The Barre daily times. (Barre, Vt.) 1897-1959, 1913-04-22
RECOMMEND RADICAL
CHANGE IN POLICY
Tariff Revision Bill Was
Presented in National
House To-day

entire ways ana means conlmltlse !
session to-day for the first time, Chair
man Underwood laid before it the ne'
Democratic tariff revision bill. After re
eeiving vigorous opposition by SIX he
publican members and Victor Murdoch
the new Progressive member, it was ap
proved by strict party vote and re
ported to the House to be ctlled up for
general debate tomorrow.
The Democrats recommend a radical re
adjustment of the entire fiscal policy o
the nation. They proposed to make al
income tax the means of accurately ad
justing the funds to be raised by taxa
tion to correspond with necessities TO
government expenditures.
The report, submitted by Chairman
Underwood, after outlining the opera
tions of the proposed income tax, said
THE revenues from all income taxes
readily respond to changes of rates and
the latter can be raised or lowered with
On a few days time without business
disturbances such as general tariff
changes occasion. II is believed that q
budget or other effective system by
which Congress may be able closely to
forthcoming expenditures viii soon be
devised, in which event it should become
easy to maintain a close balance be-
tween expenditures and revenues such
as is practised in most other civilized
countries.
With other sources Of revenue revised
to an honest and fxed basis, and the
income tax permanent part OF our
revenue system and at all times afford
ing substantial amount of revenue.
Congress could, and If necessary. should
annually raise or lower The income tax
rates in such manner as would prevent
either deficit or a surplus in the treas
ury. This combined tax system would
afford Justice in taxation, hexibility and
stability of revenue and rigid economy
in expenditures.
Eliminate Protection of Profits.
The Democrats. outlining their policy
in the preparation of the bill, announced
an absolute disregard for the costs of
production theory as regulatory Of tar
iff rates and declared that in the pend
ing bill they had attempted
ITO eliminate protection of profits
and to cut off duties which enabled in
dustrial managers to exact bonus for
which no equivalent is rendered.
ITO introd uce in every line of indus
try a competitive tariff basis providing
for a substantial amount of importa
tion to the end that no concern shall
be able to feel that it has monopoly
of the home market gained other than
through the fact that IL is able to fiIf
,snL L.4& IL ~ q I,.a,,
Others
(which is the wiser course for our
government to take" the report asked,
"the one that demands the protection
of profits, the continued policy OF hot
house growth Of our industries--the
stagnstion of development that follows
where competition ceases-or on the
other hand, the gradual and inslstent
reduction of our tariff laws to basis
where the American manufacturer must |
meet honest competition where he must |
develop his business along the best and |
most economical lines, where when he
fights at home to control his market. he |
is forging the way in the development |
Of his business to extend his trade in
the markets of the world In our iudg- |
ment the future growth of our great in
iustries lies beyond the seas"
Comparative Revenues Given.
A detailed table was presented SHOW
ng, by schedules, the total revenue Sc
cured under the Payne law for 1912,
and the estimated revenue under the
new bill for twelve month period.
The table showed that in 1912 $759,-
,09,9l5 worth of imports paid S304.
j97 ,035 in duties at an equivalent aver
,ge ad valorem rate of 1912 per cent.
L estimated that under the new bill
II 900 ,ae9.0 900 worth OF imports weuld
,ay 1896. .70l 900 In duties at an aver
Ige ad valorem rate of 29.00 per cent.
Would Raise ss7,s9o, 900 Less.
Thus the bill would raise S37 ,e96, coo
ess than the present law.
'The saving thus made in revenue eei-
eetions," said the report, SIS only sug
FESTIVE of the immensely greater saving
'ecured 20 the public by the probable
hange in prices resulting from the re-
noval of the excessive rates of the pres
mt law"
at is striking fact" the report de- I
lares, that during the years subse.
uent to the renewal of the policy OF
Ugh protection in 1897. there has been
radical Transformation Of American
conomic life in many directions and
hat in most cases a connection between
he rates OF protection and the develop
nsnt of unfair or objectionable condi-
ions has been fully established
Increased Cost of Living.
The increases cost Of living was men ! T
ioned as the most striking economic ]
hange adjustment through the tariff
nd a table was submitted showing the I
er centsge Of increase in wholesale J
riees of many articles in the period
rom 1907 TO 1910 in farm products a. '
30 per cent; food 4o.7 per cent; cloth v
u 35s: metals and implements 4s.2; r
rugs and chemicals 23.a; house furnish I
Il goods 24-2: miscellaneous AS, an
versge increase in such commodities Of
81 per cent.
In close conjunction with the high
sst of living. the report suggested the n
evelopment Of trusts and industrial ;
1mbinAtiOns during the sane period >