The Bridgeport evening farmer., 1913-04-22
UNDER WOODS BILL IS READY
 FOR CONGRESS
Committee on Ways and Means Divid-
 ed by Parry Vote
Democrats Plan to Curtail USe- less Debate That Final Action
 May Be Soon

Washington, April 22.-with the entire Ways and Means committee in session today, for the first time, Chairman Underwood laid before it the new Democratic tariff revision bill.
 After receiving vigorous opposition by the six Republican members and Victor Murdock, the new progressive member of the committee. it was approved by the strict party vote of IA to7 and reported to the House to be called up, tomorrow, for general debate.
 Democrats of the House planned to caucus, tonight or early tomorrow, 70 pass on "a rule proposed to limit gen eral debate on the bill to eight Iegis- 1ative days and to curtai1 amendments when the bill is read section by sec, tion before being placed upon it's pass age.
 The report, submitted by Chairman Underwood, after outlining the oper- ations of the proposed income tax; said:
 The revenues from all income tax es readily respond to changes of rates and the latter can be raised or low cred within a few days time without business disturbances such as general tariff changes occasions. It is be- lieVed that budget, or other effective
 
 able closely to calculate and determine in advance forthcoming expenditures will soon be devised, in which event it should become easy to maintain al close balance between. expenditures and revenues such is practiced in m ost other civilized countries. With other sources of revenue revised to an honest and fixed basis, and the income tax permanent part of our revenue system and at all times affordding a substantial amount of revenue Con- gress could, and if neeessary should annually raise or lower the income tax rates in such a InannerSas would prevent either a deficit or a. surplus in the treasury. This com bined tax system would afford justice in taxa ton, hexibility and stability of rev enue, and rigid economy in expendi- tures."
 The Democrats, outlining their pol icy in the preparation of the bill, an- nounced an absolute disregard for the cost-of-production theory as reguIa- tory Of tariff rates, and declared that in the pending bill they had at tempted:
 t'To eliminate protection of profits and to cut off duties which enabled industrial managers to exact a bonus for which no equivalent is rendered.
 "To introduce in every line of in dustry a competitive tariff basis pro-
 
 portation to the end that no concern shall be able to feel that it has mon opoly of the home market gained otIn- CT than through the fact that it is able to furnish better goods at lower prices than others.''
 Which is the wiser course for our government, to take?" the report ask ed, the one that demands the pro lection of Profits, the continued policy of hot house growth of our indus tries-the stagnation of development that follows where competition ceases -or, on the other hand, the gradual and insistent reduction of our tariff laws to a basis where the American manufacturer must meet honest com petition, 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 devel- opment of his business to extend his trade in the markets of the world. In our Judgment the future growth of our great industries lies beyond the seas.''
 A detailed table was presented showing by schedules, the total rev. enue. secured under the Payne law for 1912 and the estimated revenue un- der the new bill for twelve month period. The table showed that in 1912, $750, ,915 worth of imports paid S304,597,035 in duties at an equivalent average ad va1orem rate of 4O.12 per cent. It estimated that un- der the new bill $1,00O,999, 1000 worth of imports would pay $246,701, ,O0O in duties a an average ad va1orem rate of 29.60 per cent. Thus the new bill would raise $37,S96,O0O less than the present law.
 The saving thus made in revenue collections" said the report" is only suggestive of the immensely greater saving secured to the public by the probable change in prices resulting from the removal of the excessive rates of the present.
 Ut is striking fact the report ] declared, that during the years sub sequent to the removal of the policy !! of high protection in 1897, there has been a radical transformation Of i American economic life in many direc- l tions and that in most cases a con ! nectiOn between rates of protection | and the deYelopement of unfair or ob- | jectionable conditions has been fully 1 established"
 mentioned the most striking eco through the tariff, and table was crease in wholesale prices of many articles in the period from 1897 to 1910. The table gave the percentage of in crease since 1897 to 1910 in farm pro- duets as 93.2 per cent; food 46.7 per cent; clothing 35.S per cent; metals and implements 4S.2; drugs and chem ica1s 23.9; house furnishing goods 24-2; miscellaneous 44.5. an average increase
 (CODfinueG on Pas TwO1