Belding banner. (Belding, Mich.) 1889-1918, 1909-08-12
TARIFF As REVISED
Many Changes Have Been
Made in the Existing
Schedules.
VICTORY FOR PUBLISHERS.
Secure Lower Duties on Wood Pulp
Hides to Be Admitted Free
Slight Increase in Rates
on Hosiery.

as provided for by the new measure
is substantially as follows:
Beginning with decrease in the
rate on iron ore from 40 to 10 cents
ton. there is general reduction
throughout that part of the bill, pig
iron going down from 81 to $3.50 ton
and scrap iron from four TO one dol
lar.
Rough lumber goes down from
81 to s1.25 per 1000 feet, with cor
responding reductions in the differen-
tial on dressed lumber
Sugar and tobacco duties remain
substantially as they are under the
Dingley law.
Structural steel, fitted for use. comes
in the basket clause at As per cent. ad
valorem
In the lumber schedule the only in
creases were those on shingles, from
80 cents to 90 cents a thousand, and
on briar wood and laurel wood for the
use of pipe makers, from the free list
to Is per cent. adj valorem. The rate
on sawed lumber was decreased from
81 a thousand TO 1925 a thousand
feet.
In other agricultural products broom
corn was taken from the free list and
made duitable at So ton. Hops are
increased from IL to 16 cents a pound.
Cotton hosiery, valued at not more
than 81 dozen pairs, is increased
from so to 20 cents a deem pairs;
that worth more than 81 and less than
$3.50 dozen pairs from 90 to SO cents
dozen pairs, that valued above $l.50
and not above 81, from 20 to 90 cents
a dozen pairs. The remaining rates
on stockings are the same as under
the present law.
Hemp is increased from $50 to S22 so
per ton and heckle hemp from $40
to $45 ton
There was a general reduction in
carpets and mats. A reduction from
20 TO Is cents is made in hydraulic
hose. Oil cloth, including linoleum,
was reduced about third.
Mechanically ground wool pulp was
exempted from duty and placed on the
free list, with a provision for counter
vailing duty against Canada. The
lower grade of printing paper was re-
duced from Sc to 1915 ton and the
higher grade from IS to 1915.
Bituminous coal goes from 81 to As
cents ton and there are reductions
on gunpowder, matches and cartrid-
ges. Agricultural implements are cut
from 20 to 10 per cent. ad valorem
Every corporation, joint stock COM
pany or association organized for
profit and every insurance company is
required to pay annually an excise tax
OF one per cent. upon its entire net
income over and above $1,000. II is
estimated that from s20000,000 to
$50 900, 900 a year will be collected I'm
der this new form of federal taxation.
The secretary of the treasury is
authorized to issue Panama canal
! bonds to the amount of $290,569 900.
which sum- together with that already
expended, equals the estimated cost
of the Panama canal. 1t is not intend
ed that the bonds shall be issued ex-
cept as needed to provide money to
carry on the construction. The bonds
are to be payable 80 years from the
date OF issue, and will bear interest
at rate not exceeding three per cent.
Hides were placed on the free list,
while the rate on hand and sole leath-
er is reduced from 20 per cent. to five
per cent ad valorem, that on dressed
leather from 20 to 10 per cent. and
boots and shoes from % to 10 per
cent.
Petroleum, crude and refined. in
Guiding kerosene, gasoline. naphtha,
benzine and similar products. is made
| free of duty and left even without q
countervailing duty.
The Dingley rates on women's and
children's gloves are allowed to stand
The only change is q reduction on
"schmaschem" gloves not over IA
inches long on which the rate is made
Sl.25 dozen pairs instead of $175.
The maximum and minimum provi-
sion prescribes duties in accordance
with the rates named in the dutiable
list until March 81, 1910, when % per
cent. ad valorem is TO be added auto
matically as the maximum duty The
president is authorized to apply the
minimum rates, however, to imports
| from a country which gives its best
rates to the products OF the United
States and is made the Judge as TO
whether a foreign country accords to
the United States treatment which is
reciprocal and equivalent.
The president is empowered also to
sbrogate reciprocity treaties which
can be terminated by diplomatic ac-
ton.