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DR. E. M. LONG DENTIST Over White 8c BurcharcT Drug Store, Union City, Tenn. Telephone- OiEca 144-2, Residence 144-3 DR. E. M. LONG DENTIST Over White fit Burchard't Drug Store, Union Gty, Tenn. Telelphone Office 144-2; Residence 144-3 i0,",.City Commercial, est. ilirtied J 8$ ! Consolidated September 1. 1S97 West lemiessee Courier, established law l UNION CITY, TENN, FRIDAY, OCTOBER 10, 1913 VOL. 23, NO. 28 Commercial if sty OI2y I Corii(bt 1909, by C. E. ""amermiii C0.--N0. IS ITiS ALWAYS BRIGHT and sunny for those with money in the bank. There are bright things and there are bright lights for those wise enough to provide for the future and lay some thing away when things are bright. Old National Bank Union City, Tnnne MONEY TO LOAN Oil FARM LANDS. ' I am authorized to take application for loan on lands in Obion and Weakley Counties, Tennessee, and Fulton County, Kentucky. The terms and conditions upon which fhis money will be loaned are most favorable to the borrower. All or any part of a loan may be paid after one year, interest being stopped on payments made. Loans are Made at 5 J per cent. Interest on ten years" time, or for shorter period if desired. If you are consi ONCE. idering a loan, it would hu well to make application AT ;-:OU S P RA DLI N Attorney At Ldw a & Union City, Tenn. S&d ' Wheat Clover, Timothy, Alfalfa, Red Top and all kinds of Field Seeds. Grain Co- Wholesale and Retail JSrain, Hay and Field Seeds Union City, Tenrv Telephone No. 51 Ask for Our prices before selling Your Grain and Hay. o D OsSSItt' 1 1 r-I iUf 0l ftW -ft Tift 9 Y on improved farm lands, drawing interest at ; : &V PER CENT for term of five years. Will loan any amount from one thousand dollars up. w. e: hudgsns . Attorney At Law Phones 1 43 and 56? UNION CITY, TENN. UNDERWOOD-SIMMONS TARIFF BECOMES LAW Washington, Oct. 3. With solemn pride the President signed theTariff Bill to-night, and the leaders of the Demo crats watched him pin the future of the party upon his signature. For ccord ing to the success of the measure the Democratic party, as at present led and constituted, will stand or fall, and those in the little room knew it If the tariff law realizes the hopes of its creators the party's domination will endure; and if those hopes are blasted Democracy is blasted, too. . Such thoughts being uppermost, it was an impressive, ceremony in the President's room of the executive office suite at 9:10 o'clock to-night. By Woodrow Wilson 's act the Democratic party became for the first time in recent years an administrative party, and ou his pen stroke what had been a proposed bill became the law of the land. After the President's hand had guided the point to its final flourish great ships that reached our ports from foreign lands and trains that crossed our borders passed under a new taxing system, as different from the one heretofore existing as day is from night. After the President had signed he made a little speech. It will go down in history as classic. The President spoke in a low voice, of even modulation, but everyone in the room heard him, and everyone was gripped by the intensty, the pride, the hope and the solemnity that rang in his tones. He said he had assisted in doing the thing he had dreamed of since boyhood-'-evening the burdens of taxation and helping to make business free. SUMMIT HALF GAINED. "It is a solemn moment for me," said the President. "Democracy now rests iu the pleasant inn, half-way to ward the summit of achievement, and, when the Currency Bill is passed, the summit will be gained. That is what the country is waiting for," he told the distinguished men who were gathered about him, and he says he has the ut most confidence that the Senate will do what the nation is expecting, and pass the companion measure to the Tariff Bill within a'reasonably short time. Th ree-f ou rth s of th e Presiden t 's speech dealt with the linking of the currency with the tariff. Both are necessary, he said, to make business free and relieve the burdens of the people, aiid the Demo cratic party has consecrated itself to that dual end. The political significance of this por tion of the President's speech sank in upon bis audience. All felt the firm hand behind the noble language. All knew, whatever their views about the need of immediate currency revision, that Woodrow Wilson means to have it, that he believes the nation requires and expects it and that he will not rest con tent until he lies in the inn at the very summit of the party's achievement. SHARING IS HONORS. During the President's address no one moved or spoke. The thought of ap plauding its stately periods came to no man there. It was too powerful and too earnest. After the President had finished a sigh ran among these men, seasoned as they are to great oratory, that preceded a storm of applause. A moment after Mr. Wilson's voic8 ceased