The Holly chieftain., 1913-10-10

in revision bill arrived at its last con-
gressional stage when 1t came back
to the house from the final conference
committee with the unanimous in
dorsement Of the Democratic con-
ferees.
The measure, of course, has both its
friends and enemies. According to
the administration. it carries out
four of the party promises. Tariff re-
form, reduction in the high cost OF
living campaign against the trusts. in
that duties have been taken of of
many trust made article. and the In
come tai
The measure, consequently, has q
larger Importance than that of a mere
tariff reform bill. and its effect must
be widespread, both on business and
Industry, and also in connection with
politics. Democratic leaders are con-
adent that business will suffer no un-
toward effect; that consumers will be
benefited
The bill imposes an average ad
valorem rate of from 27 to 29 per
cent The average for the present
Aldrich law is 4O.12 per cent The
average for the Wilson-Gorman act
was 39.45 per cent.
Duties generally have been reduced
on all OF the articles that enter into
the necessaries of life, including the
products of the farm as well as manu-
factured products.
Trust made products In many cases
have been transferred to the free list
or the duties at present imposed have
been substantially reduced
The income tax feature Of the bill is
expected to net some $S3,OOO,OOO. 1t
will call for tax on net incomes of
unmarried persons OF $4,000 and up
wards and on net incomes of married
persons living together, where the
wife or husband is dependent, OF $4,-
900 and upwards.
Experts estimates indicate a sur
plus of $16,00O,0OO over all expend-
lures at the end of the present fiscal
year.
A rate Of 40 per cent. is imposed
on stockings and half hose valued at
not more than 10 cents a dozen pairs.
For stockings between 70 and $1.2O
q dozen pairs duty of 40 per cent.
was agreed upon.
The conferees eliminated the provi-
sion inserted by the senate denying
entry into the American market of
goods manufactured by children under
IA years of age.
The final agreement provided that
any person employed to collect the in
come tax may be utilized by the sec
retary of the treasury in the general
service of the internal revenue bu-
reau.
Agricultural Products and Provisions.
Cattle, sheep and other domestic an
imals suitable for use as food, wheat
and wheat products and eggs, have
been transferred to the free list Re-
ductions have been made on oats, but
ter. beets, frozen eggs, peas, green
house stock, zante currants, choco-
late and cocoa sweetened and extracts
of meats from the rates provided by
the house. The rates have been in
creased over those provided by the
house on broken rice, fish packed in
oil and ground spices. A rate Of 20
per cent. ad valorem is placed on
ground spices in addition to the spe-
cific rate provided by the house on
unground. The senate receded from
the reduced rate placed on fiaxseed
and its amendment placing duty on
bananas. The house classification on
lemons and other citrus fruits is ac-
cepted.
Papers and Books.
The house rates have been reduced
on common paper, box, boards, papers
partly covered with metal leaf or
gelatine and plain basic papers for
albumenizing for Photographic print
ing. The rates provided by the house
for surface-coated papers suitable for
covering boxes has been increased
from 35 to 40 per cent The senate
amendments placing specific rates
graduated according to thickness and
size have been agreed to with several
reductions in the rates provided. The
rates agreed to are approximately
equivalent to the ad valorem rates
provided In the house bill. A specific
rate has been placed on lithographic
views of scenes and buildings 10.
Gated in the United States instead OF
the advalorem rate provided by the
house. This amendment results in an
increase in the rate OF duty.
Cotton Manufactures.
MT
cloth, according to the average mum