Show Ii 1 TAfT EXPLAINS WY 1 HE SIGNED t TIlE THE PAYNE TARiff MEASURE 0 I I j I I Washington Aug II i Taft TaCt tonighT gave out Ot a statement I his views of the new tariff I act He Be supported it ns as a sincere of cr crI I I fort for downward The statement I 1 have havo the Payne tariff bIn bill I III I 1 believe It to be tho ho rosult II 1 or o effort on the tho part of the tho thoI I I Republican party to make malee a downward I revIsion and to with the prom I fOS of the platform as they thoy have been beon genera az as I them in the j ja II is not a perfect tariff hill bill or ora I j a with the I made strIctly Interpreted but a ul Ii I free Irom roni criticism In respect to a 3 subject matter Involving many I and amI thousands or of j I could not be expected It suffices to toI I sar ay that wIth regard to I k and wInes and lu In regard to and to soma omo high classes clasHes or of I cottons nil all of whIch may mar bo be treated I as and proper subjects or of n a revenue tariff there thero have hao boon been very few lew Increases In rates There have been a great gront number of real decreases In rates and they con a sufficient amount to justify 4 the statement that thIs bill Is i a suh downward revision and Ii a ro 10 of excessive rates This Is not a free trade bill It was not intended to be The Tho Hean Party part did not promise to make a tree free trade bill billIt It promised to lo make malce the tho rates pro hut lut to reduce them when they thov exceeded the between thC the cost of production abroad and hero making allowances for the tho greater normal profit on active Investments I here bere I believe that while this ox t I coss has hot been reduced In anum a I her hor or of cases In n a great majority the tho j rates are aro such as are to protect American Industries but buL are arc arcI lo low enough in or of abnormal In I of demand and raising of prices to the tho possibility of these foreign articles and thus to prO pre vent vont excessive The power granted to the executive under tinder the maximum and nd minimum e may he exercised to secure the tho removal of which have been Interposed b by foreign governments in inthe the thc way or of undue and unfair against AmerIcan merchandise and products The 1 Philippine tariff section I 1 have 1110 struggled to secure for ten years past and It gratifies me exceedinglY by m my signature to give gle it the effect of law I am sure It vilh greatly In Increase Increase crease the trade between the two countries and It will do much to build buildup up Lip the tho PhilippIne Islands in n a healthy prosperity I The administrative clauses of oC the tho bill and tho customs court are adm adapted to secure a more form and a more speedy final construction tion or of the meaning of the law The Tho authority of the president to use agents to lo assist him In applying the maximum and minimum sections or of tho statute and to enable to administer the law gIves a wIde latitude for the acquisition under antler cIr cIrcumstances favorable to lo Its truth of Information In respect to the price and cost of production of goods at home and abroad which will throw much light on oil the operation of the present tariff and be of primary hat In the way war of cot col data upon Ullon which future tivo tive action and executive ma may be based The Tho corporation tax Is a just anti and equitable excise measure whIch It is hoped will produce a sufficient amount to prevent a deficit and which mci Inci don will seen re valuable and Information concerning the many I corporations of the country and will I an important stop toward towar that degree of publicity and regul tion which the tho tendency In corporate enterprises In the tho last years has shown to be necessary |