to be heard he had turned and was sharing congratulations withChairman Underwood, Senator Simmons, Repre sentative Hull and others whose work had mad to-night's triumph possible. But the lesson he read and the determi nation he enunciated did Dot loosen grips on the understanding of any man there. Like the companions of Ulysses, who 'ever with a frolic, welcome took the thunder and the sunshine," the great leaders of Democracy who had worked and counseled with the Presi dent stood around him when he signed. There was Oscar Underwood, whose steadfast genius originated and guided the Ereat bill atfd whose firm hand kept the party triumphantly together during its consideration. There was Senator Simmons, of North Carolina, chairman of the Finance Committee, who had toiled long and faithfully and wrought miracles of tact and tenacity. Modestly in a corner stood Secretary Bryan, the leader of the party in darker times, in voluntarily nodding his head at the President's statement and looking fond-j ly at the new chieftain. Unobtrusively, in a faraway corner, was Cordcll Hull, PARAGRAPHS FROM WILSON'S SPEECH. I feel to-night like a man who is lodged happily in the inn which lies half way on the journey to the summit of achievement. , I feel a profound gratitude in having had part in serving the people of this country as we have been striving to serve them ever since I can remember. If it be a sin to covet honor, then I am the most offending soul alive; and I do not covet it for myself alone. I have had the accomplishment of something like this at heart ever since I was a boy. v "We have set the business of this country free from those conditions which have made monopoly possible, and in a sense easy and natural. There is no use taking away the con ditions of monopoly if we do not also take aw.ay the power to create monopoly. The power to control and guide and direct the credits of the country is the power to say who shall and who shall not build up the industries of the country. We are about to take the final step in setting the business of the country free. That is what we shall do in the Currency Bill. , . - . the brilliant young Tennessean who framed the new income tax and made possible the reduction of tariff on count less necessaries of life. And there were many more -the Speaker, gazing gently upon his one-time rival for the presi dency, Cabinet Ministers, Congressmen, the Vice President and others whose names are fraught with the history of the party and the nation. ' But foremosl, among them all, was the President of the United States. A happy group of legislators, mem bers of the Cabinet and friends encircled the President as he smilingly sat down and slowly affixed his signature with two goldpens. '"' He presented to Eepresetative Under wood the pen that had written the word "Woodrow," and the one which had completed his name to Senator Sim' mons, both of whom bowed their ap preciation. "We.'ll be coming here again in a short time to see the Currency Bill signed,;1 said Secretary Bryan. Secre tary McAdoo spoke with equal confi dence. RATES NOT INVOLVED. It is generally understood that a de termined effort will be made as soon as the new Congress cdnvenes for the regular session in December, if not be fore that time, to take up cotton futures tax legislation, and to endeavor to pass a separate bill to regulate co'.ton ex change trading and to lay a heavy tax on that branch of cotton trading which members of the House and the Senate characterize as "gambling.". Germany will be the first nation to take advantage of that section of the new Tariff Act which provides for the negotiation of reciprocity arrangements embodying mutual concessions in cus toms taxes. Already the initial steps have been taken to secure such an ar rangement in anticipation of the sign ing of the bill by the President to-night. The chancellor of the German Embassy, acting in the absence of Ambassador Bernstorf, has been in communication with the State Department, and it is ex pected that a rough outline draft of such an arrangement as is referred to in that section soon will be ready for con sideration. " . As it emerged from conference this section no longer contains the retaliatory provisions inserted in the Senate, and is now nothing more than an authoriza tion to the executive to "negotiate trade agreements with foreign nations where in mutual concessions are made look ing toward freer trade relations and further reciprocal expansion of trade and commerce." FAR-REACHIXQ REVISIONS. A new income tax, applying directly to the incomes of citizens; the abolition of all tariff on scores of items of im mense importance to American industry and American consumers and a heavy reduction of tariff rates on most of the articles in general use in this country are itichief features. While certain portions of the "new law do uot take effect at once, most of its provisions and almost all the direct Oi We have just received a car of New W imer eed Rye THE BEST THE MARKET AFFORDS LSO HAVE CRIMSON CLOVER and HAIRY VETCH All for Winter Pasture. See us before you buy ii. F isilalo Son UNION CITY, TENN. W E W ILL BUY Er A R C O R N In Car Load Lot at any station in Obion County Ask us for prices before selling. Taylor Grain Co. UNION CITY, TENN. Telephone 182. Will buy corn, any amount at Union City. i " . 