, 1870-05-19
CUTTING DOWN THE TAXES.
An Abstract Of the Bfll Reported by
General Schencks

General Schcncks
WAsnNeTos, May 16.-The following is an
abstract Of the bill to reduce internal taxes,
and for other purposes, reported By General
schenck to-day. It contains forty-rix SECTIONS
Under the class OF special taxes bankers OF
banks with capital not exceeding $4,000 arc
required to pay 4 ta1 Of 800; when the capi-
tai is in excess Of ESQ, 900, g additional for
every thousand dollars.
Savings banks arc exempted from this tax.
An additional ta1 Of one tWenty-fourth OF one
per centum per month is imposed upon the
average amount Of deposits, other than public
moneys Of the United StAtes; and 4 tax OF
oue-fo1tth Of one per centum each month on
the average amount Of public moneys in their
possession, and ta1 OF one twenty-fourth Of
one per centum on their capital, and ta1 Of
oue-twelfth per cent per month On their circu-
lAtion; provided that this section ahal not
apply to associations which are taxed under
the act Ito provide for = national currency He-
cured by pledge Of United States bonds, and
70 provide for the circulation and redemption
thereof
Every national banking associatian, or other
corporation engaged in banking, is further re-
quired to pay a tax Of 10 Per centum on the
amount Of notes used for circulation snd paid
out by them.
Brokers, banks, and bankers are taxed
cents upon each hundred dollars, aud On sa1es
OF stock, bonds, gold and notes or other Sc
cu1ities, and on sales made without the pay
lQeuL VI ep&EldA Lax aH uIOEE1y Q4Ik, OF Q80G-
er, cents for every hundred do1ara-
Foreign commercial brokers pay = special
tax Of fve thousand dollars when their Bales
do not exceed one million dollars. and five
dollars Tor each additional Thousand dollars.
Foreign insurance agents arc taxed ESQ
each.
Claim agents pay 40 when the receipts do
not exceed 81 ,O00, and $40 for each additional
$1,000 Patent right dealers pay 80 Pawn
brokers, whose capital employed does not e1-
ceed s5oooo, paJ ESQ, and for each 3, 900
estimated yearly rental q! !tho Proparty, Is fol
lows: When the yearly rental is ;s5o6 or less,
a10, and 39 Tor each additional 81, 600 rental
Places Of public amusement are taxed. for
irst-claEs, 1900 each; second-class, 420 each
Rooms Or balls occasionally hired Or used for
concerts, balls, or exhibitions, are rated as
aecond-clasa. Any permanently locsted build
ing used for any exhibition, performance.
shoW, OF entertainment, to which an admission
is charged, to pay tax Of 3per cent on the
gross receipts.
School exhibitions, readings, lectures, art
exhibitions (not moved abont), agricultural
and horticultural fairs, and exhibitions for be-
nevolent or religious purposes, are exempted
Bowling alleys and billiard rooms pay S20 for
each alley or table lottery manager 5000;
dealers IN lottery tickets, 500. Lottery mad
@HVAo AAA A1VoA0AD Q1{ I'LL LII tl . RGT
cent On their gross receipts. GIFT enter
priRea are taxed $500. Diatilleries producing
twenty-five or less barrels OF distilled spirits
per annum are taxed 500, and q for each
barrel in excess Of twenty-five. -Four dollars
are assessed upon each b1rre1 which may be
IN a bonded warehouse, to be paid when with
drawn. Rectife1s OF distilled spirits recnfy-
ing OF compounding less than 200 barrels per
Annum pay $500, and so cents for each barrel
in excess Of 200. Retail liquor dealers, whose
T. rk .
pay a25; over 81, 500 and not exceeding s5, 900,
e50; over Is, 900 and not exceeding 10000.
500; over SIC, 900 and not exceeding 100000,
5000; II exceeding $4,000, $1,000. Whole
sale liquor dealers for g, 600 or less, $50, and
$25 for each 81 eco sales in e1cess Of g, 900;
Manufacturers Of stills pay taz Of ESQ. and
$50 for each still or worm made by them
Brewers are taxed 800. Dealers in leaf to-
bacco, whose annual sales do not exceed 310,-
000, are taxed s25; il their Gales exceed s1O,-
000, a2 for each additional 81 ,000-
Dealers in tobacco whose sales do BOT az
ceed 81, 600 pay IS, and s2 for each additional
81, ,G00- Manufacturers Of tobacco p1y each
S10, and 81 for each 81 900 in excess OF IS, 600
Of their penal bond. Manufacturers of cigars
whose sales do not exceed IS, 600 each pay Sl0,
and 81 for each q, GOO in excess Of 5000:
The sum Of IS is levied for e1ch passport
Issued from the office Of the Secretary OF State
or By any Minister OF Consul OF the United
States. Several Of the sections relate TO Sup
plying stamps and against counterfsiting.
Schedule 3 provides: Bank checks, drafts,
draft or order, for the payment Of any sum Of
money not exceeding 800, canta bill Of e1-
change, foreign, or letter Of credit, cents,
and for every additional 800 or fractional
part, cents, bill Of 1sding or receipt, 10
cents bill Of Ea1e, 50 cents; exceeding $500 and
every additional amount Of $500, Or fractional
part thereof, 50 cents where the penal aum
exceeds 81 600, or fractional pert, 50 cents
bond for the due execution or performance OF
the duties OF any Office, 81 bond OF 1nY de-
scnption other than such aa msybe required in
stock, 25 cents; certificates Of profits, 10 cents
exceeding $500, Is cents for every additional
81 200, Is cents other certificates, as cents.
Certificate OF deposit not exceeding 500, /
cents exceeding $500, cents. Charter, con
tract, q agreement OF vessel not exceeding $50
ing 500 tons, 20; exceeding 500 and not e.
ceedinE GOO tons, IS exceeding 600 tons, Sl0;
bro6ers note or memorandum OF sAle, "
eents- Conveyance, so cants when @ the con-
sldeIataon exceeds $500 and not sl,ooo, 80
and Tor every additional $500, 5o eenla 1 x
cents exceeding a100 and not exceeding Saoo
in value, 50 cents exceeding $500, 81 Other
changes are made in the schedule
Medicine and preparations IN seheoo1e
and an t ever1 sdditionI ] Is cents or fractional
nsrt thereof. cent. PelfuueT apd cosmat-
ia I ys1ued At Is cents, cent; snd tor every
additional IS cents, or fractional part ! cent
FRICTION matches, one hundred Or less, cent;
arcy additional hundred, i cent. WAI tapets,
b Iohts or less, I cent Playing cards,
Thnt there shan be levied and collected an
nually 4 ta1 Of per centum upou the guins,
profits and income Of every paIson residing u
{he United States, and Of 'eyery citizen Of the