Complete Life of William McKinley and Story of His Assassination: An Authentic and Official Memorial Edition, Containing Every Incident in the Career of the Immortal Statesman, Soldier, Orator and PatriotEverett, Marshall
History
Complete Life of William McKinley and Story of His Assassination: An Authentic and Official Memorial Edition, Containing Every Incident in the Career of the Immortal Statesman, Soldier, Orator and Patriot
“The bill does not amend or modify any part of the internal-revenue
taxes applicable to spirits or fermented liquors. It abolishes all the
special taxes and licenses, so called, imposed upon the manufacture of
tobacco, cigars and snuff, and dealers thereof, reduces the tax upon
manufactured tobacco from eight to four cents per pound, and removes all
restrictions now imposed upon the growers of tobacco. With these
exceptions, the internal-revenue laws are left undisturbed. From this
source we reduce taxation over $70,000,000, and leave with the people
this direct tax which has been paid by them upon their own products
through a long series of years.
“The tariff part of the bill contemplates and proposes a complete
revision. It not only changes the rates of duty, but modifies the
general provisions of the law relating to the collection of duties.
These modifications have received the approval of the Treasury
Department, and are set forth in detail in the report of the committee,
and I will not weary you by restating them.
“We propose this advanced duty to protect our manufacturers and
consumers against the British monopoly, in the belief that it will
defend our capital and labor in the production of tin plate until they
shall establish an industry which the English shall recognize has come
to stay, and then competition will insure regular and reasonable prices
to consumers. It may add a little, temporarily, to the cost of tin plate
to the consumer, but will eventuate in steadier and more satisfactory
prices. At the present prices for foreign tin plate, the proposed duty
would not add any thing to the cost of the heavier grades of tin to the
consumer. If the entire duty was added to the cost of the can, it would
not advance it more than one-third, or one-half of one cent, for on a
dozen fruit cans the addition would properly only be about three cents.
“We have now enjoyed twenty-nine years continuously of protective tariff
laws—the longest uninterrupted period in which that policy has prevailed
since the formation of the Federal government—and we find ourselves at
the end of that period in a condition of independence and prosperity the
like of which has never been witnessed at any other period in the
history of our country, and the like of which had no parallel in the
recorded history of the world. In all that goes to make a nation great
and strong and independent, we have made extraordinary strides. In arts,
in science, in literature, in manufactures, in invention, in scientific
principles applied to manufacture and agriculture, in wealth and credit
and National honor we are at the very front, abreast with the best, and
behind none.
Public-domain text, read in full here on John Shaqi.
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