The Birmingham age-herald., 1913-06-10
Senate Finance Committee
to Compare Figures of
the New Bill
ESTIMATE LOSS OF
REVENUE GIVEN
Revenue Under Proposed Measure
Would Be 1855, 701, 1870 as Com
pared With S30i,216,694
Under Present Rates

Washington, June IA table prepared
by the Senate finance committee showing
comparative figures based on the Under
wood tariff bin and the present tariff
law. shows the average ad valorem rate
in the proposed law to be S2.99 per cent
as against 1854 per cent under the Payne
Aldrich bill
The estimated loss of revenue through
the augmented free list In the Under
wood bill would be s24,71S,32s on an Inn
port valuation of $lO2 534, 46e. Revenue un-
der the proposed bill exclusive of the
income tax, is estimated at S266, 701, ,1s0 as
compared with $S0i,216,694 under the pres
ent rates. With the income tax revenue
estimated at approximately $4,000, 600 the
total revenue under the proposed bill
would aggregate about SS47, 100000.
In the sundries schedule, wherein the
democrats have added many articles not
heretofore taxed or have increased rates
on luxuries, the ad valorem equivalent
shows an increase over the Payne Aldrich
rates OF 2412 per cent, to 49, and the
estimated revenue from this schedule is
raised from $27O0O,OOo to approximately
$50 100000.
Wool Revenues
Wool revenues, it is estimated. will de-
crease from $27,0000O0 to $4,000 600. The
sugar revenue would decrease from $50 .
900 at the rate of $40, 600 600 a year until
sugar goes on the free list in three years
Majority members of the Senate finance
committee will meet tomorrow to prepare
"a for he 1..,,,A 81
next week.
Senator Simmons, chairman of the COM
mittee. said two of the subcommittee
would not be able to report fully for sew
eral days and each has several PROPOSE
uons to submit to the majority members
for advice. These include questions relat-
ing to the income tax. administrative fea-
lures, and whether certain duties on the
silk schedule should be made specific
| instead of ad valorem
The proposal of the subcommittee IN
charge of the agricultural schedule To put
a countervailins duty on live stock, grams
meats and flouf also win be discussed bs
| the majority members. With these prod.
ucts on the free list, subject to a coun-
tervailing duty, cattle from Canada wodld
be dutiable at from 221s 10 25 per cent adj
Nalorem, a sum equal to the Canadian tax
| on cattle; meats would be dutable at 215c
to &c a pound; wheat 10c to 12c bushel
oats and rye, Sc to 10e a oushel: flour, SOC
to Coo a barrel; rye -four, 45c to soc a
barrel; oatmeal, soc to 60c barrel.
Weeks Consideration
Senator Simmons estima es that the ma
jority members will be at least a week
considering the bill.
To protect the city of New York against
the operation of the proposed income tax,
where it might fall upon the city's inter-
est i'm the earnings of the marlborough
Rapid Transit company, Comptroller
Mathewson and Acting Corporation Coun-
sci Hohle of New York, nave suggested
important amendments to the income tax
provision
One amendment would make it clear that
incomes of states or municipalities cannot
be taxed. The other would exempt earn
ings of any private corporation when the
operation of the income tax would result
i'm loss to a state, county or city.