar.
The flax, hemp and jute schedule Is
| estimated at only slightly more than thas
| OF the existing domestic law, while the
cotton schedule is described by experts
| as the lowest in any previous protective
tariff. Also it is asserted. the duties
| on manufactured woolen articles are be-
| low those Of any other similar act
This bill marks a distinct departure
in American tariff making, in that the
President is given authority over taxes
4
| he may increase or decrease any rate
! in the bill by fifty per cent should that
be necessary to equalze the difference
based on the cost OF production.
! In addition the executive may declare
American valuation as the basis of as
| sessing ad valorem duties.
| The tariff commission is authorized to
assist the President in carrying out these
| so-called flexible tariff propositions and
would make exhaustive Investigations
and hold public hearings. This is the
scientific tariff" feature Of the new
bill.
| Final senate argument today was fea-
! tured by an assault on the measure by
! Senator Underwood Of Alabama the
Democratic leader and co-worker with
Senator Simmons. Democrat. Of North
Carolina, Of the existing tariff for rev.
| enue law and a defense by Senator
Smoot of Utah, ranking Republican on
the finance committee. Mr.. Smoot had
a prominent part in the writing of the
new act. r. ps
| John r. Adams, chairman of the Re
publican national committee. declared to-
night I'm formal statement that enact
ment Of this tariff would mark the be-
ginning of another era of good times in
the United States.