Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1922-04-14
NEW TARIFF BILL
Measure Presented to the Senate Last
Tuesday.

4
The long awaited administration tar
if bill was presented in the senate last
Tuesday. Senator Mccumber, Repub-
lican, North Dakota, in charge Of the
measure. announced that to give the
senators time to study 1t he would not
call it. up before April 20. Some Re
publican leaders thought it would be
passed after about so days Of debate,
but other. estimates rnnged as high as
| three months. ..ns-
Experts who assisted the senate fin
ance COMMITTEES majority to prepare
the bill estimatesthat the average of
Its rate Is slightly higher than the av-
erage of the Payne Aldrici law, the
last Republican tariff act. The Payne
Aldrich level was approximately Il per
cent on all dutiable imports and Fl per
cent on all imports free from duty.
The average Of the Democratic I'm
derwood tariff which the new bill
would replace was $3.50 and 14.SS per
cent respectively in 1914, the first year
of it's operation and the only year
when trade was not seriously affected
by the World war or after the war
conditions.
Comparing this bill with the Ford
ney measure, which the house passed
last July 21 and Of which this is re-
write, the experts estimated that the
average of all rates Is lower, though
the specific rates, and more particular
ly those on foodstuffs, are somewhat
higher. Exact comparisons of the ad
valorem duties in the two bills are
somewhat difficult, due to the fact
that the senate committee threw over
board the house American valuation
plan, returning to the foreign valua-
tion principle.
While they have not completed all
calculations, treasury experts say that
the measure probably would raise be-
tween 1890, 100000 and $S50,000,O0O in
revenue. as compared with the esti-
mate of s3OO,OOO,OOO for the Fordney
bill and the s30S, 100000 Of revenue re-
turned 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 major
ity carried out suggestions Of Presi-
dent. Harding to congress last Decem-
ber for a flexible tariff. Under special
provisions in the measure, the presi-
dent, in the language Of the majority
report which accompanied the bill,
would be authorized:
ITO 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 at all times
conform to existing conditions.
ITO change the basis for the assess
ment of ad .valorem duties on selected
items from the foreign value to the do
mestic article in the American market
when the foreign value is not certain
basis for the assessment of duties on
such items.
ITO impose penalty duties or pro-
hibit the importation of particular
goods for the purpose of preventing
unfair methods of competition in the
importation of goods.
ITO 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 du-
ties are limited to the amount Of the
discrimination, but IL the diScrimina-
ton is maintained the importation of
merchandise may be prohibited ''