The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-05-30
TARIFF FREE LIST
TO Be INCREASED
CONTINUED From First Page,

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subcommittee handling the agrIcuI-
tural schedule, and Representative
Underwood. chairman OF the House
Ways and Means Committee, discussed
the matter with President Wilson to-
day. The President ID reported to have
agreed with Senator Williams and
Senator Simmons that raw materials
and their products in the agricultural
schedule should be eaualized in the bill
Instead Of placing raw products on
the dutiable list. and making meats
and -four free as in the bill at present
To equalize them was determined upon
several weeks ago. and the Senate sub
committee to-day is reported 10 have
decided also to put cattle. sheen and
hogs and wheat and oats on the FREQ
list.
Likely TO Go on Free LINT.
Whether the President agreed 10
free listing of the raw materials or
urged that the agricultural products
be made dutiablc in conformity with
the Underwood rates on raw materials
waB not disclosed after to-day's con-
ference, but Democratic Senators were
resigned to the generally accepted re-
port that all these articles would no
placed on the free list. They were also
generally In accord with the definite
m n nS
after his conference with the Pres,
dent that the per cent tariff discount
on imports in American ships would
be stricken from the bill
Representative Underwood and othcr
House leaders. however. are not salts.
fled that the discount conflicts with
treaty provisions, and they are ex
pected to make a fight to have the
clause reinserted when the bill
reaches conference
Free wool and free sugar. as pro.
vided for In the Underwood hin To-
night are regarded to be in a stronger
position than ever, and tightening of
the strings on these administration
measures is reported to he due largely
to President Wilson'S recent attack on
efforts of lobbyists to change the SEN
tlment as to these schedules One DEM
ocratic Senator who heretofore had
been of the mind that a small duty
should have been placed on wool and
that free sugar In three years should
not have been imposed changed his
mind to-day. He now says he is con-
WINGED that both Industries can get
along without protection.
Duties to BE Increased.
Inc cotton schedule is reported now
| to be very unsatisfactory in many in
stances TO the Finance Subcommittee.
and 1t is to be generally -earranced
!
most cases to he increased from the
r, Underwood rates.
! Again to-day the Williams subcom.
mtttee was at work on the income tax
section of the bill and comprehensive
brief. supplementing his oral testimony.
was filed by Darkin p. Kingsley, pres.
dent of the New York Life Insurance
Company, opposing the taxing OF mu.
tual life insurance companies Mr.
Kingsley revealed a point hitherto not
di.7""sst f. that the bill entirely ig-
nores the provision which saws that In.
comes under $4,000 shall not be taxed"
| Not 10 per cent of the policyholders
In cooperative or mutual companies
have incomes over $4,000 Mr. Kingsley
asserted. Yet this bill proceeds to
tax a man, however small his income,
merely because he insures his life"
! Declaring that there are no profits
In mutual life insurance companies, and
that they should he exempted from the
income tax as mutual fire insurance
and other organizations will be. Mr.
| Kingsley pointed out that by State and
/ Federal governments life insurance
companies and their members already
were taxed s2S,50o,00o annually, $1,000
600 being the corporation tax which
is To be re-enacted in this bill.
las it lies before the Senate" he
added. the bill taxes what are mis-
takenly called dividends paid to mem
7
tax, although the Federal government
| has declared that such returns under
the corporation tax used in the abate-
ment OF future premiums are not 'divi-
dends.' To tax them is to levy tax
j on tax; to punish individuals for
effectually doing the very thing the
State is preparing TO do when 1t levles
a tax"
Representative Hull of Tennessee au-
thor Of the income tax has urged the
Senate Finance Committee to he care
full in revising the section lest they |
leave any loopholc through which hold !
ing companies might evade the tax.
Objections VIII BE Met.
Senator Simmons declared to day that |
objections OF foreign nations to the
clause to compel foreign merchants
to submit their books to an American |
agent In cases OF disputed valuations
would be met. In this case, as in the |
preferential on goods imported In
American vessels. the State Depart |
ment holds that protests are Justified |
| The President upheld that view.
More than 100 witnesses from the
New England and Southern cotton sec