Albuquerque morning journal., 1913-06-12
Already Estimated Its Action
on Underwood Bill Has CIT
Revenues Million and a Half
Dollars Yearly,
HEMP LATEST PRODUCT
TO BE MADE UNDUTIABLE
Argument Made That if the
Products OF Farms Are 10
Have Tariff Removed Twlne
Shouldn't Be Taxed,

WASHINGTON june =e-thungps in
the Underwood tariff bin by the son
ate finance suh-cummittcc transfer.
ring proposed dutable articles to the
flee list. viii aggfeeute an estimated
annual loss IN revenue TO the govern
ment OF nearly a million and half
dollars a year
This eurtailment Of the total esll-
mates for revenue under the house
bin is based only on articles SncNn
to have been transferred 20 the free
llst thls tar upon subcommittee re-
conlmendatious und does not take into
account the decreases IN duties which
win be postponed OF many articles IN
var GUS schedules Added 10 the s2a,-
O0O0O0 estimated loss In rcvenu' un-
der the house hill free list. this would
aggregate tgt.5o0,OO0.
Included III the senate lst, arc TIE
rp,unues that would be derived frcn,
hemp, which the Underwood bin makes
dulinblc. but which the senate sub
committee decided toduy should hc
transferred 10 the free list Hemp wilt
De- sent 10 the caucus on the free list
ON the ground that II belongs there
&c other products Of the farms such
as cattle and wheat are 60 be 'rcc'
listed. us II would result IN cheppcr
Irvine te the farmers and compensate
them aansNEat hy reducing their
harvesting expenditures. Hemp, both
plain and haekled. tho aub.eoiumlitec
purposes to remove from the dnii-
uhlc hst the former from sii.s0 a
t1n and tie latter from one cent q
pound IN the Underwood bill
s,np OF this loss in revenae may
be made up by eountefyalling ln,iea
on certain agricultural products hut
this amount It Is estimated. would
not be large.
Among the articles which the sem
ate subcommittee have added 20
The free list ana the estimated revc.
nues cut off arr.
Pig iron. Sl20.000, ferro manganese
and splegelelaen, sis6, 500, hemp, SIS
400. livestock. S5sa. .000; wheat, S20O,
coo Photographic films. Ssi6,OOO
cedar wood. $4,000 coal tar dyes
100000 u total Of Si.f2a,l00.
when al the sub-eommlttees have
completed their recommendation this
amount probably viii be increased.
The minority members OF the H.
nance committee went on record To-
day as opposing publication at this
time Of the detailed changes IN the
Underwood LII approved by them
from the subcommittee recommends
tlonR Senator Simmons, chairman
of the committee. said that the ma
iorHy mad instructed him 20 make
general announcements only regard
ing tho committees actions.
The committee had under consid-
oraton the changes IN the cotton
schedule proposed by senator John
stons subcommittee In this aehed-
lle. the net result Of the altered rates
Wll increase the schedule over thr
average cotton rates in the Under.
wood bin about 8 per cent the prin-
cipnl changes affecting cotton yarns.
This Ii the only schedule In when
the sennte action VIII result In an IN
creuse
The metal and entthenwufe sehod-
nIes we're considered for "a time To-
dny. but discussion on them was con
linned until tomorrow senator VII
uams subcommittee still is WORKING
ON the income tax and the Admins
tratlye provisions Of the bill but cN-
meets Ia be able to report tomorrow
II has been decided to eliminate the
ant. dumping clause and the per
cont tariff discount on imports IN
American ships and SOME modification
win he reported Of the provisions di-
recting foreign manufacturers to SUP
mlt their books when valuations are
In dispute. The income tax also WI
ho modified to give mutual iiie ~
surance companies an opportunity 70
claim exemption hy proving they nir
NOT conducted for profit.