THE UNITED STATES.

Otago Witness, Issue 3512, 5 July 1921, Page 13

THE UNITED STATES.

THE TARIFF BILL. WASHINGTON, June 30. The Permanent Tariff Bill has been introduced into the House. No official estimate of the revenue is made, but members of the committee expect it to be 700,000,000 dollars annually, -which is more than double the amount produced by the Payne-Aldrich Law. The wool schedule in the new Jaw shows material reductions in many instances. Hose and gloves are taxed 30 cents per lb, with a 25 per cent, ad valorem additional duty; clothing, 20 cents per Jb and 25 percent. ad valorem duty; knitted fabrics. x 5 cents per lb and 20 per cent, ad valorem duty. The lumber schedule as originally drawn up was cut to pieces. The committee heeded the Republican appeal to keep finished lumber on the free list, but taxed shingles. The free list includes printing paper, wood »ulp, leather, harness, and agricultural implements. I'■ : e duties have been raised on the great bulk of the imports which are already taxed. The committee reverses its original decision by putting a duty of 35 cents per barrel on crude oil and 25 cents on fuel oil. The retaliatory proposals were dropped, but if any country taxes the free list goods the President mav negotiate tor tlioir removal, failing which he can declare an equal duty on the product from such . country. The Bill also provides machinery for three years’ control of tho dye importations. BANK OF NATIONS. WASHINGTON, June 29. Mr Mellon, Secretary of the Treasury, told the Senate Finance Committee that more than a billion dollars was due to America as interest on the money loaned to foreign Governments. A total of 451,736,000 dol in interest had been paid on the 10 billion dollars loaned, and the repayments of principal up to June 17 totalled 162.292, OOOdol. Senator Hitchcock has introduced a Bill for creating a Bank of Nations, with a capital of 2,400,000,000d01, to act as the fiscal agent of the American and other Governments, who .would be admitted as stockholders. The bonds of solvent Govermm would be taken as payment for the etc ARMY RESTRICTION. WASHINGTON, June 28. A peculiar situation has occurred in regard to the Army Appropriation Bill, which was taken to President Harding by Senator Borah and Speaker Gillett, of the House of Representatives. Mr Weeks, Secretary of War, complained that he was unable to reduce the army to 150,000 bjr October 1, as ordered, and lie objected to the provision in the Act against incurring deficits after that date. Senator Borah told the President that if the Bill was vetoed Congress would cut the army to 10,000. The result of the conference was not divulged. PEACE WITH GERMANY. WASHINGTON, June 28. The Republicans agreed to the peace resolution, in which the senators accepted the clause inserted by the House of Representatives declaring that the state of war with Germany has ended, and the House agreed to the Senate provisions for the protection of American rights. .Tune 29. Despite the Republican agreement to the Peace resolution, Senator King (Democrat) has introduced resolutions for the ratification of the Versailles Treaty, also for a separate peace with Germany. America has refused the League of Nations’ invitation to be represented at the forthcoming White Slave Traffic Conference at Geneva. July 2. The House of Representatives passed the conference’s report on the peace resolution, which now goes to the Senate. June 50. President Harding has signed the peace resolution. GENERAL ITEMS. WASHINGTON, June 00. Mr W. H. Taft has been appointed United States Chief Justice m succession to the late Chief Justice White. A settlement of the conflicting claims between the United States railways and the Government has been reached. The settlement provides that the railways shall be permitted to issue bonds in part payment of their indebtedness, and for the permanent improvements during Government control. A substantial Government grant is also probable, for which 200,000,000 dollars will be available. A Congressional appropriation will be necessary for the final settlement.