The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-06-04

FORMER ACTION
IS REVERSED TO
PLEASE WILSON
(Continped From first Page.l

tcontinped From First page.)
on penalty of exclusion of
their products. the trainers of tho hill
believed that deliberate UNDERWRITING
"ouio De at a minimum. Tho amend
nent proposed by Assistant Secretary
curtis or the Treasury Department,
ana Assistant Attorney General DanI
son to give the Secretary of the Treas
ury the right 10 proclaim valuations
markets, also was designed to prevent
on imports, Irrespective of foreisn
CONGRATULATIONS, rs well as to steady
uie revenues under an ad vnlorem sys-
TEN.
What Is Proposed.
IL is now proposed to give the Sec
rotary OF the Treasury the right to
proclaim values, and in tho event for
eign manufacturers protest against n
valuation, require them to submit their
DOCK showing cost of production and
foreign value of the goods In dispute.
This would remove tho objection to tho
inquisitorial clause by making II oper-
ntivc on appeal of the foreign manu-
iacturer. The other feature authoriz-
ing the Secretary OF the Treasury 10
nN general valuation would serve as
protection to the custom house
against fraud. Secretary McAdoo sun
mitted to Chairman Simmons to-day
his views on this general subject, and
the committee now has them under
advisement
The proposal to place. for the first
time in the country's history, a tariff
on raw or undressed furs has aroused
loud protest from furriers and tho suh-
committee, headed by Senator johnson
which has the sundries schedule under
consideration. is studying the situa-
ton The Underwood bill proposes a
rate oil 10 per cent on raw furs. One
brief, filed with the committee by Jo-
n NM
duty. no matter how small. OH raw
furs, would completely destroy an in
ternational trade which United States
fur merchants have built up. Fur
skins are free in all foreign countries
except Russia, which has very small
specific duty by weight.
The brief set forth that under the
most favorable circumstances the csti-
mated amount of revenue from such n
duty, which the Ways and Means Com
mittee put at Sl,40OoOO would fall
decidedly below one-half this amount.
ana insisted that the tariff would re-
suit in loss to American merchants
of $4,000 600 annually.
Mny Amend Dill.
1t was reported tonight that the
subcommittee considering the income
tax has about decided to amend the
Dill SO as to give genuine mutual life in
surance companies exemption The
measure. it was said, would not be fiat
ly amended to exempt mutual life In
surance companies from the tax but
provision would he made whereby
such companies. after tho tax has
been assessed, might have an oppor-
tunity to show that their business was
not conducted for profit. Upon the
companies would rest the burden OF the
proof as to whether they would be en-
titled to exemption.
automobiles costing not more than
$4,000, IL was learned tonight will be
slated for 30 per cent adj valorem tax
instead of 40 per cent, as I'm the Under
wood bill. This will be in the report
OF Senator stones subcommittee In
the meeting of the full committee an
other amendment will be adopted, to
further decrease the tax on automo-
hiles costing less than $1,000. All au-
tomobiles costing more than $4,000. the
subcommittee graded as luXuries. cars
worth $4,000 or less the subcommittee
classcd as necessities.