The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1913-04-25
LIVING COST IS HIT
NEW DEMOCRATIC TARIFF BILL
PLACES RAW WOOL ON FREE
LIST.
REVENUE is CUT o,0oo,o 900
Sugar Duty Is Heavily Reduced-AII
Incomes from $4,000 Up Taxed
Underwood Says Revenue Will Aid
Legitimate Competition

ing sweeping reductions in ever
schedule of the tariff law except tc
bacco and spirits, schedules of tn
Democratic tariff revision bill was In
troduced in the house by Chairman
Underwood Of the house ways an,
means committee. 1t was automatic
ally referred to the committee, b,
which it will be reported to the house
within several days. Several article.
of food and clothing classed as neces
saries OF life are placed on the free
list or greatly reduced in duties. Ac
companying the bill is an income tai
on all incomes Of $4,000 a year OF
over.
The bill will take effect the day
after the president signs 1t. The
main features OF the bill are:
Sugar would be free of duty in 1916,
the bill proposing an immediate IS
per cent. reduction and the removal
OF the remaining duty in 1916.
Raw wool would be made free al
once, with a corresponding heavy re-
duction in the tariff on all wooden
goods.
Placed on the Free List.
other articles are put on the free
list as follows: Meats, flour, bread,
boots and shoes. lumber. coal. har-
ness, saddlery, iron ore, milk and
cream, potatoes, salt, swine, corn, corn
meal, cotton bagging, agricultural i'm
plements. leather, wood pulp, bibles,
printing paper not worth more than
III cents a pound, typewriters, sew
ing machines, typesetting machines,
cash registers, steel rails, fence wire.
cotton ties, nails, hoop and band iron.
nsh, sulphur, soda, tanning materials,
acetic and sulphuric acids, borax, lum-
Der products, including broom handles,
c~lapboards, hubs for wheels, posts,
laths, pickets, slaves, shingles.
These principal items are taken
from the free list and taxed: Rough
and uncut diamonds and precious
stones. furs. coal tar products, 10 per
cent; volatile oils, 20 per cent; spices,
from l cent to 2 cents per pound.
Chairman's Comparative Table.
Chairman Underwood of the ways
and means committee, in his state
accompanying the new bill. gave
comparative table to show reduc-
In tariff duties made upon neces-
saries. In each item both the present
Tariff and the proposed tariff lad been
reduced to an adj valorem basis.
The new rates are estimated to re-
luce the customs revenue approx
nately $50, 600, 900 a year. This is ex-
oected to be made up by the income
Indorsed by President Wilson. the
represents the efforts CT the
and house tariff makers to
AIRY into effect Democratic pledges
II downward revision and of conces-
ions to the American consumer.
protection to the farmer would be
ut throughout by more than so per
ent. in an effort to reduce the cost of
Protection to the steel and i'm
lement manufacturer would in turn
e cut by fully az wide a margin.
heaviest reductions fall upon food
agricultural products, wooden
cotton clothing.
Free Wool and Free Sugar.
The free wool proposal backed bv
resident Wilson and accepted by the
ouse committee, is expected to pro-
oke a severe fight within the Demo
attic ranks Of both houses. 1t had
Of become clear whether the Demo
attic opponents Of free wool and free T
lgar In the senate would be able to /
rec a compromise on one or both
,ese provisions.
The decision TO make a gradual re- |
teton in the sugar tariff was reached |
the president and the house COM |
lttee after Louisiana cane growers
a compromise that would
we established a one-cent Der pound
riff for three years, with free sugar
1916.
Direct Tax on Incomes.
The income tax which will transfer
direct taxes levied through the tar
Into a direct tax upon the incomes
individual citizens and corporations
empts all sums below $4,000. In
mes In excess of that amount will
Y 1 per cent. tax up to $40. 900, 2
r cent from $40, 900 to $4,000: )
cent. from $50, 900 to 500. 900. and
per cent. above hat figure. The
ssent corporation tax. levying l per
III. on corporation incomes above
600, would be retained as part of
income tax.
encourage trade with foreign
the bill would reverse the
ximum and minimum provision of
present tariff law. The new tar
rates would be the maximum tarif.
the president would be given au-
rity to negotiate reciprocity trea-
Il make concessions to countries