Show I DO ARB REVISION IS f NEW WT TARiff B PAYE Bill INTRODUCED Hides Are Placed on the Free tree List Duty on Wool Is Reduced Reduced Reduced Re Re- and the Tariff on Lead LeadIs Is Cut About One AN INHERITANCE TAX IS PROVIDED IN THE BILL National House Is Expected to Pass Measure in Three Weeks but Greatest Battle Is Likely to Come in Senate ENABLES BIG BOND ISSUE Washington March 17 The Payne P tariff bill the cardinal ardinal features of which includes an inheritance tax was vas introduced into the House of Representatives today and an referred to the th new v committee on ways and 1 means for consideration The 1 bill provides a general downward down 1 downward down down- ward revision of the Dingley I tariff schedule Iron ore I hides tallow cottonseed 4 oil I and coffee go on the free fre list I Duties on er fw k kiron ir iron and d maue st ste cl cler steel rails anc and tin plate re are reduced on a graduated scale amounting to nearly 50 per cent Duties on shoes are reduced 40 per cent and there is a heavy reduction on manufactured leathers Lumber Lumber Lumber Lum Lum- ber and timber duties are cut cutI I 50 per cent Reciprocal free trade with the Philippines is authorized permitting the free importation i of tons of sugar pounds of wrapper tobacco of filtered tobacco and cigars a year Coal coke an and agricultural as Implements Implements ments are admitted freo free from countries coun coun- tries having reciprocal agreements The duty dut on refined sugar is reduced live five one hundredths of one cent per pound Duties on wools of or the tho cheaper grades are aro reduced Duties on large sized plate plato glass arc are reduced but in increased Increased Increased In- In creased on the tho smaller sizes Duties on nails nalls wire hardware and tools aro are reduced Duties on v wines vines aro are In Increased Increased increased In- In creased 50 riO per cent but beers and antI whiskey are not touched Duty Imposed on Tea A duty of or 8 S cents a a. pound Is imposed im- im Imposed Imposed Im Im- posed on tea from countries where produced d' d and 4 I cents per pound when imported from other countries Cocoa Is tal taken cn from the free tree list and ma made mada e dutiable at 4 cents a pound Duties on prepared cocoa are arc increased ed ed 50 60 per lIeI cent Duties on women's accessories accessories accessories such as ns perfumeries and toilet articles fancy soap feathers furs dressed o on the skin and manufactures manufactures tures turcs of or hair have havo been heavily leav ly In- In Continued on 00 laage Nine r I DOWNWARD REVISION IS IiI NEW NEV TARIFf BILL PLAN From rou lue One Oae creed creased The Tho duty on lead Is reduced one Tho inheritance tax ta pro lon of which O tho the bill came carrIc includes a n. t per cent o all n all Inheritances GO n that Bro arc collateral over or In which grangers are tho the legatees Thi rho oct direct tax on to 1 I per PCr cent to 2 per ver cent over o three Vr per pcr I cent cont F Tho Issuance of ot bonds is authorized or Of there bonds 40 are Panama canal to ro- ro tho y for money advanced advanced ad- ad on canal work Tho other short aro are term c- c fl cates ates of ot Indebtedness to I pay tho tim ex ex- deficit of at U and ami f to tn KOOP J LUC Ule government go afloat financial financial- l ly w until tho revenues nay inay begin boffin to romo in under the new tariff law Chairman Payne Pac estimates that the revenues under tinder the n new bill will bi ag ag- ag- ag wi a year Tho The amount expected under tho th tance lance ta tax tax Is a year r. r Tho The total tota receipts expected under the tho now bill bi will I exceed tho average crage receipts under the law by a year The Inheritance tax 1 feature of r the tho new flew bill Is modeled bi on tho Now New cw York inheritance tax la law tx Surprise Is ex ex- ex pressed hero that tho the ways was and mcana mens committed estimate only revenue for Inheritance taxes In New cew ew York Cl City alono alone these taxes average aver ayer age ae a year year car It Is tes expected that a big light tIght will wi bo ho waged on this clause clauso of ot tho the bill especially In fn bi the Senate New Hampshire has already al- al lend ready leady adopted resolutions against ag It and had them presented to tho the I upper chamber i Moots