The Liberal democrat. [volume] (Liberal, Kan.) 1911-1924, 1913-05-09
is WISE LEGISLATION
WORKING or UNDERWOOD TAR
lFF WILL BENEFIT COUNTRY.
American Manufacturers, Second to
None, Are Sure to Rise to the o.
caSlon and Maintain the Ma
tlon's Supremacy.


That the American manufactures,
spurred by a competitive tariff to
greater activity to retain control of
his home market, will increase his
efficiency to such an extent that he
will make new trade conQuests abroad.
is the prediction of the Democratic
members Of the house ways and
means committee who framed the I'm
derwood tariff bill.
The report signed by the fourteen
Democratic members of the committee
has been presented to the house.
They estimate that for the first fiscal
year following the passage of the bill
the receipts of the government will
be less than the disbursements by
$68,790,O00. To meet this deficit the
income tax has Leen framed and it is
estimated the revenue from this tax
will be $7O,125.OOO.
According to the committees esti-
mates, the customs revenue from the
Underwood bill will be $37, $4,000 less
than the customs receipts from the
Payne law in 1912.
1t is estimated that the chemical
schedule of the new bill will produce
S12,9S5,O0O as against $12,239,742 in
the Payne law, the earthenware SEIZED
ule, $9,497,OOO as against $11,156,221;
metal schedule, $15,549,OO0 as against
$17,946,221; wood schedule, $898,00O
as against $3,042,S34; sugar schedule,
SAC, 10000 as against S50,951, 900; to-
bacco schedule, $26,OO2,OOO as against
$25,571, 900; agricultural schedule, S21,-
$4,000 as against 1874 ,146,OOO; spirits,
$21,987, 900 as against ST., 100000; cot
ton, $11,257,000 as against 11,OS5,O 900;
flax, hemp and 1ute, $15,977,000 as
against $49,062,000; wool, $12, 900 as
against $27O72,OOO; silk, $16,212, 900 as
against $1S,695,OOO; pulp and paper,
$2,957,OOO as against $4,SS6,OOO; sun
dries, $59,952,OOO as against $780,
$4,000.
The average reductions in duties
from the present Payne law to the
Underwood bill by schedules are as
follows:
Chemicals from rs to 10 per cent;
earthenWare, 80 to S3; metals, "a to
20; wood, IL to g. sugar, 48 to 35;
agricultural, 20 to 16; spirits, S39 to
$3.50; cotton, As to 80; flax, As to 20;
wool, So to IS; silks, 81 to "A; pulp
and paper 81 to IL. Increases: To-
bacco, 50 to So; sundries, "a to SO.
1t Is estimated the amount of duti-
able importations under the bill would
increase in value from $759,2O9,915 to
$79S,956,00O. The average duty under
the Payne law is 40.12 per cent, as
against an estimated average duty I'M
der the Underwood bill of 1880 per
cent.
Under the income tax law 1t is esti-
mated that 425,O00 incomes, including
corporations as we'll as individuals,
will be taxable. The greatest amount
of revenue, according to the calcula-
tons, will be derived from incomes
within the range from $4,000 to $780,
900. Over 100 incomes taxable at l
per cent, as we'll as /, and per
cent. surfaces, are included in the
reckoning.
The income from the tax on these
immense incomes will bring in all
told, $5,826,OOO. The committee esti-
mates that 10000 incomes between
$4,000 and $4,000 will be subject to
the l per cent. tax. yielding $5SO.OOO.
According to the estimates, however,
the greatest number of taxable In
comes will be in the range OF $4,000
to $4,000, These will yield to the
government, If the expectations of the
committees calculators are borne out !
by experience, $5,340,000.