In other words. if 100 percent is established as the quota of any particular commodity covered by the act. in the year 1941 only 95 percent of that amount may come in. the next year only 90 percent. the following year 85 percent. the next year 80 percent. the fifth year 75 percent. and after the fifth year all considerations of that kind are eliminated. and products coming from the Philippines will be on exactly the same basis as those coming from France. Great Britain. South America. or any other country. In other words. we have substituted a quota restriction for a tariff increase--a constantly decreasing quota for constantly increasing tariffs. Such an arrangement is better for the Filipinos. and I believe it can be shown to be better for our own people. That. briefly. is the reason for the bill. There are other provisions in the bill. but the bill was offered in the first place to eliminate the increases in tariffs and substitute therefor increases in quota restrictions. The bill has the approval of the administration. Indeed.
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quota restrictions quota restriction