The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1909-03-31
NEW TARIFF BILL ADDS
S5O,000,OOO TO REVENUE
Inheritance Tax Expected to Turn
in S2o,000,000 Yearly.
STEEL DUTIES CUT In HALF
Average Maximum Duty of Twenty
Per Cent. in Excess Of the Pres
ent Tariff Provided For in Payne
Measure Introduced in Congress.

Per Cent. in Excess or the res
ent Tariff Provided For in Payne
Measure Introduced in Congress.
Washington, D. C.-Revision down.
ward, with maximum and minimum
provisions which impose an average
maximum duty twenty per cent. in
excess of the present rates, and pro-
visions by which 1t is estimated that
the revenue will be increased S4O,-
600, 900 and S5O,00O,000, are the sa-
lent features of the new tariff bill
introduced in the House by Chairman
Payne, of the Ways and Means Com
mittee.
The recommendations of President
Taft-for an inheritance tax n that
a limited amount Of tobacco and sug-
ar be admitted free from the Philip
pines-are included in the bill.
The measure also provides for the
Issuance of Panama Canal bonds to
the amour of S40,000,000 to REIN
burse the treasury for the original
purchase Of the canal, and ~re-enacts
the provision for the issue of treas
ury certificates, the amount being IN
creased from 500, 900 900 to $780,
900, 900.
The Most Important Changes.
Some of the most important
changes made by the bill are:
Iron ore and basic Stag to the free list;
Pig iron and spiegeleisen from "a TO Sou
Scrap iron and steel from 81 to 50 cents.
Da,-, r1r1oNo orr fn XIII" or a CenI d
pound and a general cut in steel and iron
and the metals schedule generally. -,
Lumber duties cut in half, with kindllng
wood and fence posts on the free list.
Hides, tallow, cottonseed oil and works
of art twenty years old, on the free list.
No duty on coffee, but a tax OF D cents
\ pound on tea and a tax on cocoa.
The internal revenue tax on cigarettes Is
materially increased, while the tax on peer
and whisky Is undisturbed.
Bituminous coal and coke free from every
country admitting American coal free.
The tariff on boots and shoes is reduced
20 per cent. and on other leather manu-
features in proportion. "
The pottery schedule remains about the
same, but the duties on window and plate
, glass of the smaller sizes are increased,
while the duties on the larger sizes are re-
duced.
Reductions in the Wooden Schedule.
The tariff on wool, of the first and sec
ond class, used principally IN clothing. ls
not disturbed, but on wool of the third
class, known as carpet wool, 1t Is reduced
on the cheaper grades. ,,
A fve-cent reduction Is maze IN tnS
duties on shoddy and waste, while WOOL
tops are assessed six cents a pound more
than the duty on secured wool, which ls
unchanged.
The Recommendations for placing wood
pulp on the free list and reducing the
duties on print paper, with certain re-
strictions, made by the Mann committee
of the House, are incorporated IN the Dill.
The duty on refined sugar is five one
hundredths of a cent a pound and on
dextrine one-half cent a pound. ,
A reduction of one-half a cent a pound
is made in the duty on starch, except po-
Zinc ore is assessed one cent per pound
for the zinc contained.
The Principal Increases.
The principal increases are made in the
duties on lemons, cocoa and substitutes tor
coffee, coal tar, dyes, gloves and coated
papers and photographic prints.
As stated, the bill is made on a maxi
mum and minimum basis, with the pro-
vision that the maximum rates are not to
70 into effect until sixty days after the
passage of the bill.
Reciprocity provisions are contained in
the paragraphs assessing duties on 81.
luminous coal and coke and agricultural
implements.
Inheritance Tax Provision.
The inheritance tax provision is similar
to the New York State law. 1t provides
a tax of 5 per cent. on all inheritances over
$500 that are collateral inheritances, or in
which strangers are the legatees.
In cases of direct inheritance the taxes
prescribed are: On $4,000 to 100000, l
cent, and on those over S5OO,OO0, 8 per
cent. It is estimated that S20,OOO.OO an
nually will be derived from this tax.
Abrogation Of Trade Agreements.
The maximum and minimum provision
does away with the necessity Of continuing
the foreign trade agreements.
The abrogation of these Is provided for
N a section which authorizes the President
to issue notices of the termination OF these
agreements within ten days after the bill
goes into effect.
The French agreement would. therefore,
terminate Immediately, while the German
agreement would remain in force for six
months. The time that must intervene be-
fore the importation of the other reciproc-
ity agreements would become effective,
ranges from three months to- one year.
To Meet British Law.
A provision is designed to meet condi.
lions resulting from the patents laws Of
Great Britain, which requires that pat.
cntees must manufacture their articles
within Great Britain.
This provision applies the same rules to
patents taken out in this country by aliens
as applies to Americans in the country of
the aliens.
Drawback privileges are extended by
the bill and the method of valuation on
articles upon which the tariff imposes an
ad valorem duty is broadened for the pur-
pose of preventing the practice of under
valvatir.
Throw Man Into Canal.
William Mckenzie, t%hirty-ive years