The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-03-09
THE REVISED TARIFF LAW
How Its Provisions Are Regarded by
Representative Business Men.
General Feeling that 1t Is a Wise Meas
ure, and that Its Operations Win
Be Generally Beneficial.


REPRESENTATIVES of the Journal Yesterday inter
| viewed a number of leading business men regard
| ing the new tariff and internal revenue law which
! passed Congress fast week with n view of "a.
certaining their opinons as TO its probable effects
on the variou 2 branches of trade and industry
| Generally, it NAV be said that the new measure
| is regarded win decided favor nv a majority or
| the narsons r,ho a.,,,rassaa +ha,sa,,,as ~, .ho
tS PeiN'n' ""o oAPic9Sou themselves vi 'no
! subject. 1t will work some hardship in the iron
| and wool industries in certain directions bCt
| nc n rpla tbora vii, ho o,,,,,l o,,,,,,.r.ti, g.
80 ''ie '"oie "il NC aiip'e compensation LUZ
TINS IN the benefit to business generally. A
! summary of the opinions EXPRESSED by reprs-
sento,ivos of tho IaadiD h,,arohoa - h,,aina.o
,,1. -fo' VI 'no ie"'ins orano"eS Vi ousiuess'
tha6 are most affected by the law, is as follows
| THU RANKING 1NrFRFsTs
A ~ Lynch Freslueht OF the First National
| Bank: "The law will affect banks and other
| financial institutions in the same wav that IL
| 49,. ~ -, -
aHects business generally ana that, thlnk, Will
| be favorably lam inclined to the opinion that
| il Will non he so hard IN tho wool man DC ia a.,
| ,,;...s = - - =. - - - 90
'ioip"'eu' nor On tue iron ihen ei1her ior thev
can arrange their contracts for the future with
regard IN the changes that bava beer n,ada r.
| -, - -
VIII very materially heip the panks' IL taxes
away the internal revenue tax from depostts
and capital stock. Int leaves it. on articulation.
| M. - - -
AniS 10 = very l"portahe ltern, as INC TAX OIL inc
first named amounts annually to about 81 L.
ooo ooo or @, o ooo ooo d, en- 1rn;taa s.a.as 7.
-, VI ~ III 0''e oHi'eU S'".e'
Will no longer De necessary TO stamp checKs, the
revenue from which amounts to So, 100000
annually and this will relieve both business
men and the banks from continued annoyance.
II Ifully understand the provisions of the new
law mink It's operations will help monetary
concerns, and Will benefit business generally.
with favor rom tba naonia anu VIII neo0
F. A. W. Davis, cashier Indiana Banking Com
pany: ~ VIII De great relief to the country as
,eed to nav Tox Of onebolf Of one nsr cent
on deposits and capital stock This may appear
insignificant, but in Indianapolis alone it
tito country to nearly $13. 600, 600. That tax
was altogether unJust Let me Illustrate; Sup
md bv 9 a. Soi,o @
a balance say CINCINNATI send the money to a
| bank there, and they send it on to New York
Such transactions are very common. The 3d.
600 III question then passes as a deposit through
four banks, and is taxed four times on the same
money, which was little less than an outrage,
and glad it has been remedied by the new
law. Business men generally will approve of it
effort in the right direction, and in
time will demand further reduction.
l don't think it will hurt either the iron or
wool men much, when they come to regulate
their business in accordance with the new sched-
ule. 1t will further protect aud encourage bank
ing, and this Is something that is much needed
III his country, for we are far behind France and
err
money easier Small traders will be encouraged
to do more business with the banks, and the lat
Seen WI oe rf nr from "nao mas heretofore
1rs ,,rrr,rs ~, WOO, 49,, ,,oor.,, ,oo,,
-, =, 49, 49, "'-1A' N''Ds'
~ 10 uoiiit' ''i'iii'' 3D." VS. "ooi 'n""u'"'-
vi. P'''e ""' CAV ~
I $50 80 ~ VDo "a .Ao ON
80" "'''0u t0'"'' '"O !" su0 A"S''
-. " - ' 'N i 0
my 'i''oH WIN ."o Opoi"'ois,
, V ,..' wa 10 sie"'ei. A"o uu'S on "ooA
mas hitherto Deen from IL TO 10 cents per
pound, and this has been reduced bv
the nav Iaw ohout Oh carts
''
and the reduction in the manufactured goods cor
responds +o this bava mt vat baan ahIe m
GO '. - -,
nhu an accurate ana dennlte account OF tile
exact changes made in the tariff, further than
an unders landing that all the duties have been
decreased am inclined to think that IN the
end the Western farmers will suffer most by this.
When wool is scarce they have been nble to com
mand very high prices, but now since the duty
Is lowered they will be forced to com pete direct
ly with the great wool growing districts in
Australia and other foreign countries The
change will not make any material difference
with us, our trade is mostly local, and 1 am
inclined to think that in the end all these mat
tiers will ADJUST themselves satisfactorily, and
while the wool men may suffer somewhat from
ueurea9e III uueles, tHey NIL lahs IL up IN the
,,,T,,r, ~, ,,,,,, 49,,
-, -, : - ., =. -,
- --ooa .-'t"9 N '"r - =" w. ""iu
~ Gnu SO EooNsr' Wv NV ""s''i
0'o '-'' VIM so any MAJ NC"
49, -. M '1eu W
" '"o anus VI
Nv. w ~ 80 az, l,o' -. ~ was -
49,, rs ~ -."9
$500. 80, 80, '--'''
~ -"'H' S'ooN' w .''A'' WIN oUio' s'i"o
for one am elao IhtC thls OarlH question IS
settled, for time, at least, and look for In
creased and steadv trade in all branchos of tho
iron trade as a rpsnlt of IT. - WV
AnniIIa ZONES nresident Indiananolis Rollino
mill: "rhe new law viii not helm arr bnsineSs
and T am afraid will ininre II rnnrerially Thara,
seems to have been an nniust Observation-Disclosures in
one resnect nj least Tie ,intv IN iron nd
~ NJ ,,sa,ois 10 49,, ro-s,,oo tel -