The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1922-05-12

81 oCdNO W hl6llCl pliGGoy ulB lCI
cost of living and further monopoliza-
ton of American industries.
8. Many rates are absolutely pro-
hibitive, especially on highly special
lied products which constitute the
bulk of dutiable imports.
4. The proposed rates applied to
present import prices-expressed in
terms of equivalent ad valorem---
average from 40 to so per cent higher
than the average Payne-Aldrich rates.
5. The column of imports have now
reached almost a normal basis and
are not excessive, and compared with
our exports are relatively low.
6. If a reduction OF imports under
the much lower rates of the present
law have taken place, it is obvious
that the drastic increases of the pend
ing bill will reduce them to a point
where it will be utterly impossible to
sell our large exportable surplus of
manufactured and agricultural prod
ucts in foreign markets, because our
foreign customers will continue to be
unable to purchase except through
the exchange of merchandise.
7. The two greatest economic prob
lens of the American people today
are (D Foreign markets for our sur
plus products, and (2) the question
of unemployment, which unless the
first problem is wisely solved, will
rapidly grow. Labor can only be en-
! ployed to the extent to which the
employer can find 4 market for his
products.
8. Duties on agricultural products
will mostly be imperative or ineffec-
tive because of 1) practically no i'm
portations or (2) such meagre i'm
portations as could not affect the do
nestle price or (3) on account of our
large exportable surplus, the domestic
price of the particular article is based
upon and fixed by the world selling
price.
8. The effective duties will tend to
advance the price of agricultural and
manufactured products in the domes-
tic market, but the benefits to the
farmer through such increases will be
almost inconsequential by reason of
the increases in the prices of the
things he must buy and consume.
TO- The rule followed by the Com
mittee in ascertaining the measure of
protection violates every theory ad-
vocated by the Republican party. The
superadded rate making powers con-
ferred upon the President makes
tariff rate fixing almost as much a
matter of political and personal pat
ronage as the distribution of Federal
offices.
II. The rates of the bill are based
upon the export price OF imports as
compared with the American selling
price, an unstable and constantly
fiuctuating factor The American
price for making the comparison is
predicated upon no definite basis. with
all the advantages in favor of the tar
if seeker.
IL. The REYNOLDS report upon
which prices of imports are based) is
based on foreign prices of August,
1921. mainly imports from Germany,
which seem to have been accepted as
the standard. Since then German
prices have largely increased, so that
the rates have been already thrown
out of balance and will be still further
thrown out of balance.
10. The uprising against the Payne
Aldrich bill forced the Republican par
ty to adopt fixed rule for measuring
the protection to be accorded, which
this bill ignores, and repudiates.
IA. Adoption Of this bill with it's
prohibitive rates based on an uncer-
tain and dangerous principle of meas
uring differences in competitive con-
ditions here and abroad will mean, in
addition to higher prces, higher cost
of living and the further monopoliza-
ton of American industries, also
radical reductions in production, un-
employment of labor, and the general