Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-05-17

which rates r based, it says tina
profits constitutes a far larger
element than all other element.
that may enter into or constitute
a part of the cost Of production
and adds that these condition.
would suggest, even to the extrem.
list protectionist, not the raising
but the lowering of Payne-Aldrict
rates.
To the claim that our protected
industries are unable to compete
with the foreigner upon equal
terms and that the alleged influx
of foreign goods constitute a dan.
gerous invasion and menace, the re.
port says:
I'm 1921, our imports were ST..
500,000.0o0 and our domestic pro.
duction in 1919 (the last year for
which we have official statistfvs)
were $62, ,o0O, 600. Upon tina,
basis our imports represent 4 per
cent of our production, while our
exports, which were $4,37e, 000,o 0o
in 1921, represents 7 per cent of the
domestic production. If importa-
tons amounting to 4 per cent of
our annual production is such an
invasion of our markets as calls for
further restrictions. is not the ex-
portation of 7 per cent of u an
nual production a twofold greatef
invasion by US of the markets of
the rest of the world?
"In 1921 we invaded European
markets to the extent Of 81. 1868, o00,-
900, while European countries (in-
GLIDING Germany invaded our
market to the extent of only
$64, o0o, 900.
IF these importations from Eur
upe show or argue underselling in
our markets, our three-fold greater
expectation to Europe upon a parity
of reasoning show that we can and
do undersell Europe in their own
markets.
"In 1921 the United Kingdom of
Great Britain invaded our market
to the extent of only 1888, 1000. 900,
and in the same year we invaded
the markets of the United Kingdom
Of Great Britain to the extent of
$e42, 900. 900.
I'VE do not sell our goods in
foreign markets at a loss. On the
contrary, we are selling them at
such a high basis of profit that our
manufacturers and producers show
both zeal and eagerness to further
extend their foreign business.
IF American goods car compete
with foreign goods in the markets
of the world. is it not folly to con-
tend they cannot compete with
these same goods in our own mar
ket without entailing national dis
aster, and does not the contrary
contention in these circumstances
smack of confidence-game hypo-
crisy1
The report cites instances of sue
cessful American competition with
foreign goods in the markets of the
world in the matter of hosiery, knit
goods, pottery, porcelain and china
ware, the manufacturers of silk,
cotton and wooden.
1t goes on to say that the rates
of the bill and the powers given
the president to superadd higher
rates we're concessions by the ma
jority to the demands of the cap
tains of the protected industries
and were based upon selling prices
instead of the cost of production,
the old republican theory of meas
uring protection, because the form
er, or method would include
profit while the latter or discarded
method would not. 1t then charges
that the rates in the bill are from
40 to so per cent higher under these
conditions.
The report declares that our
foreign markets have been the basis
of our phenomenal prosperity and
expansion during the last twenty
five years and that their loss must
inevitably lead to reduced produc-
ton and unemployment. 1t alleges
that the people are disappointed in
the work of the senate in rewriting !
the tariff bill.
In conclusion the report says
"the people will be satisfied with
nothing short of a full exposure
through discussion of this attempt
ed outrage, inspired by the desire