, 1922-04-11
FOREIGN VALUES
ARE RECOGNIZED
BY THE SENATE
FINANCE HEADS
New Act Averages High
er Duties Than Payne
Aldnch Tariff; Will
Yield %$3O0,O0O,OOO

April II.
By The Associated Press.)
The administration tariff
bill as rewritten by senate
finance committee Republi-
cans on the basis for foreign
valuation with provisions for flexible
rates and proclaimed American vaiua-
ton as recommended by President
Harding. was presented today to tho
senate It was that Il
would be taken up April 81. A n
fight is in prospect with some esti.
mates that It might continue for thru,
months.
Taken as a whole the bnl, according
to estimates of committee expcrts
averages slightly higher than the
Payne-Aidrich law. tho last Republican
protective tariff act. As
with the house measure, the specific
rates generally arc higher. but the ad
vaiorem rates generally are lower as
such rates in The house bill were basel
en- American valuation.
Treasury experts have esttmated
roughly that tho bill win raisn fror,
$500. 600. 900 to $3.50. 600, 900 OF revenue
annually. n Unde-wood law yielded
between 5000. 90. 900 and $500 900 600.
There In 4 division OF opinion among
tho anne as to the probable erect
tho measure would have on the e,~t
OF living. In the official report accom-.
panying tho bin il Is stated the corn.
~inittee majority had ~"endervore5 "a
iecommend rate, that viii afford w.
tecusn to American industry ana n.r-
in7- them TO pay wages sufficient 70
.hs9ie GU workmen to maintain an
american standard ef living"
with regard to tho n-ericuIn,r,,
lscftdule. one or ths longest IN the I'M
thc soport said tho "ocnmfttee a55n,ed
ne policy OF giving &c agriculture the
measure OF protection that has l.c~n
accorded to other industries with du.
noi alteration to the needs OF all Sec
lions and as OF all industries.
Inc rates in this schedule gener,,iv
average higher thai those In tho hons.
h"i and includes a larger number on
tens which were en- the free li.t in
he Underwood bill but piac,,l on the
durable LIST in this tariff
ict now In force.
As a general rule the rates written
into h agriculture schedule a..
ABOUT the level demanded by the Sea-
ate Republican farm-tarin b,or
committee experts stated, ho,yev,r
that with few exceptions the ratee IN
the agricultural schedule would NOT
exceed 20 per cent. This schedule en-
braces meats, eggs, vegetables rener.
any fruits. and practically an otbe-
products of the farm.
inc duty on wheat was fixed Mt s5r
a oushei, tho same as under the
emergency act. Under the Democratic
Iarin act wheat was free.
Inc basic wool rate of 33c a mound
on the content written int
the bll. also was that asked bv tho
Republican farm-tarin bloc This rata
is . cents higher than that In the
House bill and ia about on the level
with mat In Schedule X of tho PAYNE
Aidrich act Because OF the difYerent
cias~siiicafionB used, 1t is difficrIt tn
comforo h new wool schedule with
Schedule k. but Senate Smoot ~
Utah. who drafted the now scbedul.
is authority for tho statement that
some of the rates are as high as those
in h Payen-Aldrich measure, while
others are somewhat lower.
Because OF tho increase in the ba-
sic wool rate, the duties on manu1ae-
lures proposed are higher than those
In the Fordney bill. Under the Un-
derwood law wool was free.
Cattle hides were taken from the
free list for h first time in many
years and a duty OF 2 cents on green
and : cents on dried proposed. These
are o h rates asked for by TIE
| agricultural-tarin bloc.
The rates on shoes wcre fixed ae
| Continued or Page Threeo