Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1913-10-08
sOUTH CAROLINA, WEDNHsDAY, OCToBER 8, 1918.
TARIFF REDUCED BY oNE.HALF.
On Foodstuffs-IncOme Taxes In.
creased to Meet Deficiencies.

washington, Oct. 3.-President
wilson's signing Of the Underwood
simmons bill brings into effect one
OF the most far-reaching revisions OF
tariff rates and revenue laws enacted
for many years.
A new income tax, applying direct
ly to the incomes Of citizens, the alb
clifton OF all tariff on scores of items
OF immense Importance to American
industry and American consumers,
and heavy reduction of tariff rates
on most of the articles in general use
in this country are it's chief features.
While certain portions of the new
law 40 not take effect at once, most
Of its provisions, and almost all the
direct tariff reductions, do.
At every port collectors of Gus
toms, appraisers of merchandise and
hundreds Of other employees Of the
treasury department will plunge at
once into the task OF collecting the
nations revenue on a new basis and
with hundreds Of new classifications
and new provisions Of law to compli-
cate their activities.
Must Have Money.
The Federal Government has been
spending nearly billion dollars a
year, and the new tariff law will raise
less than one-third of that sum. Re-
cent estimates by tariff experts in
Congress predict that the rates vii!
raise $24S, 100000 a year, and that
the income tax will raise $10O,O0O,-
00U. The remainder of the govern
ments great income is made up prin-
cipally of internal revenue taxes and
postal receipts.
The income tax probably will
bring the new tariff law most forcibly
to the attention of citizens. Presi-
dent Wilson and Democratic leaders
in Congress believe, however, that
the reduction Of duties on clothing,
foodstuffs and other necessaries of
life, and the complete removal of the
duty from many like articles, will
eventually bring a reduction in the
cost of living" without materially
affecting business prosperity.
A brief summary Of the new tariff :.
law as prepared for the. Senate fol-
lows:
Average percentage OF tariff rates
as compared to the value of all fm- \
ported merchandise, Old law 81 Der
cent, new 4. :. " ~. 2 q per cent
,sAs U 2s lsl Z lH SS asa
Estimated revenue from all import
rates: Old law, $$05.OO0, 900; new
law, $248, 8,000,Oo0.
Estimated revenue from corpora
ton and income taxes: Old law, $37,-
OGO, 900; new law, 100000.
Free List Larger.
Altogether, consumers in the Uni
ted States probably will receive from
abroad, free of all tariff, more than
81 900, 100000 worth of merchan-
disc during the next year. During
1912 the amount of free imports was
more than $3.50, 100000, and when
the tariff is entirely removed from
wool, sugar, iron ore and cheap iron
and other important items, the total
is expected to increase notably. Un-
der the old law more than So per
cent OF all goods brought to the Uni
ted States from all parts Of the
world paid no tariff, and that proper
tion will be increased by the new
law
The free wool provision of the new
law takes effect December 1, 1913;
the free sugar provision May 1, 1916.
The new tariff law, passed four
years after President Taft signed the
existing Payne-Aldrich law. is the re-
suit of more than nine months Of
work in Congress. Hearings were
started January 6 by the House Ways
and Means Committee Chairman
Underwood introduced the tariff bill
April 7, Immediately after President
Wilson had convened the new Con-
gress. 1t passed the House May 8
and the Senate September 8.
Its Main Features.
In the opinion of its makers, the
Democratic leaders Of Congress, the
most important featureS of the new
tariff are:
A reduction of nearly one-half in
the average tariff on foodstuffs and
farm products.
The placing OF raw wool on the
free list and a reduction of nearly
two-thirds in the tariff on woolen
clothing, especially Of the cheaper
grades.
A reduction Of one-third (average)
on cotton goods.
Reduction of the sugar tariff and
it's ultimate adjustment in 1916.
A reduction of one-third (ayer-
age) in the tariff on earthenware and
glassware.
Abolishme~t OF all tariff on meats,
hsh, dairy products, -four, potatoes,
coal, iron ore, lumber and many
classes OF farm machinery and Office
machinery.
General tariff reduction on all inn
portant articles in general use.
throughout the long fight over the
bill the Republican attack OH the
measures has been directed against
those rates which the Republicans
declared were so low as to threaten
destruction to American industries,
through the competition OF foreign