University of South Carolina Libraries
TARIFF FOR REVENUE. UNDKKWOOD I'LAN WOULD RE DICK TAX ON SUGAR K;..lbcd by QUKW Practically Amounts 10 Proportionate Levy on Larger If Of, Washington. March 1.?A bill to put ?ug.ir on the iree list, eliminat? ing $03.000,000 in annual customs revenue, and another to extend the present corporation tax to include in? dividuals and copartnerships doing business of $5,000 a year or over, were ratified tonight by the Demo? cratic caucus of the house. The excise tax, socalled by the ways and means committee, is in effect an income tax. The bill is so drawn that it is expected to comply with the supreme court's decision against the constitutionality of an income tax. Its effect would be tax every person who earns more than $5,000 a year on the excess of $5,000 at the rate of 1 per cent. The estimate of Chairman Under? wood and members of the ways and means committee Is that the proposed excise tax would bring in a revenue of between $50,000.000 and $60.000, 000 a year. PJacing sugar on the free list, the Democratic leaders estimate will reduce the price of sugar to the consumer about a cent and a half a pound. The secret that members of the ways and means committee had been so closely guarding for several days | was the provision to extend the cor? poration tax. In the caucus that bill was not se? riously opposed. The free sugar bill, however, Was bitterly assailed by representatives from Louisiana, the cane sugar State, and representatives from sugar beet growirg States, who were absolved from the bond of the caucus. No roll ?call on the ratification of the bills was demanded. Mr. Underwood announced that the bills would be reported to the house in a few days. "We simply took the corporation tax law and rewrote it to include in? dividuals in the copartnerships,' said Mr. Underwood tonight. "The bill, to illustrate, simply means that I, whose business is that of a member of con? gress, will pay to the government 1 per cent of my salary income over 16,000 The salary of a congressman i- $7,500. I would therefor pay an excise tt x of KB ? year." The president of the United states j should tbe p*vpt;.?ed bill b*oo*me a law would ;*y 1 ue.r cent on $70.000 or $700, hi*, salary being $75,000. When the caucus met Chairman Underwood made a statement that he had been directed by the ways and means committee to submit a bill to place sugar on the free list and an? other bill extending the present ex? cise tax. now levied by law on cor? porations, to individuals and copart? nerships having an annual income of more than $5.000 a year. "The bill removing the taxes levied to the consumer about 1 1-2 cents a ported into this country will have the effect of reducing the price of sugar to the consumer about 1-2 cents a pound." said Mr. Underwood. The statement further says that in the opinion of the ways f-.nd means committee the large profits made by manufacturers and refiners of sugar have been due to the customs tariff and that while placing sugar on the flee list would reduce the profit, it would not destroy but would result in a saving to the American people of $10.000.000. "The purpose of the excise bill presented to the caucus." Mr. Under? wood said, "is to extend the tax on doing of business by individuals and copartnerships. This special tax will accomplish the same result as would have been accomplished by an in? come tax if it were within the power of congress to enact an income tax law so far as raising revenue Is con? cerned, but, at the same time, the bill keeps well within the principles laid down by the supreme court in Hi decision affecting the constitu? tionality of the eorporatlon tax law. "The bill does not in any way alter, amend or repeal the corporation tax law as I1 now stands on the statute books, hilt provides that every per? son, firm or copartnership shall l??> liable to pay a special excise tax equal to one per centum en the ? n tire net income over and above $'>,oao received by such person from all sources during each year and further piovides that in computing the in? come of any person there shall not he Included the amount received from any corporation, joint stock company or association or insurant e company, if the special excise tax on i per centum now Imposed by law has been paid by such corporations or stoek companv or Insurance company or as? sociation. "In other words, tin income de? rived from dividends of a corpora* tion on which the tax is now levied by law from other sources of business than thosr. named in the corporation tax act will he subject to ;i tnx of 1 per cent, where the net ircome CK PWBBP???