The Columbus journal., 1909-03-24

ton of these articles from America
The inheritance tax provision OF the
bill is similar to the New York state
Law. It provides q tax Of i've per
cent. on all inheritances over $500 that
are collateral inheritances or In which
strangers are the legatees. In cases
of direct inheritance the taxes pre-
scribed are: On $4,000 to 100000.
one per cent: ON 100000 to $500. 900.
two per cent. and on those over $780,
90. three per cent. 1t is estimated
that $4,000. 900 annually will be de-
rived from this tax.
Ends Foreign Trade Agreements.
The maximum and minimum pro-
vision of the bill does away with the
necessity of continuing the foreign
trade agreements. The abrogation of
these is provided for in . section
which authorizes the president to
issue notices of the termination OF
these agreements within ten days ait
er the bill goes into effect. The
French agreement would therefore ter
inmate Immediately. while the Ger
man agreement would remain in force
for six months.
A provision in the bill is designed
to meet the conditions resulting from
the patent laws of Great Britain.
which requires that patentees must
manufacture their articles In Great
Britain. This provision applies the
same rules to patents taken out In
this country by aliens as applied to
Americans in the country of the aliens.
Drawback privileges are extended by
the bill and the method of valuation
on articles upon which the tariff i'm.
poses an ad valOrem duty is broad.
ened for the purpose of preventing the
practice of differentiation.
| Payne Explains Bill.
The following explanation Of tho
form of the bill was made by Mr..
Payne:
The new tariff bill 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 a duty of 20 per cent. ad
valorem as a maximum ratio. The
maximum rate does not go into erect
in any event until GO days after the
passage of the ac.. By the fourth
section the minimum rates are ap
piled to all good terms by way OF tar
if 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 10 give the United
States tariff rates as favorable as
those given any other nation. This
section is self acting, making 1t the
duty of the executive to collect the
duties. whether minimum or maxi
mum. in accordance with the terms Of
the bill. leaving it open to the courts
to decide upon the legality OF tSt
action.
"One problem that confronted thu
committee was the question OF reve
nue.. The business of all Commercial
pations has been depressed for nearl.
two years, and thus has affected oul
commerce and greatly reduced oul
revenues, SO that we have Iarg'
deficit, but the revenues under tn
present law are improving from month
to month, as business conditions ART
} becoming BETTER
Changes by Payne Bill.
The statement gives the rates II
the present law, the DinSley tarih
and shows the changes that the Payn'
bill proposes. The abstract of the bill
continues:
.The committee have transferre,
} some articles from the free list to tn
. dutiable, and have increased dutie
on others for the sole purpose of in
creasing the revenue. Most of thes
articles on which duties have beel
increased are luxuries which hav
been increased as follows:
"Perfumeries and toilet article
from so to GO per centum ad valorem
: fancy soap. from Is to 20 cents pc
pound: chicory root. raw. not dried
from one cent to ~ cents per pound
roasted from ~ cents to i've cent
} per pound ->
/ Cocoa, crude, transferred from tn
: free list to the dutiable, at four cent
: per pound; prepared or manufactured
, increased two cents on each classif
, cation except that valued above 3
: cents per pound. which remains tn
I same. Ten per centum ad valorem
= also added to the duties assessed o
Y that valued between Is and IS cent
= per pound. Powdered cocoa from Nv
: to nine cents per pound.
American Paragraphs in china.
American nhOnOgranh cOmpanieA d