l Elsh Patent L- L Laws Another provision of or tho tio bill bm is de de- de- de signed to meet tho the conditions resulting result result- jn ins ing from tho the patent laws of resul- resul Great Britain which require that patentees must manufacture their articles within Great Britain This provision applies the same samo rules to patents taken out in this country b by aliens count as appl apply to a Americans In tho the country of or tho aliens alens countI Tho The bill bil is built buit on the maximum and minimum plan with wih the provision that the tho maximums aro are not to go into effect until sixty days Jas after the So aCer passage e of tho the paa bill The bill bil generally general general- bil generl- generl I ly will into wf gO fro effect on tho the da day fol fol- oh- oh lowing its Ita Is enactment The Tho maximum duty Is 20 per cent higher than under un un- un- un der Ici tho the present tariff Tho The maximum and minimum pro pro- provision vision does doc awa away aw with wih tho the necessity Tor lor l foreign trade agreements 11 bo 3 is authorized to abrogate them upon notice Tho Tim President is Iso authorized to adjust the tho tariff with wih countries offering reciprocity or impo imposing n export duties by e executive ord er An A important feature of ot tho the new bill LI I Is tho thu provision that values of oC imports are aro to bo be mado made on tho the quo quo- lations of ot the American wholesale markets Her Heretofore appraisements of ur f valno o ha l been f on mado mn n on tho for for- n ign markot market quotations oro or on prices s in Invoices Experience has lias shown that fair tall valuations were not thus thu attained In tact fact act there have o b been en numerous cases whore where gross frau frauds s in undervalues havo o been gros de do- ot o- o t while without an Intention any of ot committing fraud importers have havo o ll aed thousands of ot dollars through thIs s system stem 6 of ot p paying duties dutes on 01 torf for for- f t With tho the changed method in tho 1 administration act provided for rOl in this para paragraph aph of or tho the Payne Pane hi ill II despite tho the fact that most of ot the tho I arc are decreased it Is estimated that thero will wi be bo an increase of 30 iO I l her er Hl cent in revenues b by this simple direct and equitable valuation I Received With lh l Eg rIC Tho The tariff bill bi was received b by tho the House with wih the tho greatest eagerness eagerness Members clamored for copies of or the bill m and the report from tho the committee caln calling attention aten- aten atten atten- lion tion to a number of or changes from Crom the tho Dingley law There Thero were not sufficient copies to satisfy tho the demand demandil in ill il full ful and an effort was made to toI tho of or ad additional I copies Chairman fl Payne said Id that he hoped tho the bill bI would come como from tho the ways und and means committee to which It had been referred without change Olde James of Kentucky objected to the printing of more copies of ot tho the bill billon billon bU on tho the ground that the bill bi ma may be amended in committee and the additional addi addi- tonal expense could not be bc Justified The republican members of tho the ways was and means committee met this afternoon to consider tho bill bl and the Democratic minority members alto aho aJEO held a a meeting to b begin Sin a study of or its Is provisions lons Mr lr Brou Broussard tho the recently recent recent- l ly t appointed Louisiana Luisiana Democratic member did ld not attend en tho the meeting of ot f the minority member although Mr h. h Harrison of of- New York also a a new member of at tho the committee did Mr Ir Broussard said that the Payne Puno bUt bill bi was satisfactory to hi his people There will wi bo be a meeting of at the full ful ways Mays and means menna committee tomorrow to discuss tho the bill bi It I Is probable that the bill bi will wi not bo be reported back bacle to tho the House before next Monday It I Is Eald th that t tho tIm Republican leaders leader desire desire de de- desire de- de sire to try tryout out the tho Democrats and see seo whore tho the fight to change the tho bill bi Isto is isto isto Theyan They to bo ho most vigorously pressed can an then ascertain what chances tho