The Barre daily times. (Barre, Vt.) 1897-1959, 1913-07-18

ling or speculative end Of the business,
the revenue derived therefrom will be
| enormously in excess of this amount
Income Tax Basis $4,000.
Reduction of the basis exemption from
/ income tax from $4,000 as in the House
bill to $4,000 for unmarried persons and
the consequent rearraDgement of this,
the report comments upon as follows:
"Your committee reduces the amount
of exemption of net income to $4,000
and allows on account OF marriage an
additional exemption of 81 900, to either
husband or wife where they are living
together but not to both, In the case
of a minor child or children living with
and dependent upon the parent, such
parent is allowed an additional exemp-
| tion of $500 for one minor child and up
to 81 1000 on account of minor children,
except where both parents are taxable,
! in which case no exemption is allowable
on account OF children. BY the amend
ment the lowest possible exemption to
any one person would be $1,000 and the
| highest possible exemption to any one
person $1,000. While the amendment
may make no wide difference in the vol.
ume of revenue derivable from the tax,
| it is deemed equitable as recognizing
! the added obligations on account of mar
riage and children and salutary as en-
phasizing the family as the unit in our
social structure"
More Agricultural Products Free.
The changes in all the schedules are
dealt with at length in the report. OF
agricultural products many OF which
were transferred to the free list in addi
ton to those put thefe by the House,
the committee had this to say;
THE House bill and amendments made
by the committee on finance fully rec.
ognized the paramount interests of our
agricultural population by placing agri-
cultural implements of every kind and
description, fence and baling wire. cot
ton bagging and ties, low priced blank
cts. boots and shoes, cement, nails, lum-
Der. coal, harness. saddles, cotton gins,
wagons. carts, bagging for grain, woods
and other bags. sewing machines and
many other products Of daily utility
on the free list. In common with the
rest Of our people our agricultural popu
laton will share in the benefits brought
about by the reduction OF the duties on
sugar and its eventual elimination. The
substantial reductions made all along
the line on cotton and wooden goods,
wearing apparel Of every description, on
crockery household furnishing and uten-
sils, hardware and similar products of
our factories, will remove considerable.
part of the burden to tariff taxation now
borne by the farmer, as well as the
dweller in the city and the laborer in
the factory, fields and mines"
Sugar and Wool Unchanged
The sugar and wool schedules are left !
unchanged as to free sugar and free raw
wool, but reductions by the Senate com
mittee in wool tops and yarns are ex-
planned, and sweeping reductions in the
metal schedule are treated in the re
port with considerable comment. Pig
iron, ferromanganese and other products |
were placed on the free list BY tile com
mittee and the report says;
'SThe House bill places iron ore upon
the free list mainly because ii was found |
that the domestic supply of iron ore
was largely controlled hv the United !
States Steel corporation and for the (
purpose Of aiding the independent iron /
and steel manufacturers In their compe- 1
tition with this monopoly.
For similar reasons the committee on !
finance thought the ferromanganese
should also be placed upon the free list |
TIE United States Steel corporation !
largely controls the domestic ore out Of |
which ferromanganese, which is a nee /
eesary material in the manufacture OF |
steel, Is produced. This corporation is |
the only producer Of ferromanganese in
this country, but produces / only Tor its
own use and consumption 1t was /
thought under these conditions just that /
the independent competitors Of this mo
nopoly should be permitted to import /
this high priced alloy free Of duty ana |
that with iron ore and ferromanganese
on the free list. domestic competition
would be strengthened and the price Of
the finished products Of iron and steel
would be eventually lowered"
General Statement Given.
Concerning the general revision, the
Senate committee SAYS that following
the headings of the house 1T has sought |
in the amendments il proposes to the
House bill further to carry out and per.
lecI the LDeoFN OF establishing revenue
producing tariff upon the basis of COM
petitiye rates, as a just and fair in
in the light Of existing con
ditions of the latest Authoritative ut
terances of the party in. power upon
that subject. and now submits the re
suits in more equitable distribution
Of the burdens and incidental bene
fits of our system Of custom taxation;
that will tend to disintegrate the mo-
nopoles built up under the present sys
tenn; that it will enlarge opportunity
through individual effort, reduce the cost
Of living and relieve the people from
the burdens OF the protective system
exemplifed in the so-called
Payne Aldrich bill which this measure