Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-05-29
CONGRESS WON 7
QUIT UNTIL THE
TARIFF BILL IS
PASSED, STATES
Senator Lodge Predicts the
Country viii Approve the
Measure When the Prop
er Time Comes,
WILL CONTINUE NIGHT
SESSIONS OF SENATE
Policy of Protection Is
Surest Road to Building
Up Our Economic Inter
estS, Majority Opinion,
tBy The Associated Tress,)

Washington. May 2S,-Congres9
will pass a republican protective
tariff before it adjourns. Senator
Lodge of Massachusetts, republi-
can leader. declared today in a
statement outlining his views on
the measure now before the sem
ate. He predicted that the coun-
try would approve the bill, when
the time comes for the electorate
to pass Judgment"
Night sessions of the senate will
continue this week, under the tar
iff program. ...- -.
'"rhe republican majority in the
senate" said Mr.. Lodges state
ment. "believes the policy of pro-
! lection is the surest road 10 the
building up and restoration OF our
| economic interests. That is the
purpose of the pending bill.
Won't Affect Foreign Trade.
Senator Lodge denied that the
rates proposed in the permanent
bill would have an adverse effect
on the volume of foreign trade.
| Ouc lOIGiSn ohC tpNA'sS - ''~t
suffering because of the taritf ana
we are living now under the emef-
gency tariff act, which has hlgher
! rates, in many cases, than those
proposed in the finance commit
i Tee bill" Senator Lodge declared.
"The democrats seek to give the
impression that the increase IN
our foreign trade and in trade
conditions throughout the country
are due to the Underwood tariff
act. whereas the figures quoted by
I Secretary Hoover show increases
In foreign trade which have de-
yeloped since the emergency tar
iff bill became a law.
zone little thing is Interesting
and will prove that the resump-
tion of our foreign trade is not
prevented by the emergency tar
! iff. During the past four months
1--we imported in Boston 6O,oOO,eOu
lpounds of wool. one-seventh oil
1.-The total consumption of the Unit
ed states. This wool the import
ers are holding in bond, awaiting
the passage of the new tarift whei
they can get it in under lower
rates.
! Expect Boom in Business.
This importation of wool does
| not indicate that the tariff is go
ing to destroy our business witt
other countries. But it does IN
dicate that the importers are tn,
: very men who expect, under tn.
new tariff, a boom in business ant
= they are preparing to take imme
6 diate advantage of the passage o
! this bill.
"Under the emergency tariff ouI
trade is becoming more neafl'
normal than that of any othel
!, nation After the present tarif
= lbill becomes law there Will b'
= even greater advance in our trade
! both foreign and domestic.
. II have been through eight tar
: iff debates. The importers an'
8 democrats always put up the sam
. camouflaged attacks that we hea
:, today, but the country inVarlaDi.
e : returns and supports a republicai
i protective tariff, when ney
0 foundation is needed by the bust
ness of the country to rebuild al
era of prosperity.
Il Conditions of Exchange.
% ut is upon the protective prln
= ciple that the great prosperity o
II this country has been built. w
/ are obliged today to meet an eco
i nomic situation such as the wori
II has never seen, owing to the ut
u terly distorted and dislocated cor
$, ditions of exchanges. The funda
IT mental conditions Of all tariff lee
= islation today are entirely differ
ent from what they we're prior I
o the war. Nevertheless, this Is nt
IS an argument for delay in tarii
le revision. The first essential {
l. business is to have stability {
l. conditions, SO far as they depen
20 upon the tariff legislation Of til
e country. Business can adjust i
T. self TO a discouraging tariff {
J. even to one badly constructe'
better than it can to a conditio
of suspense and doubt.
ct "Our duty, as far as legislatio
ot can do so, is to pass the tart
er and other economic measures
I'd stimulate and encourage the in
A. provement in business, which
o. now visible"