AMERICAN WOOL DUTIES.

New Zealand Herald, Volume XLVIII, Issue 14787, 16 September 1911, Page 5

AMERICAN WOOL DUTIES.

BOUND TO BE REDUCED. [from our own correspondent.] San Francisco, August 23. Doubtless, the chief interest in New Zealand in the welter of tariff legislation, in which the American Congress has been floundering for some. months, is in the matter of the duties on raw wool. Those duties are btvmd to bo reduced, all parties being agreed that they are now too high. The present attempt to cut them down has, however, ended in failure, and now there is no possibility of anything being done before the reassembling of Congress in regular session next December. A measure providing for duties averaging 29 per cent, ad valorem on raw wool was adopted by both Houses of - Congress, but vetoed by President Taft. The present duties are in the vicinity of 50 per cent., so the proposed reduction was substantial. It was a compromise between the Democratic proputal of 20 per cent, and the insurgent Republican proposal of 35 per cent, the reduced duties on woollen manufactures also go by the board. President Taft's announced reason for vetoing the Bill was that it was based on insufficient investigation of the wool industry. Mr. Taft is himself of opinion that the existing duties are higher than necessary, and in all probability will recommend modifications when Congress meets in regular session next December. The Tariff Commission has for some months patt been inquiring into the needs of the wool business, and upon its report the President, will base his recommendations. The veto measure of Mr. Taft laid down the principle that the industry, is entitled to protection. The platform upon which he was elected declared that American manufacturers and producers should be protected, at least to the extent of the difference of cost in America and abroad. It is to determine this difference that, the Tariff Board is making its investigation.