Perth Amboy evening news. [volume] (Perth Amboy, N.J.) 1903-1959, 1909-03-17
Inheritance Tax
One of The
Features.
THE REVENUE
epecial ou united Press W.re.

Washington, March 17-Congress
received the new tariff bill today
from Chairman Payne, of the Ways
and Means Committee, whose name
the bill bears. 1t is the product of
five months work on the part Of the
committee and contains 100000
words.
The estim ated revenue under the
tariff duties prescribed by 1t amount
to $300,000,000, an increase of
S10,00O,000 over the Dingley tariff.
A striking feature is an inheri-
tance tax. 1t directs that all inher-
itances of from $4,000 to 100000
be taxed at one per cent; from
100000 to $500, 900, two per cent;
over 100000, three per cent. Col
lateral beneficiaries are to pay five
per cent. on all amounts over $500.
The bill authorizes an issue of
treasury certificates to the amount
of 100000 to run one year.
Coffee stays on the free list. There
no increase on beer tax. Eight
.ents a pound tax is placed on tea
from the country where produced,
nine cents from other countries.
Lumber is reduced fifty per cent.
also steel rails, and steel products.
Coal is placed on a reciprocal basis
with the countries admitting United
States coal free.
Wool, first and second class, is
unchanged. There is reduction OF
Iron ore is placed on the free list;
hides are free; shoes are reduced
forty per cent. The tariff on win
dow glass ia increased.
Chairman Payne, In statement,
said that with the return to anything
like normal conditions the nation s
deficit will be entirely wiped out. If
not, the bill provides for an issue of
Panama canal bonds for $40,000,000
to make up any probable deficiency.
The bill provides reciprocal trade
with the Philippines, limiting the
imports on sugar, tobacco and CT
gars. There are Cuban reciprocity
provisions included. In the measure.
A preserved tax is put ON the trans
fer of property. Cigarettes are In
creased; perfumes. fancy soap and
toilet articles and cocoa, are In
creased; spices, feathers and fur are
increased.
The bill adds new paragraph tc
the customs act, fixing the basis ol
appraisement at not less than the
wholesale price of the article when
offered on the market. This basis
Is expected to result In an enormous
increase in revenue.
Printing paper is reduced so to
66 per cent; wood pulp Will be ad-
mitted free from all countries where
no export duty is levied.
A section is added applying to
patents obtained by aliens In the
United States which will CONF pei for
eigners obtaining patents to build
factories here and manufacture here
for our trade. Provision Is made to
terminate the various commercial
agreements with foreign countries by
notice.
1t is provided that the bill go into
effect, the day after it's passage.
Following are some of the In
treases: Coal, tar and dyes, thirty
TO thirty-f1ve per cent; cement is
the same; asphaltum and bitumen,
nfteen one-hundredths of cent per
pound cast polished glass is in
creased from two to ten per cent;
SIN aller sizes of watch movements of
more than seven Jewels, seventy
cents each; eleven to fifteen jewels,
s1.25 each; over seventeen Jewels,
unchangd. Watch cases are un-
changed.
Zinc in ore, twenty per cent. ad-
valorem or cent a pound. Zinc
contained in building stone is re-
duced six cents.
Pig iron Is reduced from 81 to
fifty cents per ton; scrap iron from
"a to fifty cents per ton; bar iron
from one-sixteenth of one cent to
four-tenths of one cent per pound;
beams, joints, angles, etc, from five
tenths OF one cent per pound to
three-tenths of cent per pound;
hoop iron and steel bands, reduced
from thirty to fifty per cent; steel
rails and railway bars from 81 to
$3.50; white lead from two and
seven-eighths cents per pound to
two and three-eighths cents; fire
brick. from forty-flve to thirty-flve
per cent; marble, sawed or dressed,
from S1.10 to 81 per cubic foot;
steel ingots from three-tenths of a
cent per pound to seven-fortieths of
a cent; boiler tubes from two to one
cent per pound.