Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-07-30

Photo BY Harry Simpler.
PROF. WETzEL
ssssSssssssssssssss sssssssssslsSsssss
undervaluation or articles on which
there Is 10 foreign market by which
true values may be ascertained.
| Provision is made for customs court
of.appeals, with headquarters in Wash
ington, II will comprise apresiding
| judge and four associate judgesSilt sal
aries Of $4,000 a year.
TOBACCO.
The internal revenue tax Of, tobacco
is amended, making the rates on chew
ing and smoking tobacco 3 cents ].
| pound. Nojchange was made In the tax
T on cigars except those weighing under
three pounds per 1000, which We're IN
creased from 81 to Is cents per 1000
TO 20 per 1000. A prohibition againss
the use of coupons or special gift
pledges Is Incorporated in the new
law.
The provision granting farmers thu
free sale Of leaf tobacco places a re-
lstriction on the retail dealer which re-
.quires him to record every sale anloul.t-
ing to two pounds or more to one per-
son in one day. A number Of other IRON
clad requirements are included in the
| 3re-draft Of this section adopted by the
conference committee, by which it was
intended to prevent any frauds upon
the internal revenues and at the same
time give as much OF a local market
as possible to the tobacco grower.
Foreign built yachts are subjected to
an excise tax.
CORPORATION EXCIsH TAX.
Every corporation joint stock COM
;pany or association organized for pro-
At and every insurance conpany,is re
CURED to pay annually an excise tax
of per cent upon its entire net In IS
come over and above $4,000. This eea-
ture was put into the bill to raise ads
ditional revenues to apply on the treas
ury deficit. 1t provides form offpub-
licity which will enable the govern
ment to exercise supervision over cor
porations. 1t is estimated that from
$50, 900 to $1,000. 600 a year will be
collected under this new taxation.
PANAMA CANAL BONDS. SIS
The secretary of the. treasury au-
thorized to issue Panama canal bonds
to the amount of s290.569. 900. which
sum together with that already ex-
pended equals the estimated5cos of the
Panama canal. 1t is not intended thar
the bonds shall be issued except as
needed to provide money to carry on
the work of canal construction. The
bonds are to be payable so years from
the date of issue and will bear interest
not exceeding g per cent. When the
bonds are sold the secretary will re-s
store to the working balance the $780,
100000 paid originally for the canal pro-
&perty and the canal zone. III
TREASURY CERTIFICATES.
The re-enacting of the provision a,l-
thorizing the issuance of treasury GER
stificates from money borrowed to meet
public expenditures Increases the
amount of the authorization from 81 o..
900, 900 to 100000, 600. A large number
of other provisions that are In force
are Included in the conference bill with
few changes in phraseology in sew
eral cases
DRAWBACKS.
The dra wback provision of the Ding
ley law is Incorporated in the confer
ence bill in lieu of the drawback OF
the house bill which intended to permit
the substitution of domestic material
in the manufactured article for export
to the same quantity that the imported
material, upon which a drawback was
obtainablc, was used in the manufac-
5ture OF similar articles for domestic
consumption. An additional provision
was ad , fed emitting users of domestic
alcohol in the manufacture OF per-
funery and cosmetics to secure a
drawback of internal revenue tax to
the. amount of alcohol used in an cX-8
ported article.
INCREASES AND DECREASES.
Representative Payne made state
ment comprising an analysis of the
bill, showing both the increase and the
decreases, but this was preceded by a
general summary in which he under
took to show the extent OF revenue IN
crea SEES and decreases according to
schedules According to this showing
the total increases We're sson,, importa,
tons valued at $S52, 512. 525 and the total
decreases on importations amounting
to S497S122, 124.a S3S issTs
IN this preliminary statement Mr..
Payne said that he had had made an
based on the census res
turns of 1905. showing thesanlount of
domestic consumption of articles upon
which duties have been raised and also
theg articles upon which duties have
been lowerd by the bill as finally re-
ported. This had been done because
comparisons have been made based
upon the amount of importations, he !
said.
Duties" he said. have been lowered
where they We're too high under the |
present law, sometimes prohibitire In |
character and for that reason the i'm |
portations were comparatively small. |
On the other hand they have been
raised in some instances where the
tariff was tnsufficient for protection
and the importatlons were very great.
DIFFICULTIES OF COMPARISON.
The principal difncuity in the way
of clearly detailed comparison be- |
tween the present so-called DingIey
law and the new bill lies in the fact
that in most of the more 4 ,t,portant |
and sharply contested prov.s sons and
schedules, radical re- arrans ement Of