^M^i ? ? ceeds $5,000 annually." The statement further says: "That if these !>ills become law they will have repealed a burden of taxation now borne by the American people on a food product that all must consume of $107,000,000, and will have substituted In place thereof taxes that probably will aggregate be? tween $50,000,000 and $00,000,000 and that will be collected from per- j sons of an income of more than $5,- . 000." The sugar bill submitted to the caucus would eliminate the much dis? cussed Tutch standard and contains the following provisions: 'Sugars, tank bottoms, syrups of cane juice, melada, concentrated me Isda, concrete and concentrated mo? lasses, maple sugar; shall be admit? ted free of duty. "Saccharine. 6 5 cents per pound duty. "Sugar candy and all confectionery not specifically provided for in this act, or in the first section of the act cited for amendment, valued at 15 cents per pound or less, and sugars after being refined or adulterated, 2 cents per pound valued at more than 15 cents per pound, 25 cents per cen? tum, ad valorem. The weight and the value of the immediate coverings, other than the outer packing case or either covering, shall be included in the dutiable weight and the value of the merchandise." Chairman Underwood's statement then continues: "The removal of all taxe3 at the custom house will of course reduce the revenue that the government needs by $52,000,000, and it was nec? essary for the committee on ways and means to provide other sources of revenue to take the place of the loss from the removal of the taxes on sugar. To accomplish this result, the ways and means committee deter? mined to present to the caucus a bill extending the present excise tax on corporations to individuals and co? partnerships. "The supreme court, notwithstand? ing Its former decision, holding that an income tax was unconstitutional, has maintained the constitutionality of an excise tax levied on all corpora? tions doing business in the United States The Supreme court has de? cided that congress has the power to levy a special excise tax on the doing of a particular business whether that business Is conducted by an individ? ual or a corporation, and In the case of Flint ver? the Stone-Tracy rom , any, in wh they held that the cor? poration tfl as constitutional, they dt 1 Ided tha >ngre.?s had the power to levy a sp? 1 il excise tax on the do- j ing of all business by corporations. "The purpose of the bill presented to the caucus is to extend the tax on doing of business by individuals and copartnerships. The special excise tax will accomplish the same result as would have been accomplished by an income tax law so far as raising the revenue is concerned, but at the same time the bill keeps well within the principles laid down by the supreme court In its decision affirming the constitutionality of the corporation tax law. "Under the present law persons who have their money Invested In cor? porations that are employing labor and developing the country are taxed 1 per centum on the net earning of the corporations. "Why is it not equitable and just to impose a similar tax on individuals whose money is invested In lines of business not organized as corpora? tions? Under the present law the stockholder in a corporation is com? pelled to pay a tax and the bond? holder, who as a rule takes little or no risk in the business, is not taxed. If the bill becomes a law, the bond? holder cr?n be taxed os the sam< basis as the stockholder. The levy of this tax is not excessive; a man having an income of $10,000 would pay no tax on the first $5,000 and on the second $5,000 would pay only $50 a year, and yet from *he estimates made we feel assured that the levying of this tax will produce a revenue for the government that wllJ equal that lost by the repeal of the tax on sugar. "The present corporation tax raises about $."0,000,000. and if the special ?vise tax on individuals raises $fiO, 000.000 more, it will only place a di? rect burden on the wealth of the country of about $uo,ooo.ooo, a* com pared with $700000.000 or $800000. 000 ihai we must raise to support the government. As the wealth of the country receives great benefits from the maintenance of the government, it is not believed thai the collection of this amount of t.ixes from this source will b?> regarded as unjust. "There has been a universal and general demand eomlng from all part- of the ITnlted states f,?r free sugar, the high coal of living may be reduced to some extent. Th?- remov? al of tiiis tax will bring relief to all, no matter how poor, and the burden will be shifted to tie.-.