The Caucasian. (Clinton, N.C.) 188?-1913, 1909-03-18
NEW TARIFF BILL PRESENTED
TO CONGRESS.

Introduced i'm House Tuesday by Rep
resentadve Payne-Provisions of
the Bill-WiH Not Go Into Effect
Until After Sixty Days From Date
of Passage.
Washington, D. c.. March 1.-THE
new tariff bill introduced by Mr..
Payne in the House Is a minimum
and maximum tariff bill. The mini
mum rates of duty are contained In
the first section, and the free list for
the minimum rates is in the second
section of the bill. The third section
contains the maximum rates, which
are generally equal to the minimum
rates and 20 per cent in addition
/ thereto and the articles on the free
| list, in the transfer to the third sec
ton, bear duty of 20 per centum
| ad valorem as a maximum rate. The
maximum rate does not go into eff
| feet in any event until sixty days af-
ter the passage of the act. By the
| fourth section the minimum rates are
applied to all goods imported from
any country which gives the United
States as good terms by way of tariff
as that given to any other nation,
and the maximum rates are applied
! to those countries which discriminate
against the trade of the United States
or fail to give the United States tariff
rates as favorable as those given any
other nation. This section is self
acting, making it the duty of the
executive to collect the duties, wheth-
ance with the terms of the bill, leav-
ing it open to the courts to decide
upon the legality of the action.
One problem that confronted the
committee was the question of reve-
nue.. The business of all commercial
nations has been depressed for nearly
two years, and thus has affected our
commerce and greatly reduced our
revenues, so that We have a large
| deficit. but the revenues under the
present law are improving from
month to month, as business condi-
tions are becoming better.
Based on Normal Year of Imports.
The last normal year of imports
was the fiscal year ending June 80,
1906. 1907 was an unusually pros
porous year, and the revenues from
customs exceeded those of 1906 by
$32, 100000. The committee have
therefore taken the year 1906 as the
basis to form their 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 in population, the
revenues for 1910 would show a con-
siderable increase over the estimates
of the committee.
It is estimated that the revenue
under the tariff duties prescribed will
amount to OO,0OO,0OO, an increase
of $1O,O00,O00 over the Dingley bill.
A striking feature is the inherit
ance tax, direct inheritances of $10,-
900 to 100000 to be taxed l per
cent.
Authorizes Issuance of Treasury Ger
tif1cates.
The bill authorizing the issuance
of $3.50, 100000 in treasury certifl-
Gates, to run one year; coffee is
placed on the free list; no increase is
put on the beer tax; per centum tax
is placed on tea from country where
produced and 9 cents from other
countries.
The duty on lumber, steel rails,
and other steel products is reduced
so per cents.
Coal is placed on reciprocal
schedule with countries admitting
our coal free.
There is reduction of cents on
refined sugar, while wool, first and
second-class, is unchanged.
Iron ore goes to the free list, as
also do hides. The duty on shoes is
reduced 40 per cent, but there is g
small increase on window glass.
Chairman Payne stated that with
a return to anything like norma
conditions in the business world the
nations deficit would soon be entire
ly wiped out. II not, however, the
bill provides for an issue of Panama
Canal bonds of $40, 100000, to make
up any probable deficiency. The issue
would be made to Offset the origina
purchase amount paid by the Govern
ment to the French company.
Reciprocal Trade with Philippines.
Reciprocal trade with the Philip
pines. limiting the imports of sugar
tobacco and cigars, is authorized
The Cuban reciprocity provisions arr
preserved, a tax put on the transfel
of property, duty on cigarettes, per
fumery, fancy soap, toilet articles
cocoa, spices, feathers, and furs Il
Increased.
The bill adds a new paragraph tt
the customs act fixing the basis o
appraisement at not less than whole
: sale price of the article imported
This basis of appraisement is ex
pected to result in an enormous in
crease The revenue on printing pa
| per is reduced so TO sc per cent
wood pulp will be admitted free from
, all countries where no export dut
: IL levied.