The Roswell daily record. [volume] (Roswell, N.M.) 1903-current, 1909-03-17
THE REVISED TARIFF
RAISES MORE REVENUE
l Downward Revision that Increases the Revenue
Forty to Fifty l|ions.--Woo| Tariff Reduced.
Hides Placed on the Free ust.--An Inheritance
Tdx.--A Bond Issue in Time of Peace

Washington, March ia down
ward revision of the maximum and
minimum provisions which impose an
average maximum duty of twenty per
cent. in excess of the present tariff
and numerous provisions by which 1t
is estimated the revenues of the gov
ernment will be increased from forty
to fifty million dollars. are the salient
features of the new tariff bill intro
duced in the house today.
The Recommendations of President
Taft that an inheritance tax be pro-
vided and a limited amount of tobac-
co and sugar be admitted free from
the Philippines, are included in the
bill.
The measure also provides for the
issuance of Panama Canal bonds to
the amount of forty millions to reim-
burse the treasury for the original
purchase of the canal and reenacts
provisions for the issue of treasury
certificates, the amount being increas-
ed from one hundred millions to two
hundred and forty millions.
While no duty is imposed on coffee
tea is taxed eight cents when import
ed from countries where produced
and nine cents from countries other
than where produced.
The internal revenue tax on cigar
rettes is materially increased. while
the tax on beer and whiakey is undis-
turbed.
The steel and lumber schedules,
and the schedules on boots and shoes,
the cheaper grades of wool, refined
sugar, pig iron, window and plate
glass of large sizes. are REDUCED.
Iron ore, hides, tallow, cotton seed
oil and works of art twenty years old
are placed on the free list.
Wool principally used in clothing
is undisturbed, as is pottery.
The principal increases are made
on lemons, cocoa and substitutes for
coffee. coal tar. dyes. gloves and coat
ed papers, and Hthograph prints. The
new tariff bill, made ON the maximum
and minimum basis. does not go into
effect until sixty days after its pass
age. The ethod Of valuation on aTt1-
cles upon which an ad vaforq1m duty
is imposed, is broadened for the pur-
pose OF preventing the practice OF un-
der valuation.
The reciprocity provisions contain
luminous coal and coke and EagIfcuit-
ural implements by which these arti-
cles are given free entry when import
ed from countries which permit OF the
free importation of these ARTICLES
from America.
The maximum and A1inimum pro
vision does away with the necessity
OF continuing foreign trade agree
ments and the President Is authorized
to issue proclamation terminating
these agreements within ten days af-
ter the bill goes into effect. The
French agreement is therefore, term
mated immediately, while the German
agreement would remain in force six
months.
The recommendations for the plac-
ing of wood pulp on the free list and
the reducing OF the duties on print
paper, with certain restrictions, made
by Mann, chairman of the house COM
mfttee, are Incorporated In the bill.
After receiving the bill the House
adjourned until tomorrow. The full
committee on ways and means will
meet at ten o'clock tomorrow to for
mally consider the bill The repubh-
can members expect to be able to re-
port it to the house after one meet
| ing.
Chairman Payne on the Tariff.
Washington, MARCH 17-Rep Ser
emo Payne. chairman OF the ways and
imeans committee, in Introducing the
taTiff bin. gave out the following
statement:
"One OF the problems that confront
ed the committee was the revenue
question. Business of all nations has
been depressed nearly two years and
has thus affected our commerce and
greatly reduced out revenues SO that
| we have a large deficit, but the rev.
enues under the present Law are Inn
proved from month to month as busi-
ness conditions are becoming better" "
Chairman Payne said the commit
tee had taken the year 1896 as a bas-
Is to form estimates NJ the revenue