...unequivocally for a revision by a special session of Congress immediately following the inauguration. " In all tariff legislation the true principle of Protection...together with a reasonable profit to American industries. We favour the establishment of maximum and minimum rates to be administered by the President under...

...platform, indeed, had strongly emphasized the necessity of maintaining Protection in sufficient strength to "equal the difference between the cost of production at home and abroad," and to afford a "reasonable profit to American industries." But within the ample margin of those judicious...

...investigating the operation and • of existing schedules. In all tariff legislation the true • clple of protection Is best maintained by the Imposition of such duties as will «I the difference between the cost of production at home and abroad, together wM reasonable profit...

...maintenance of a protective system. This system is defined as one by which duties would be imposed such as " will equal the difference between the cost of...with a reasonable profit to American industries." This last clause does not involve any increase : it is only a more accurate definition of the old system,...

...provision for "a reasonable profit to American industries." Here is the party declaration in full : In all Tariff legislation the true principle of Protection...cost of production, at home and abroad, together with • reajonable profit to American Industries. The portion set in blackface type was omitted by Mr....

...next Congress, insuring the maintenance of the true principle of Protection by Imposing such customs duties as will equal the difference between the cost...and abroad, together with a reasonable profit, to the end that, without excessive duties, American manufacturers, farmers, producers and wage earners...

...their alteration." In 1908 the Republican party declared unequivocally for revision of tl,.J tariff and declared that "in all tariff legislation the true...with a reasonable profit to American industries." This brief review of the political history of "the cost of production" theory shows that it was first...

...industries are entitled was fixed by the Republican party in its national platform of 1908 as follows : In all tariff legislation the true principle of protection...of such duties as will equal the difference between cost of production at home and abroad, together with a reasonable profit to American industries. This...

...the nomination of a President recognized this sentiment, and although its platform declared in favor of such duties "as will equal the difference between...with a reasonable profit to American industries," it was generally understood that if successful in the election, the party would promptly make a reduction...

...impossible task. Its work was set forth in a plank in the party platform of 1908, in a declaration that "in all tariff legislation the true principle...with a reasonable profit to American industries." To the Tariff Board was assigned the work of ascertaining costs of production in this and in other...