NEW U.S. TARIFF

Evening Star, Issue 15308, 7 October 1913, Page 6

NEW U.S. TARIFF

REBATES AND PREFERENCES. NO EARLY BENEFITS. Press Association—By Telegraph—Copyright. WASHINGTON, October 6. The 5 per cent, rebate provided by the underwood law on goods imported in American bottoms is causing commotion. It has established something tantamount to a preferential rate, from which the British Dominions, Russia, some of the South American countries, and possibly Germany will be excluded. It is estimated that these rebates will cost tho United States £2,000,000 per annum. According to an unofficial judgment the American carrying trade from Australia and the West Indies will be given preferential treatment over the Imperial carrying trade., American vessels on the great lakes will thus have some advantage over their Canadian rivals.

It is feared that Canada and Germany will institute fiscal retaliation. LONDON, October 6. The New York correspondent of tho ‘ Standard ’ states that the Supremo Court will probably bo invited to interpret the. rebate clause, the wording of which is obscure enough to make suits practically certain. Mr Underwood (the author of the Act) states that it will be several years before the effects of the Tariff are felt in lowered prices. PROBABLE EFFECTS. LONDON, October 5. The London Chambers of Commerce have agreed to issue a-certificate to facilitate the admission of goods in accordance with the new American Tariff. The High Commissioner for New Zealand, in the course of an interview, stated that when the Americans entered the foreign field as exporters of manufactured products the competition caused in England and on the Continent would increase to a degree that as yet was unrealised. THE PRESIDENT’S LONG NURSED HOPE. London Tinies-Sydney Sun Special Cable.— Copyright. WASHINGTON, October 6. President Wilson, after signing the Tariff Bill, stated that it was necessary to get the business of the country free from conditions which made monopoly not only possible, but easy. The reform, which the present Congress had achieved, had been in his heart since he was a bov.