01 10 tariff reductions do.- At every port Collectors of Customs, Appraisers of Merchandise and hun dreds of other employes of the Treasury Department will plunge at once into the task of collecting the nation's revenue on a new basis, and with hiindreds of new classifications and new provisions of law to complicate their activities. The Federal Government has been spending nearly a billion dollars a year and the new tariff law will raise less than one-third of that sum. Experts in CoDgress predict that the rates will raise $249,000,000 a year, and that the income tax will raise $122,000,000. The remainder of the Government's great income is made up principally of in ternal revenue taxes and postal receipts. The income tax probably will bring the new tariff law most forcibly to the attention of citizens. President Wilson and Democratic leaders in Congress be lieve, however, that the reduction of duties on clothing, foodstuffs and other necessaries of life, and the complete removal of th duty from many like articles, will eventually bring a reduc tion in the "cost of living" without ma terially affecting business prosperity. SUMMARY OF NEW LAW. A brief summary of the new tariff law as prepared for the Senate follows: Average percentage of tariff rates as compared to the value of all imported merchandise." Old law, 57 per cent.; new law, 27 per cent. Value of annual imports added to the free list, $747,000,000. . . Estimated revenue from all import rates: Old law, $305,000,000; new law, $249,000,000. Estimated revenues from corporation and hxioiue taxes: Old law, $37,000, 000; new law, $122,000,000. Altogether consumers in the United States probably will receive from abroad free of all tariff, more than $1,000,000,- 000 worth of merchandise during the next year. " During 1912 the amount of free imports" was more than $SS0,- 000,000, and when the tariff is entirely removed from wool, sugar, iron ore and cheap iron and other important items, the total is expected to increase notably. Under the old law more than 53 per cent of all goods brought to the United States from all parts of the world paid no tariff, and that portion will be in creased by the new law. The free wool provision of the new law takes effect Dec. 1, 1913, tho free sugar provision May 1, 1916. NINE MONTHS' WORK. The new Tariff Law, passed four years after President Taft signed the existing Payne-Aldrich Law, is the result of more than nine mouths of work in Congress. Hearing were started January 6 by the House Ways and Means Committee. Chairman Underwood introduced the Tariff Bill April 7, immediately after President Wilson had convened the new Congress. It passed the House May 8 ana tue senate September 9. in tne opinion oi its makers, the Democratic leaders of Congress, the most important features of the new tariff are: "A reduction of nearly one-half in the avorage tariff on foodstuffs and farm products. The placing of raw wool on the free usi, anu a reuueuon oi neany two thirds in the tariff on woolen clothing, especially of the cheaper grades. A reduction of one-third (average) on cotton clothing. Reduction of the sugar tariff and its ultimate abolishment in 1916. A reduction of one-third (average) in the tariff on earthenware and glassware. Abolishment of all tariff on meat, fish, dairy products, flour, potatoes, coal, iron ore, lumber and many classes of farm and office machinery. , General tariff reduction on all im portant articles in general use, Throughout the long fight, over tho bill the Republican attack or. the meas ure has been directed agains'. those rates whicb. the Republicans dodared were so low as to threaten destruction to Ameri can industries, through the competition of foreign manufacturers. The Demo cratic supporters of the t;ew law have in sistwl that except in thosa coses where publJc walfare demanded radical changes th Unff has beea reduced only to ft point wbers v will stimulate compe tition," without turning American market over to foreigners. A great amount of work will fall up on the Treasury Department, it is ex pected, in working out the details of the new income tax and the methods of col lecting tne direct taxes xrom individual citizens of the United States. The tax upon corporations, now fixed at 1 per cent, of their income, remains the same, and becomes part of the general income tax law. A staff of special deputies, collectors and agents will bo employed to organize and conduct the work of in come tax collection.