In presenting this bill to the House the eminent gentleman. chairman of the Ways and Means Cominittee. stated that the reduction was a conservative one. equivalent to a cut from 48.12 per cent ad valorem. the present rate. to 27.06 per cent. as against 43.76 per cent under the Wilson bill of 1S94. the last Democratic tariff act. and you all remember what happened then. It is estimated that under this bill imports of manufactured cotton will increase from $23.417.441 worth in 1910 to $39.163.S00 in 1912. This means that .]9.163.000 worth of goods that might be produced by American labor will be made by foreign pauper labor and imported into this country. -Not only will these millions of dollars worth of goods be imported. and deprive the American workingman of so much labor. but the millions of dollars in gold. or its equivalent. paying for them will be sent to other countries to eurich their treasuries. This vast sum might better be kept at home. to be spent for other Americanmade products. or for reinvestment. This great industry is represented by the following figures. taken from the report of the committee. which I ask to have incorporated in my remarks: Comparative summary.of cotton manufacturing 4n the United Statcs. by decades. 1879 to 1909.
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foreign pauper