The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1922-09-27
PRESIDENT
HASPOWER TO
FIX TARIFF
By Executive Order
: He May Lower Or
Advance Rates on
Imported Goods

Imported Goods
Washington. Sept. 2l.-Ameri-
can tariff making will enter a new
phase tomorrow with the coming
into force of the tariff act of 1922.
For the first timc in history con-
gfess has delegated part of its au-
thority over taxes at the customs
houses. conferrins upon the presi-
dent broad powers to increase or
decrease rates and TO change from
foreign to American valuation as
the basis for assessing ad vaiore1n
duties on imports.
Referring to the sections carry
ing this grant of authority. Presi-
dent Harding. in attaching his sig
nature. to tl1s new act today. 9s-
clared that IF, We succeed. and |
hope we VIII succeed. i'm m..klu:,
effective the elastic provisions G.
this bill this VIII prove the great
es. contributiQn toward progress IN
tariff making in a century.
The tariff conlpission crsaEea
during the administrator of Presi-
dent Wilson will be the aeenc7.. !..
through which the. president xill
exercise his new authority ard
present e1peetaIions are that It
will rank almost in importance
with that of the interstate COM
merce commission. The com1nis-
sion will make extensive investi-
cation into costs of production at
home and abroad and Will repore rs
findings with recommendations
for rate or valuation changes to
the president.
Applications from manusactur
ers. impofters or other interested
persons for changes in rates or
vaiuation basis may be made ta
either the president or the con-
mission. but such as were ad-
dressed to the. executive would be
referred to the commission. The
first step would be a determine
ton of whether the facts present
cd justified action. If the decision
were that they did, investigation.
and perhaps. hearings would III
low.
Chairman Marvin said today the
cofnmissions had not yet, had tisss
to work out details Of methods Vi
procedure. sFaen this task has
been completed rules and regtla-
tions Will be made public. White
the commission has for years been
engaged in making investigation as
to differences in cost production
at home aud broad and gathering
facts about domestic industries,
Mr.. Marvin said, it's functions you'd
be greatly enlarged under the
new.
Aside from inau:rins into cues
tons OF rates upon the commit
,e vii. devolve the ascertainins
whether american commerce and
trade is being disseminated against
in foreign countries and making
recommendations as to means OF
meeting situations where discrsml-
nation is determined to exist.
The entertainment of PRODUCTION
cos.s in foreign countries is expect
ed by commission officials to prove
the most difficult Of the varied
tasks. 1t is anticipated that N
some cases the commission S agents
in foreign fields may meet With
obstacles in gathering al she facts
desired. However. in determining
whether there shalt be changes il
tariffs. the Investigating body vii
not be confined afoue To actua'
production costs abroad. but Will be
authorized to take into account
selling prices IN the American mar
ket and other conditions IN com
petition in trade.
New York. Sept el.--sFith more
| than s1a. 100000 collected i'll Gus
toms duties IN the past week from
importers aud merchants making 3
,ass minute rush TO declare then
| goods before the new tariff with is
/ higher duties goes into effect to
night at midnight the New ORE
customs house today ended ene Q!
the mos, exciting periods OF its
(; history.
IN average Of more than ST..
oou .ooo II day has been collected
in customs a: the port OF Ne-y fort
since July l. last. and more thar
$3.pao, ,VeU q day was taken in SAT
/, urday. Mondayeand Tuesday. Cash
! " ithdrawals fron banks became So
great today: that. coupled VIII
withdrawals by. interior banks I
mova crops. call money was forced
I'D from II 70 g per cent. on the
stock exchange.
When the tariff bill left the SEN
ate last Tuesday to so to the White
| House Tor the president signature
Steamship uen sent out appeals o.:
wireless TO ships at sea to bend
every effort 70 reach port as soon as
! possible bcforc the new tariff cculd
become u law Several ships, By
increasing their speed made New
. York harbor today and thus saved
the owners OF the ,nsrchanaist
! they We're carrying Thousands o.
dollars in increased duties.
Other shipping concerns having
steamships due to arrive tate to-