The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1913-10-15
THE NEW TARIFF BILL
SOME OF MANY GOOD THINGS
CLAIMED FOR 1T.
1t Will Reduce the Prices Of Many or
the Necessities Of Life to the con-

1t Will Reduce the Prices OF MauJ VI
the Necessities of Life to the Con-
sumer.
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, appling direct
" to the incomes of citizens; the abo-
lition of all tariff on scores Of
items Of immense Importance to
American industry and American
consumers and a heavy reduction Of
tariff rates on most Of the articles in
general use in this country are its
chief features.
While certain portions Of the ne"
law do not take effect at once, most
of it's 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 classifcations
and new provisions OF law to compli-
cate their activities.
The Federal government has been
spending nearly a 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 will
raise 100000 q year; and that
the income tax will raise $l22,000,-
600. The remainder Of the govern
ment's great income Is made up prln-
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. President
Wilson and Democratic leaders In
Congress believe, however, that the
reduction Of duties on clothing, food
sturs and other necessaries OF life,
and the complete removal Of the duty
from many like articles, will even
tually bring a reduction in the "cost
Of living" without materially affect
| ing 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 i'm
ported merchandise, old law 81 per
cent; new law q per cent.
Value Of annual imports added to
the free list $142,000,000.
Estimated revenue from all import
rates, old law s305,oo0,0Oo; new law
s24s, 100000.
Estimated revenue from corpora
ton and income taxes, old law, $751;
100000: new law $122,000,000.
Altogether, consumers in the Unit
ed States probably will receive from
abroad free Of all tariff, more than
s1,000,000,000 worth Of merchandise
during the next year. During 1912
the amount Of "free imports" was
more than sSSO,00O,000, 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. IN
der the old law more than SO per
cent. Of all goods brought to the
United States from all parts OF the
world paid no tariff, and that proper
ton will be increased by the new law.
The free wool provisions Of the
new law takes effect December /,
1918; the free sugar provision May
l, 1916.
The new tariff law, passed four
years after President Taft signed the
existing Aldrich-Payne 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 Z, Immediately after President
Wilson had convened the new Con-
gress. It passed the House May 8
and the Senate September 8.
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 reduction Of nearly
two-thirds in the tariff on woollen
clothing, especially Of the cheaper
grades.
A reduction of one-third (average)
on cotton clothing.
Reduction Of the sugar tariff and
it's ultimate abolishment in 1916.
A reduction of one-third (average)
in the tariff on earthenware and
glassware.
Adjustment OF all tariff on meats,
fish, dairy products. -four, potatoes.
coal, iron ore, lumber and many
classes Of farm and Office machinery.
General tariff reduction on all i'm