The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1913-10-04
REVENUES FROM TARIFF BILL.
DEMOCRATIC MEASURE Is NOW
ON LAST LAP In CONGRESS-.
Leaders Think IL Will Get Prcsi-
dents Signature Before Saturday
More Work I'm sight for Congress
Then, According rO Wilson Pro-
grnmme.

washington, Sept. 29.-The Demo-
cratic tariff revision bill, first on the
programme of reforms mapped out
when President Wilson came into Of
nee. today advanced to it's last con-
gressional stage when II was brought
back to the house from the Joint con-
ference committee with the unani-
nous Endorsement Of the Democratic
conferees.
Leaders In both houses of congress
were confident tonight that the bill.
now practically complete. would be
signed by President Wilson before the
end OF this week. Il scarcely will
leave the centre OF the stage before
the currency bill will be forced to the
front. and coincident with its consid-
GRAFTON will begin the administra-
tion work on the antitrust and rail-
road control programmes which are
60 be brought forward when the De-
cember session opens.
President Wilson is satisfied that
with the tariff bill out of the way.
congress will take up the currency
question. prepared to dispose of 1t be-
fore adjournment. The course to be
followed In the senate has not been
mapped out, but there is a growing
belief among supporters OF the admin
liztration bill that the senate will take
mp the currency question at an early
date. even though it's banking and
currency committee has not settled
the details OF the bill.
The tariff conference report went
TO the house today soon after that
body convened at noon. During the
morning the full conference commit
tee. convened by Chairman simmons.
had given the report its formal ap-
prevail.
Senators Simmons. williams, John
. SON and shively and Representatives
2 Vuoerwoud. Kitchin. Dixon and
'Hsfney. the Democrats Who have ad-
justed all differences between the SEN
ate and house excepting only the cot
ton futures tax proposition. signed the
hnal report. while the Republican and
Progressive members declined to sign.
The house will take up the tariff bill
at IL o'clock tomorrow and II Is be-
heved IL will be passed before ad-
3pufpsSient. 1t Is expected to reach
that body Thursday.
The cotton future tax still Is In dis
pute, the house refusing TO accept the
Socalled Clarke amendment adopted
NY the senate. Expressions from the
White House and from congressional
leaders today. however indicated that
in the final conference over this fea-
iture the whole plan might be dropped
from the tariff bill and taken up as q
separate measure next winter.
Senator simmons. chairman Of the
senate finance committee. tonight gave
out the first complete estimates on
federal revenues and expenditures un-
der the new tariff bill. as computed by
experts OF the treasry department.
who have been working with the joint
tariff conference committee.
For the year ending July 1, 1914:
Receipts s1.029. 900. 900; expenditures
Si.013. .000. 900; surplus S16.O00.000.
For the year ending July 1. 1915:
Receipts $4,000. 900; expenditures
G,oOS.OoO, 900; surplus s1s.OOO.0OO.
The estimated receipts under the
customs tariff. the income tax and the
corporation tax. embraced in the new
tarif. are given as follows:
For 1914: Custom revenues. s270,-
100000; income tax (ten months),
$4,000. 900: corporation tax, $3S, ,O0O,-
600.
The customs revenues will be
larger for the current fiscal year
1914" said Senator simmons. "be-
cause the rates of the Payne -Aldrioh
law have been In force for the first
quarter and will continue in force
on wool and wooden goods until jan
uary l. and ON sugar until March l.
' When the next fiscal year begins,
July 1. 1914. all the rates OF the new
law will he In operation and the tariff
duties collected viii be smaller.
The income tax. which IN collected
for the calendar year. can be collected
for only ten months of the present
year as the law specifies that collec-
tion shall not go back OF March
1913. The estimated decrease i'm tn,
total expenditures of the government
for t9l5-s5. 600. .OO0---is based on the
fact that smaller expenditures are cx-
pected for the army and navy estab-
lishments."