Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-04-13
C. D. P. TAR|FE>B|LL !.
WOULD PRODUCE
LARGE AMOUNT
Foreign Valuation System Is
Used Estimated Revenue
s35o,ooo,ooo Compari-
son With PreSent Law

a.
WASHINGTON, April 12.-(By ths
Associated Press. 1.-The administra-
ton tariff bill as rewritten by SEN
ate finance committee Republicans
on the basis for foreign valuation
with provisions for flexible rates
and proclaimed American valuation
as recommended by President Har-
ding, was presented Tuesday to the
senate. 1t was announced that It
would be taken up April 81. A long
fight is in prospect with some esti-
mates that it might continue for
three months.
Taken as a whole the bill, accord
ing to estimates of committee ex.
perts, averages slightly higher than
the Payne-Aldrich law, the last RE-
publican protective tariff act, Ab
compared with the house measure,
the specific rates generally are
higher, but the ad valorem rates
generally are lower as such rates in
the house bill were based on Amer
lean valuation.
Treasury experts have estimated
roughly that the bill will raise from
$500 900, 900 to $3.50, 900, 900 of reye-
nue. annually, but they have not yet
had time to complete accurate cak
culations. The house measure was
estimated to raise $500, 100000, while
the Underwood law yielded between
$780, 900 and 100000.
There is a division of opinion
among the trainers as to the prob
able effect the measure would have
on the cost of living. In the Official
report accompanying the bill it il
stated that the committee majority
had "endeavored to recommend rates
that will afford protection to Amer
lean industry and permit them to
pay wages sufficient to enable our
workmen to maintain an American
standard of 1iving.'
Agricultural Rates
With regard to the. agricultural
schedule, one Of the longest in the
bill, the report said the COMMITTEES
adopted the policy of giving to az
ricultGre' the measure of protection
that has been accorded to other in
dustries, with due consideration to
AIe Of oil Of all
industries" The rates in this sched-
ule generally average higher than
those in the house bill and includes
a larger number of items which
were on the free list in the Under
wood bill, but placed on the dutiable
list in the emergency tariff act now
in force. 5.<8
AS a general rule, the rates writ
ten into the agriculture schedule are
at about the level demanded by the
senate Republican farm tariff bloc,
Committee experts stated, however,
that with few exceptions, the rates
in the agricultural schedule would
not exceed % per cent. This sched-
ule embraces meats, eggs, vegetables
generally, fruit and practically all
other products of the farm. The
duty on wheat was fixed at 35 cents
bushel, the same as Under the
emergency act, bur five cents above
the figure fixed in the house bill.
Under the Democratic tariff act
wheat was free.
Cattle hid@s We're taken from the
free list forAthe first time in many
years and a duty of two cents on
green and four cents on dried pro-
posed. The rates on shoes were fix
ed at from six cents pair to IL,
cents a pair and five per cent aid
| Valorem. "a
| For the first time it is. proposed
that long staple cotton be placed on
| the dutiable list with the rate at z
cents a pound, as, compared to the
| Is cents asked for by the agricul-
turaltariff bloc. Short staple cot
ton is retained on the free list. The
rates on cotton manufacturers are
generally higher than those in the
Underwood law, while some are
above those in the Payne-Aldrich
act and others somewhat lower.
Rates on tobacco in the new bill
are much higher than those in the
| Fordney measure and the Payne
Aldrich and Underwood laws. The
| duty proposed on unstemmed wrap
per and filler is $2.35 a pound, COM
pared with $2.10 in the Fordney and
$1.85 in the Payne-Aldrich and I'm.
! derWood. On stemmed filler and
wrapper, the duty would be SO a
pound, while the Fordney rate was
$2.75 and the Payne-Aldrich and
Underwood, $3.50. The duty of 81
a pound and 25 per cent ad valorem
proposed on cigars and cigarettes is
the same as that in the Fordney,
Payne-Aldrich and Underwood.
Plans Are Changed
In the case Of metals, the commit
tee agreed on rates averaging along
with the Payne-Aldrich, but highe. I
than in the Underwood bill. The
Payne-Aldrich duty Of TAO of cent
per pound on steel rails was agreed
upon. Under the Underwood law
such rails are free. The 25 per
cent rate on automobiles, bodies and
parts, and motorcycles, compared
with the 45 per cent in the Payne
Aldrich law and the 20 per cent to
45 per cent in the Underwood act.
Under a last minute change made
in the, dye provision, the president
| could continue the present embargo
with licensing system for one
year beyond the period of one year
from the date of the signing of the
measure as originally provided Rates
on dyes were, fixed at z cents a
pound and so per cent ad valorem
! on unfinished components and
cents a pound and so per cent on
finished dyes. The dye interests had
asked for fiVe-year embargo, argu-
ing that this was necessary to pro-
tect the war time industry from Ger
| man COmDetition