Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-04-09
WILL BE PRESENTED IN
SENATE DURING. WEEK
Provisions Are in Line With
Recommendations Made in
Harding's Message.
TO PROTECT AMERICAN INDUSTRY
President Will Have Authority Z,
Change CiassIncations m Con-
ditions Mny Justify.
tBy Associated Press.I

WASHINGTON. April S.-Toreign
valuation as the underlying prin-
ciple OF the so-called permanent
tariff bill finally was agreed upon
tonight by Republican members OF
the Senate Finance Committee. The
vote was to ;. but how the COM
mittce members divided on the bal
lot was withheld.
with the settlement OF the vaIua-
ton question. the majority practi-
cally completed It's many months Of
work on the tariff measure. and It
was stated that 1t would be pre-
sonted to the Senate either on Tues
day or Wednesday,. after the Demo-
cratic members OF the committee
nave been given opportunity to cast
their votes on the bill. The ma
jority report also has yet to be
drawn up.
The valuation plan as adopted.
includes several bolstering provis-
ions designed TO take care OF unusual
situations growing out OF present
world conditions. and. more particu.
iariy. the marked depreciation OF
| currencics in number of foreign
countries. These provisions are In
line with recommendations made 10
Congress by President Harding In
his first annual message last De-
| cember.
where investigation estahlishe Il
Ia nan
foreign countries that enabled those
countries TO produce goods and sell
them In the United states at prices,
after payment OF duty, below the cost
Of producing and marketing similar
goods in this country, the President
would lie given authority to increase
any rate OF duty by so per cent of
the figure fixed in the bill.
Should investigation develop that
such percentage OF increase on the
| foreign valuation principle was too
| small to protect American industry
the President would have authority
TO transfer foreign valuation to tn
, American wholesale selling price OF
the imported goods and then to In
crease or decrease by so per cent the
rates fixed in the bill.
The President also would have the
right to change the classified tons as
fixed in the bill. that is. to remove
items from the free list TO the duti-
able list. Senator Smoot, OF Utah,
ranking Republican on the commit
tee, who drew the original hoistering
PROVISION OF the bill said he did not
thinkfit ever would be necessary for
that power to be exercised by the
President.
Under another provision OF the hill,
Senator Smoot said. where IL was cs-
tablished that foreign countries had
| Cartels or associations formed to con
! troll the prices OF commodities. in the
United States. the President would
have authority To prevent tho land
ing of imports from such countries
| until the discrimination against
| American products prscticcd by such
cartels or associations was removed.
The deprecated currency provision
| OF the original foreign valuation
| amendments was stricken out by the
| ma jority. ms II was Thought that the
authority given the President to
! change rates. valuation and classih-
| '"'''' N'''' 'p'tN Guy Eituh''pil
might arise growing out Of dcprecia-
ton in currencies abroad.
| The valuation plan as adopted by
| the Senate committee majority ha.
been declared unsatisfactory by
Chairman, Fordncy. OF the House
Ways and Means Committee, who
after a conferences some time ago
with the Senate committee majority
declared that In his Judgment the
| House never would accept tariff
| ICnntinnad on pnnn 10 Cal \