The Montgomery advertiser., 1909-07-31

| ton shall be abrogated by notice of six months from the President to those countries. the notice dating from April 90, 1909. on which date Secretary Knox notified foreign governments that the | United States would soon ask them to l enter into new tariff regulations. The Philippine free trade provision | which was considerably elaborated by the Senate. provides for the free i'm portation of all articles. "the growth | Philippine Islands from material the growth or product of the Philippine Is- lands or the United States. or both. or which do not contain rorefgn materials to the value of more than 20 per cent. | of their total value" Rice Is the on- ly exception to the free provisions. but restrictions are placed upon sugar and tobacco. The free importation of sugar is limited to soo.0eo tons year. mixed. the annual limitation is 3oo.- 900 pounds, on filler tobacco 100000 pounds, and on cigars 15o.ooo.000. Duty Equals Bounty.
 | A provision is included in the bill which levies on all articles upon which any foreign country pays a bounty or l grant upon its exportation, an addi- such bounty.
 It is required that all imported ar- ticles capable of being marked with l out impairment of their full value, shall be stamped with the name of the manufacturer and the country of orig in. An elaborate provision for the ad- ministration of the customs laws was adopted by the conferees. It is prac- | tically the same as that adopted by the Senate. It is intended to prevent | undervaluation of articles on which there Is no foreign market by which | true values may be ascertained. Provision. is made for the establish ment of a customs court of appeals, with headquarters in Washington. It will comprise a presiding judge and four associate judges at salaries of $10,000 year. There are to be ap- pointed to conduct government cases before this court 6 special assistant attorney general at $1o.oo0; deputy assistant attorney general at $7,5oo and four attorneys at $5.ooo each. The internal revenue tax on tobacco Is amended, making the rates on chew ing and smoking tobacco cents e pound. No change was made in the tax on cigars except those weighing under three pounds per thousand. which were increased from 54 to 7B cents a thousand. The rates on ciga. rettes were increased to SIPS per thousand. A prohibition against the use of coupons or special gift pledges Is incorporated in the new law.
 The provision granting farmers the free sale of leaf tobacco places a re- striction on the retail dealer which requires him to record every sale amounting to two pounds or more to one person in one day. A number of other ironclad requirements are in- cluded in the re-draft of this section adopted by the conference committee, A,,k tAh a-A any frauds upon the internal revenues and at the same time save as much of a local market as possible to the to- bacco grower. The power had con- tended for unrestricted sale of amounts up to ten pounds.
 Hits Foreign Built Yachts.
 Foreign-built yachts are subjected to an excise tax of $7 per gross ton, which is to be collected annually on the first day of September. Every corporation. joint stock company or as- every insurance company is required to pay annually an excise tax of l per cent. upon its entire net income over and above $5,000. This section was prepared by Attorney General Wicker sham assisted by other able lawyers in the administrative circle and great care was taken to guard against dou-
 
 publicity which will enable the gov ernment 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 its consideration in the Senate. It Is estimated that from 10000. 900 to S30,0o0.000 a year will be collected un- der this new form of federal taxation.
 The Secretary of the Treasury is au- thoriZed to issue Panama Canal bonds to the extent of s2eo 569, ,000, which sum, together with that already ex- pended, equals the estimated cost of the Panama Canal. It is not intended that the bonds shall be issued except as needed to provide money to carry on the work of canal constructor. The bonds are to be payable fifty years from the date of issue and will bear interest at rate not exceeding per cent When the bonds are sold. the Secretary of the Trasury will restore to the working balance the S6o,0OO. 900 paid originally for the canal proner- ty and the canal zone.
 The re-enactment of the provision authorizing the issuance of treasury certificates for money borrowed to meet public expenditures. increases the amount of the authorization Propo $1o0,O00.oo 900 to $200, ,0o0, 900. The draw Dack provision Of the Dingley law is incorporated in the conference bill in lieu of the drawback of the House btl1 which Is intended to permit the sub- stitution of domestic material in the manufactured article for export to the same quantity that the imported ma terial. upon which a drawback was ob- tainable was used in the manufacture of similar articles for domestic con l sumption. An additional provision was made entitling users of domestic alcohol in the manufacture of perfum cry and cosmetics to secure A draw back of internal revenue tax to the amount of alcohol used in an exported | article.
 Mir. Payne's Statement. MT. Payne's statement comprised an analysis of the bill showing both the increases and the decreases. but this detailed presentation was preceded by a general summary in which he under took to show the extent of revenue increases and decreases according to schedule. According to this showing the total increases were on importa- tions valued at $SS2,512,525 and the total decreases on importations | amounting $4,978,122.12A
 In this preliminary statement, MT. Payne said that he had had made an investigation based on the census re- turns of 1905. showing the amount of domestic consumption of articles upon which duties have been raised and also the articles upon which duties have been lowered by the bill as finally re- ported from the conference commit tee. This had been done because