The Washington herald., 1913-07-19
SIMMONS FILES
TARIFF REPORT
Chairman Of Finance Commit
tee Submits Analysis Of
Senate Bill.
HOUSE RATES REDUCED
Underwood Measure Cut AZ Per
Csnt-Revenues will Exceed
Expenditures.
HOUSE RATES REDUCED

Asserting that the Underwood Simmons
bill as the Senate Committee on Finance
has amended II. decreases the average
ad valorem rate on all imports 2z6
per cent below the rates Of the Payne
Aldrich law. and AZ per cent below the
rates Of the House bill. the majority Of
the Finance Committee of the Senate
yesterday made its formal report to the
Senate in support of the bill.
The report says the House bill free
listed imports valued. on the basis OF
1872. at s10s. 900. 200, and that the Senate
has increased the amount by amend
ments to $1f7. 367, 900. The committee adj
mits that there has been a reduction
In the probable revenues under the bill
as 1t has been amended by the Senate.
of nearly s10.0O0,O00. The average ad
valorem rate of duty levied on imports
for the year 1872 under the Payne-Ald-
rich law is claimed to have been 35S6
per cent. The authors Of the bill as 1t
came from the Senate committee claim
that the average ad valorem duty IL the
Senate amendments are preserved will
be reduced to 1857 per cent.
Analysis of Revenue.
The claim is made for the bill that the
revenues that will be collected under II
for the fiscal year ending June 30. 1914.
will be S2020.000 in excess of the-dis-
bursement OF its estimated revenues
the committee claims II will derive S1,-
100000 from the corporation tax, and
SIS, $50 900 from the income tax for ten
months. The estimates also include for
this period duties under the Payne-Ald-
rich law for two months, exclusive OF
sugar and wool. $40. 65o. 900. and it esti-
mates 81, 900 in revenues on sugar
for eight months under the Payne bill
and four months under the new law, and
claims there will be S.s30.0oo in duties
on wool for five months under the
Payne Aldrich law. The committee also
estimates that IL will collect $S,WooU Tor
the tax on cotton futures.
Your committee has sought, In thel
amendments II now proposes to the
House bill, to further carry out and per-
feet the theory of establishing revenue
producing tariff upon the basis Of COM
petitive rates as is a just and fair inter-
probation in the light OF existing condi-
tons Of the latest authoritative utter
ances Of the party in power on that SUBJ
ject." says the report
The members of the committee ex-
pressed confidence that the Senate bill
will result in a more equitable distribu-
ton of the burdens and incidental bene-
fits OF our system Of customs taxation;
that it will tend to disintegrate monopo-
lies built up under the present system:
that II will enlarge opportunity for in
dividual effort. reduce the cost Of living. |
and relieve the people from the burdens
Of the protective system, strikingly ex-
emplifed in the so-called Payne-Aldrichl
law"
In defending its action in restoring a
tax Of s1.lO a gallon on wine spirits in
the fertilization OF pure, sweet wines,
the committee claims that the law as Il |
has existed heretofore, allowing the use
of such wine spirits free of tax, dis
eliminates, first, against all wine pro-
ducers who are not distillers and who
do not have their wineries at the vine
yard, and, secondly, 1t discriminates
against all other makers and users Of
wine spirits. There is sound reason for
this legislative favoritism," say the COM
mittee.
Income Tax Discussed.
In iustificatio of its action allowing an
additional exemption on account Of de-
rendent wife and children in administc--
ing the income tax, the Finance Commit
tee says that while the amendment to
ference in the volume of revenues de-
rIvable from the tax. it is deemed equit-
able as recognizing the added obligations
on account Of marriage and children and
salutary as emphasizing the family as
the unit in our social structure.
Referring to an amendment to the in
come tax section, which exempts the in
comes of States, cities, towns, and Other
political subdivisions, which are in re-
ceipt of income from sources other than
that of taxation, the committee say:
"One State enjoys a revenue from the