The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1893-11-21
THE PROPOSED INCOME TAX.

| A Revenue of Fifty Millions Expected
The Exemptions High Enough &c
Exclude the LabOring Masses and
People on Small Salaries.
WASHINGTON, Nov. 14.-A revenue
| of fifty million dollars is expected by
the Democrats of the ways and means
committee from the moderate income
tax which they propose to incorporate
in the new revenue bill. The rate OF
the tax will probably be 2per cent,
| and the exemptions will be high
enough to exclude the great mass OF
laboring men and people on small sal
aries. The limit now under discussion
is from $3, 500 to 81, 900. A great many
statistics have been prepared by the
Treasury experts on the incomes of the
country and the rates of revenue OBJ
tanned under different plans, and it is
believed that a 2per cent. rate will
enue OF the government. If the in
crease in the revenue should prove in
sufficient, after year or two, to meet
the demands of the Treasury, the rate
might be slightly increased, or the
limit of exemption lowered. One of
tho attractions of the income tax to
those members of the committee who
are advocating it is that it allows
changes in the rate to meet the de-
mands of the Treasury, without disturb
ing the industries of the country, as in
the case of changes in the tariff.
If the income tax is adopted in the
form now under consideration, other
changes in the internal revenue laws
Will not be necessary. There will be
no increase in the beer tax, the whis-
key tax, the tax on manufactured to-
bacco or the tax on cigars. The ques-
tion OF the duty on sugar is still an
open one, but it is not unlikely that q
duty will be imposed of about / per
cent, per pound on both raw and re-
fined sugars. This will enable tho COM
mittee to abandon the bounty now paid
the Louisiana and Nebraska growers,
without leaving them absolutely with
out protection against foreign compe-
tition. 1t is also desired to strike a
blow at the sugar trust by making the
duty on refined sugar substantially the
Same III on'raw sugar. The reciproc-
hides, tea and coffee, will probably be
stricken from the law, but without
necessarily abrogating the existing re-
ciprocity arrangements with Germany,
with Spain regarding Cuba and with
South American countries. The ar
ticles named will remain free of duty
from all countries, unless a small tax
Is imposed on sugar, and it is not be-
llcved that the countries now having
reciprocity arrangements will desire
to abrogate them, because the retalia-
tory duties against Venezuela, Colon
bia and Hayti may be Abandoned.
Tho treatment of bituminuous coal
is another open question with the Dem
ocrats of the committees. Coal was on
the free list in the original draft of
the tariff bill, in accordance with the
pledge of the Democratic national
platform to modify the Mckinley law
in the direction of the free raw
materials. The protest from the coal
districts OF West Virginia, Pennsyl
vania, Tennessee and Alabama has been
so strong, however, that some of the
members of the committee are weaken.
ing, and may vote to retain u small
| duty.
Chairman Wilson hopes to present
the completed bill to the Republican
members of the ways and means com
mittee by the latter part of next week
so that they can have their minority
report ready upon the meeting of Con
gress in December. He is not in favor
of Il party caucus to pass upon the bill
but believes that it should be fairly
considered by the House as presented
by the committee. This was the
course with the Mills bill, and NJ
caucuses were held until debate began
under the five-1ninute rule, On the
separate schedules. Mr.. Wilson be
lieves that the bill will be more
symmetrical and consistent if takel
up as it comes from the committee
and that general debate in the House
will solve some of the problems which
might cause an interminable discussion
in Il party caucus.