Albuquerque citizen. [volume] (Albuquerque, N.M.) 1907-1909, 1909-03-17

Washington, March 17.-Down-
ward revision, maximum and mini
mum provisions which impose an av-
erage maximum of twenty per cent
in excess of the present tarltt ana
numerous provisions by which it Is
estimated the revenue to the govern
ment be increased from forty to hfty
million dollars are salient features OF
the new tariff bill introduced in the
House today The recommendations
of President Taft that an inheritance
tax be provided and limited amount
of tobacco and sugar be admitted
Gree from the Philippines are in
cluded in the bill.
The measure also provides for the
issuance of Panama canal bonds to
the amount of forty millions to re-
imburse the treasury for the original
purchase of the canal and re-enacts
provisions for the issue of treasury
certificates, the amount being IN
creased from hundred million to
two hundred and fifty million. While
no duty is imposed on coffee, tea is
taxed eight cents when imported
from the country where produced
and nine cents when from other
than a producing country, The in
ternal revenue tax on cigarettes Is
materially increased while the tax on
beer and whiskey is undisturbed.
steel and lumber schedules, boots and
shoes. cheaper grades of wool, re-
fined sugar, pig iron, window and
plate glass of the larger size are re-
duced. Iron ore. hdes, tallow, cotton
seed oil. and works of art twenty
years old, are placed on the free list
Wool. principally used for clothing,
is undisturbed, as is pottery.
Representative Serene Payne,
chairman of the ways and means
committee, in introducing the tariff
bill gave out the following state
ment:
lone problem that confronted the
committee was the question of rev
enue. The business of all CONNER
cial nations has been decreased for
nearly years and thus has anected
our commerce and greatly reduced
our revenue so that we have a large
deficit. but the revenues under the
present law are improving for month
10 month, as business conditions are
becoming better.
"The last fiscal year of imports
was the fiscal year ending June 80
1906: 1907 was an unusually pros
porous year and the revenues from
customs exceeded those of 1906 by
S32,OOO,000 The committee mas
therefore taken the year 1906 as the
basis to form the estimate of the rev
enue producing qualities of the new
bill should the next fiscal year
Trove prosperous and the normal
conditions of 1906 return, on account
Of the large increase Of population
the revenues for 1910 would show a
considerable increase over the estl-
mates of the committee.
with return to anything IKE
normal conditions during the neNl
fiscal year il is safe TO predict the
deficit would be entirely wiped out
but in case it is not the bill provides
for the issue of Panama canal bonds
to reimburse the treasury for me
S4O,OOO0OO paid out in the original
purchase of the canal Thls Woulu
more than make up any probable del
iciency. There is also re-enacted the
provision for the issue of certihcate'
to run one year to replenish the treas
ury. raising the amount from one
hundred million to two hundred anC
fifty mllllOn dOllaTS' an amount sum
clent to provide any time against two
or three years of depressed business
conditions"
The statement gives the rates u
the present law, the Dingley tariff and
shows the changes that the Payne bill
proposes. The abstract Of the bill
continues:
Higher Rate on LuXuries.
"The committee has transferred