New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-06-30
SI|CAR TARIFF DATE
CHANGED BY COMMITTEE
New Senate Plan Would Have
Il Take Effect on March
!, 1914.
SHIFT ON INCOME TAX
March /, 1918, Agreed Upon
as Time When 1t Is to Be-
come DISQUALIFICATION
Futures Tax Adopted.

come DISQUALIFICATION
Futures Tax Adopted.
WASHINGTON. June 2@.-Postponement Of
the date on which the new sugar tariff
hall 30 into effect until March T. l9lh
and change OF date when the income
tax shall bc operative from January !,
rp3 TO March I. 1918, were agreed upon
hv majority members of the Senate
Finance committee to-day
In advancing the date when the pro-
rosed rate Of a cent a pound on sugar
shall be applied the committee did not
amend the schedule TO affect the pro-
vision that sugar shall go on the free list
MAY 1915 That provision remains AS
il vas originally in the bill which passed
the House and which tho Senate Demo-
cratic caucus approved last week.
The committee also adopted an amend
ment which would put p stamp tax on
al cotton sold for future delivery: de-
,lined 10 reconsider its action in repeal
INK the act Of $50 which released sweet
vine manufacturers from payment Or the
fun internal revenue duty ON brandies
used In certifying wines. and adjusted
several rates ON articles referred hack ny
the Democratic caucus.
Extension Of lime on the sugar schod-
ule Chairman Simmons announced. was
agreed 10 in order that sugars purchase
under the Payne-Aldrch rates could nc
DISPOSED Of without tho handicap Of the
effect of reduced tariff rates. The date
UPON which tho income tax can he COM
ru,ed for tho first year was changed t.
March /. for the reason that tho date ~
the bill. January 8. 1915 would make IN
section unconstitutional inasmuch IS tne
income tax amendment to the Co0sttu-
ton vas not ratified by tvo-thirds of tho
states and proclaimed by the secretary Of
State until February .. 1913.
nooif the Clarke plan.
The amendment 10 tax cotton futures
was introduced by Senator Clarke. ~
Arkansas. hut the provision as agreed 30
BY the committee modified the provisions
O. the original amendment somewhat 10
provides that sales or agreements 10 sell
cotton for future deliver. i'm conformity
10 the rules of cotton exchanges. boards
Of trade or similar associations. shall -
subject n 4 tax Of one-tonth of on"
cent P pound, the tax TO bo refunded IN
an cases II thS cotton actually is do
nvered
The amendment is designed to prevent
gambling IN cotton futures Tho tax
would De paid by affiNing stamps 10 the
written contract. add the amendment
pro, des the necessary machinery Tor It's
enforcement.
Protests from California wine pro-
ducers against me committee amend
ment to the liquor schedule calculated
n bring in $1,000. 900 ~ annual revenue
did not move the committee. except 20
grant an amendment making the
provision effective on January 1. 1914.
instead of Immediately after tho pas
sage NJ the act Under this provision
the fun revenue tax Of ; 10 gallon
will Nc demanded on al branches used
IN fcrufyinr sweet vines Since IS9o a
tax cf only three cents gallon on such
'randles has hcen required.
IN revising rates referred 70 II by the
caucus the committee voted to put anti
monv ore. IN the free list and reduced
from the basket clause Of tho metal
schedule. which carried a duty Of - per
cent I'd valorcm. lutte bags. used large
~ for wheat. were reduced from 10 to
IN per cent. machine made files from -
70 2o per cent, and wood screws made Of
,tssl we're made uniformly dutiable at
% per cent the senate bill having di-
vidsd them into classes ranging from
10 IS per cent.
Committee TO Hear McAdoo.
Late tonight the majority members -
the Finance Committee decided to era NJ
hearing early this week to Secretary
McAdoo Of the Treasury Department on
the amendment. turned down by the com
mittee previously. to give the Secretary
the right TO proclaim general important
Valuations for the purpose Of Steadyirg
tho revenue on an ad yaiorem basis The
rate would be fixed irrespective OF foreign
market price
On matters referred back TO the com
mtee by the caucus the following
changes we're made: Lemons. readopted
rstes in the Underwood bill. ranging from
Is cents a package TO Y cent a pound,
according to size Of package; extracts NJ
meat. reduced from u 10 70 cents a pound;
fluids OF meat, reduced from to cents
pound. combed wool tops rovings, etc.
reduced from u per cent 10 per cent;
tops from Angora goat hair, from 10 20
per cent: press cloth OF camel's hair,
from - per cent 10 70 per cent.
General tariff revision more radical in
many Of it's features than that proposed
by the Underwood bill will he urged
upon the Senate late this week. when
Chairman simmons reports the new
draft Of what will hereafter be known as
the Underwood Simmons bill Heavy
reductions from the Underwood rates
upon many articles Of household and
Commercial necessity and general aver
are Of almost 9 per cent below that OF
the Underwood revision will be recon-
ended for the approval OF the Senate,
backed py the almost unanimous IN
co-sement Of the Democratic caucus.
APPEAL TO PRESIDENT