Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1922-04-12
May BE 80.
DAYS UNTIL.
new TARIFF.
BILL PASSED.
py Associated Press

WASHINGTON. April 1.-The long
awaited administration tariff hill was
presented to-day In the Senate. senator
Mccuml'er, Republican. North Dakota.
IN speaking Of the measure annuunced
that 10 give senators time Ia study u
he would not call II up before April go
Sone Republican leaders thought Il
would i" iassed after sixty days of de-
late hut other estimates ranged as high
as three months.
Experts who assisted the senate Il.
nance committee majority to prepare
the bill estimate that the average of It's
rates Is slightly higher than the aver.
age ~ the rayne.Aidrich law the last
Republican tariff act The Payne.
Aldirch level was approximately Al per
cent ON all du,ahlc imports and 81 per
cent "n all imports free and duiiablc.
The average ~ the Democratic Tn
dcrwod tariff. wh.ch the new hill would
replace. was as Go aud las per cent.
respectively. IN 1914 the first year uf
It's operation aud he only year when
trad" was not seriously affected by the
World War ~ postwar conditions.
Comparing this hill with the Fardncy
measure which the House passed last
July ~. and u which this II rcwritc.
the experts estimate that the average
ff lal rates IN lower. though the spcclfic
rates. and more particularly those on
foodstufs. ARE somewhat higher.
WIN Raise S2so. .oeo. 600.
While they have not completed all cal
culations, this year experts say that
Oh. Senate measure prolahly would
raise between $3.50. ooe .o0o and sasO 600.
ooo IN revenue as compared with the
estimate uf saoo.ooo 0e0 for the Fo,,Iney
hill nad the s1oS .0oa. 600 ~ revenue re-
turned In the calendar year ~ 1921 from
the. ioint operation of the Underwood
law and the emergency tariff net.
In returning 10 the foreign valuation
principle. the Senate committee ma ior.
itN carried oui suggestions ~ President
Harding o. Congress last December fur
feasible tariff J'n,ier special provl
sions In the m.asure. the president. In
thu language of the majority representa-
iives which accompanied the bill. would
hp authorized:
''rn m'slify the tariff rates either up
ward ~ downward within prescribed
limits 60 per cent? and IN accordance
With definite rules laid down by con.
grcss NJ that rates at all times may
conform a. existing conditions.
To change the lasis for the assess
mcnt ~ ad yalorem duties on sclcctcd
items from the foreign value to the
value of the domestic article In the
American market when the foreign
value Is not certain basis for the as
sesrmcnt ~ duties on such Items.
Ito impose penalty duties or prohibit
the importation of particular goods for
the purpose of preventing unfair meth
eds of competition IN the importation of
goods.
'''rp lmposc additional duties ON the
whole ar any part of the imports into
the United States from any country
whhh discriminat"s against our over.
seas commerce. These additional duties
are limited to the amount ~ the dis
crimira,ion. hut u the discrimination Il
maintained. the importation Of mcr.
chaniise NAV h. prnhiitcd"
Stability seen.
Asserting that these elastic tariff
regulations were regarded by tho com.
mission ~ undoubtedly constitutional
III" rcpnrt declared that they would
contribute a. tariff stability bv pre-.
venting h. accumulation ~ eases which
ultimately force thr uphcayal ui "A gen
cral tariff revision"
Outlining the purpose ~ the hili, the
rrpurt said the committee hal endsay.