The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-04-08
ATTEMPT TO WIDEN
FOREIGN MARKETS
Tariff Bill of Democrats Provides
for Broadcast Kind of
Reciprocity.
POWER GIVEN TO PRESIDENT
He Can Open Up Other Fields on
Same Terms Conferred by
This Country.
ny JAMES j. MONTAGUE.

Washington, April As foreca st
by The Times Dispatch the tariff bill,
drawn jointly by President Wilson and
and introduced at the opening session
Of the Sixty-third Congress, to-day.
includes provision for the widest
kind of reciprocity.
The new bill cuts the rates so dras-
ticaliy that SIS 100000 OF revenue will
be- delctod from the receipts of t.e
receipts of the United States govern
mcnt If it shall pass. This is OK
elusive OF $29,000000 corporation tax
which must pc repealed because OF the
income tax that the bill lovies To make
up for the tarim deficit.
This income tax, rs previously an
nounced, exempts $4,000 a year, and
imposes graduated assessment OF
from to per cent on incomes rang
ing from $4,000 to 500, 900 and over.
above the minimum. one per cent is
the low rate and per cent is the
high rate. II is estimated that the
tax will raise nearly S200,00O,000 OF
revenue, more than enough TO make up
for the tariff cuis. which, theoretically
at least. will result IN the direct bene-
fit OF the ultimate consumer.
The Reciprocity Provision.
The provision. insuring Il larger
measure Of reciprocity than mas hero
toforc been given under any tariff bill,
is as follows
Section lv A-That for the pur-
pose OF readjustinS the present duties
OF importations into the United States,
and at the same time to encourage
the export trade of this country, the
President of the United States is au-
thorized and empowered t. negotiate
trade agreements with foreign natiSns
wherein mutual concessions are made
looking toward frccr trade relations,
and further reciprocal expansion OF
trade and commerce; provided, how
ever that said trade agreements be-
fore becoming operative shall be sub
mittcd To the Congress OF the United
states for ratification or rejection"
This paragraph enables the Presi-
dent If he chooses. TO arrange TO give
the American producer access TO for
eign markets on the same terms as
those conferred by this country In
other words, il enables the President
to give the United States wide trade
opportunity abroad in return for the
wide entree to its own markets extend
ed by the vastly lowered tariff rates
in the new bill.
The tariff bill proper makes drastic
cuts in all necessities, particularly
table necessities, such as meats of all
kinds, which. are placed on the free
list. and butter eggs and milk. which
are heavily reduced. The humble po-
tato is emancipated from duty. Raw
wool is free. Woolen manufactures
and cotton manufactures arc deeply
cut Agricultural machinery Is free,
steel rails and some other iron deriva-
tives are FREQ. and there are heavy cuts
IN the Steel chemical, wool, cotton and
food schedules throughout. Apparent
ly the new bill will effect a heavy saw
Ing to the consumer IT is the Prosi-
dents belief. however. that the cost
OF living may not be brought down di-
rectly by the passage of the bill He
hopes that it VIII break up the mo-
nopoly of opportunity enjoyed by many
of the combinations of industry. and
thus 1t will Indirectly accomplish his
purpose which is TO bring down the
coat OF living till il is within the
reach of the wage Garner
Some Apparent Jokers.
The apparent jokers in the bill are
the exemption from the free wool
schedule OF angora wool, n concession
(Continued on Eleventh. Page)