Semi-weekly herald., 1909-03-18

| sudden Importation OF the coffee I,
the United States before the new tariff
shall become effective.
Next 20 the question OF coffee. tn.
average person probably is most con
cerned in the prospect of a reduction
of living expenses through lower du
ties on sugar. wool, hides. tobacco
iron. steel and lumber. Such reduc
tions. according to the champions Of
lower duties, will result in lower cosl
of material requirements OF life. Such
reductions. OF course, will more than
counteract the proposed duty Of 4
cents pound on coffee
To the business man the proposal
to tax bank checks, kilograms and
stocks. as was done to meet the ex-
penses of the war with Spain In 1898,
probably win seem the most import
ant part of the committees recommen-
dations. Under the so-called war
taxes kilograms were taxed cent
each, bank checks cents each, and
sales OF stocks cents per 800 or
fraction thereof in value. In the case
of kilograms the telegraph companies
easily can shift the added cost to the
senders of messages: to shift taxes
on bank checks or stock deals, how.
ever. is not so easy.
Free hides. II is urged by shoe manu-.
facturers, would reduce the cost OF
shoes TO everybody. This proposed
reduction is strongly opposed by pack
ers and by the cattle raisers of the
west. On behalf OF the proposed re-
duction on lumber to one-half the
present duties il ic urged that such a
change will not only aid greatly the
person who builds house or other.
wise uses lumber, but is needed to
save the forests of the United States
along the lines proposed by President
Roosevelt and other advocates of the
conservation of natural resources. This
change is opposed by lumbermen,
some of whom contend that the duties
should be increased rather than di.
minished on lumber, to protect work
men engaged in the lumber industries
Clifford Pinchot, chief forester of the
department OF agriculture. desires lum
Der placed on the free list, and this
duty no doubt will be contested siren
uously in the house.
The taxation of inheritances was
recommended by President Taft IN
his inaugural address. and 1t is pre-.
dicted that bill for such taxation
Will be presented TO congress soon. |
President Taft's recommendation was |
that Inheritance taxes be imposed I'm |
the event that 1t should be found i'm. |
possible to obtain sufficient revenue |
for the needs of the government |
through duties. With a 100000, 900 |
deficit for the current fiscal year star.
ing them in the face, congressman |
are said to be strongly inclined to The |
opinion that inheritance taxes will be |
needed. considering the reductions |
thought necessary in import duties |
Such taxes, IT is proposed |
9A'"'i bS 81 SO as W DedT ltgHt- |
ly on small estates and heavily on
large ones. Heavy Inheritance taxes
are imposed in other countries, no,a-
bly, in England, where 1t is possible
for the estate OF very rich man to
be taxed one-fourth of its value under
the finance act passed two years ago.
WASHINGTON. Mar. 16.--President
Taft's message to congress, presented
today, follows:
ITO the Senate and House of Rep
have convened the
congress in this session in order to !
enable. it to give immediate considera.
tion of the revision of the Dingley tar
iff act. Conditions affecting produc
ton, manufacture and business gen
orally have so changed in the last
twelve years as TO require readjust- |
ment and revision of the import duties |
imposed by that act. More than this |
the present tariff act, with the other |
sources of government revenue does
not furnish income enough to pay the
authorized expenditures by July l next |
the excess of expenses over receipts
for the current fiscal year will equal
500 100000 The successful party in
the late election is pledged to revision
of the tariff. The country and bust
ness community especially expect 1t.
The prospect of change In rates OF
import duties always causes a sus
pension or halt in business, because
OF uncertainty of conditions to be
made and their effect. It therefore
is of the highest Importance that the
new bill should be agreed upon and
pushed with as much speed as posi-
Bile consistent with its due and thor
ough consideration. For these rea-
sons have deemed the present to be
an extraordinary occasion within the
meaning of the constitution justifying
and requiring the calling OF an extra
session. In my inaugural address
stated In a summary way the prin-
ciples upon which, In my judgment
the revision of the tariff should pro-
coed and indicated at least one new