The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1909-08-12
In the administrative circle, ana great
care was taken to guard against double

In the administrative circle, and great
care was taken to guard against double
taxation.
Provides Publicity.
y provides a form of publicity which
will enable the government to exercise
supervision over corporations. The
form OF returns which must be made
by corporations and other features of
the corporation tax law were made
public In detail during it's considera-
ton In the Senate. It Is estimated that
be collected under this new form Of
federal taxation.
Millions for Canal.
The secretary of the treasury 10
authorized to issue Panama canal
bonds to the amount Of $3.50, $50 200,
which sum-, together with that al
ready expended, will be equal to
the estimated cost of the isthmus
waterway.
It is not intended that the bonds
shall be issued except as needed to pro-
vide money to carry on the work of
canal construction.
The bonds are to be payable so years
from the date of issue. and will bear
interest at a rate not exceeding 3 per
cent. When the bonds are sold the
secretary of the treasury will restore
to the working balance the $50, OOO, 900
paid originally for the canal property
and the canal me
The re-enactment of the provis-
ion authorizing the issuance Of
treasury certificates for none bor-
rowed to meet public expenditures,
increases the amount Of the au-
t%horization from 500, 000, 900. to $780,
OOO, 900.
A large number of other provisions
in force under h existing tariff law
~-~ ii - 80 hpyy
with a few changes in ~phraseology in
several cases. b.
The drawback provision of the
Dingley law is incorporated in the
conference bill In lieu of the draw
back Of the House bill, which In
tended to permit the substitution Of
domestic material in the manufac-
tured article for export t. the same
quantity that the imported mate
rial, upon which a drawback was
obtainable, was used in the man.
ufacture OF similar articles for
domestic consumption.
An additional provision vas adopted
emitting users of domestic alcohol in
the manufacture of perfumery and cos
metics to secure a drawback Of internal
revenue tax to the amount of alcohol
used in an exported article.
Representative Payne's statement
comprised an analysis of the bill. show
li8 DOll lIlCTcdSe d1O Increase, ana
detailed presentation was preceded by
a general summary in which he under
took to show he extent of revenue in
creases and decreases according to
schedules.
Shows Total Increases.
According to this showing, the
total increases were on inporta.
tons valued at $s52,512,525, and
the total decreases on importations
amounting to $4,978, 1922, 124.
In this preliminary statement, Payne
said that he had had made an inves-
tigation based on the census returns of
1905, showing the amount of domestic
consumption of articles upon which
duties have been raised and also the
articles pom which duties have been
lowered by the bill as finally reported
from the conference committee.
This had been done because compar-
isons have been based upon the
amount OF importations, he said.
Duties" he said, have been
lowered where they were too high
under the present law, sometimes
prohibitive in character, and for
that reason the importations were
comparatively small. On the 9TH
er hand, they have been raised in
some instances where h tariff was
insYficient for protection and the 3,
importations were yer great"
Then he gave the following tables.
which shows the consumption value of
articles on which rates Of duty have
increased and decreased in all
cases where the amount Of protection
could be a~scertained.