One effect of this method of assessment would be that, regardless of the rate of duty, there would be an increase in the supply and variety of wool by making available to the American market wools of both low and fine quality now excluded.
Taft discusses the potential positive impact of a new method of wool assessment on the American market.
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Now, Therefore, I, William Howard Taft, President of the United States of America, do, in accordance with the provisions of the Act of Congress and the joint resolution of Congress herein named, declare and proclaim the fact that the…
The same reasons which impelled me to decline to sign the wool bill control me in this case.
This imposes a penalty on the domestic labor of cutting and would transfer half the process in the industry of shoemaking and glove making to foreign countries.
Pledged to support a policy of moderate protection, I can not approve a measure which violates its principle.
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