Every evening, Wilmington daily commercial., 1922-04-26
NOW WILL HE LIKE lTi

prices In protective tarir legislation |
already are I'm evidence. even with the |
fordney Tariff bill still In the hands |
of the tariff tinkers OF tho Senate.
Its nnal enactment Is regarded as a
certainty, and Il also is certain its
rates OF duty will be- very high. So
n Is not surprising 10 note instances
az higher prices even before the pas
sage of the measure.
1, has been announced by President
William II. Wood OF tho American
Woolen Go. that "the high price OF
wool In the foreign markets precludes
the American manufacturer from get
tins foreign wool without paying the
present practically impossible high
duties" These duties are imposed by
the Emergency Tariff law. Already
leading clothing men have said the
prospective tariff duties on wool will
impose additional costs on mems
clothing Of from 81 to SIS per suit.
So. IN respect OF clothing. the result
IL bound to be higher prices or n ma
teriai impairment Of quality. which
Is equivalent to additional cost.
The new Tariff law. therefore. like
all ns predecessors. will impose addi-
tional burdens on the people In the
form os high prices. In this respect
the results Will be the same But in
one respect the pending bin differs
materially and Importantly from the
noted high tariff enactments OF the
pas; for the benefit Of special inter
ests. and that In In unusual author
ity II win confer upon the President
Under the Fordney bill he may mod
ify tariff rates either upward OF down.
ward. within prescribed limits and IN
accordance with definite rules laid
down by Congress. 40 that the rates
may at all times conform TO existing
conditions" Also. tho President may
change the bAsis OF assessment from
the foreign value TO the value
Of the domestic article In the
American market when there is
any uncertainty. He may i'm
pose penalty duties or prohibit the
importation OF particular goods. II
IN his Judgment this would prevent
unfair method. OF competition. Tn.
President IN also empowered 20 i'm
pose additional duties on imports from
any country discriminating aga,ns
our commerce. And as 20 dyes and
synthetic chemicals. the Senate com.
mittee has recommended that the en-
barge on these products laid down by
the Emergency Tariff law be con
tinucd one year. and that the Presi
dent be authorized, II he deems sucl
action advisable. 20 extend the EN-
barge provisions a year further.
In probable this surprising featur
VIII be embodied I'm the bill.
II will thus be seen that even afte
Congress gets through with its TART
tinkcrins. the business interests Of tn
country will not know where the
are at" IN respect Of the applicatio
OF tariff duties. Interested manufac
turers may carefully study the sched
ulcs contained In the law, but the
will no, be able 10 proceed with a.
surance In their ventures. as they wi
still have the President 10 deal witt
And any calculation based on III
tariff rates set forth In the law may I
knocked helter-s.xeltsr by the concl,
sion Of tho Presiden, that tho law
rates should be amended, either I'm a
upward or downward direction.
matters not which direction he ma
move I'm ordering his own rates
supsroeds those OF the law. conf,
sion and possibly loss--that is.
those interests that may not be e
pccially favored by the changes o
d-red by the President-will ines
tably result.
II cannot be possible that such
amazing scheme OF imposing tar
duties viii prove In any manner a
ccptable TO the business interests
the country. II Ia surprising III
members of Congress should be al
90 soc ANY warrant for clothing I
President with such eatraordina
powers in matter OF such era
economic importance.
Nor is it conceivable that any Pre-
sAaf would desire to have such