The Brunswick news., 1913-04-23
WAYS AND MEANS COMMITTEE
PRESENTS COMPLETE RE-
PORT OF MEASURE.
HIGH LIVING COST ASSNLED
Figures Arc Quoted AS An Example
10 Show How the Revenue Can Be
ARRANGED for the Necessary Ex-
pendltures.

the completed Democratic revision
bin. to the house today the Democrats
al the ways and means committee
: recommended a radical reimbursement
Of the entire fiscal policy of the ma
lion. They proposed TO make an in
come tax the means Of accurately
adjusting the funds to be raised by
taxation TO correspond with necessi-
ties for government expenditures,
With the entire ways and means
oammittee in session today for the
hrst time, Representative Underwood
laid before it the Democratic tariff
revision bill
After receiving vigorous opposition
81 the six Republican members ana
Victor Murdock, the new Progressive
member OF the committee, it was ap-
.6oved by the strict party vote Of
~ 10 7. and reported TO the house,
to be called Atomorrow for general
debate.
Democrats Of the house planned to
caucus tonight or early tomorrow to
pass on rule proposed to limit gen
eral debate on the bill to eight leg
islative days, and to curtail amend
ments when the bill will be read sec
aon by section before being placed
upon its passage.
The report submitted by Chairman
Underwood, after outlining the oper-
ations of the proposed income tax,
said:
Income Tax Revenues.
The revenue from all income
taxes readily respond to changes of
rates and the latter can be raised or
lowered within few days time with
out business disturbances, such as
general tariff changes occasion. 1t
is believed that budget or other
effective system by which congress
may be able closely to calculate and
determine In advance forthcoming
expenditures will soon be devised. in
witch event it should become easy
to maintain close balance between
expenditures and revenues, such as
is practiced in most other civilized
countries. With other sources of rev.
enue revised 10 an honest and fixed
basis and the income tax a perma-
nent part OF our revenue system, and
at all times aifording a substantial
amount OF revenue, congress could
and If necessary should, annually
raise or lower the income tax rates
n such manner as would prevent
either a deficit or surplus in the
treasury. This combined tax system
would afford justice in taxation, flex-
ibility and stability in revenue and
rigid economy in expenditures.
A detailed table was prescribed
aowing by schedules the total reve-
nae secured under the Payne law for
1912, and the estimated revenue un-
der the new bill for a 12-month pc
ricd. The table showed that in 1912
s759,209,915 worth Of imports paid
1904 ,597 ,035 in duties, at an eqniva-
lent average ad valorem rate eg 4012
per cent. 1t is estimated that under
the new bill $1,000. $50 600 worth of
imports would ray 1856, 7e1, ,00o in du-
ties at an average ad valorem rate
Of 1850 per cent. Thus the new bill
would raise sS7, ,S96, 600 less than the
present law.
High Cost Of Living.
The Increased cost Of living was
mentioned as the most striking eco
nomic change needing adjustment
through the tariff, and a table was
submitted showing the percentage Of
increase in wholesale prices OF many
articles IN the period from 1897 to
The table gave the percentage
rease since 1897 to 1910 in farm
duets as sS.2 per cent: food 46.7;
Ching S5.s metals and implements
4 1ss and chemicals 239: house
hsng goods 24.2; miscellaneous
average increase in such COM
s Of 46.7 Der cent.
EstlmatedAAmounts.
estimated amount to be