Western Carolina Democrat and French Broad hustler. [volume] (Hendersonville, N.C.) 1913-1915, 1913-06-19
REVISING TARIFF / 1
e.nate Finance Committee Agrees
Upon Certain Changes in the
nnderwood Bill.

in the Underwood tariff bill by
.bp Senate Finance sub1commit-
toes transferring proposed dutia-
tp articles to the free list, will ag-
cregate an estimated annual loss
p revenue to the government of
nearly a million and a half dollars.
This curtailment of revenue under
+he House is based only on articles
Known to have been transferred
n the fire list thus far upon sui
committee recommendations, AMI
does not take into account de-
creases in duties which will be
proposed on many articles. Added
to the $25, 100000 estimated loss
in revenue under the House bill
free hist, this would aggregate
$26,5OO,OOO.
The Senate List.
Included in the Senate list r
the revenues that would be deriv-
ed from the hemp which the I'm
derwood bill makes dutiable, but
which the Senate subcommittee
today decided should be trans
ferred to the free list. Hemp will
be sent to the caucus on free list
on the ground that it belongs there
il other products of the farms such
as cattle and wheat are to be free
listed, as it would result in cheap
e irvine to the farmers, and com
pensate them somewhat by reduc-
inc their. harvest expenditures.
Hemp, both plain and hacked, the
subcommittee proposes to remove
from the dutiable list, the former
from $11.2O a ton, and the latter
from one cent a pound in the I'm
derwood bill.
Some of this loss in revenue may
be made up by countervailing
duties on certain agricultural pro-
ducts but this amount, it is esti-
mated will not be large.
Free-Listed Articles.
Among the articles which the
Senate subcommittee have added
to the free list the estimated reve-
nues cut off are: Pig iron, $780,
900; ferro manganese and spiege-
Lessen, $126, 500; hemp, $78,4OO;
$583,000; wheat, $780,
600; Photographic films, $4,000;
cedar wood, $4,000; coal tar dyes
$50, 900, a total of $1,417,9O0.
Today the majority members Of
the Finance committee opposed
publication at this time of detail
ed changes an the Underwood bill
approved by them on sub-commit-
tee recommendations.
The Cotton Schedule.
The committee today had under
consideration the changes in the
schedule proposed by Sena-
tor Johnson's subcommittee. Most
Of them were approved, but one or
two matters were referred back
to the subcommittee for further
consideration. In this schedule
the net result of the altered rates
will increase the average cotton
late in the Underwood bill about
five per cent the principal changes
affecting cotton yarns. This is
probably the only schedule in
which Senate action will result in
an increase.
The majority members Of the
committee decided their action
should be guarded as much as pos
Sible until the caucus can have a
chance to act, because the caucus
might in some matters reverse or
otherwise alter their decisions.
The metal and earthenware
schedules were considered for a
time today but discussion on them
was continued until tomorrow.
Income Tax Feature.
Senator Williams sub-commit-
tee is still working on the income
tax and administrative provisions
OF the bill but expects to report to-
morrow. It has been decided to
eliminate the anti-dumping clause
and the 5 per cent tariff discount
on imports on American ships,
and some modification will be re-
ported of the provisions directing
foreign manufacturers to submit
their books when valuations are III
dispute. The income tax also will
be modified to give mutual life in
Surance an opportunity to claim
Exemption by proving they are not
conducted for profit.
Print Paper Provision.
With regard to print-paper, Sen
atOr JOhnson's subcommittee has
under consideration a plan to
RaVe paper valued at not more
ulan two and a half cents a pound
IN the free list, but, in lieu of a