Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1913-07-19
TARIFF is LOW ONE,
REPORT SHOWS NEW
(Continued From Page ~

sold through stock exchanges for
future delivery.
Reduction of the basic exemption
from income tax from $4,000 as in the
house bill to $4,000 for unmarried per.
sons and the consequent re-arrange-
ment 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 the
marriage an additional exemption OF
$1,000 to either the husband or wife
where they are living together, but
not to both. In case of minor child
or children. living with. and depend.
ant upon the parent. such parent 10
allowed an additional exemption Of
$500 for one minor child and up/ to
81 700 on account of more children,
providing both parents are taxable, In
which case no exemption is allowable.
While the amendment may make no
wide difference In the revenue derived
from the tax, It Is deemed equitable ~
recognizing the added obligations on
account Of the marriage and children
and salutary as emphasizing the family
as the unit In our social structure"
OF agricultural products. many Of
which were transferred to the free list
In addition to those put there by the
house, the committee has this to say:
Recognize Farmsrs.
"The house bill and amendments
made by the committee on finance
fully recognized the paramount inter
ests Of our agricultural population by
placing agricultural implements OF
every kind and escription-fence and
battling wire, cotton bagging and ties,
low priced blankets, boots and shoes,
cement. nails, lumber. coal. harness,
saddles, cotton gins. wagons, carts,
bagging for grain, wool 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 population will
share in the benefits brought about BY
the reduction OF the duties on sugar
and It's eventual elimination. The sub.
startial reductions made all along the
line on cotton and wooden goods, wear.
ing apparel OF every description, on
crockery. household furnishings and
utensils, hardware and similar prod.
ucts OF our factories, will remove q
considerable part of the burden OF
tariff taxation now borne By the farm
or as well as the dweller in the city
and the laborer in the factory, fields
and Mines
Free Wool and Sugar.
The sugar and wool schedules are
left unchanged as to free sugar and
free raw wool, but reductions by the
senate committee In wool tops and
yarns are explained. and sweeping re
auctions in the metal schedule are
treated in the report with considerable
comment.
Pig iron, ferromanganeze and othel
products were placed on the free lin
by the committee. Concerning thu
general revision, the senate COMMITTEES
says that following the leading, In tn
house. it has sought amendments.
proposes to further carry out and pei
i feet the theory Of establishing
revenue producing tariff upon tn
basis Of competitive rates, % Z jus
and fair Interpretation In the light o
existing conditions OF the latest author
itative utterances of the party II
rover upon that subject and now sub
raits the results Of It's labors with thu
confident belief that the enactmen
into law of. the, house bill as amended
will result in a more equitable distri
button OF the burdens and incidental
tenefits OF our system Of customs
taxation; that 1t will tend to disinteg
rate the monopolies built up under tn
present system; that It will enlarg'
opportunity through individual effort
reduce the cost Of living and reliev tn
people from the burdens OF the protec
tive systems, strikingly exernplihed II
1.-THE so-called PayneAldrich bill, whicl
this measure IL intended to super
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