Show NEW TARIFF LAW WILL MAKE ONY MANY RATE reductions REDUCTION ais synopsis of measure on which special session of congress has been working MARKED CHANGES IN THE AVERAGE DUTIES democrats confident that the country will be benefited by the alterations and that business will remain unaffected ad valorem valoree rate in the bill la Is from 27 to 29 per cent in payne aldrich bill they are arc per cent washington the democratic tariff revision bill first on the program of reforms mapped out when president wilson came into office advanced to its last congressional stage when it was brought back to the house from the joint conference committee with the unanimous indorsement endorsement Indor of the cume icen the measure roe asure of course has both its friends and enemies according to the administration it carries out four of the party promises tariff ro borm reduction in the high cost coat of living campaign against the trusts tu lu that duties have been taken off of many trust made article and the inoma income tax the measure consequently has a larger importance than that of a mere tariff reform bill and its effect must be widespread both on business and industry and also in connection with politics democratic leaders are confident that business will suffer buffer no untoward effect that consumers will be benefited beneO ted changes in the rates the bill imposes an average ad valorem valoree rate of from 27 to 29 per cent the average for the present aldrich law Is per cent tho the average ago tor for tho the wilson gorman act was per cent duties generally have been reduced in all of the articles that enter into lie necessaries of life including the products of the farm as well via as manu actu red products trust made products in many cases lave iava been transferred to the tree free list r tho the duties at present imposed have been substantially reduced the income tax lax feature of the blu bill Is expected to net some it vill call for a tax ori on net incomes of ini narried persons of and upwards V and on net incomes of married dersons living together where the ire fe or husband la is dependent ota mo and upwards experts estimates indicate a sur jus of over all expend tures at the end of the present fiscal ear A rate of 40 per cent 11 Is imposed lockings tm kings and halt half hose valued at not more than 70 cents a dozen pairs for stockings nga between 70 and a dozen pairs a duty of 40 per cent was agreed upon the conferees eliminated tho the provision inserted by the sonata senate denying entry into the american market of goods manufactured by children under 14 years of age the final agreement provided that any person employed to collect the income tax may be utilized by the secretary of the treasury in the general service of tho the internal revenue bureau re au larger customs revenues the customs revenues will be larger for the current year 1914 senator simmons said because thi the e rates of the payne aldrich aidrich law have been for the force quarter and will continue in force on wool and wool woolen goods until january 1 and on sugar until march 1 when the next fiscal year begins july 1 1914 all the tha rates of the now new law will be in operation and the tariff duties collected will be ba smaller the income tax which to Is collected tor for the calendar year can be collected tor for only ton ten months of the present year as the law specified that collection tl n shall not go back of march 1 1913 the estimated decrease in the total expenditures of the government for 1914 ta Is based on the fact that smaller expenditures aro are expected for the army and navy estimated the balance of the total estimates as given in the treasury estimates Is made up of postal receipts internal revenue receipts the profits from public land sales and other sources of 0 federal income agricultural products and provisions cattle sheep and other domestic animals suitable for use as food wheat and wheat products and eggs have been transferred to tho the tree free list hat re he duct lons have been made on oats butter beets frozen eggs peas greenhouse stock zante currants chocolate and cocoa sweetened and extracts of meats from the rates provided by the house the rates have been increased over those provided by the house on broken rice fish packed in oil and ground spices A rate of 20 per cent ad valorem valoree Is placed on ground spices in addition to the specific rate provided by the house on the senate receded from the reduced rate placed on flaxseed and its amendment placing a duty on bananas the house classification on lemons and other citrus fruits Is accepted papers and books the house rates have been reduced on common paper box boards papers partly covered with metal leaf or gelatine gelat lne and plain basic papers for albumen izing for photographic printing the rates provided bythe by the house bouse tor for surface coated papers suitable for covering boxa has been increased from 35 to 40 per cent the tha senate amendments placing specific rates graduated according to thice thickness ness and size have been agreed to with several reductions in the rates provided the rates agreed to are approximately equivalent to the ad valorem valoree rates provided in the house bill A rate has been placed on lithographic views of scenes and buildings located in tho the united states instead of the tha adva lorem rato rate provided by the house this amendment results in an increase in the rate of duty cotton manufactures the senate classification ot of cotton cloth according to the average num ber of the yarns contained therein was accepted instead of the house provision for the highest number this slightly decrease decreases de creasea the rate of some fancy weaves and novelty clothe cloth but on the greater bulk of cotton cloth the rate to Is not affected the rates on bleached and dyed colored yarns are Inc increased reaped and on cotton yarns and cloth made of yarn from numbers 79 to 99 the rates on handkerchiefs or mufflers not hemmed have been deduced from 30 per cent as provided by the house to 25 26 per cent |