Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-07-12
SENATE MAKES GREAT
CUTS IN SCHEDULES Of
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 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
hill. 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 a manner that the du-
ties to be exacted from the importa-
ton 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
consumer.
According to their figures this has
been obviated by an increase in the
internal revenue tax on brandies used
in terrifying wines from cents per
gallon TO S1.10 per gallon, through a
tax on sO-called spurious wines, forti-
fled with chemicals, and through the
imposition of a tax of tenth of /
cent pound on cotton futures sold
I'm 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
$4,000, 900 in excess Of the $267, 0OO, 900
revenue predicted for the Underwood
bill. Revised estimates on corpora
ton 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 taxS 3OO00,OOO 81 0O0 900
Income tax ..... 7O.O00,00O $685. 900
Totals 500 900 900 stOe, 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 1, 1918, instead Of
January 1, 1913.
Income Tax Suffers Cut.
This will cut the 1913 revenue from
the income tax to about $5S,000,000
and slightly decrease the estimated
revenue for the current year and that
Lea e. I l.
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 for the
Payne- Aldrich 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
1, 1913, and the Underwood Simmons
rates on wool manufactures are to
become operative on January /, 1914.
The sugar schedule retains May l,
1915 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 ana 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
5 schools, jute bagging, lizarin, cast
iron pipe and agricultural imple-
ments.
Autos Reclassified.
The chemical schedule was cut
from 10 to per cent. The earthen-
ware and glassware schedule suffered
a 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 to 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 As
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
In the agricultural schedule horses
o,J ,,,,11ac ara tayad at 10 0pr cent