Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-09-20
SENATE PASSES
TARIFF BILL ON
To PRESIDENT
Protective Measure
Expected to Return
$4OO,OOO,O Yearly.
Rates Called Highest in
History; Underwood
Flags Product.

Washington, Sept. 19-By a vote
Of 43 to %, the senate Tuesday adopted
the conference report on the tariff of
1922. Adoption Of the report marked
final legislative action on the measure
which now goes to President Harding,
1t viii become effective the day after
he signs 1t.
The vote came one year, eight
months and 13 days after work on the
measure began on what will be the
first republican tariff law in almost
10 years.
Treasury experts estimate that the
new act viii yield about S4OO, 100000
year in revenue, one-half from these
four sources: sugar, S87,OO0OO0; raw
wool, S63 100000; tobacco. S35, 900, 900,
and laces and embroideries $15, ,OO0, 600.
Joseph s. Mccoy, actuary of the
treasury, figures that in actual opera
ton the effective equivalent ad valor-
ems will average slightly below those
In the famous Payne-Aldrich act. The
average of the rates, as written, how
ever, is declared to be slightly above
the average of those in the 1909 act.
Rates Highest In History
Rates In some of the schedules are
declared to be the highest in the his
tory of American tariffs, while those
in other schedules are estimated to
be lower than in any other protective
act In the highest class are placed
sugar, raw wool, silk. laces and en-
broideries, cutlery, agricultural prod
ucss and provisions, dyes, synthetic
chemicals, medicinals and other prod
ucts of coal tar.
The flax, hemp and jute schedule
is estimated at only slightly more than
that of the existing democratic law,
while the cotton schedule is described
BY the experts as the lowest in any
previous protective tariff. Also, it is
asserted the duties on manufactured
woolen articles are below those of
any similar act
/ Comparatively low rates also have
been written into the wood, earthen-
ware, metal, paper and books and
/ sundries schedules, according to these
/ authorities. Except for the coal tar
products, the chemical schedule also
is estimated at below that of the
/ Payne-Aldrich measure.
! This bill marks distinct de-
parture in American tariff making,
In that the president is given au-
! thority over taxes at the customs
( houses. Upon investigation. he may
increase OF ueCTedse any EdLc III INC
bill by 80 per cent should that be
necessary TO equalize the difference
/ in the cost OF production at home
and abroad. In addition, the execu-
tive may declare American valuation
as the basis of assessing ad valorem
duties.
President Given Power
In event such a basis were used.
+ the duties could not be increased,
but the experts estimate that the
actual change from the foreign valu-
alton to the American valuation
would bring about an average in
crease of 100 per cent in the rates.
After declaring such valuation. the
president could have the tariff re-
duced by 20 per cent
! The tariff commission is author
carrying out these so-called flexible
exhaustive Investigations and hold
hearings at which all interested par
ties would be given an opportunity to
submit evidence and arguments.
/ This is the scientific tariff" feature
of the new bill
! Final senate argument Tuesday was
featured by an assault on the meas
| ure by Senator Underwood of Ala
bama, the democratic leader, and
co-author with Senator Simmons,
democrat. North Carolina, of the
existing tariff for revenue law, and
a defense by Senator Smoot, of Utah.
ranking republican on the finance
| committee. Mr.. Smoot had a
prominent part in the writing of
| the new act.