Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1921-05-31
TARIFF BILL To COST
j. s. S500,0O0,0OO

became effective Saturday, will mean
an additional burden on the Ameri-
can people of approximately $780,
100000 year, according to conserva-
tive semi-official estimates made
here
Joseph S. Mccoy, treasury depart
ment actuary, has estimated the ad-
ditional revenue that will accrue to
the government from the measure
will be $165,000,00O a year. Economic
experts, regardless of party affilia-
tions. usually admit that any tax or
tariff is usually multiplied three
fold before it reaches the ultimate
payer. the consumer.
As a result. eliminating other cir
cumstances that may affect the
markets. the bill should increase the
cost of living to every man, woman
and child in the country about SIS
year.
Under the old tariff law. despite
big imr CITATIONS the government re-
ceived less than 100000 from
duties on articles included in the
emergency tariff.
The main purpose of the bill is to
admittedly to boost the price of farm
products and it's sponsors would like
to see an increase at least three
times as much as the tax imposed.
They ciair.: that it is imperative to
pay the farmer a higher price for his
products.
If treasury estimates come to eX-
pectations. the tariff will fall heav-
! iAef II
! wheat and wheat flour. and sugar.
Mr.. McCoy's figures show that the
| wool tariffs should yield about $780,
100000 more than the present sche-
dulles. Multiplying this amount by
three, it means the cosumer must
pay $2.75 additional if he buys only
| one suit 2 year.
The sugar duties of lis cents a
pound will yield the government an
additional S40,000,000. Already in
the nations capital the price of
sugar has jumped / IL cents a
pound in chain stores. Last Satur-
day it was sold at six cents to the
consumer. Today the price was
Another $2o.Ooo,ooo is expected
from the duty of 35 cents bushel
on wheat. although the rate is SO
high that it may cause big de-
crease in importations. The balance
is divided between about rs other
items.
other articles affected by the tar
iff are:
Flax seed. corn or maize. beans.
peanuts, potatoes. onions. rice.
lemons, vegetable oils. cattle and
sheep, fresh and frozen beef. cotton
and it's manufactures, butter, cheese.
milk, apples. cherries. wrapper TO-
bacco and olives.
Republican members OF the mouse
ways and means committee, prepar-
ing a final draft of the general tariff
bill, were said tonight to be at odds
over four important schedules in the
new measure. What was described
as an open split has occurred in the
writing Of schedules for chemicals,
cotton, wool and silks,
Despite the lack of agreement on
these schedules, and the fact that
some others have passed only the
subcommittee stage, Chairman Ford
ney held to his prediction of June 10
as the date of introduction. Some
declared the house would not receive
the measure short of July z. The
chemical schedule, it was said, has
resulted in Il continuation OF the hght
originating in the senate against the
further use of restrictions, other
ton of dyestuffs. Mr.. Fordney is un-
derstood to have announced his Wig
orous opposition in the committee to
any plan savoring of an embargo,
although he was willing to allow the
application of high rates.
The chemical provisions, 1t was
understood, have been put at the bot
tom of the list of schedules awaiting
consideration. No indication was
given when they would be taken up
again and but few members were said
to feel that the mere passing over
of the provisions would eliminate the
sore spots already caused.
Caucus Wednesday
Neither the subcommittee nor the
full Republican membership has sue
ceeded in establishing basic rates on
the silk schedule, while sectional
views were said to have reflected in
the attempt to fix rates on cotton
and it's products. The New England
element in the committee was said
to be fighting against the rates on
cotton products, claiming they were
disproportionate to the rates on the
raw product.
Few members were willing to talk
of the wool schedule, but it was
learned that the division of wool
rates centered around the same prob
lem as those on cotton-disrarity be-
tween the rates on the raw and man
ufactured products.
Subcommittee drafts of the SEIZED
ules on earthenware, paper, sundries
and minerals are understood to have
been accepted by the majority mem
bers of the committee.
A formal call for caucus of house
Republicans next Wednesday, went
out during the day. The conference
will discuss and attempt to deter
mine a party policy On the resolution
of Representative Longworth, OF
Ohio, which would make tariff du-
ties carried by the. general bill eff
fective upon the date of introduction
in the house. Representative Young
of North Dakota, the only Republican
member of the ways and means com
mittee to oppose the plan, announced
today he would carry his fight against
it to the caucus, and declared he had
assurance of strong support.