Cresco plain dealer. (Cresco, Howard County, Iowa) 1913-1945, 1913-04-11
RAISES TARIFF
UPON LUxUR|ES
New Bill Places MANY Kecessi-
ties on Free List.
Taxes INCOMES ABOVE $4,000

Meats, Flour, Bread, Boots and Shoes,
Lumber, Potatoes, Iron Ore, Agri-
cultural implements, Leather, Wood
Pulp, Printing Paper, Typewriters,
Sewing Machines and Many Other
Items Will Be Admitted Without
Duty.
Washington, April s.-Removal Of
al tariff FROM many articles Of food
and clothing, broad reductions in the
rates of duty on all necessaries Of
life, an increase of tariff on many
lIuxuries and a new income tax that
American citizen whose net income
exceeds $4,000, are the striking fea.
lures of the new Democratic tariff re.
vision bill >,
Sugar would be free of duty in 1916.
the bill proposing an immediate Is
per cent reduction and the removal OF
the remaining duty in 1916.
While wheat -four is put on the free
list duty of 10 per cent is imposed
against countries which levy duty
on American -four This will exclude
flour from Canada and many other
countries.
Raw wool would be made free at
once, with a correspondingly heavy
reduction in the tariff on all WOODEN
goods. All the following articles are
put on the free list:
Meats, flour, bread, boots and shoes,
lumber, coal, harness, saddlery, iron
ore, milk and cream, potatoes, salt,
swine, corn, cornmeal, cotton bagging,
agricultural implements, leather, wood
pulp, Bibles, printing paper not worth
more than 21a cents pound, type
writer's, sewing machines, type-setting
machines, cash registers, steel rails,
fence wire, cotton ties, nails, hoop and
band iron, fish, sulphur, soda, tanning
materials, acetic and sulphuric acids,
borax, lumber products including
broom handles, clapboards, hubs for
wheels, posts, laths, pickets, slaves,
shingles. -..
These principal items are taken from
the free list and taxed: "
Rough and uncut diamonds and
precious stones, furs, coal tar products,
10 per cent; volatile oils, 20 per cent;
spices, from l cent to cents pound.
Greatly Reduces Revenue.
~
duce customs revenue approximately
$SO,000,00O a year. This is expected
to be made up by the income tax.
Endorsed by President Wilson the
measure represents the efforts of the
president and the house tariff makers
to carry into effect Democratic pledges
of downward revision and of conces.
sions to the American consumer.
Protection to the farmer would be
cut throughout by more than SO per
cent in an effort to reduce the cost
of food.
Protection to the steel and imple-
ment manufacturers would, in turn,
be cut by fully as wide margin;
Heaviest reductions fall upon food
stuffs, agricultural products, wooden
and cotton clothing.
The free wool proposal, backed by
President Wilson and accepted by the
house committee, is expected to pro-
woke a severe fight within the Demo
cratic ranks of both houses. 1t has
not become clear whether the Demo
cratic opponents of free wool and free
sugar in the senate would be able to
force compromise on enc or both
those provisions.
The decision to make a gradual re-
duction in the sugar tariff was reached
by the president and the house COM
mittee after Louisiana cane growers
declined to accept compromise that
would have established a 1-cent a
pound tariff for three years, with free
sugar in 1916.
The income tax, which will transfer
indirect taxes levied through the tariff
into direct tax upon the incomes Of |
individual citizens and corporations,
exempts all sums below $4,000.
Incomes in excess of that amount |
will pay l per cent tax up to $4,000; !
2 per cent from $4,000 to $4,000;
per cent from $4,000 to 100000 and
4 per cent above that figure.
The present corporation tax, levy
ing l per cent on corporation in
comes above $5,000.000, would be re.
tanned as part of the income tax
To encourage trade with foreign |
countries the bill would reverse the
maximum and minimum provision OF
The present tariff law. The new tariff
rates would be the maximum tariff,
and the president would be given au-
thority to negotiate reciprocity
treaties ara make concessions to
that grant favors to Amer
loan oxnortS b. r..