Audubon County Republican. [volume] (Audubon, Audubon Co., Iowa) 1885-1894, 1893-11-30
TARIFF BILL Is OUT
DEMOCRATIC: MEASURE MADE
PUBLIC TO-DAY.
Tho Wilson Bin, ON which tho Demo.
crats of the Ways and Means Com
nittee Have Been Working for
Months Is Finished.

WASHINGTON, Nov. 2S.-At IL o'clock
this morning the Wilson bill reforming
the tariff and reducing prot seton to
minimum was made public, 1t leaves
raw sugar on the free list, reduces the
tax on refined sugar from y to \ cent
rer pound and p Divides for the grad
ual abolition Of the sugar bounty.
The importance of the complete bill
can hardly be estimated 1t is the
first measure in the line of tariff re-
duction which has stood any chance OF
passing both the house and senato
since 1861. 1t is far more comprehen-
sive than the early measure toward re.
ducing the tariff. What is of most
Importance is that il will inaugurate
an entirely new fiscal policy, in oppo-
sition to the protective policy which
has been in operation for thirty-twa
years. In its effect on the economic
history of the country the bill will APP
pr stch, If not exceed, that great
measure presented ~ Sir Robert Peel,
which ended tho British system of pro-
lection and replaced it with free
trade.
In some respects the measure of Peel
and the one now proposed by Mr.. Will
terials free of duty as far rs possible,
and each scales down the duties on
manufactured articles without entirely
abolishing them. The Wilson bill is
so framed as to become effective law
in April, 1895. The long time given is
with view to permitting manufac-
terers who may have on hand raw ma
terials time in which to cover the losses
,.y1i oh hax al la,
the introduction of free raw materials.
1t will also give the first hand dealers
who have large stocks of manufactured
goods, like cloths, an opportunity to
dispose of their stocks on hand before
they are brought into competition
with articles which will have to pay
far less duty than at present
At first glance the descrr.ng of the
date to April, 1895, appears to have
much political significance, as an en-
tirely new congress will be called into
existence before that time, and yet the
Fifty-fourth congress, which succeeds
the present one, does not come into
being until March 4, 1895, and will not
be in session unless called into extra
ordinary session until December, 1895.
For this reason the new tariff bill. if
any expression at the polls or any
change in the complexion of congress
can check the absolute operation of
the law.
Two important propositions made in
connection with the preparation of the
bill-an income tax and an increase of
the whisky tax-are left out Ct the
measure and treated as separate and
distinct propositions, subsequent to
the adoption of the bill itself. 1t is
generally understood that report
will shortly be made in favor of taxing
corporation shares, and it is just pos
sible that this provision will at the
last moment he Incorporated in the
main bill. 1t is probable that the in
crease of the whisky tax will be favora-
bly, reported at no distant day as the bill
which is publishedto-day and purport-
ing to be revenue BILL does not pro-
pose tine raising of revenue bill, does
not propose the raising of as much
revenue as the preRut law provides.
The proposed tax or corporation shares
would give the government about SEQ
600, 900 year from the start At least
$50, 600, 600 annually more revenue than
is at present collected must be secured
by some means. 1t is the general be-
lief among the majority of the mem
bers of the committee that not only will
the limited income tax proposition be
! adopted, but finally the whisky tax
will be increased and that the senate
will put duty of l cent pound on
raw sugar. The three revenue featurs
would raise about $50, 000, 900 u year.