The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1909-03-18
SERENO E. PAYNE.

SERENO
pulp and paper industry of Maine "
he said. "This is the most important
industry in our state, and we shall re-
sist the change with the utmost pos
sible vigor."
i Mr.. Hale predicted that the bill
would be before congress for the next
three months or more.
| The committee on finance will not
grant any hearings, but will consider
any written or printed statements
which may be presented to it, 1t is
probable that when the house begins
the debate on the bill the hours of
the sessions will be extended The
sittings will probably begin at 10
o'clock in the morning and continue
until 10 or II o'clock at night
Drawback Provision.
| One of the most significant features
OF the Payne bill is the new drawback
provision. 1t extends this privilege so
that an American manufacturer need
not use the material which he has
imported in order to secure the re-
fund of the duties which he has paid
on his material. If he uses materials
produced in this country in equal
amount with the material he has i'm
ported, he will be entitled to the
! drawback benefits, provided the do
mestic materials are of equal product
i've manufactured quality and value
The legal deduction of 1 per cent on
the drawback is provided, but the
expenditure upon which the manufac-
turer proposes to collect the drawback,
must be made within three wears
after the importation of the foreign
material used or checked against. The
secretary of the treasury is author
| lied to prescribe the regulations un-
der which the drawback is paid. The
| privileges of the drawback section
are applied to materials used in the
construction and equipment of vessels
built for foreign government or for
eign trade.
Petroleum is retained on the free list
and the countervailing duty provision
| is retained.
legacies Exempt.
The inheritance tax provision ex-
empts from taxation any property be-
queathed to any religious, educational,
charitable, missionary, benevolent.
| hospital or infirmary corporation. Per-
sonal property other than money or
securities bequeathed to corporation
| or association organized exclusively for
the moral or mental improvement of
men or women or for scientific, patri-
ot1c or similar purposes, is made ex-
| empt from the tax. A discount Of S
per cent is provided for if the tax is
paid within six months from the time
1t Is due. Interest will be charged
and collected at the rate of 10 per cent
year If the tax is not paid within
IL months from the time it accrues.
| If an estate is tied up in necessary
litigation, s per cent will be charged.
A special agent to conduct investi-
| cations to secure the efficient enforce
ment Of the inheritance is provided
for at salary of $4,000 a year.
In order to prevent the confusion at
tending the enforcement of the Ding
ley bill on the day on which it be-
came law, the Payne bill will not
take effect until the day after it is
enacted. One of the new provisions
in the bill extends to the vessels of
war of any nation in the ports of the
United States, the privileges of pur-
chasing supplies from public ware
houses free of duty when such coun-
tries give like privileges to American
war vessels.
Section a."
RenreSentatiye Serapo pavpa chair
man of the ways and means COM
mittee, in introducing the tariff BILL
gave out the following statement:
''One problem that confronted the
committee was the question of rev.
enue. The business of all commercial
nations has been decreased for nearly
two years and thus has affected our
commerce and greatly reduced our
| revenue, so that we have large def
icit, but the revenues under the
present law are improving from
month to month, as business condi-
tions are becoming better.
1.-THE last normal year of imports
was the fiscal year ending June 80,
1906; 1907 was an unusually prosper
GUS year and the revenues from GUS
toms exceeded those of 1906 by thirty
two million dollars. The committee
has therefore taken the year 1906 as
the basis to form its estimate of
the revenue producing qualities of the
new bill. Should the next fiscal year
prove prosperous and the normal con-
ditions of 1906 return, on account of
the large increase OF population, the
revenues for 1910 should show a con-
siderable increase over the estimates
of the committee.
with a return to anything like