The Prescott daily news., 1909-08-06

rough lumber, print paper, coal and iron and glove schedules ranked next ln importance during the closing days Of the controversy.
 IT hides came in free, the important , New England boot and shoe manufac- turing interests would consent to q re- duction of the tariff on their products, otherwise they would continue to fight. The solving of the hides problem left 1t simple matter to agree to lower duties on boots and shoes-the Ding ley rate being 25 per cent Saddlery and harness were cut to 40 per cent, as against the Dingley rate of 45 per cent. The president resorted to the unusual method of sending written message to the conference committee demanding lower rates on lumber and gloves than the Payne bill provided. and he secured them
 Wool and Cotton.
 The wool schedule underwent no change of consequence, but the entire cotton schedule was reconstructed and the phraseology greatly changed in the hope of preventing reductions through decisions by the courts such as have characterized the administration of the Dingley law during recent years. In many instances the rates intended to be imposed by the Dingley law were cut by these decisions, the reductions in some instances being from 60 per cent to 8 per cent ad valorem. Probably the most marked reduc- tions are found in the metal schedule Beginning with a decrease in the rate of iron ore from 40 to 15 cents per ton, there Is general reduction throughout that part of the bill pig iron going down from $4 to $2.50 per ton and scrap iron from $4 to $1. The reduc- tion on many of tte items in this schedule amounts to about 90 per cent Rough lumber goes down from S1.5O to $1.25 per thousand feet, with cor on dressed lumber
 The president was subjected to se- verest pressure from both the upward and downward revisionists throughout. The upward revisionists told him that a reduction of duty on hides and leather manufactures would make the next congress Democratic, in which event they argued that Taft would not possibly be renominated for the pres idency. The "downwards" told him that Roosevelt would surely be the next Republican candidate for presi- dent if the campaign promises for a downward revision were not fulfilled.
 The Corporation Tax.
 The president had a highly difficult task also in preserving his scheme for corporation tax intact in the Payne bill. This feature is clearly the most unpopular one in the entire measure, so far as members of the senate and house were concerned. Many of the members argued to the president that the tax as provided for was uncon- stitutional. Resolutions will be intro- duced in the various state legislatures conforming the act and recommend ing its repeal. according to statements made by various congressman in Washington.
 The corporation tax of 1 per cent on the entire net income over and above $5.OO0 received by corporations from nll sources. exclusive of certain items must be paid on or before June 30 each year Persons authorized to make returns or statements to the government and who make returns OF statements of a fraudulent nature are subject to fine of $1,000 and i'm prisonment for one year.
 During the closing days of the tar if controversy, before the bill was voted on for final passage, over forty Republicans who had grievances of one sort or another against certain of the provisions of the bill stated that they would vote against it. They had it in their power to defeat the meas ure and force the president to call another special session in September or October. They had the party lead CTS plainly worried for a time, but the able peacemakers at the capital, including President Taft himself, suc- ceeded in calming the ruffled waters at last.
 HISTORY OF THE BILL.