SIDELIGHTS ON THE "LITTLE BROTHER TO THE PAYNE-ALDRICH LAW"
SIDE LIGHTS on "The Little Brother to the Payne-Aldrich Tariff Law" SENATOR LA FOLLETTE SHOWS HOW PACKERS GET INCREASED PROTECTION I will next take beef. Beef on the hoof will produce from 55 to...
...Of this $12, $9.63 is the compensatory duty, leaving $2.37 as the protective duty to the packer...
...A steer weighing 1,400 pounds will produce dressed beef to the amount of 800 pounds...
...This, by the way, covers more than the entire cost of converting the steer into dressed beef...
...If imported in form of dressed beef, the tariff under the present law is 1 1/2 cents per pound, or $12...
...Cattle are free, so there is no compensatory duty to be considered...
...The tariff under the present law would be 27 1/2 per cent ad valorem, or $9.63...
...Beef on the hoof will produce from 55 to 60 per cent of dressed beef...
...But what do we find in the bill...
...It does not make any difference how you figure it, but assume it is worth that...
...The bill proposes a duty of 1 1/4 cents per pound on the dressed beef, and in the case of 800 pounds of beef produced from the steer the tariff will be $10, all protection, against $2.37 under the present law...
...This is an increase to the packer of 322 per cent over what he has in the Payne-Aldrich law...
...Now, just an illustration: Assume that a 1,400-pound live steer is worth 2% cents a pound...
Vol. 3 • August 1911 • No. 34
