Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-03-17
Cut in Steel and Lumber.

Cut in Steel and Lumber.
| "a cut of so per cent is made in the
steel and lumber schedules, and iron
Gre, hides, tallow, cotton seed oil, and
works of art more than twenty years
old are placed on the free list. The
tariff on boots and shoes is reduced TO
per cent and on other leather manu-
factures in proportion. The pottery
schedule remains about the same, out
duties on window and plate glass of
smaller sizes are increased, while the
duties on larger sizes are reduced
"The tariff on wool of the first and
second class, used principally in cloth
| ing, was not disturbed, but on wool Of
the third class, known as carpet wool.
is reduced on the cheaper grades. A
| 5 cent reduction is made in the duties
on shoddy and waste, while wool tops
are assessed cents per pound more
than the duty on secured wool, which
is unchanged.
Sugar Duty Reduced.
"The duty on refined sugar Is re-
duced .05 Of a cent per pound and on
dextrin a half. cent a pound. A re-
duction Of half cent per pound is
also made in the duty on starch, with
the exception of potato starch.
Zinc in ore Is assessed cent per
pound for zinc thus contained. The
tariff on pig iron is reduced from 81
to $3.50 per ton.
Embodiss Inheritance Tax.
"The Recommendation made by
President Taft that an inheritance tax
be provided and that a limited amount
Of tobacco and sugar be admitted free
from the Philippines are Included 10
the bill. The inheritance taxs pro-
vision is similar tU the New YORK law.
It provides a tax OF 8 per cent on all
|inherltancess over $500 that are collat-
eral inheritances or in which strangers
are legatees. In cases Of direct inher-
itances, the taxes prescribed are:
On $4,000 to 100000. l per cent; on
100000 to 100000, per cent; on
those over $500,00O, per cent.
It is estimated that $20,OO0.00O an
nually will be derived from this tax.
Maximum and Minimum Basis.
"The bill is made on the maximum
and minimum basis, with the provision
that the maximum rates are not to go
into effect until sixty days after the
passage Of the bill. This basis does
away with the necessity of continuing
foreign trade agreements. Reciprocity
provisions are contained in paragraphs
assessing duties on bftuminous coal
and coke and on agricultural ihple-
ments, by which these articles are
given entry free of duty when imported
from countries which permit free inn
portation of these articles from Amer
lea.
drawback privileges are extended
by the bill and the method of valua-
tion on articles upon which tariff is
imposed the ad valorem duty is broad
ened for the purpose Of preventing the
practice Of undervaluation. The meas
uhe provides for the issuance of Pan
anna canal bonds to the amount of
$40.O00,000 to reimburse the treasury
for the original purchase Of the ca
nal, and re-elects the provision for the
issue of treasury certificates. the
amount being increased from 100000
900 to $250,000,00O. It is provided the
bill shall go into effect the day follow
ing its enactment.
Many Views Obtained.
Fully 300 importers and exporters,
manufacturers and agriculturists, and
tariff experts appeared before the
house committee on ways and means
at the various hearings which began
on Nov. 10 and continued daily until
Dec. %, and also at several supple
mental hearings. Some Of the most
prominent men in the manufacturing
and financial worlds presented testi-
mony of a varied and interesting char
acter. In addition to this testimony
there were thousands of briefs filed
with the committee, which added to
the statistics furnished by the various
government departments and agents
sent abroad, together with special data
compiled by Thomas ]. Doherty, assist
ant counsel of the treasury department
and Maj. Herbert M. Lord, who was
clerk Of the ways and means committee
when the Dingley tariff was framed.
has given the committee information
more complete than has ever been at
the disposal of tariff framing COM
mittee.
Carnegie, schwab, ct al.
Andrew Carnegie, Charles H.
Schwab, Judge E. n. Gary, and other
stool magnates furnished the most in
teresting testimony. Mr. Carnegie, who
caused considerable discussion by pro-
claiming, in a magazine article, that
the steel manufacturers of this coun-
try do not need any tariff protection,
was before the committee for nearly
eight hours. His testimony, while witty
and entertaining, did not offer the tar
iff makers much specific information
regarding the cost Of manufacturing
steel rails and other articles of steel
He dealt largely in theories and de-
ductions and avoided figures, claiming
that he was not familiar with the de.
tails Of the steel business at the pres
ent time. but spoke from his general
knowledge gained in the business be-
fore he retired to private life.