The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1913-04-18
COST IS HIT
NEW DEMOCRATIC TARIFF BILL
PLACES RAW WOOL ON FREE
LIST.
REVENUE is CUT 100000 900
Sugar Duty Is Heavily Reduced-Ah
Incomes from $4,000 UP Taxed
Underwood Says Revenue VIII AID
Legitimate Competition

Washington, d. c., April S.-Carry-
ing sweeping reductions in every
of the tariff law except to-
bacco and spirits, schedules OF the
Democratic tariff revision bill was In
troduced In the house b. Chairman
Underwood of the house ways N
means committee. 1t was automatic
ally referred to the committee, by
which it will be reported to the house
within several days. Several articles
of food and clothing classed as neces-
saries Of life are placed on h free
list or greatly reduced N duties. Ac-
companying the bill is an income TAX
on all Incomes Of $4,000 q year or
over
The bill will take effect the day
after the president signs 1t. Inc
main features of the bill are:
Sugar would be free Of duty in 1910,
the bill proposing an immediate 20
per cent. reduction n the remo'ai
of the remaining duty in 1916.
Raw wool would De made free at
once. with a corresponding heavy re-
duction in the tariff on all WOODEN
goods.
Placed on the Free List.
Z Other articles are put on the free
list as follows: Meats, flour, Dreao
boots and shoes, lumber, coal, mar
ness, saddlery, iron ore, milk anu
cream. potatoes, salt. swine, corn, corn
meal, cotton bagging, agricultural lIi'
elements, leather, wood pulp, blbles'
printing paper not worth more tnan
21k cents a pound, typewriters. sew
ing machines, t%ypesetting machines
cash registers, steel rails, fence wire
cotton ties. nails, hoop and band iron
fish. sulphur. soda, tanning materials
acetic and sulphuric acids, borax, lum'
her products. including broom handles
clapboards, hubs for wheels, posIs
laths. pickets, slaves, shingles.
These principal items are taKer
from the free list and taxed: kougf
and uncut diamonds and preclou:
stones, furs, coal tar products. ~ pc
cent: volatile oils, 20 per cent; spices
from l cen to 2 cents per pound.
Chairman's Comparative Table.
Chairman Underwood OF the way
and means committee, in his state
ment accompanying the new bill. CAV
a comparative table to show reoue
lions in tariff duties made upon neces
saries. In each item both the presen
tariff and the proposed tariff had bee
reduced to an ad yalorem basis.
The new rates are estimated to RI
duce the customs revenue approx
mately $780, 600, 600 a year This is e.
pected to be made up by h incom
tax.
Endorsed by President Wilson, tn
measure represents the efforts or ID
president and house tariff makers I
carry into effect Democratic pledge
of downward revision and OF conce
sions to the American consumer.
Protection to the farmer would
cut throughout by more than 90 p'
cent. In an effort to reduce the cost
food. Protection to the steel and II
plement manufacturer would in tul
be cut by fully as wide a margl
Heaviest reductions fall upon foo
g stuffs. agricultural products, woolt
( and cotton clothing.
Free Wool and Free Sugar.
[ The free wool proposal backed
President Wilson and accepted by q
house committee, is expected TO pI
woke a severe fight within the Dem
18Th H4,,oDc IN.
v not become clear whether the Dem
a cratic opponents of free wool and fr
sugar in the senate would be able
force a compromise on n or DO
2, these provisions.
The decision to make a gradual
duction in the sugar tariff was reach
by the president and the house CO
=. mittee after Louisiana cane grove
- declined a compromise that wo'
have established a one-cent per pou
tariff for three years, with free sus
"A In 1915.
Direct Tax on Incomes.
The income tax which will trans
indirect taxes levied through the I
:, if into a direct tax upon the incon
!. of individual citizens and corporate
exempts all sums below $4,000.
=. comes In excess Of that amount '
pay l per cent. tax up to s2O,OOO
=. Der cent. from $4,000 to $4,000
per cent. from $4,000 to $1,000
4 per cent. above that figure.
present corporation tax, levying l
cert. on corporation incomes alb
$4,000, would be retained as part
~ the income tax.
To encourage trade with fore
90 countries. the bill would reverse
" maximum and minimum provision
the present tariff law. The new
if rates would be the maximum ia
and the president would be given
ny :hority to negotiate reciprocity I