Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1909-03-24
THE NEW TARIFF BILL
viii Bring Annual Revenue of
,S3OO,OOO,0O0.
A FEW IMPORTANT CHANGES
The Payne Bill Expected to Wipe Out
the Deficiency Coffee Still on Free
List, Sugar Little Reduced, Wool
About the Same, Paper Cut in Half,
Graduated Inheritance Tax.

Washington, Special-Congress re-
ceived the new tariff bill Wednesday
from Chairman Payne, Of the ways
and means committee, whose name
the bill bears.
The bill is the product Of five
months work of the committee and
contains 100000 words. The estimat-
ed revenue under the tariff duties
prescribed will amount to $5OO,000,-
900, an increase of $1O,O00,O00 over
the Dingley act.
A striking feature of the bill is
the inheritance tax. A direct in
heritance of $4,000 to $1,OOO,OOO is
to be taxed one per cent; 100000
to $5OO,OOO two per cent; over $780,
900 three per cent. Collateral bene-
fciaries are to pay five per cent on
all amounts over $500.
The bill authorizes the issue Of
Treasury certificates to the amount Of
$250,0O0,00O to run one year.
Coffee stays on the free list.
There is no increase in the beer tax.
There is an eight cent a pound tax
on tea from the country where it is
produced, and nine cents from other
countries.
The lumber duty is reduced so per
cent; also steel rails and steal pro-
ducts; coal is to be on a reciprocal
basis with countries admitting Unit
ed States coal free.
Wool, first and second class, is un-
changed.
There is a reduction of five cents a
hundred pounds on refined sugar.
Iron ore and hides are on the free
list. Shoes are reduced 40 per cent.
Window glass is unchanged.
Chairman Payne in u statement
said that with the return to anything
like normal conditions, the nation IS
deficit will be entirely wiped out; if
not the bill provides for the issue of
Panama Canal bonds for $4O,00O,000
to make up any probable deficiency.
The bill provides for reciprocal
trade with the Philippines, limitine;
imports of sugar, tobacco and c.
gars.
The Cuban reciprocity provisions
are preserved.
A tax is put on the transfer Of
property.
Z The d4tie. - cigarettes. perfum-
cries, fancy soap, to;es articles, cocoa
spices, feathers and fur are increased.
& The bill adds a new paragraph to
the customs act fixing the basis of
appraisement at not less than the
wholesale price Of the article when
offered on the market. This basis is
expected to result in an enormous in
crease in revenue.
Printing paper is reduced so to 60
per cent, and wood pulp will be ad-
mitted free from all countries where
no export duty is levied.
A section is added applying to pat
ents obtained by aliens in the United
States. 1t will compel foreigners
obtaining patents to build factories
here and manufacture here for our
trade.
Provision is made to terminate va
rious commercial agreements with
foreign countries by notice.
1t is provided that the bill go into
effect the day after it is passed.
The following are among the in
creases:
Coal, tar, dyes and cement, 80 to
IS per cent.
Asphaltum and bitumen, Is to 100
per cent per pound.
Cast polished glass, 2 to 10 per
cent. on smaller sizes.
Watch movements, more than seven
jewels, 70 cents each; IL to Is jewels,
SLIPS each; over II jewels, unchang-
ed; watch cases unchanged.
Zinc IN ore, 20 per cent.
Building stone is reduced 6 cents !;
pig iron is reduced from 81 to SO
cents per ton; scrap iron from 81 to
SO ents per ton; bar from 1-16 of !
cent to 40 cent per pound, beams,
joints, angles, ETC., from $40 cent
per pound to $40 cent per pound |;
hoop iron and steel bands reduced
from 30 to so per cent; steel rails
and railway bars from 81 to $3.50.
Fire brick is reduced fr.m As to
IS per cent.
Marble, sawed or dressed, is re-
duced from $1.10 to 81 per cubic
foo.
EEL ingots are reduced from $40
cents per pound to 740 cent.