A Protective Tariff

Performed by William H. Taft
Recorded October 1, 1912

The platform of 1908 promised on behalf of the Republican party to do certain things. One was that the tariff would be revised at an extra session. An extra session was called and the tariff was revised. The platform did not say in specific words that the revision would be generally downward, but I construed it to mean that. During the pendency of the bill and after it was passed, it was subjected to the most vicious misrepresentation. It was said to be a bill to increase the tariff rather than to reduce it. The law has been in force now since August 1909--a period of about 35 months. We are able to judge from its operation how far the statement is true that it did reduce duty; it has vindicated itself. Under its operation prosperity has been gradually restored since the panic of 1907. There have been no disastrous failures and no disastrous strikes. The percentage of reduction below the Dingley Bill is shown in the larger Free List and in the lower percentage of the tariff collected on the total value of the goods imported. The figures show that under the Dingley Bill, which was enforced 144 months, the average percent of the imports that came in free was in value 44 and 3/10ths percent of the total importation, and that under the Payne Bill, which has been in force 35 months, the average percent in value of the imports which have come in free amounts to 51 and 2/10ths percent of the total. But the average advalorem of the duties on all importation under the 12 years of the Dingley Bill were 45 and 8/10ths percent, while under the 35 months of the Payne Bill this was 41 and 2/10ths percent, and that the average advalorem of the dutiable imports under the Dingley Bill was 25 and 5/10ths percent, while under the Payne bill it was 20 and1/10ths percent. In other words, considering only reductions on dutiable goods, the reduction in duties from the Dingley Bill to the Payne Bill was 10 percent, and considering both free and dutiable reduction, they amounted to 21 percent.