Polk County news-gazette. (Benton, Tenn.) 190?-191?, 1913-10-09
SYNOPSIS or THE UNDERWOOD
SIMMONS BILL.
FREE WOOL ON DECEMBER I
Measure Expected TO Yield Surplus
.he First Year-Free List En-
Iaraed by the Senate.


before the House the report of the cen
ferees and announced that the differ
ences between the Senate and House
bills had been compromised.
Ii is the second low tariff measure
that has been passed in more than %
years.
The average ad valorem rate Of the
present bill is very much lower than
that of the Wilson-Gorman act. The
average rate of the latter was 39.45 per
cent, while the estimated rate OF the
present bill ranges from % to 20 per
cent. The average for the present
Payne-Aldrich law is 40.12 per cent.
Senator Simmons said, after report
from the Treasury experts, that for the
first full fiscal year the measure would
yield surplus of S1S,000,000.
Among the 675 amendments made in
the Senate, many related merely TO YER
biage. The House yielded on 427 and
the Senate abandoned Isl. CQmpro-
misses were effected on 81.
The general trend of the Senate
amendments was in the direction OF re-
duced duties. Expressed in percentage
the Senate bill when reported reduced
duties 27.64 below the existing law and
4.22 per cent. below the House bill as it
had come to the Senate.
The result of the conference report
has been a slight increase OF the ad
valorem rate of duty carried by the bill,
but the net result is below the average
adj valorem rate of the House bill. linus
for the first time in the history of tariff
legislation the Senate has gone on rec
ord in favor of lower duties in tariff
bill than those adopted by the House.
The most important features of the
new bill are those which led to the
greatest struggle in both the Senate and
House Democrats caucuses. They re-
lated to the free listing OF wool and
of sugar. Except for the strong an
sistence Of President Wilson it is likely
that the Senate would have restored a
revenue duty on both wool and sugar.
Z Raw wool will go on the free list De-
cember / and sugar will be free after
May !, 1916.
The existing duties on sugar under
the Payne Aldrich law will continue I'M
til March /, 1914, then the lower rates
carried by the new law will become eff
fective and continue until May !, 1916,
after which date sugar will go on the
free list automatically All other rates
in the bill will go into effect as soon as
it is signed.
In restoring to the free list ali4arin,
lead or creosote oil anthracine and an
fhracine oil, the Senate followed the
existing law, which gives to the manu-
facturers of certain textiles the DEMENT'S
of free dyes used in the industry he
House had made them dutiable tor
revenue purposes. The Senate made
them free on the theory that the textile
products had been made to pay less duty
and that the manufacturers should have
the raw material free.
The cyanides were transferred TO the
free list because they are used largely
in mining and are raw material for
other American industries. Both the
Senate and House agreed that tanning
materials such as extracts, should go
upon the free list because the products
OF the tanneries, sole~leather and other
feathers of the coarser kind that enter
into the manufacture OF boots and
shoes. harness and saddles were all free
listed
The Democrats PIT cements and other
building material, including lumber and
shingles upon the free list. Pig iron and
ferromanganese billets and ingots tor
railway wheels, together with antimony
ore. were put on the free list.
Automobiles will pay about 30 per
cent. which was reduction OF one
third from the House rate. Cattle,
sheep and all domestic animals suitable
for food and wheat, -four and eggs were
nut on the free list. This was to con-
form with the tariff policy OF reducing
the cost of living -,
The FIVE per cent rebate in tariff
made in the House bill on goods
brought in American ships was retained
in the conference, with the added pro-
visions that it would not BE 50 con-
strued as to abrogate or in any man
ner impair or affect the provisions OF
anv treaty the United States now has.
The administrative features as en-
bodied in the House bill emerged from
conference but little changed.
The conference adopted substitute
for the Senate amendment to check
fraudulent invoices This provides that
the arrival within the territorial limits
of the United States OF any merchan-
disc consigned for sale and remaining
the property of the shipper, and the &C
ceptance Of a fraudulent invoice by the
consignee or agent of the consignor shall
be deemed an attempt to enter such
merchandise whether or not actual en-
try is made or offered.
The Senate amendment requiring
,tatemeNts of cost on merchandise con-
tracted for, as we'll as on that actually
purchased. was stricken out.
The conference agreed to the Senate
amendment authorizing the Secretary
Of the Treasury and the Secretary. OF
Commerce to require importers to FUR
pish more detailed information on ship
ments for statistical purposes.
differentiation Penalty.
The Senate receded from the amend
ment allowing margin of 5 per cent
underyaluation without penalty and lin.
ting forfeiture of the particular goods
undervalued. The bill imposes an addi'
tional duty of / per cent. on under
valued goods.
Offsettting this, the conference
adopted the Senate amendment author.
;1;ng The Secretary Of the Treasury tc
assess asses the duty on less than the en-
tered value when satisfied that the i'm
oorter has in good faith at the time
~ the entry certified the entered value
-. Tho market value