Prescott journal. [volume] (Prescott, Wis.) 1861-1871, 1870-08-04
The Tax-tariT Bill.

The tax tariff bill as it finally passed
both Houses, covers eighty printed pages.
The full text would not be found very en-
tertaining reading, and we accordingly
content ourselves with statement Of its
principal features. 1t aboishes all taxes
on gross receipts. legacies, SUGGESTIONS,
watches, carriages, gold and silver plate,
billiard tables, passports, salaries, banks
and bankers. 1t abolishes the whole sys-
tenn of special or license taxes, except
those on distillers and brewers, and all
taxes on sales, except those paid by
stamps, and except those on leaf and
manufactured tobacco, snuff. cigars, wines
and liquors. 1t also abolishes the stamp
tax on all receipts, transfers of mortgages,
notes for less than one hundred dollars,
and canned and preserved fish. Special
taxes do not cease till next May, taxes Oh
sales not till next October, and the others
that are abolished expire on the 1st Of
August.
The income tax is continued for two
years more at IL per cent, $4,000 and
actual house rent being exempt.
The tax on the salaries of Government
officials ceases the first of August, and
| the difference, to that date, between and
21 per cent, is to be deducted next
spring. In social or religious communi-
ties, five persons are to be counted as
family. The publication of income re
turns is positively prohibited. A2l2
per cent. tax is laid on dividends OF in-
corporated banks, trust companies, saw.
ings institutions. and al! insurance, rail
road, steamboat, canal, turnpike, slack
water, gas, coal, mining, bridge and man
ufacturing companies, whether payable to
citizens or non residents. Interest lowed
depositors in savings banks is not to be
called dividends. The consolidation of
collectorship and apprenticeship districts,
and the discharge of needless officers is
allowed to the President.
The present tariff rates will continue
to be collected till December LIST. The
most important of the new duties are
these: Tea, Is cents per pound; coffee,
8 cents; substitutes for coffee, 5 cents;
molasses. rs cents; sugar not above No.
7, 3 cents per pound; above No. Z,
9 cents per pound; above No. 10, 2 ga
cents: above No. Is, IA cents; and
on all refined, loaf, lump, crushed, pow
dered and granulated sugar, 4 cents per
/ pound; being on the average about rs
per cent. below present rates. Flax straw,
SIS per ton; impressed fax, $40; dressed
flax, $40; hemp, $25; jule butts, Sc;
cotton bagging, 2 cents per pound; pig
iron, 81 per ton; cast scrap iron, SO;
wrought scrap iron, 50; Bessemer steel,
S25; railroad bars made in part of steel,
$40; hair cloth for seating, 40 cents per
square yard when eighteen inches wide
80 cents when less than that width !;
crnoline cloth 80 per cent. al vaIorem;
hair pins, so per cent. ad vatorem; silk
buttons, dress ornaments, so per cent.
ad valorem; live stock, 20 per cent. ad
valorem; all animal, whale. seal and fish
oils, 20 per cent; linseed, 90 cents per
bushel; liuseed oil 80 cents per gallon;
rape seed oil, one-half cent per pound !;
cotton thread, yarn or warp in any form,
not wound upon spools, valued at not ex-
ceedng 40 cents per pound, 10 cents per
pound, and not exceeding so cents per
pound, 20 cents per:pound, valued at over
so cents per pound, and not exceeding 80
cents per pound, 80 cents: valued at over
so cents per pound, 40 cents per pound !;
and in addition to said rates of duty 90
per cent nd valorens. There is IN in
crease of duty on various spices. and new
classifications, with increased rates on
foreign wines and cordials of all kinds
The free list is greatly enlarged, and goes
through about as it originally came from
Schenck's committee some weeks ago.
Steam pillow machinery comes in free for
two years. Tonnage duties on vessels
owned by our citizens are abolished, as
are also duties on boats, barges and flats.
Two hundred and sixty girls are EN-.
ployed in the Government telegraph of.
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