The daily sentinel., 1913-10-07

After being under consideration In
congress for nearly six months the
new tariff bill is law, and for the
first time in nearly quarter of cen
tury the country has n tariff law orig
mated by the Democratic party. The
bill will doubtless be known as tho
Underwood Simmons bill. taking the
title from Chairman Underwood OF the
ways and means committee OF the
house and Chairman Simmons Of the
finance committee Of the senate.
The sponsors for the bill say that II
will raise ample revenue. Chairman
Simmons has been advised that 1t will
yield surplus OF at least $16000.000
year above current expenses. II 1t
does not meet the expenses of running
the government the expenses will be
reduced.
One remarkable thing about the pres
ent tariff bill, precedent, In fact. Is
that the senate cut the average rate
of duty carried by the bill below that
fixed by the house. Heretofore In the
making Of n tariff bill the house has
ridsiiti tiiC idttSs Whiit lilt StGuit hhS
then taken up the bill and readjusted
the rates on II higher general average.
The house bill carried n general av-
erage rate slightly below 80 per cent
This the senate cut little over 4 per
cent. The conference committee has
raised the general average duty but
slightly. The average ad valorem duty
rar ri al hx, tta nd la
about 81 per cent The average under
the present law is about 35 per cent.
Many Changes Considered.
The conference committee had to
deal with 676 paragraphs on which
there were disagreements. Some Of
these involved only the change Of
word or n question of punctuation, but
majority OF them represented diff
ferences In rates and few were fun
damental
The house conferees also accepted
the senate amendment fixing dates
when the wool duties shall go Into ef.
feet, which was one of the final stun
bling blocks.
Raw wool will go on the free list on
Dec. /. and the reduced duties car.
ried by the present bill will become ef-
fectve on Jan. /. The house bill pro-
posed to make the wool duties effective
Immediately on the bill being signed
by the president. The final action was
an important concession to the manu-
facturers.
The senate won over the house also
on controverted paragraphs In the
schedule relating to cotton cloths and
yarns. By this agreement slightly
higher duties are given to certain
coarser grades OF cotton cloths and
farms by changing the classification.
Fur hats and frames, forms and 9TH
er parts for the manufacture Of such
hats received rate OF 40 per cent
This matter affects the hat industry In
Connecticut The house fixed the rate
ut 40 per cent the senate made II 45.
The silk schedule also was reopened,
and the rate on silk partially manufac-
tnred from cocoons or wastes. not fur
ther advanced in manufacture than
carded or combed silk. and silk noils,
was reduced from 80 to 20 cents per
pound.
The Metal Schedule.
Probably no single industry covered
by the tariff bill suffered such reduc-
tions in duties as did the iron and steel
industry. The house cut duties un-
spnrinsly. and then the senate follow
ed by making still further reductions
and increasing the free list. &
The house. for example. placed a
duty OF 8 per cent on pig iron. spegel-
sen. scrap iron and scrap steel and
like products and made ferro-naganese
dutable at 10 per cent. The senate
free LISTED. both Of them. and the con-