- who are pos? sessed of more than comfortable for? tunes and can bear the additional tax ! j without serious Inconvenience." Pome <>f ihe special provisions nf| the Income his or excise bill provide that in computing incomes expenses actually incurred in carrying on busi? ness, not including personal living or family expenses, shall he deducted, as shall interest on Indebtedness. Na? tional. State, school and municipal tax \s, not including those assessed Sgslnsl local benefits, shall be de? ducted from the profits on incomes of the persons who aetualy paid them. Losses by fire, shipwreck, storm, etc. not compensated by insurance, and worthless debts are to be exempt." The term "business," as employed in the act, is held to embrace every? thing about which a person can be employed, and all activities which oc? cupy time, attention and labor of per sons for livelihood or profits. The word "persons" is held to include nat? ural persons or individuals or firms or copartnerships. One provision is drawn to elimiate salaried men who contribute to the taxed Income of firms or companies. Another provision would direct all paymasters and disbursement officers of the United States to deduct the tax from payments to government em? ployes. A wrong Idea. Laurens Advertiser. A great many people have the wrong idea of their obligation in Jj boosting a town. They seem to think when some public spirited ciMzen goes to work and carries around a subscription list to solicit stock to an enterprise of some worth to the city, that all that is necessary is to subscribe to the stock. That is, in itself, a commendable spirit if that part of the support is followed up by something more tangible. But it seems in many instances, and it is said that it has happened in Laurens rather recently, that people subscribe to stock for these enterprises and when, after trades are made and deals closed, the time comes to pay over the subscription money they fail to come across. Now, this is not show? ing the proper spirit and i3 not really carrying out an obligation made and relied upon by others. This should not be the proper spirit for the growth of a town. Antelopes Block Train. Herds of antelopes so great as to impede the progress of trains are re? ported by passengers coming from the South and they ar.- ravishing thousands of acres of what yet un Ihreehod, says >? Calgary, Canada, special. Passenger say they have seen herds a thousand strong, and the fact that the animals are protected by the game laws of the province make th im very bold. Farmers are pre? paring to ask the government for re? lief, for much of the crop of Alberta, principally in the south, is still in the stack. They say that even if every hunter is allowed to kill 25 of the animals it will be many seasons be? fore the herds are depleted. You can say goodbye to constipa? tion with a clear conscience if you use Chamberlain's Tablets. Many have been permanently cured by their use. For sale by all dealers. The report having been circulated among the blind tigers and boot leg gers that a gang of detectives was at work in town and a roundup impend? ing, there has been Quite an exodus of negro tigers to parts Unknown. Experience has taught the tigers that it is dangerous to face the music In Sumter and they take to cover at the first hint of danger, not waiting to find out whether the report is true or false. To Mothers?And Others. You can use Bueklen's Arnica Balve to cure children of eczema, rashes, tetter, chatings, scaly and crusted humors, as well as their ac? cidental injuries?ruts, burns, bruises, etc., with perfeci safety. Nothing else heals so quickly. For boils, ulrers. old, running or fever sores or piles it has no equal. 25 cents at Blbert's Drug Store. The commission form of govern? ment committee of the Chamber of Commerce should call a mass meeting at an early date to launch the cam? paign for the commission form of government election. If the matter is not handled in a business-like man? ner and the facts properly presented to the people, the election will go by d< fault. Repels Attack of Death. "Five years BgO tWO doctors told m<- I had only two years i<> live." This startling statement was mad; by Ktlllman Green, Malachite, Col, "'l hey told me I would die with con? sumption H was up to m<- tlo ii ty try the hesl lung medicine and I be? gan to use Dr. King's New Dlscov-1 ery. n was well I did, for today I ' am working and believe I owe my life t.. this great throat and lung cure that has cheated t|ie grave of another victim " Its folly to suffer with coughs, colds or other throat and lung troubles now. Take the cure th t's safest. Price BO cents and 11 00, Trial bottle fr ?c nt Blbert's