The Washington herald., 1909-07-18

Az agreement was reached IN the con-
/ ference committee on the tariff bin yes
I terday Gn the paragraph increasing the
| limit of the amount OF bonds 10 Be issued
4 for the construction OF the Panama
/ Canal
/ After talk between Secretary Mac
7 Feagh and Representative Payne. chair
+ man Of the House conferees. the details
I Of Secretary MacVeagh's plan were lssd
I before the conference COMMITTEES and aftsr
/ some discussion we're adopted.
I The issue Of bonds VIII approxiuate
I S5sl Qlef90. the amount OF the estimate
/ submitted By Col Goethals. engineer in
! charge. as the probable cost OF the canal.
The bonds viii not ali be issued al once.
but VIII be hoated as the necessities OF
/ the construction require
WnI Restore Balance.
/ An issue under the increased authorfza-
I ton viii be made IN the near future %
/ meet the needs Of construction and 70
1 furnish Ea230.999 70 restore 70 the Treas
/ ury balance the amount taken out of =
/ 20 pay for the canal property purchased
D
I land IN the Canal Zone
/ The bonds VIII draw a rate Of interest
! not 20 exceed 3 Per cent. and VII rua
I f0r fifty years. The conferees we're much
( relieved 10 get this important matter
/ disposed OF. but fer the present viii not
give out the language OF the amendment
The conferees considered and disposed
. OF a few paragraphs in the cotton sched-
uie and discussed other strong paragraphs
( ia the bllL but most o. the tine was
given Up 70 the consideration q tha
Panama Canal bonds
Aidrich n Caller.
I Senator Aldrich and Repressntativs 3
1 Payne went 20 the Waite House for-dln-
ner last utgiis
I Senator Bradley o. Kentucky. snd
James c. Wheeler. deputy commissioner
OF internal revenue. were also p-esent.
and consideration was given 70 the To-
bacco schedule OF the tariff bin
The principal subject discussed vas
Senator BradIey-s smeDdment to the bin.
which was adopted By the Senate, re-
moving the tax from leaf t0bacco- There
I has been some opposition 20 the adoption
I OF this amendment in the conference. and
! the Senator from Kentucky called at the
White House and took the matter Up with
I the President
I The government VIII lose several MI
hons "a revenue from the removal o. tie
tax. but the heneht VIII accrue 70 the
( growers OF the LEAF in Kentucky and else
where. and II IS expected that the iegis-
laJion VIII prove very popular with the
/ farmers.
The loss 20 the revenues by the re-
DOvaI OF The tax from leaf tobacco VIII
be much mere than restored BY the extra
duties resulting from the Increases made
in the manufactured tobacco rates. as the
result Of the crusade by Senator Bever-
idge. Of Indiana. in the closing hours ot
the consideration OF the tartT bill
Would Help Tobacco.
President Taft has intimated that he
was disposed 10 favor the removal OF the
tax from leaf tobacco.
The draft OF the corporation tex
amendment has not yet been returned
70 the conference by Attorney General
Wickersham. Reports have reached ths
Capital IN the last few DAYS that The
Attorney General IS having a trying
4 time working out the details OF the ex-
/ emptions 20 be made under the law.
I There Is no disposition IN the confer
3 ence 10 offer resistance TO the ad0ptso1
Of any form OF corporations tax amend
ment which the President and the At
/ torney General may frame. u Is not ex-
/ pected that there VIII be much discus
I sion over the matter when II is finally
I submitted
At the morning session Of the com
i mittee the wool schedule was completed
I and practically agreed 10. The duties on
wool tops OF cOmbed. wool were reduced
materially and compromising reductions
were made in the products OF wool tops.
namely. yarns and wOmen's and chill
! dren's dress goods. OF which wool is q
/ constituent element
| The language Of the amendment relat-
/ ing 20 wool tops as finally agreed on IA
I paragraph 81 Of the bin viii be n
about the following form:
On combed wool. OF tops. wholly or
7 IN part Of wool. valued al not less than
- cents Per pound. the duty per pound
shah be two and One-fourth times the
duty on one pound OF unwashed wool OF
I the first class. when valued az more than
- cents per pound. the duty per pound
shah he three and One-third times the
duty OF unwashed wool OF the first class:
and IN addition 20 the foregoing. 80 per
cent ad valorem-
Duty on Yarns
In paragraph SO the duty on yarns
worth 50 cents and Under a pound. which
are the product OF wool tops. was re-
duced 20 Der cent, and a Ike reduction
was made IN paragraph So OF the bin on
women's and children's dress goods con-
sisting partly OF wool Nearly al OF the
session yesterday morning was devoted
70 the Wo0len schedule
The conferees have not been able 10
reach an agreement as 20 the duty on
lemons. The House increased the rate
from I cent a pound IN the existing law
Continued on Page 2, Column 9.