The Calhoun chronicle. [volume] (Grantsville, W. Va.) 1883-1984, 1913-05-27
is WISE LEGISLATION
WORKING OF UNDERWOOD TAR
TIFF WILL BENEFIT COUNTRY.
American Manufacturers, Second to
None. Are Sure to Rise to the oc-
easion and Maintain the Ma
tion's Supremacy.

That the American manufacturer.
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
VIII 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
mas been presented to the house
they estimate that for the first fiscal
year following the passage of the bin
the receipts of the government will
DE less than the disbursements by
SbS,i9O.OOO. To meet this deficit the
income tax has been framed and il is
estimated the revenue from this tax
will be S70.125,0O0
According to the committees esti-
mates. the customs revenue from the
Underwood bill will be S37, 1896 900 less
imam the customs receipts from the
Payne law in 1912.
1t Ia estimated that the chemical
schedule Of the new bill will produce
S12,9S5,000 as against $I2,239,742 in
the Payne law, the earthenware SEIZED
ule, S9,497,00 as against $1I.156.221;
metal schedule, SIS. 549, 900 as against
$l1,346,221; wood schedule, $S9S. 900
as against $3,042,S sugar schedule,
S4O,l96,O00 as against $50, 1851 900: to-
bacco schedule, $26. 900 as against
$25,57l 900; agricultural schedule. $21,-
$4,000 as against S34, 900: spirits,
S2l,9S7,OOO as against SIT, 400 900; cot
Ton. Sll,257000 as against s11, OS5, 900:
lax, hemp and jute, $15,977, 900 as
against S49,062.O00; wool, SIP, 744, 900 as
against S27.O72,OOO; silk, $16.212. 900 as
against $13,695.OOO; pulp and paper.
$2'957OO0 as against $4,SS6 900; sun
dries. $59,952,000 as against $685.
931,O0
The average reductions in duties
from the present Payne law to the
Underwood bill by schedules are as
follows:
Chemicals from % to 10 per cent;
earthenware. so to SO; metals, "a to
20; wood, 10 to 3; sugar. 4S to IS;
agricultural, 20 to 16: spirits, S3.9 to
$3.50; cotton, 40 10 So flax. As to 20;
wool. 80 to IS; silks, 81 to A; pulp
and paper, 81 to IL. Increases: To-
bacco, 50 to So; sundries, "a to 49,
1t Is estimated the amount of duti-
able importations under the bill would
increase in value from $759,209,915 to
$19S,956,OO0. 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 $3.50 per
cent.
Under the income tax law it is esti-
mated that 425.000 incomes, including
corporations as well as individuals,
Will be taxable. The greatest amount
of revenue. according to the calcula-
tons. will be derived from incomes
within the range from $25, 900 to S1OO,.
600. Over 100 incomes taxable at /
per cent. as well as /, and per
cent. surfaces. are included in the
reckoning.
The income from the tax on these
immense incomes will bring in all
told, $5,826.000. The committee esti-
mates that 10000 incomes between
$4,000 and $4,000 will be subject to
the l per cent. tax, yielding $3.50. 900.
According to the estimates, however,
the greatest number of taxable in
comes will be in the range of IS, 900
to $4,000. These will yield to the
government, If the expectations OF the
committees calculators are borne out
by experience, $5,340 900.