THE TARIFF BILL.

Dominion, Volume 7, Issue 1873, 6 October 1913, Page 7

THE TARIFF BILL.

AND THE'ESTIMATED REVENUE. By Telegraph—Press Association—Copyri&ht Washington, October 3. The Tariff Bill, now awaiting President Wilson's signature, reduces tho tariffs by an average of 10 per cent, all round. Tho estimated revenue under the new law covering imports will bo reduced by> ten millions sterling, which is expected to be.replaced by an income tax. Tlio value of tho imports added to tho freo list exceeds thirty millions sterling. Tho Democratic loaders expect ,a reduction by nearly oilo-half in tho average tariffs on foodstuffs, which it is hoped will materially affect tho cost of living. Undbr the now law corporations will pay a tax of 1 per cent, on incomes. THE MEASURE SICNED. FATE OF THECTOREftCY BILL. (Rec. October 5, 5.5 p.m.) Washington, Octobor 4. The President (Mr. .Woodrow Wilson) signed the Tariff Bill at nine o'clock to-night. Simultaneously telegrams wore sent to all tho Customs collectors of tho United States informing them of tho terms of tho measure. ' Tho fate of tho Currency Bill is still unsettled. DEMOCRATIC PAPERS JUBILANT. : (Rec; October 5, 5.5 p.m.) New York, October 4. Tho Democratic papors are jubilant over tho passing of tho Tariff Bill. Tho averago reduction to 28 per contum is fho lowest for three-quarters of a century. Ovor fifteen millions sterling of bonded goods in Now York alono are awaiting release under the now tariff.