The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1909-04-14
REVENUE FROM PAYNE BILL.
CHANGES MADE BY HOUSE RE
DUUCE ORIGINAL ESTIMATES
revenue Which Will be PrOducod Inv
The Bill Has Already Been Cut
Down $20,0OO,OOOO by Amendments
which Have Been Made-PIacinr
VI Hides on the Free List Makes
Difference of Three Million Dollars


Payne tariff bill will produce for the
government have been reduced nearly
$2O,O0O,000 through the amendments
made to the measure before il was
passed by the house, and the senate
nnance committee will have to pro-
vide means for making up this differ
ence II the original estimates are To
DE met The striking out of several
countervailing duty clauses on which
no estimates were made probably will
lessen the bills productiveness by an
other $20,000.000.
The amendments taking off the
eight cent duty on tea subtracted 81
100000 from the estimated revenues
The striking out of the countervailiny
| duty on coffee and the maximum duty
provision for rate of 20 per cent ad
vaiorem on coffee coming from coun-
tries which do not give the United
States the benefit Of their most fav-
ored nation clause disposes of prob
Taking out the countervailing pro-
viso for lumber and for petroleum
means loss to the revenues of sew
eral million dollars, it is estimated
BY repeating the manufacturers IL
cense tax for farmers desiring to sell
the leaf tobacco which they raise. ths
mouse has withdrawn considerable
revenue under the internal revenue
law. A slight increase in revenues
may be provided by the increased tax
on Turkish filler tobacco. pineapples,
barley and barley malt.
The Payne bill as it passed the
house, like the Dingley bill when it
went to the senate, places hides on
the free list. Under the Dingley law,
hides have produced a revenue ex-
ceeding three million dollars annual
1ly.
The Payne bill differs from the
| Dingley in it's maximum and mini
mum retailatory feature. the addi-
uonal method of valuation for the
purpose Of preventing undervalua-
tions and it's provision for the $40
100000 issuance Of Panama bonds
and a s25O,OOO,OOO issue of treasury
certificates. 1t extends the drawback
| privileges An inheritance tax, which
should bring in $40, ,OOO,0 900, is provid-
ed for. The internal revenue law
should produce $1.5OO,OOO additional
revenue, because of the increase in
the tax on cigarettes.
The two increases over the Ding
| ley rates that stand out most promi-
nently in the Payne bill are those in
the rates on women's and children's
gloves and hosiery. Cocoa, now i'm
| ported free. has been made dutiable
at cents per pound. Unmanufactur-
ed mica has been reduced one cent
per pound, and the manufacturers of
mica have duty levied upon them
two cents per pound less than the
Dingley rates. The duty on unmanu-
factured barytes has beeen doubled.
| The Payne bill contains MANY
clauses reducing Dingley rates of
duty. The duties on lead ore and pig
lead are materially reduced, while the
lumber schedule is cut in half. The
dinerential on refined sugar is re-
| duced five cents per 100 pounds Cot
ton seed oil and tallow are placed on
the free list. Provision is made for
the free entry, under certain condi-
tions, of bituminous coal. wood pulp
and agricultural machinery. The duty
on print paper was considerably re-
duced. The most important changes
made in the wool schedule were the
| reduction of five cents in the duties
on shoddy and top waste. and changes
from an advalOrem to a specific duty
on tops. The bill permits the free
entry of objects of art twenty or more
years old.
In the iron and steel schedules iron
ore is placed on the free list and ma
terial reductions are made in the rates
on pig iron, scrap iron and steel bar
iron, round iron, blooms. structural
iron, forgings anchors. cotton ties.
steel rails. tin plates, wire and num-
erous other articles. One of the most
important provisions of the bill is
that which permits the free entry of
every product of the Philippine Is
lands. except rice; and exempts from
duty any articles imported from the
United States into those islands. The
amount of sugar which may be i'm
ported is limited to 100000 tons an
nually, and the free importation of to-
bacco is restricted to 200. 600
pounds of wrapper. 100000 pounds
~ 49,