Democratic Sentinel, Volume 17, Number 50, Rensselaer, Jasper County, 29 December 1893 — Average Cut of 35 Per Cent. [ARTICLE]

Average Cut of 35 Per Cent.

The average cut in duties, says the Washington correspondent, is between 35 and 40 per cent., with no duty going beyond 50 per cent, ad valorem and very few coming up to that mark. The uniform substitution of ad valorem for specific duties makes it quite difficult in many instances to accurately estimate the extent of the cut until acjual experience in importations gives some guide by which to go. The actual loss from additions to the free list can be computed on the basis of importations for the fiscal year 1892, but not for the year ’93, because complete statistics are not at hand. When the two years are averaged it will probably appear that the additions to the free list will he to cut down revenues by $20,000,000 to $22,000,000: of this $8,000,000 may be placed to the account of free wool; coal will cause $1,000,000 deficiency; iron ore, $750,000: lumber, $900,000; salt, $400,000 ; silver lead ore, $850,000; flax straw, hemp; etc., $250,000. The duties on other articles which will go on the free list have ranged from $5,000 to $250,000. ■ The total on the chemical schedule will be a large one. Tinplate is not made free. The old rate of 1 cent a pound is fixed, and it is estimated that $11,000,000 may be secured, or $2,500,000 more than can be counted on under the present law. There has been great contention over woolens, but with few exceptions the rates run from 25 to 35 per cent, ad valorem, rarely rising to 40 per cent.