The Winchester news. [volume] (Winchester, Ky.) 1908-19??, 1909-03-18
PAYNE DESIRES PROMPT ACTION
ON THE NEW TARIFF SCHEDULES
House Committee Tackles Bill Thursday The Debate viii Begin
Monday In The House. A

lutely murders the wood pulp and pa
per industry of Maine" he said. This
is the most important industry IN our
state, and we shall resist the change
with the utmost possible vigor.'
Mr.. Hale authorized this statement.
but while ne found many Of the fea-
lures to be Objectionable from his
point of view. he declined to specify
them. He predicted that the bill
would be before congress for the next
three months or more.
The committee on finance will not
grant any hearing, but will consider
any written or printed statements
which may be presented to it.
One of the most significant features
of the Payne bill is the new draw
back provision. 1t extends this priv.
lege so that an American manufacture
er need NOT use the material which
he has imported in order to secure
the refund duties which he has paid
on his material If he uses materials
produced in this country in equal
amount with the material which he
has imported he will be entitled to
the drawback benefits, provided the
domestic materials are of equal pro-
ductive manufacturing quality and
value
The Inheritance tax provision OF
the bill is similar to the New York
cent on all inheritances over $500
that are collateral iDheritances In
which strangers are the legatees. In
cases of direct Inheritance, the taxes
prescribed are: On $4,000 to $780,
600, 1 per cent; on 100000 to $780,
900. 2 per cent. and on those over
100000, per cent. Il is estimated
that $4,000 600 annually will be de-
rived from this tax.
The Inheritance tax provisions ex-
empt from taxation any property be-
quested to any religious, educational,
charitable. missionary, benevolent,
hospital or infrmary incorporation.
Personal property other than money
or securities bequeathed to a corpo-
ration or association organized exclu-
sively for the moral or mental inn
provement of men or women or for
scientific, patriotic or similar pur-
poses is made exempt from the tax.
A discount of per centum is pro-
vided for if the tax is paid within six
months from the time it is due An
interest will be charged and collected
at the rate of 10 per cent a year il
the tax is not paid within Is months
from the time it accrued. IL an es-
tate is tied up in necessary litigation
per cent interest will be charged.
A special agent to conduct investi-
cations to secure the efficient enforce
ment of the inheritance tax is pro-
vided for at salary of $4,000 year.
In order to prevent the confusion
which attended the enforcement of
the Dingley bill on the day on which
it became law, the Payne bill is not
to take effect until the day after it
is enacted.
The estimated revenue under the
tariff duties prescribed in the bill
amount to S300,000.0 600. This is an
increase of about $4,000 900 over the
Dingley bill.
The principal changes in the exist
ing schedules are as follows: Coffee
is left on the free list. No change is
made in the tax On beer. A tax of 8
cents pound is levied on tea coming
from the country where it is produced
and cents on tea coming from other
countries. Tea is on the free list in
the Dingley law.
Wood pulp coming from any coun-
try that does not have an export duty
on certain forest products is to be
admitted free. Printing paper duty is
reduced from sc 2-3 and so per cent,
according to value.
The tariff on lumber is reduced so
per cent, and the same is true of
steel rails and some other steel prod
ucts.
Coal is placed on reciprocal basis
and so are agricultural implements.
They will be received free from any
country that admits free similar arti-
cles from this country.
Wool of the first and second class
is unchanged The same is true OF
oil.
A reduction of cents Der 100
pounds is made IN refined sugar.
Iron ore Is placed on the free list
Hides are free and shoes reduced
40 per cent.
The greater part Of the increases
have been placed on Injuries, and
cuts have been made where it was
thought they would increase the rev.
enue to the best advantage.
To provide against panic conditions
there is re-enacted the provision for
the issuance of certificates to ,un one
year to replenish the treasury. rails
ing the amount from sl00.000,000 to
$3.50. 600 900, the amount sufficient to
provide at any time against two OF
three years of depressed business
conditions.