Drug Store. How Cold CUM Kidney Disease. Partly by driving blood from the surface and congesting the kidneys, and partly by throwing too much work upon them. Foley Kidney Pills strengthen the kidneys, give tone to the uninary organs and restore the normal action of the bladder. They are tonic In action, quick in results. Try them Slbert's Drug Store. Eggs are beginning to be more plentiful but the retail price holds steady at thirty cents. R. G. Collins, Postmaster, Darne gat, X. J., was troubled with a severe la <rippe cough. He says : "I would h* completely exhausted after each lit of violent coughing. I bought a bottle of Foley*! Honey and Tar Com? pound and before I had taken it all the coughing spells had entirely ceased. It can't be beat." Slbert's Drug Store. The Burdell Hospital for Camden is developing more rapidly than has the Tuomey Hospital for Sumter, al? though the Tourney Hospital had sev? eral years start of the Camden bene? faction. You judge a man not by what he promises to do. but by what he has done. That is the only true test i hamberlain's Cough Remedy fudg? ed by this stai dard h( i no superior People everywhere speak of it in th9 highest terms of praise. Foi sale by all dealers. KEEP TDK KIDNEYS WELL4 Health Is Worth Saving, ami Sonic Sumter People Know How to Save It. Many Sumter people take their lives in their hands by neglecting the kidneys when they know theso or? gans need help. Sick kidneys are re? sponsible for a vast amount of suf? fering and ill health, but there is no need to suffer nor to remain in dan? ger. Use Doan'a Kidney IMlls?a remedy that has cured thousands of kidney sufferers. The following statement caves no ground for doubt. Mrs. J. B. Hamll. 1432 Front Street, Georgetown. S. C, lays: "I gladly recommend Doan'l i\ <!aey Pills, for l have been greatly ben lilt? ed by them. Bevera backaches and pains across my loins caused me much annoyance and 1 also suffered from headaches and dUCiy spells. When Dean's Kidney I'.lls were rec? ommended to me. I '?egan lle ir use and they gave me splendid relief. I am now free from backachi i and headaches and my kidneys u> not tr 'ible me. i cheerfully recon mend Doan'l Kidney I'ills in return for the good work they have, done." For sale by all dealers. 1* Ice 50 cents. Foster-Milburn Co., Buffalo, New York, sole agents for the United States. Remember the nami?Doaa's and take no other. No. 21 Many a Man Is a critic heca isc he like.?> to be contr irv. You can ?;o contrar) lu the wishes ol v n u r friendand in ighb<>rs and sometimes get the best of them ; i>nt o.> contrary to t he diclat< s of nature and you al? ways get the worst of it. If Nature Says Spectacles, Why, Spectacles it mu^t he. Nature won't ac cent just Spectacles though; Ihey must be right Spectacles. We can give the kind nature demands, and our prices are right, too. t iraduate >. optician in eh irge. W. A. Thompson, NEW CROP GARDEN SEED We have just received a full line of Landreth's Famous Seeds in Five Cent Packages and in Bulk. Ask for Illustrated catalogue. HEARON'S PHARMACY PHONE 36. 11 S. MAIN ST. V_/ High Grade Field and Farm Seeds. Mixson's Seeds Grow. They are grown in THE SOUTH for the SOUTH. LONG AND SHORT STAPLE UPLAND COTTON. The Beat Varieties. Write for prices and Information. CORN, SORGHUM, MILLET, VELVET BEANS, ETC. Our Corn is all high-bred SOUTH CAROLINA CORN. Get our Illustrated Catalogue of all Vegetable and Farm Seeds. W. H. MIXON SEED COMPANY. CHARLESTON, S. C. Melon Seed. StoneyV Improved Watson: Extra fancy, from melons pounds and .A from lbs vines, nelds reserved exclusively for seed purposes. Rind very firm?the best carrier, best shipper; meat very sweet, luscious, melting?excluding other melons from a)i markets. Very prolific?produc l car per acre. Seed 75 cents pound in any quantity, f. o. b. Allendale, . C, cash with order. L. A. Stoney, Allendale, S. C. References: Allendale and Citizens' Banks. Allendale, S. C. Save Your Earnings. The Greatest Nation of individual efficiency is France, ITS EFFICIENCY IS DUE ENTIRELY TO ITS SAVINGS. The people render themselves free from the im? mediate bread and butter problem, and are conse? quently enable to individually perfect their effi? ciency. The Farmers' Bank and Trusl: Co. t-> Approved Methods. In all the essential details of it's business, this bank seeks out and follows the safest and most approved methods. THE BANK OF SUMTER. SUMTER, S. C. l_ _ _ r LIME. CEMENT. \^J^l^^ if,,,. C*T'\\\\ Rice Flour. Ship Stuff, Bran. Ildy, VjIdUl, Mixed Cow and Chicken Feed, Horses, Mules. a":l1 \,? Order Too large Or Too Small. Booth-Harby Live Stock Co SUMTER, SOUTH CAROLINA.