Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1909-03-19
a1isesllaasous 8eadiug.
THE NEW TARIFF BILL.

THE NEW TARIFF BILL.
contsmplates An Increase In the Rev
enues of Fifty Million Dollars.
The long awaited tariff bill was pre-
sented in the house Of representatives
last Wednesday by Representative Sc
reno E. Payne of New York, chairman
of the ways and means committee. An
increase Of $40,0o0,000 to $50.000,000 In
the annual revenue Of the country will,
1t is estimated, result from the changes
proposed, making total of about
$500 200, 900.
The bill contemplates downward re-
vision with maximum and minimum
provisions which impose an average
maximum duty of 20 per cent In ex-
cess of the present tariff. The recon-
mendations made by President Taft
that inheritance tax be provided and
that limited amount Of tobacco and
sugar be admitted free from the Phil
ippines-are included In the bill. The
measure also provides for the issuance
Of Panama canal bonds to the amount
of $40,000,000 to reimburse the treas
ury for the original purchase Of the
/ canal and re-enacts the provision for
the issue Of treasury certificates, the
amount being increased from $780,
100000 to s25o,000,0oo. The bill was
/ referred to committee,
i Some Of the salient features of the
bill follow:
! An additional duty Of one cent per
yard is placed on mercerized cotton
fabrics, with small additional duty
on lappets and an increased duty on
stockings fashioned and shaped wholly
or in part on knitting machines.
Coffee is on the free list; tea Is tax
ed cents per pound and cents when
brought in from other than the produc-
ing country.
Iron ore is on the free list, a re-
duction from the present rate Of 40
cents ton. The duties on manufac-
lures Of iron and steel are materially
reduced. The plate and steel rails are
i reduced.
Hides are on the free list and duties
on manufactured leather reduced; and
shoes reduced 40 per cent.
Lumber and timber duties are cut In
half
An inheritance tax is provided, esti-
mated to bring in $2o.o0o,0oo.
There Is to be reciprocal free trade
with the Philippines, with a limita-
ton on the amount Of sugar and to-
bacco annually to be imported.
Reciprocity with Cuba continues.
The internal revenue tax on cigar
cites Is increased from So to $3.50 and
from 81 to $1.50 per thousand. Beer
and whisky are not touched.
| Sugar Is reduced five one-hundredths
of cent per pound.
The cheaper grades Of wool are re-
duced.
Tallow, cotton seed oil and works Of
art more than twenty years old, are
placed on the free list s-i4s-as's'
The tariff on boots and shoes Is re-
duced 40 per cent and other leather
manufactures in proportion. The pot
terry schedule remains about the same.
but the duties on window and plate
glass Of the smaller sizes are increased,
while the duties on the larger size are
reduced. The tariff on wool Of the
first and second class used principally
in clothing is not disturbed, but on
wool Of the third class, known as car
pet wool, 1t is reduced on the cheaper
grades. The recommendation for plac-
ing wood pulp on the free list and re-
ducing the duties on print paper, with
certain restrictions, made by the Mann
committee of the house, are incor-
porated in the bill.
The duty on refined sugar is reduc-
ed five one-hundredths Of cent per
pound and on dextrin, one-half cent
a pound. A reduction Of one cent
pound is also made In the duty on
starch, with the exception of potato
starch. Zinc ore is assessed one cent
per pound for the zinc contained. The
tariff on pig iron Is reduced from "a
to $3.50 per ton.
The principal increases are made in
the duties on lemons, cocoa and sub
stitutes for coffee. coal tar, dyes,
gloves, and coated papers and litho-
graphic prints.
The new tariff bill Is made on q
maximum and minimum basis, with
the provision that the maximum rates
are not to go into effect until so days
after the passage Of the bill. Reciproc-
| ity provisions are contained In the
paragraphs assessing duties on bitum-
inous coal and coke, and agricultural
| implements, by which these articles
are given entry free Of duty when i'm
ported from countries which permit
| from America.
The inheritance tax provision Of the
bill is similar to the New York state
law. It provides tax Of five per cent
| on all inheritances over $500 that are
collateral inheritances or In which
strangers are the legatees. In cases
of direct inheritance the taxes prescrib-
ed are: On $4,000 to 100000, one per
cent; on 100000 to 100000, two per
cent, and on those over $500, goo, three
per cent. 1t Is estimated that $20,000,-
900 annually will be derived from this
tax.
The maximum and minimum pro-
vision Of the bill does away with the
necessity of continuing the foreign
trade agreements. The abrogation Of
these Is provided for In section
which authorizes the president to issue
notices Of the termination Of these
agreements within ten days after the
bill goes into effect. The French agree
ment would, therefore, terminate i'm
mediateiy, while the German agreement
would remain in force for six months.
The time that must intervene before
the operation Of the other reciprocity
treaty agreements would become ef-
fective, ranges from three months to
one year.
Drawback privileges are extended by
the bill and the method Of valuation
on articles upon which the tariff i'm
poses an ad valorem duty Is broadened
for the purpose of preventing the prac-
tice Of under valuation.
Mr.. Payne, in introducing the bill,
gave out a statement in part as fol-