The Bon Homme County independent. [volume] (Tabor, S.D.) 1904-1913, 1909-08-12

In the administrative circle, and great
care was taken to guard against double
taxation.
Provides Publicity.
It provides a form OF publicity which
will enable. the government to exercise
supervision over corporations. The
form of returns which must be made
by corporations n other features or
the corporation tax law were made
public In detail during its considera-
ton In the Senate. 1t Is estimated that
from $40, 600, 900 to $40, 000, 900 q year will
be collected under this new form OF
federal taxation.
Millions for Canal.
The secretary of the treasury is
authorized to issue Panama canal
bonds TO the amount of $3.50, 569, 900,
which sum, together with that al
ready expended, will be equal to
the estimated cost OF the isthmus
waterway.
1t is not Intended that the bonds
shall be issued except as needed to pro-
vide mone to carry on the work OF
canal construction.
The bonds are to be payable 80 years
from the date Of issue, and will bear
interest at a rate not exceeding 3 per
| cent. When the bonds are sold the
secretary of the treasury will restore
II 10 tLn6 WOTklnH DhldIlCG Ills tOUyOOV,uUO
paid originally for the canal property
and the canal zone. ~.
The re-enactment Of the provis-
lon authorizing the issuance OF
treasury certificates for money Dor
rowed to meet public expenditures,
increases the amount of the au-
thorization from s1OO,OOo,0oo to $780,
600, 900. t.t.
A large number OF other provisions
In force under the existing tariff law
are included In the conference bill
with a few changes In p~hraseorogy In
several cases. #@
The drawback provision of the
Dingley law IL incorporated In the
conference bill In lieu of the draw
back of the House bill, which in
tended to permit the substitution of
domestic material In the manufac-
tured article for export to the same
quantity that the imported mate
rial, upon which a drawback was
obtainable, was used In the
ufacture of similar articles for
domestic consumption. a
An additional provision was adopted
emitting users Of domestic alcohol In
the manufacture Of perfumery and cos
metics to secure q drawback Of internal
e a to the amount of alcohol
used in an exported article. Pa"
Representative Payne's statement
| comprised an analysis of the bill, show
ing both increase and decrease, and the
| detailed presentation was preceded by
a general summary In which he under
took to show the extent of revenue in
creases and decreases according to
schedules. .sh.a. .
Shows Total Increases.
According to this showing, the
total increases were on importa-
tions valued at $S52,512,525, and
the total decreases on importations ,
amounting to $4,e78, 1922, 124. =
In this preliminary statement, Payne
said that he had had made an nves-
| ttgation based or the census returns of
1905, showing the amount Of domestic
consumption of articles upon which
duties have been raised and also the
articles upon which duties have been
lowered by the bill as finally reported
from the conference committee. :.
This had been done because compar-
isons have been based upon. the
amount of importations, he said.
Duties" he said, have been
lowered where they were too high E
under the present law, sometimes
prohibitive in character, and for
that reason the im~portations were
comparatively small. On the 9TH .
er hand, they have been raised in
some instances where the tariff was
insufficient for protection and the
importations were very great"
Then he CAV the following tables,
| which shows the consumption value OF
articles on which rates of duty have
been increased and decreased in all
cases where the amount of protection
could be ascertained.
Duty Duty