Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1913-10-08
new TARIFF BILL
NOW LAW OF THE LAND
President Wilson Signed Under.
wOOd-SimmOns Bill on Friday
Night.
EFFECT ALREADY SEEN
IN TIGHTENING OF BUSINESS
Brief Summary of Law Which
Makes Drastic Changes in
Business Conditions
Throughout
Nation.

bill, passed by the democratic con-
gress, is now the law of the land
having been finally signed by
President Wilson on Friday night
at nine o'clock, and it brings into
effect one of the most far-reaching
provisions of tariff rates and laws
enacted in many years.
A new income tax, applying di-
rectly to the incomes of citizens
the abolition of all tariff on scores
OF items of immense importance ia
American industry and American
consumers and heavy reduction
of tariff rates on most of the arti-
cles in general use in this country
are its chief features.
While certain portions of the
new law do not take effect at once
most of it's provisions and almost
all the direct tariff reductions, do.
At every port collectors of GUS
toms, appraisers of merchandise
and hundreds of other employees OF
the Treasury department have
plunge at once into the task of col
lecting the nations revenue on a
new basis, and with hundreds OF
new classifications and new provi-
sions of law to complicate their ac-
tiyities.
The federal government has been
spending nearly billion dollars a
year and the new tariff law will
raise less than one-third of thai
sum, Recent estimates by tarif
experts in Congress predict that the
rates will raise S249,00O,000 q
year; and that the income tax will
raise $122,O00, 900. The remain
der of the governments great in.
come is made up principally of in.
Iternal revenue taxes and postal re-
ceipts.
The income tax probably will
bring the new tariff law most forci
bly, to the attention of the citizens
President Wilson and democratic
leaders in Congress believe however
that the reduction of duties OF
clothing, food-stuffs and other nee
essaries of life, and the complete
removal of the duty from man!
like articles, will eventually brint
a reduction in the 'cost of living
without materially affecting bust
ness prosperity.
A brief summary of the new tar
iff law follows:
Average percentage of tariff rates
as compared to the value of all i'm
ported merchandise: old law 81 PEI
cent; new law 27. per cent.
Value of annual imports addet
to the free list, $147,000, 200.
Estimated revenue from all i'm
port rates: old law, 1906, 900. 900
new law, 100000.
ESTIMATED revenue from corpor
alton and income taxes: old law
$37,0OO,OOO, new law, 100000,
900.
Altogether consumers in thu
United States probably will receiv
from abroad free of all tariff
more than $1,000, ,0O0,OO worth o
merchandise during the next year
During 1912 the amount OF free
imports" was more than $8S0,000,
900, and when the tariff is entirel.
removed from wool, sugar, iron or
and cheap iron, and other import
ant items, the total is expected t
increase notably. Under the oil
law more than So per cent of al
goods brought to the United State
from all parts of the world paid NJ
tariff, and that proportion will b'
increased by the new law.
The free wool provision of the nev
law takes effect December /, 1913
the free sugar provision May l
1916.
The new tariff law, passed foul
wears after President Taft signe'
the existing Payne-Aldrich law, Il
the result of more than nine
months of work in Congress. Hear
ings were started January 9Th, b.
the house ways and means commit
tee. Chairman Underwood intro
duced the tariff bill April Z, imn'e
diately after President Wilson ha'
convened the new Congress J
passed the house May Stl; ant tn
senate September 9th.
In the opinion of Its makers tn