The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-04-12
SENATE PRES TED
WITH TARIFF BILL
AFTER LONG WAIT
Senator McCumber Announces
That He Will Not Gall cas-
ure Up Before April 20
SLIGHTLY HIGHER THAN
LAST REPUBLICAN TARIFF
Treasury Experts Say That
Measure Would Raise Between
$50 and $50 Millions
a. &c Aasoelated Preasl

y
WASHINGTON. April It-T'lle long
awaited administration tariff bin was
presented today. IN the senate. sena-
tor McCumber, republican. North Da-
kota. in charge OF the measure. an
nouneed that to give senators time TO
study it, he would not call it up be-
fore April 20. Some republicans
thought IT would be passed after about
so days OF debate, but other estimates
ranged as high as three months,
Experts who assisted the senate
finance committee majority to pre-
pare the bill estimate that the average
OF its rates Is slightly higher than the
average OF the Payne AIdrich law, the
last republican tariff act. The Payne
AIdrieh level was approximately Al
per cent on all dut8able imports and 81
per cent on all Imports free from duti-
able. The average OF the democratic
Underwood tariff. which the new bin
would replace, was $3.50 and 1883 per
cent, respectively, in 1871. the first
year Of its operation and the only year
when trade was not affected by the
world war or after the war conditions
4Hl5 Dill WITH the
i1ey measure, which the house passed
last July 21 and Of which this is
rewrite, the exports estimated that
the average of ali rates Is lower.
though the specific ratas. and more
paftlcuIarIy tiaoss Of foodstuffs. are
somewhat higher Exact comparison
OF the ad valoreIn duties in the two
bills are somewhat difficult, due to the
fact that the senate committee threw
overheard the house American valua-
tion plan, returning to the foreign
valuation principle.
| While they have not completed all
calculations. treasury experts say that
the senate measure probably would
raise between SS30.000.00o and $3.50.
900, 900 in revenue, as compared with
the estimate of 100000 900 for the
F'ordney bin and the $30s .000, 900 OF
revenue returned in the calendar year
1921 from the joint operation of the
Underwood law and the emergency
tariff act
In returning TO the foreign valuation
principle. the senate committee ma
Jority carried out suggestions Of presi-
dent Harding to congress for a fiexi-
ble tariff. Under special provisions in
the measure the president. in the Ian
guage of the majority report which
accompanied the BILL wguld be au-
thorized:
s'To modify tariff rates either up
ward or downward. within prescribed
limits, so per cent, and in accordance
with definite rules laid down by con-.
gress so that rates may ut all time
InonforTn TO existing conditions
ITO change the basis for the assess
ment OF ad valorem duties on selected
items from the foreign value to the
value of the domestic article IN the
American market when the foreign
value is not Il certain basis for the
assessment Of duties on such items
| ITO impose penalty duties or pro-
h!bit the importation Of particular
goods for the purpose Of preventing
unfair methods OF competition In the
| importation of goods.
"To impose additional duties on the
whole or any part of the imports into
the United States from any country
which discriminates against our over
seas commerce. These additional
duties are limited to the amount Of
! tho discrimination. but II the dlscrina-
| nation IS maintained, the importation
OF merchandise may be prohibited"