The Oskaloosa herald., 1913-04-10

iron ore, milk and cream, potatoes,
salt, swine, corn, cornmeal, cotton
bagging, agricultural implements,
leather wood pulp, bibles, printing
paper. typewriters, sewing machines,
typsetting machines, cash registers,
steel rails, fence wire, cotton ties,
nails, hoop and band iron, fish, sui
phur, soda, tanning materials, acetic
acid, sulphuric acid. borax, lumber
and products.
These principal items are taken
from the free list and taxed.
Rough and uncut diamonds and pre-
cious stones, 10 per cent.
F>urs. 10 per cent.
Coal tar products, 10 per cent.
Volatile oils, 20 per cent.
Spices. from l cent to cents
pound.
The new rates are estimated to re-
duce the customs revenue about $780,
900, 900 year. This is expected to be
made up by the income tax.
While wheat -four is put on the free
list, duty of 10 per cent. is imposed
against countries which levy a duty
on American -four. This will exclude
-four from Canada and some other
countries.
Designed to Fulfill Pledges.
Endorsed by President Wilson. the
measure represents the efforts of the
president and house tariff makers to
carry into effect Democratic pledges
OF downward revision and of conces-
sions to the American consumer.
Rates on farm products would be
cut throughout by more than so per
cent. in an effort to reduce the cost
of food.
Protection to the steel and imple-
ment manufacturer would in turn be
cut by fully as wide a margin.
Heaviest reductions fall on food
stuffs, agricultural products, wooden
and cotton clothing.
The free wool proposal, backed by
President Wilson and accepted by the
house committee, Is expected to pro-
woke a severe fight within the Demo
cratic ranks of both houses. 1t had
not become clear whether the Demo
cratic opponents OF free wool and
free sugar In the senate would be able
to force a compromise on one or both
these provisions.
Rates Of the Income Tax.
The income tax, which will trans
fer indirect takes ieyied-- through the
tariff into direct tax on the incomes
of individual citizens and corpora
lions, exempts all sums below $4,000
Income in excess of that amount will
pay l per cent tax up to 100000, 2
per cent. from $4,000 to $4,000; 3
per cent. from $4,000 to 100000
and 4 per cent above that figure,
The present corporation tax, levy
ing l per cent on corporation in
comes above $4,000, would be re-
tanned as part of the income tax.
To encourage trade with foreign
countries, the bill would reverse the
maximum and minimum provision OF
the present tariff law The new tariff
rates would be the maximum tariff,
and the president would be given
w hCSOtiatC iCNipioSiAy
treatiest and make concessions 20
countries that grant favors to Ameri-
can exports.
Underwood Makes Statement
In a statement accompanying the
bill Chairman Underwood said the
measure would. In the opinion OF Its
makers. revise the tariff ito basis
of legitimate competition. such as Will
afford wholesome influence on our
commerce, bring relief to the people
in the matter OF the high cost OF liv.
ing and at the same time work no
detriment to properly conducted
manufacturing industries"
"In its tariff revision work the
committee has kept In mind" he
said. the distinction between the
necessities and the Injuries OF life.
reducing the tariff burdens on the
necessities TO the lowest points com
mensurate with revenue and require
ments. and making the Injuries OF
life bear their proportion OF the tariff
responsibilities Many items OF manu-
facture controlled by monopolies have
been placed on the free list as's. ss
lip Reductions on NecessarIss.
Chairman Underwood gave the FOL.