Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1913-05-23
Although Committee on
Finance in the Senate Has
Many Protests and Sug-
gestions the Measure Will
Hardly Be Revised
INSURANCE MEN
LOUD PROTESTANTS
Railroad and Other Holding
Companies Also Contend
Bill VIII Tab Them Twice
on Dividends Paid, But
This is Denied
ASSOCIATED PRESS DIsPATcHl


WASHINGTON. D. c.. May 22.-No
amendment to the income tax Sec
tion of the Underwood tariff bill is
likely to be proposed by the senate
finance committee, or in caucus ac-
cording to an announcement by the
leaders who have under consideration
that part of the bill in hand
Although the committee room is
piled high with protests and sugges-
tions from many sources, the meas
ure is believed to have been we'll
handled and the objections made TO
it in its original form are thought
to have been sufficiently met by the
amendments before the bill issued
from the house. Among the loudest
protests coming now are those of mu-
tual insurance companies conducting
for profit, but the house amended the
original bill relating to insurance
companies and policies and the sena-
tors finance committee after a study
of the bill, believe it is sound. Com
plants from railroad and other hold
ing companies that the law Will tab
them twice on the dividends paid, it
is reported have been held unsound
by members of the committee.
Senator Penrose failed today to get
up a resolution providing for the
publication of tariff questions to
manufacturers proposed by Senator
La Toilette when the senate went into
executive session before the tariff
was reached. Early in the day the
finance committee of the majority
met, and framed an amendment TO
the resolution proposing long list
of questions in which some of La
Follette's queries are included. The
questions will relate TO production
of raw materials and transportation
of cost here and abroad, the proper
ton of tariff duties which cover the
cost differences here and abroad and
the proportion of amounts to the
manufacturers profit and other tariff
problems. Senator Simmons said there
would be about twenty-five questions
in all.
Vice President Marshall called on
the finance committee chairman today
and discussed with him the tariff and
its prospects in the senate. The vice
president said he did not discuss rates
or schedules.
The diffusion of the proposed tar
iff on raw ivory before the Johnson
sub committee disclosed an unusual
situation Representatives of cot
ton exporters in protesting against
the proposed twenty per cent on
tusks declared it would break up their
barter trade in cotton with foreign
tusk dealers. For years they have
been shipping thousands of dollars
worth of cotton to these African
traders, bringing back in payment
ivory tusks which they in turn sold
to piano manufacturers. 1t is claimed
with the duty on ivory the alien
cotton traders will get this business.
The senate agreed today to a re-
solution authorizing the banking and
currency committee to hold hearings
on the proposed currency legislation
after several publications had voiced
opposition to the passage at this ses-
sion of any measure making sweeping
changes in the nations financial sys-
tenn
Senator Bristow said the tariff
should have all the attention of con-
sress and several others indicated
plainly hostility to such legislation
at this time.
Senator Townsend made the point
that currency reform is being urged
at this time in order to divert atten-
ton from the tariff. Senator New
lands offered plan of reform Whlch
differs from the one proposed by the
national monetary commission ana
those bearing the apparent stamp OF
prominent democrats on the house
and senate banking committees.
Newlands advanced the idea that
there should be reserve associations
in every state instead of the fifteen
proposed in the monetary commission
report Associations, Newlands ar
gued should be statewide only in eN-
tent, with a banking board to pro-
vide central control
Senator Nelson, a member OF the
committee, said he is ready to go
ahead with the investigation of cur
rency subjects and with the legisla-
ton.
The president heard with interest
today that republican senators are
anxious to be consulted in prelim1n-
ary conferences looking toward cur
rency reform. 1t is regarded as sig
nificant that Secretary McAdoo OF
the treasury department has been
comforting with Senator'S Burton OF
Ohio and Weeks of Massachusetts
w