Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1913-10-07
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THE NEW TARIFF LAW
Most Important Revision in Many
Years.

II
sons signing Of the Underwood-Sim-
mons bill brings into effect one of the
most far-reaching revisions of tarin
rates and revenue laws enacted for
many years.
A new income tax. applying directly
] to the incomes of citizens; the aboli-
ton of all tariff on scores Of items OF
immense Importance to American In
dustry and American consumers and
heavy reduction of tariff rates on most
Of the articles in general use in this
country are its chief features.
While certain portions Of the new
law do not take effect at once. most
Of its provisions and almost all the
direct tariff reductions do.
At every port collectors Of customs,
appraisers Of merchandise and hum
dreds Of other employees Of the treas
ury department will plunge at once
into the task of collecting the nations
revenue on a new basis and with hum
dreds of new classifications and new
provisions Of law to complicate their
activities.
The Federal government has been
spending nearly a billion dollars
year and the new tariff law VIII raise
less than one-third of that sum. Re-
cent estimates by tariff experts in
congress predict that the rates will
raise $24S,00O,0OO year, and that the
income tax will raise $100,000,000. The
remainder Of the governments great
income is made up principally Of in
ternal revenue taxes and postal re-
ceipts. IA
The income tax probably will bring
the new tariff law most forcibly to
the attention Of citizens. President
Wilson and Democratic leaders IN
congress believe, however, that the re-
duction Of duties on clothing, food
stuffs and other necessaries OF life,
and the complete removal Of the duty
from many like articles, will eventu-
ally bring reduction in the cost OF
living" without materially affecting
business prosperity.
A brief summary Of the new tariff
law as prepared for the senate fol-
lows:
Average percentage Of tariff rates as
compared to the value of all imported
merchandise: Old law 81 per cent;
new law 81 per cent.
Value Of annual imports added to
the free list, $147,000,00O.
Estimated revenue from all import
rates: Old law, sS05. 100000; new law,
s24S, 100000.
Estimated revenue from corporation
and income taxes: Old law. $S7,000,-
900; new law, s10o,o00,00o.
Altogether, consumers in the United
States probably will receive from
abroad free Of all tariff, more than ST.
O00, ,0O0, 900 worth Of merchandise dur
ing the next year. During 1912 the
amount of "free imports" was more
than $3.50, 1000, and when the tariff
is entirely removed from wool, sugar,
iron ore and cheap iron and other i'm
portant items, the total is expected to
Increase notably. Under. the old law
more than So per cent Of all goods
brought to the United States from all
parts Of the world paid no tariff and
that proportion will be increased by
the new law.
The free wool provision Of the new
law takes effect December 1. 1918; the
free sugar provision May 1, 1916.
The new tariff law, passed four
years after President Taft signed the
existing Aldrich- Payne law, is the re-
suit Of more than niEe months OF
work in congress. Hearings were
started January by the house ways
and means committee. Chairman Un-
derwood introduced the tariff bill April
Z, Immediately after President Wilson
had convened the new congress. 1t
passed the house May and the senate
September 8.
In the opinion Of It's makers, the
Democratic leaders Of congress, the
most important features Of the new
tariff are:
A reduction Of nearly one-half in
the average tariff on foodstuffs and
farm products.
The placing Of raw wool on the free
list and a reduction Of nearly two
thirds in the tariff on woolen clothing,
especially Of the cheaper grades.
A reduction Of one-third (average)
on cotton goods.
Reduction Of the sugar tariff and its
ultimate abolishment in 1915.
A reduction Of one-third (average)
in the tariff on earthenware and glass
ware.
Adjustment Of all tariff on meats,
fish, dairy products, -four, potatoes.
coal, iron ore. lumber and many
classes Of farm and office machinery.
General tariff reduction on all i'm
portant articles in general use.
Throughout the long fight over the
bill the Republican attacks on the mea-
| sures has been directed against those
rates which the Republicans declared
| were 80 low as to threaten destruction
to American industries, through the
competition Of foreign manufactur-
ers. The Democratic supporters Of the
new law have insisted that except in
those cases where public welfare de-
manded radical changes. the tariff has
been reduced only to point where it
will stimulate competition" without
turning American markets over to
foreigners.
A great amount Of work will fall
upon the treasury departments, it is
expected, in working out the details
Of the new income tax and the meth
DDS Of collecting the direct taxes from
individual citizens Of the United
States. The tax upon corporations,
now fixed at per cent of their income
remains the same and becomes part Of
the general income tax law A staff
Of special deputies, collectors and agen-
cies will be employed to organize and
conduct the work Of income tax COL
l