Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-09-18
THE DEMOCRATS AND THE
TARIFF

lie bSlHOCl0NS anu lIO tdiilAt VI
course they are associated in the
public mind whenever they are
struggling to get back into power.
1t is a foregope conclusion that they
will not admit a Republican tariff is
any good. When they have been in
power and have found it necessary
to raise money by way OF a tariff on
imports they are not SO loquacious,
not SO ready to talk tariff. On the
contrary they are inclined to raise
other issues.
After cropping around in trying to
get ready for 1924 they have found
little SO far except the tariff and
prohibition and are shy of the lat
ter. It's always safe to talk against
a Republican tariff. In the South
where it is liked they vote the
Democratic ticket any way and in
other parts of the country there is
some chance of making all who hap
pen to be dissatisfied with things as
they are, believe the trouble is some
how connected with the tariff. Be
sides there are the open pocket
books of the importers.
The inevitable is being anticipat-
ed. Representative w. r. Green
who is expected to be the new Re-
publican chairman of the Ways and
Means Committee is out with a pre-
diction that the present tariff will
not be revised at the next session
OF Congress. He declares:
ut has proved an unqualified sue
cess in its operation as q whole. 1t
is not perfect and no tariff act ever
will be, but it has surpassed the eX-
pectations even of it's friends. This
10 mot a matter of mere theory, but
is supported by the cold facts. 1t
was said that it would operate as an
embargo an so greatly reduce the
importations that it would produce
but little revenue.
"The facts are that importations
have greatly increased under it and
have been more than double what
they were under the uncerwood act
before the war. For the twelve
months ending June 80, 1928, Of
which all but three months wero
under the new tariff, the imports
were 1871, 100000, as compared with
$2,60S, 100000 for the previous fiscal
year. For the seven months ending
July 80, 1928. the imports were ST.
475,000, 900. For the same seven
months of 1922 they We're $1,61,-
000,O 900. During portion of this
period in 1923 imports actually ex-
ccedcd the exports.
ut has been repeatedly stated
~, ty 1n teyIo
est tariff on record, yet the average
rate under it, SO far. is less than Is
per cent, while the average rate I'M
der the Payne act was 20.61 per cent,
and under the Dingley act 25.45 per
cent These figures are taken front
the official report of the Department
of Commerce and cannot he con-
troverted. 1t is the lowest pro-
tective measure that has been
passed by Congress.
"The Fordney act has been a
wonderful revenue producer, bring
Ing in revenue at a rate in excess OF
that the Underwood act was in
force the revenue was less than
$500, 100000. The abnormal sltua-
ton caused by importations being
largely cut off during the war was
Offset by a great increase in 1920
and brought the revenue up to $780,
coo. 600, but in 1921 the Underwood
act only produced a little over S292,-
100000, although aided during part
of that year by the increased rates
on wool and sugar provided by the
emergency tariff. =,
at the time the law was enacted
there was a great business depres-
sion and it was estimated that 81
OOO, 900 men were out OF employment.
Under the Fordncy act business has
revived and is active. tnemploy-
ment has ceased, bank deposits nave
increased and the necessity of addl-
tional taxes has been avoided. :,
AT the time the law was enacted
there was much talk about It's IN
creasing the cost of the necessities
of life. This. like so many other
gloomy predictions in relation to the
bill. has been shown to he erroneous
nv the actual results. The average
cost has declined. as shown by the
standard statistical charts OF the
cost Of living. Some articles nave
increased in price. notably pullolns
materials. upon which there IS no
tariff, but on the whole there has
been a decline since its enactment.
So successful an act ought not TO pc
and in all probability will not be
changed during the next session.
Whatever changes that might posi-
bly he made would be more than OIL
set by the effect of a period or un-
certainty upon business in general.