The Robesonian. [volume] (Lumberton, N.C.) 1870-current, 1909-03-22

DUTY when imported from cOun-
tries which permit the free i'm
portation of these articles from
America.
The inheritance tax provision
of the bill is similar to the New
York State law. 1t provides a
tax OF five per cent. on all in
heritances over $500 that are
collateral inheritar cas or in which
strangers are the legatees. In
cases of direct Inheritance the
taxes prescribed are: On $1O,-
900 to S1O0, 900, one per cent; on
800, 600 to $500, 600, two percent;
and those over$5OO, 900, three per
cent. 1t is estimated that $50
900, 900 annually will be derived
from this tax.
The maximum and minimum
provision of the bill does away
with the necessity of continuing
the foreign trade agreements.
The abrogation of these is pro-
vlded for in a section which au-
thorizes the President to issue
notices of the termination of
these agreements within ten
days after the bill goes into eff
feet. The French agreement
would, therefore, terminate i'm
mediately, while the German
agreement would remain in force
for six months. The time that
must intervene before operation
of the other reciprocity treaty
agreements would become effec-
tive, ranges from three months
to one year.
PROBLEM OF REVENUE.
Drawback privileges are ex-
tended by the bill and the meth
cd of valuation on articles upon
which the tariff imposes an ad
valorem duty is broadened for
the purpose of preventing the
practice Of under-valuation.
Mr.. Payne, in introducing the
bill, gave out a statement in part
as follows:
The problem that confronted
the committee was the question
of revenue. The business of all
commercial nations has been de-
pressed for nearly two years, and
this has affected our commerce
and greatly reduced our revenues,
so that we have large deficit,
but the revenues under the pres
ent law are improving from
month to month, as business con-
ditions are becoming better.
with a return to anything
like normal conditions during the
next fiscal year, it is safe to pre-
dict that the deficit would be en-
tirely wiped out; but in case it is
not, the bill provides for the is
sue of Panama canal bonds to
reimburse the Treasury for the
$40, 600, 600 paid out in the origi-
nal purchase of the canal. This
would more than make up any
probable deficiency. There is al
so re-enacted the provision for
the issue Of certificates to run
one year to replenish the Treas
ury, raising the amount from
$lO0, 600, 900 to $3.50, 100000, an
amount sufficient to provide at
any time against two or three
years of depressed business con-
ditions.
Most Of these articles on
which duties have been increas-
ed are luxuries, which have been
increased as follows:
TOILET ARTICLES INCREASED.
''Perfumeries and toilet arti-
cles, from so to 80 per cent. ad
valorem; fancy soap, from Is to
70 cents per pound; cocoa, crude,
transferred from the free list to
the dutiable, at 4 cents per pound;
prepared or manufactured, in
creased 2 cents on each classical
ton, except that valued above
35 cents per pound, which raises
the same; powdered cocoa from
5 cents to 9 cents per pound.
Duties on the following arti-
cles have been increased because
the committee found that there
was not sufficient protection un-
der the present law" confined
Mr.. Payne:
Peas, split peas, from 40 cents
to As cents per bushel; figs, from
2 cents to q cents per pound;
lemons, from 1 cent to Il cents
per pound; pineapples, from 81
per thousand to-, So per thou
sand"
Increases in the cotton sched-
ule are:
AN additional duty of l cent
per yard on mercerized fabrics
Ia new process of manufacture
ing invented since the present
law was enacted
ALSO a small additional duty
on lappets. There is also an in
crease in duties on old-fashioned,
wholly or in part, on knitting
machines.
LUMBER SCHEDULE
Timber, from one cent pei
cubic foot to one-half cent pei
cubic foot.
Sawed boards, planks oil
white wood, sycamore and bass
, wood, from 81 per thousand tt
so cents per thousand.
, "All other sawed lumber from
So to 81.
, , IF further advanced ane
; manufactured, the same reduc
= ton from the present law.
> Paving posts, railroad ties