Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-09-26
The Restoration
Of Protection


the duration Of which will depend
largely on the span Of control al
lotted by the American people to the
Republican party" declares the
Republican Publicity Association
through its President, Hon. Jonothan
Bourne, Jr, "a cursory review Of the
effects of the Underwood Simmons
tariff law, just repealed, is pertinent
on this occasion, bearing in mind
that the evil workings of that law
We're suspended by world war con-
ditions beginning ten months after
its enactment and persisting down to
1921.
THE Underwood = Simmons law
| took effect October 4th, 1913. In the
words Of Mr.. Underwood on the final
passages of the bill, there was not a
line of protection in it, The theory
of the measure was that increased
imports would result in lower prices,
larger revenues from customs, and
expanding exports the more we
bought from others, the more they
would buy from US. At that time we
were enjoying a normal foreign trade
which in the decade 1904-19l3 aggre-
gated nearly $4,000 in i'm
ports and almost S19,000,000,000 in
exports, or favorable balance Of
trade averaging about S500,000,000
annually Six months after the Dem
ocratic law took effect, the monthly
! balance turned against us, and It
continued against us down to Sep
tember 1914, when war orders from
Europe began to turn the scale the
other way. The adverse balance in
August, 1914, was $19,400,000. At the
outbreak of the war in Europe near
ly 1000 900 Americans were out Of
employment because of industrial de-
preston, and in the big centers of
| population the only wheels which re-
yolvcd regularly We're those of the
soup
THE war gave an impetus to Am
erican industry, agricultural and
manufacturing, the like of which has
never before been experienced, and
the vessels of the allied powers We're
| loaded to the plimsol marks with
| food and munitions of war to sup
port the Cause. Democratic politi-
| clans made capital of this bloodand
! iron commerce, and Secretary Red
field of the Department of Commerce
brazenly declared that but five per
cent. OF it was attributable to the
war, while the remainder should be
, credited to Democratic policies. Fol-.
lowing the war, Europe found her
| warehouses swept clear Of raw ma
| terials, and her cities, farms and in
! l.. - la1
for rehabilitatinS purposes. So the
demands for American products con-
tinued. From 1915 to 1921, inclusive,
! we exported $4,000, 100000 worth Of
| goods from this country or at the
! rate of $4,000, 5000 annually. OF
! this vast export value G2 per cent.
went to Europe, and since European
mills and farms We're in no position
| to keep up their foreign trade, We
were requisitioned by North and
| South America, Asia and Africa to
meet their requirements.
/ "The calendar year 1920 found our
: foreign competitors securing q strong
/ position in our domestic market evil
donced by $5,27S,000000 worth of i'm
! ports, 81 per cent. of which We're
| foodstuffS competing with our farm
products. The Republican Platform
written in 1920. recited: The unccr-
! tain and unsettled condition of ii
! tCrnational balances, the abnormal
( economic and trade situation of the
world, and the impossibility of fore
/ casting accurately even the near flu
| turc, preclude the formation Cf 2
definite program to meet conditions n
Year hence. But the Republican
party re-affirms its belief in the pco-
| tective principle and pledges itself to
| a revision of the tariff as soon as
! conditions shall make it necessary
| for the preservation of the home
/ market for American labor, agricul-
/ ture and industry The followers of
! Wilson and Cox re-aflirmed the trad
! ,itions1 policy of the Democratic par
! ty' on the tariff.
THE import record Of 1920 made
some protective legislation in! "a
tive, and on May 27th of the follow
! ing year the Emergency tariff bill
1 was signed by Mr.. Harding, having
| been vetoed by President Wilson q
few months previously. With one
! or two exceptions favorable to the
! South, farm products had been on the
free list i'll the Underwood Simmons
/ law. The Emergency law materially
! restricted this class of imports, at
I tho same time adding TO the customs
revenues. Coming at time when
the farmers were badly hurt by DEM
| oCratic defation and free farm pro-
ducts, it performed its work admir-
ably as stop-gap measure.
THE Democratic theory that In
creased imports would mean in
creased revenues for the Federal
Treasury was exploded From 1914
to 1922, inclusive, we imported S27,-
| 000,000,000 worth Of foreign products
on which we realized $2,296, 100000 in
customs revenues. OF this total
| $92,000,000 was collected during the
| period July to October 3, 1913, when
| the Republican law was in effect,
and about $20,000,000 from Republic
can rates on wool and sugar carried
over into the following year, while
the revenues derived from the En-
Urgency tariff law during 1921-22
should not be credited to the Demo-
cratic law. Probably about $1,000
600, 900 would cover the revenues of
the Democratic law during the nine
years cited. During the nine years
Immediately preceding 1914, five 0
| which We're under the Dingley law
law, we imported s13,0Oo,O00,00O
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