The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1922-11-01
M'CUMBER SEES
DELAY ON TAX
LEGISLATION
Predicts No New Bills Will Be
Passed in Congress at
B. Forthcoming Session
PLEASED WITH TARIFF
Declares There Is no Excuse
For Increase in Price
AS Result

congress Will enact no new tax
legislation at the forthcoming short
session, Senator Porter ]. McCum-
ber of North Dakota, chairman Of
the finance committee, predicted to-
day on his return from two weeks
motor trip in New England. The
North Dakota Senator also took oc-
casion to express satisfaction with
the way the Fordney-McCumber
tariff law is working says Edgar
Markham, writing from Washington,
in the St. Paul Pioneer-Press.
Senator McCumber is taking no
active part in the political cam
paign. Illness, rather than indiffer-
cncc because of his defeat in the
June primary election, is declared
to be responsible for his not taking
the stump in North Dakota. The
motor trip has greatly improved the
senator's health.
"The country would not stand for
additional taxes" said Senator Nc
Cumber in commenting on reports
that legislation of this character
may be proposed. II do not be-
lieve such a bill could pass Con-
gress," he added.
Asked about the deficit at the end
Of the current fiscal year, which is
estimated at about $500 100000, and
in some quarters even higher, Senat-
or McCumber said it would be met
by the issue of certificates Of in
debtedness or other short term pa
per. He pointed to the recent sue
cessful floation. Of a half billion
dollars worth Of bonds by the treas
ury as showing that there would be
no serious difficulty in financing
the deficit. ~.
"The new tariff law is working
WE'LL" Senator McCumber said. "In
spite Of predictions to the CONTRARY
before the bill was passed, it has
had no detrimental effect. On the
contrary, it has been helpful to busi-
ness, as we predicted it would be.
It is justify;ng :he claims that were
made for it,.
"Much was said about the new
tariff; being, prohibitive, but = the
facts are that importations for the
last month have been the largest in
history. Imports are keeping up in
healthful volume, as :. they should,
from day to day: I believe they will
keep up. Prices to the consumer
have not increased. In some cases,
there have been, decreases.
"The new law was pretty careful
ly worked out and for my part do
not expect that revision of the
tariff will be necessary in the near
future. l am aware there has been
come talk of this kind"
Senator McCumber discussed the
flexible features of the law. He
expressed the vew that there will
be few occasions when this authori-
ty will be exercised by the Presi-
dent.
II do not believe it will be neces-
sary to either raise or lower rates
except in few instances" he
said. .r -.
Tariff Will Not Increase Prices.
Predictions Of the diversion of
trade of foreign nations from the
United States, which were made by
critics of the tariff, are not being
borne out. Senator McCumber noted.
He said there is no reason why
there should be an increase of
prices for the consumer later on,
when the tariff law has been in op-
Grafton for a longer period.
"A bonus bill is certain to pass
sooner or later" Senator McCumber
said, when asked whether there
would be action in Congress this
winter in view of the fact that the
American Legion had again indors-
ed the bonus. Whether anything will
be done this winter, I cannot say.
1t will be useless to pass the bill
again this winter unless some men,
bers have had a change of heart.
AS l have said, the country will not
stand for additional taxation at
this time.' ..-.