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Show COMMITTEE ON WAYS AND MEANS APPROVES PAYNE TARIFF HI .1 xlillll I J?ILjL j Expresses Opinion That New Measure Is So Constructed That It Will Be Able to Meet All Conditions Resolution Is Adopted Authorizing the Printing of 30,000 Copies, 25,000 of Which Will Embody Views of the Minority Washington, March 18. Immediately Immediate-ly after the house convened today. Mr. Payne of Now York, chairman ot the committee on ways and means, reported back tho tariff bill without amendment. Mr. Payne oeffred a resolution providing pro-viding for the printing of 30,000 copies of it, 25.000 of which shall be in doc-imentary doc-imentary form and embodying the views of the minority. After a good oeal of diseutsion, the resolution was adopted. Tho report accompanying the bill, which was presented by Mr. Payne, is made up in the main of extracts from the statement regarding tho schedule, which was yesterday given out by Mr. Payne, but the Introductory Introduc-tory portion of It Is devoted to an explanation ex-planation of the committee's reasons for its course. Two principal reasons for the readjustment of the schedules are given. The first of these is that 1 after the lapse of twelve years, since tho enactment of the Dinglcy law, many new complications in the tarlit have arisen, and it is said that the public demand has been confirmed by the Information received by tho committee since it began Its Investi-gntlon. Investi-gntlon. In the second place, It is stated stat-ed that, since the Dlngley bill went into effect, a large number of foreign countries havo adopted tariffs with maximum and minimum rates, so that tectlon 3 of the present law is not regarded as sufficiently broad to meet the changed condition as these new foreign tariffs provide for the higher rate on a large part of our exports. The committee expressed the opinion opin-ion that the new bill is so constructed that these conditions will be fully met. It is said that the bill proposes a reduced re-duced rate on the hulk of Imported articles. The committee then undertakes under-takes to give an Idea of the important import-ant character of the work in which it has been engaged, beginning with tho statement that the preparation of the bill was no easy task. The popular demand for the cutting of rates is referred re-ferred to, and against this is set the P.epublican policy of protection, whoso cardinal principle, it is said. Is the protection of American industries and American workmen ascain6t the difference differ-ence in cost of production at home and abroad. The necessity for more revenue reve-nue at the present lime is also . lls- ! cussed at some length. It Js asserted ; that until the recent depression in t luslness, the revenue under the pres-t-ut laws have been sulllcient to meet the expenditures of the governmeut, an'l the fact is pointed out that, taking tak-ing the entire period from 1S97, tho date of the enactment of the Dlngley Mil, until 1909, thero has been a surplus sur-plus of receipts over expenditures amounting to $74,555,408. The total receipts for this period exclusive ot pottal revenues was $6,558,220,260, and the expenditures, also exclusive ot poBtal expenses $6,480,664,856. - Comment Is then made upon the effect ef-fect of the present industrial depression, depres-sion, and in that connection tho committee com-mittee says: "It Is the hope of the committee ; that, with a return of business prosperity, pros-perity, the revenues will show a large percentage of increase and prove entirely en-tirely adequate for any natural and economical Bcale of expenditures." R is then pointed out that, even t-Ince the bcginulng of the present month, there has been an upward tendency ten-dency of receipts. In explaining the provision for authorizing au-thorizing tho issue of $i5,ouo.ooo or additional Panama Canal bonds, the report says that the belief of the committee is that the entire expenditure expendi-ture for the building of the Panama Canal Bhcjld be met by bond Issue. Mr. Payne calls attention to tho Frc-at amount of labor Involved in tho preparation of the bill now before the house, and ho speaks of the great as-fclBtanre as-fclBtanre rendered the committee by the department of commerce and labor la-bor and the state department. |