the Democrats may have to draft Republican J lican votes otes on schedules The Tho Democrat Democrats Demo Demo- havo have not decided whether r to fl fight crat ht tho P Payne Pe e bUt bill b by a Democratic bill ht or by amendments The decision I I cst with Champ Clark Democratic leader header cater Desire to 0 Stud Study Bill Di Expressions on tho the bill bi can cn not bo be hud had tonight tonight Tho The members Bay say the they desiro to study It more closely before undertaking a criticism of giving 0 of or dissent dissent The Tho Middle West i 1 is dissatisfied with free freo hl hides e with the tho wih i lut ut on lumber and with wih the reduction 1 la is to be on ou wool wol Whether a a fight tight made mado against tho the schedules Is not known There Thero is talk that the tho bill bU Is ts to bo be jammed through tho the House Inside oft of t I three hrco weeks To bring this about an fight against tho the bill bi byam by i am amendments will have to bo be choked off by special rules If I serious opposition oppoSition to the tho bill tion among the Republicans to bi ton hould bo be manifested before next Mon Men doubtful If debate can bo ho boso hoso la day It Is i cn so o restricted Should the Republicans mow how a disposition to accept general generl should be no difficulty tho the bill there thero bi vote veto on Oil It as 85 in ill securing an early i. i a 1 car It several of ot tho the Democrats favor Cavor tc and Florida a aaro Louisiana Mississippi i U I pleased with the tile protection given l en ire aro ro wih the California nn and their products ta product its citrus oas coast generally Is satisfied on Ott cirs and Now ow Massachusetts fruit schedule and free hides Iven free England are aro ae given and I I Canadian coal and only the tho cattle and Far Middle sheep growers ers of at tho the Iddle FarI I worried tonight Republican West est seem than would woul be more moro lican defection Democratic gains and Mr I ma made e up by Payne Pano has no flO fears cars fers of oS the tho spee speedy pas pas- pa- pa sago sage of or his bill bi the bo ho In ma What delay dela there may tho bill will come enactment of ot nynO bi wl members of at tho the Republican through committee under the lead the tho t f f Senator finance Aldrich vigorously The bill bl wilt will wi In tho the be bo threshed out moro more Senate than in the House No o ono can that it wilt will pass pars that body believe wl Work ork without material change The Tho fine on the new tariff law Will bo be done In wf Conference whore where the differences differ differ- between tho and are to bo be adjusted Payne the 10 re- re these will tr try out In conferences with Aldrich the tho Strato and the tho result will wi demon demon- whether hare President Taft Is to hit his wa way regarding a ot of the tariff downward n re Largo Large Bond BaUd I Issue 5 The Tho large bill is bond Issue provided Prided b by tho the not bi an interesting clause that ha ia escaped general notice It would seem I that tho Ecel revenue re from the tho sale salo ot of tho th Panama bonds and the tho cates ot of Indebtedness would woul bo be amp amply I sUfficient to UI Il Increased ed tido re the tho treasury treasur und n r over oyer UI- UI mi- mi Ui WOUld b be In j coming in An Au excess unusually heavy heay bond issue In L of or tho the needs of ot the government financial can en only be bo to the tho advantage of ot tho the banks of ot the greater mercial corn com centers by making more free mone money ness thereby encouraging bustness bust busi enterprises or been held speculation It I has recently that there thero is sufficient suf BUr mono money for legitimate commer commer- commercIal cial circulation purposes The he heavy hen Increase In would have havo the tho effect therefore those of ot of ot serving ser the tile speculators no 10 Interests except ex ex- It I Is possible that back O of the tho new tariff bill lies a doubt bace duce duco tho the bf les that i It will wil pro pro- revenues estimated and tho the bond issue Is authorized both with a view to the encouragement of or business 0 b by increasing circulation ion and to havo have on hand sufficient to car carry along the government for a much longer longor period than tho the public Is being led to believe Is necessary a |