Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-18
PLANS HIGH FOOD
IMPORT TARIFFS
House Committee Includes
Grain, Wool, Potatoes,
Beans and Meats.

In its first step toward enactment of
an emergency tariff. the House ways
and means committee today tentative
ly agreed to place high import duties
on wheat. corn. wool and wool cloth
ing. beans, potatoes. peanuts, onions.
sheep and cattle and mutton and lamb
meat.
This was the proposed emergency
tariff legislation agreed upon yester-
day at joint conference Of congress
sional leaders as a means of relieving
the farmers.
Act ~ Ban.
Minority members OF the committee
were understood to be virtually in
enough to act as a ban On imports oi
products.
I While chairmAh Ferdney Of ,tbs
wAye ana means committee reported
the agreement for a tarifx embargo 10
caucus Of republicans menbere of
the House last night. no action was
taken by the caucus to indicate what
opposition may develop when the
legislation is presented to the House.
senators at yesterdays conference
contended for. a fiat embargo measure.
while the House members insisted
upon tariff measure. urging that an
embargo was unwise in time of peace
The senators finally agreed to do All
they could to put high tariff bill
through as it might come from the
House.
Rates Up to House.
The subject of the rates to be em-
bodied in the tariff measure was not
directly discussed at the conferences.
Members of the House COMMITTEES were
informed that the rates would be left
entirely to them and that whatever
they were able TO have passed by the
House the Senate conferees would try
to keep intact. Explanation was
made that the reason the conference
attempted no decision on rates was
that such discussion might have
resulted in a breach and the destruc-
tion of the whole program.
Flotation of a bond issue into
which would be refunded practically
the entire bonded Indebtedness of the
American government was proposed
to the ways and means committee
yesterday by Jules W. Bache, a New
York banker. as means Of equaliz-
ing the burden Of taxation resulting
from the world war.
Would Run Fifty YearsL
Bonds of the new issue proposed
by Mr.. Bache would run for fifty
years. InSy WO110 pear scale OF
interest rates starting at per cent
for the first five years, 5;s per cent
the second Eve years. per cent tke
third period Of FIVE years, ana parma
nent rate of Az per cent per annum
thereafter until maturity. Mr.. Bache
declared that such an issue would
serve to bring liberty bonds back to
par, while at the same time permit
ting retirement OF per cent OF the
outstanding liberty bonds each year.
The New York banker also sub
mitted a revenue program which he
declared would easii, produce $3,5eo.-
0O0,000 annually. Included in it was
a sales tax Of per cent, which he
estimated would yield $4,000, ,00e. .00s
annually.
The ways and means committee or
dered favorably reported the bill of
Representative Edmonds. republican,
Pennsylvania. to suspend penalties to
be imposed by the internal revenue
bureau under the law for failure OF
firms or individuals to pay the final
installment of taxes which fell due
Wednesday.
The committee reduced the limit OF
the suspension from sixty days, as
proposed by Representative Edmonds.
to fifty days.