Lawrence democrat. (Lawrenceburg, Tenn.) 1884-1925, 1913-05-21
IS WISE LEGISLATION
WORKING or UNDERWOOD TAR
lFF WILL BENEFIT COUNTRY.
American Manufacturers, Second 10
None, Are Sure to Rise TO the oe-
easIon and Maintain the Ma
tion'S Supremacy.

That the American manufacturer
spurred by competitive tariff to
greater activity TO retain control Of
his home market, will increase his
efficiency to such an extent that he
will make new trade conquests abroad
is the prediction OF the Democratic
members OF the house ways and
means committee who framed the I'm
derwood tariff bill.
The report signed by the fourteen
Democratic members OF the committee
has been presented 10 the house.
They estimate that for the first fiscal
year following the passage Of the bill
the receipts Of the government will
be less than the disbursements by
S6S,790000 To meet this deficit the
income tax has been framed and 1t is,
estimated the revenue from this tax
will be $7O,125,OOO,
According to the committees estl,
mates, the customs revenue from the
Underwood bill will be $37896OOO less
than the customs receipts from the
Payne law in 1913.
II is estimated that the chemical
schedule of the new bill will produce
$12,sS5,000 as against $12,239 ,742 in
the Payne law, the earthenware seized
ule, $9,497,0O0 as against 81 ,156, 221;
metal schedule, SIS, 549,O 900 as against
$l7Si6,22l; wood schedule, SS9s.O0O
as against $3,O42,s34; sugar schedule,
S4O,l96,0O0 as against S50,95l 900; to-
bacco schedule. $4,000, 900 as against
$25,57l,0OO; agricultural schedule, $21.-
1910 as against $34,146,OO0; spirits,
S2l, 9S7.00O as against S17, 4O9, 900; cot
ton, 81, 257 900 as against S11,0S5, 600;
fax, hemp and jute, $15,9770 600 as
against $40 $4,000; wool, sl2 IA, 900 as
against $27 O72, 900; silk, s16,212, 900 as
against $13,695,OO0; pulp and paper,
S2,957OO0 as against $4,SS6,000; sun
dries, $685.. 900 as against $780,
9S1 900.
The average reductions in duties
from the present Payne law to the
Underwood bill by schedules are as
follows:
Chemicals from 25 to 10 per cent;
earthenware, 90 to SO; metals, "a to
20; wood, u to 3; sugar As to 35;
agricultural, 20 to 16; spirits, s39 to
$3.50; cotton, As to 80; fax, as to 20;
wool, 55 to IS; silks, 81 to "A; pulp
and paper, Fl to IL. Increases: To
bacco, 50 to IS; sundries, "a to 33.
1t is estimated the amount of duti-
I able importations under the bill would
/ increase in value from 1859, 209,915 to
/ $79S956,0g0. The average duty under
the Payne law is 4012 per cent, as
against an estimated average duty I'M
der the Underwood bill of 1880 per
cent.
Under the income tax law it is esti.
mated that 425,OOO incomes, including
corporations as well as individuals,
will be taxable. The greatest amount
of revenue, according to the calcula'
tions, will be derived from incomes
within the range from $4,000 to $500,
600. Over 100 incomes taxable at
per cent, as we'll as /, and per
cent. surtaxes, are included in the
reckoning.
The income from the tax on these
immense incomes will bring in all
told, $5,S26,O00 The committee esti
mates that $4,000 incomes between
$4,000 and $4,000 will be subject to
the 1 per cent. tax, yielding $4,000
According to the estimates, however
the greatest number of taxable in
comes will be in the range of $4,000
to $4,000. These will yield to the
government, If the expectations of the
committees calculators are borne out
by experience, $5,340,000.