New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-12-05


as any manufacturers Of iron viii testify further
proof necessary that our manufacturers OF iron are
not adding heavily TO their liability for income tax TINS
year In addition not working NJ all for three mouths
they have for tie other three mouths been making
iron at osssoetimes az high AS eco per tun. Others
have been saved om loss BY the fortunate purchase o
material when the market was depressed.
The internal revenue tax on iron 49, On I'lg Iron.
e. 40 per tuu OF 1000 10. or 5 y cent al vaorem.
Castings. g. % per tun Of 1900 u. or IL cent sd
yaloren.
Railroad bars, e. co per tun OF 1900 n. or y cent
I'D vaOrem.
Merchant bars, o. 60 per tan of 1900 n. or p cent
al vaorem.
Rivets. cut nails and cut spikes 81 40 per tun. or
n cent al ynlo'elD.
Wrought spikes and railroad chairs Sc per tun. or
II " cent ad vaorem.
Unenumerated articles y cent ad valorem.
Explanatory OF the above table let 1t be understood.
by those unaoquainted with paying taxes on manu-
features that in the rate per cent Is included the entire
tax paid by the article In question.
Thus. castings made from Fig Iron that has paid
e. 40 tax paws again % GO per tun
The Tax paid on castings is. therefore, 90 per tun
Railroad merchant bars made from - cwt. Of Pig
Iron that has paid - again pays 81 co. total 60 CO.
Rivets &c.. made from Merchant Iron thai has paid
" DO pays az 40 additional. OF 60 per tup.
Railroad chairs and wrought spikes are made from
bars that have paid 81 CO. 10 this Is added ~ or &2 ~
por tun.
This last .er-he tax on railroad chairs and wrought
spikesis clearly blulder, and Is gigantic fraud on
the manufacturer.
Ii u arranged In the act that when ryets. &C.. arr
made from buriron that has paid the two taxes TIM,
amount TO- have seer. e. 90 per tun. they shall
pay ouly o. 10 per tun sdditional-wheroas II made
from iron which has been axol in the pig only they
pay. 81 per tuu.
In this arrangement. by some means (most probabl,
the important manufactures that enter ~
largely the creation ~ locomotive facilities
railroad chairs boat ship and railroad spkes-wer'
not included.
Our legislators may have thought that the large dis
onaIy power left In the hands OF the Commissioner
Of Intern Revenue would BE- exercised In accordance
with the spirit and ntont OF tho law In analogous cases
when no specified provision had been made.
But in all his rulings. far AIN acquainted will
the hin first and almost only idea seems TO have beei
to secure the largest possible amount 10 the treasury
"Cut nails and spikes" was interpreted into en-
nails aud cut spikes thus excluding the wrought spike
from tho provided immunity. The act said nothing
about taxing the bar iron that railroad chairs ant
wrought iron spikes were made from. Commissioner
aterward the spike and chair must pay the tax which
the law levies.
| The tax follows the iron after II leaves the manu-
fctuer II converted into steel It pays o. ~? or ei'
per tun-accordDg 10 value IT, again. rolled or ham
mercd Into any other size or shape, s1 per cent more
III said iron or steel !s used In the construction n
locomotive or marine engine six per cent on toe enre
| value Is again paid. Thus: .,u
Ltsa s.neh murderer, steady to hi. purpose.
Pursu~s II close through Every va"""""So"s
Nor misses the rsok'- a. - .
Until IL We we're To catch OF the hyiDg parts OF
bur.t nm niece of machinery and ask how much tax
had paid la proportion 10 It, value might answer
g. 80 or 100 per cent .,a and
when he war was in progress advancing s0'a soo