Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-07-11
SENATE MAKES GREAT
CUTS IN SCHEDULESOF
HOUSE TARIFF MEASURE

WASHINGTON, July 1.-THE I'm
derwood- Simmons tariff bill which,
II Is expected, will be introduced in
the Senate to-day. is unique in the
history of American tariff making. in
that a Senate committee will recon-
mend even more drastic reductions
than the original bill contained when
adopted by the House.
The Senate's amended measure will
average about IA per cent under the
duties prescribed in the Underwood
bill The still further lowering Of
duties affects every schedule passed
by the House with the exception of
the cotton schedule, which was re-
vised in such manner that the du-
ties to be exacted from the importa-
tion of cotton and cotton manufac-
lures remain practically the same as
those specified in the bill when it was
started on its way to the Senate from
the House Democratic caucus
Democratic Senators, however
claim that they have not impaired
the revenue producing qualities of the
bill through reductions favoring the
consumer.
According to their figures this has
been obViated by an increase in the
internal revenue tax on brandies used
in fortifying wines from cents per
gallon to $1.10 per gallon, through a
tax on so-called spurious wines, fortf- |
fed with chemicals, and through the |
imposition of a tax of One-tenth of / |
cent a pound on cotton futures sold |
in trade and undelivered A tax of |
one-tenth of l cent per pound also |
was placed on bananas. solely for |
revenue producing purposes.
Estimates of the revenue to be de- |
rived from these sources is about |
SSOOO,000 in excess Of the S267. 900 600 |
revenue predicted for the Underwood |
bill. Revised estimates on corpora :
tlon tax and the income tax amend |
ment which was redrafted by the |
Senate, place the revenue from those |
sections Of the bill on about an equal |
footing with the House estimates.
The exact figures are as follows:
House Senate
Estimates Estimates.
Corporation tax.s 3OOOO,O0O S 81 900 600
income tax 900. 10000, 900 1926 900
Totals ........ 500 OO0. 900 St06 ,625 900
An amendment has been made to
the income tax as introduced on the
floor of the Senate by the Finance
Committee, which places the date
upon which this tax shall become
operative at March l, 1918, instead Of
January l, 1913.
Income Tax Suffers Cut.
This will cut the 1913 revenue from |
the income tax TO about SIS, 900 600
and slightly decrease the estimated
revenue for the current year and that |
calculated for the original House bill
This in part is cOunterbalanCed by
the extension of time granted the
wool and sugar schedules during
which the Payne Aldrich rates shall
remain operative.
The extension of time fer the
Payne -Aldrtch bill was the only
change made in these schedules. In
the sugar schedule the old tariff rates
are to be continued until March l,
1914, and in the wool schedule raw
wool is to become free on December
l, 1918, and the Underwood Simmons
rates on wool manufacturing are to
become operative on January /, 1914.
The sugar schedule retains May 1,
1916 as the date upon which sugar
shall be admitted free Of duty.
In the free list the principal adj
ditions were raw furs. works of art
gunpowder, AngOra goat hair and al
paCa, cattle, sheep and other domestic
live animals, wheat, steel ingots,
Photographic and moving picture
films, ferromanganese, flax, machinery |
used in making books for the blind
cement, text books used in the
schools, jute bagging, lizarin, cast
iron pipe and agricultural imple-
ments.
Autos RecIassified.
The chemical schedule was cut
from 10 to 3 per cent. The earthen-
ware and glassware schedule suffered
like reduction. In the metal sched-
ule a number of important changes
were made beside the free listing OF
iron and ore products. These in
cluded a decrease from II per cent
to 10 per cent in beams, from Is to
u per cent in steel plate and iron
forgings and from 10 to 6 per cent in
steel castings.
Automobiles were reclassified, those
valued up 10 81 900 being made du-
table at Is per. cent; those from
$1,000 to $1,000 at 80 per cent, and
automobiles over $500 in value at IS
per cent. Parts remain the same as
scheduled in the HOues bill.
In the wood schedule the principal
change was the free listing of cedar
logs.