Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1913-04-08

dr0Bo goods ..oS.lV oo'Oo
Sewing silk -. ........25.00 1900
Wrapping paper ...... $500 $500
Books 80. -. ........ 2b.OO lo.OO
Brooms -. ...........40.0 1900
Matches -. -. .......27.b9 400
Harness, saddlery. other
than leather 80. -. 1880 1000
India rubber, manufac-
lures Of -. -. ......36.00 1000
Lead pencils -. -. $500 $500
Pocket knives are reduced from
77.6S to $500 and $500; razors from
1886 to $500 and $500.
viii Cut Revenue $50, 900 900.
The new rates are estimated to re-
duce the customs revenue approx
matelya $50, 100000 a year. This Is ex-
pected 10 be made up by the income
tax. Protection to the farmer would
be cut throughout by more than fifty
per cent in an effort to reduce the
cost Of food.
Protection to the steel and imple-
ment manufacturer would be cut by
fully az wide a margin. The free
wool proposal, backed by President
Wilson and accepted by the house
committee, Is expected to provoke .
severe fight within the democratic
ranks Of both houses. 1t had not be
como clear today whether the demo
cratic opponents Of free wool and free
sugar in the senate would be able to
force q compromise on one or both
these provisions.
The decision to make q gradual re-
duction In the sugar tariff was reach
ed by the president and the house
committee after Louisiana cane
growers declined to accept COM
promise that would have established
one per cont pound tariff for three
years, with free sugar in 1916.
Exerpts Sums Below $4,000.
The income tax, which will trans
fer indirect taxes levied through the
tariff into a direct tax upon the in
comes OF individual citizens and cor
porations, exempts all sums below
$4,000. =
Incomes in excess of that amount
will pay one per cent tax up to $780,
900; two per cent from $4,000 to
$50. 900: three per cent from $4,000
to 100000, and four per cent above
that figure
The present corporation tax, levy
Ing one per cent on corporation IN
comes above $4,000, would be retain
ed a. part Of the income tax.
To encourage trade with foreign
countries, the bill would reverse the
maximum and minimum provisions
OF the present law. The new tarln
rates would be the maximum tarin
and the president would be given
authority to negotiate reciprocity
treaties and make concessions to
countries that grant favor to Ameri-
can exports.
strikes At High Cost Of Living.
In a statement accompanying the
bill, Chairman Underwood said the
measure, in the opinion of its max
ers. would revise the tariff ITO q basis
Of legitimate competition, such as
viii afford a wholesale influence on
our commerce, bring relief to the
people in the matter of the nign
cost Of living and at the same time
work no detriment to properly con-
Quoted manufacturing industries"
Tn It's tariff revision work the COM
mittee has kept in mind" he said,
''the distinction between the neces-
stiles and the Injuries of life, reduc-
ing the tariff burdens on the necessi-
ties to the lowest points commens'l-
rate with revenue requirements, and
making the luxuries of life bear their
proportion Of the tariff responsible
ties. Many items Of manufactures
controlled by monopolies have been
placed on the free list"
Attacks Chemical Schedule.
Chairman Underwood's statement
giving the changes in detail, con.
tinues as follows:
I'm the chemical schedule the
rates on certain commodities show
heavy reductions. For instance, Dor.
acic acid is cut from 1870 per cent to
21.43 per cent; glue from 1906 per
cent to 1929 per cent, and red lead
from 60.35 per cent to % per cent
Moderate reductions have been made
on medical preparations which are
cut from rs per cent to Is per cent;
blacking from rs per cent to Is per
cent; drugs from 1855 per cent to
10 per cent; olive oil from 1918 to
21,05 per cent. The schedule contains q
number OF articles on either Of which
no reduction has been made or an
advance provided for.
rates on all brick have been Gu:
on the average from 1929 per cent to
1928 per cent; tile from 1874 per
cent to 1886 per cent: asphalt from
3Y.05 to 9.62 per cent Ordinary earth
snwars. which already was relatively