Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1866-02-01

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paine have bssn taken By the Cozuission
20 devise sooe means Of preventing fraud In
the collection Of tasss On thses ssticjss."
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TAX NOT 10 % LsvisD uroH lsAS TOBACCO.
In respect to tobacoo, The Cemmi0iou
are unanimously Of the opin' on that tai
should not b laid upon leaf With some
amendment Of ths present. law, aad With
the exhauseion q ~ olock ia tbe eounteY,
made In anticipation af The tAx which. h
nearly effected, the commission believe that
the government may safely rely upeo "a
annual revenue from this source ~ ~ II.
mediate future Of at least vl6, OOO,OO0.
An rucons fAx MOST sAflsyAcronY.
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~;ii nrohshiv ~ s..s.;n.d 18th i.s. a..,;
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s.rs.;on - ni:cr;1,rss;.. - ~ 49," -. =,
-. is.;.d ~ ;~s..s. $500 go 4. ......
- a. ~ = l ... ..'I :.. .'; ~': ~ 49,
I tsx on The results Of enccessful ;ndustrv
aud business interpriss and the somusis-
sion recommend that this determination be
abrogated, and the rest be equalzsd. They
recommend that in future assessments Of IL.
comes, 81 900 be exempt from taxatiou
and that in assigning the income TAI, no
allowance be made for house rent. o., q
lesst, that the amount allowed - b d.
Quoted 'or rental should mot IN any case b
a'!owed 70 excsed =: .OOV. For the iotufs,
Win the changes ABOVE recommended the
commission os''ese tnst the government
may sa'ely reiy on an annua! revenue from
this source o. about ebO. 000, 900.
Eom sAc'se ON ooe.s ana raarososs tne
emou o.t rec rece,vsd Tor the fiscal year, 1860.
- !e'o1S.!ov. end the commission =
saDe sne couection OF . similar amount nj
the Immediate future.
Inc Com0'ssaon recommend that the tai
= imposed on csuds petroleum 30 recalled,
ana tnst the rate on reoned coal Oil petro.
ieum, etc, % retained - ~ present that
tne TAX On sp'rits Of turpentine and rosin
should not Be wholly reunited, and that no
sho..,., y. 49,. " 'S'e's~ so""~''es
s.o1" - .''Ou'
seO.oOO'OoV :" - "sAIaAED IRON STAMPS
The commission are Of the opinion that
revenue Of at least $20, GOO, 600 may be
hereafter collected from stamps receipts Of
iegac'es and succession duties SHOULD yield
annually $5,OOO,OOO.
HIGHER RATE OF TAXATION FOB EXPRESS
COMPANIES.
The Commission recommend that the tax
on the gross receipts Of telegraph and
express companies be eoualixed. and ARE
inclined to the opinion that the tar ON
receipts of express companies might be well
advanced to higher figure than / per cent.
The Commission assume that the revenue
dervable from gross receipts for the fiscal
year ending June SOth. 1867. viii continue
Is at present. about a.. 600 600
The Commission feeommend that The
present Law imposing ! tar Of Is on everv
5000, or one-twen:ieth Of one per cent,
on the lar value Of all stocks sold, be
1epea.eu' anu IN "eu thereoi 2 TAX OF ~ on
sio,'oo' CT ono one hundredths OF one pei
cent on tue par value OF stock be substitu-
seo.
rHa PRESENT SYSTEM, WITH AxENDxENrs, ro
YIELD $435, 600, 900 ron 1867.
A recapitul alton of the various estim.ts,
Of receipts will make IN aggregate for m,
fiscal wear ending June 36th' IsS7 Of sa67
DOC. 900. ADDING the amonnt rsc.;ved f.
the fiscal wear 1855. from various direct And
indirect taxes on indnstrv vhich evcsnt-
ing smounts derived from exc;.e IN sn,r;,.
beer. tobacco. cotton. petroleum and n.vs
stores, tho committee estimate At abou,
468. OOO, 900. we have A. gross revenue nos
sible to be derived from al .ourcee unde,
the present rates. with tho amenlmcnt,
above proposed. H435. OoO. 900 Sett;.,e
aside $50. 600. 900 additional for tho rcduc
ton Of the principal of the public debt. ,
smrnl,,. ~,;li roma;n. .s.nr-;.r ~. ....ss.
ness Of the estimates Of The Committee a.
plicalle for 4 re1uction Of t.r.t;on oftss
OOO. 900. Tho Commission recommend th.,
the change be made slowly for the nresent.
to begin on July LIST. 1866. or sooner.
~ =. ,,-...
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