The Union and journal., 1870-05-20

The Reduction Of taxation proposed by Mr.
Schenck's bill introduced in the House recent
ly is explained in detail in his speech:
lie said there was now on the general calcn.
dar In Committee Of the Whole bill reported
in March last to modify aud reluce into one all
the tax laws. From present appearances and
from the condition Of the business II was not
probable that the bill could be disposed Of In its
entire fulness this session. The Committee on
Ways and Means had therefore come to the con-
clusion to divide the matter Of that large bill
ON internal taxation into three bills, and ask
successfully the action Of the House upon them.
The committee proposed in the first place to
modify, and to a great extent, repeal all the in
ternal taxation laws Of the country, with the
exception Of the taxation on fcrmented liquors,
tobacco and cigars. Then the committee would
report a bill relating to those articles end then
would report bill relating to the organization
OF the Internal Revenue Department. The bill
which he now ofiered was the first Of these. IL
repealed all taxes on legacies and successiOns
which last year produced S2,i3i, ,593; all taxes
ON the gross receipts Of railroads and insurance
companies and other corporations and kinds OF
business. with the exception Of lotteries. thea
tres and places Of public amusement, Nc; the
whole Of such taxes produced last year SS ,i1f,-
30, and the reduction now proposed was esti-
mated at sc, 6,l09.6l7; and all the tax on sales
was taken of except that assessed on dealers in
liquors. which would make further reduction
Of SS, 1877. .7Si. II repealed all special taxes on
retail and wholesale dealers except dealers in
liquors, distilers, manufacturers OF tobacco
and cigars, dealers in tobacco and leaf tobacco,
banks and bankers, foreign commercial brokers
foreign insurance agents, p,tent rights dealers,
pawn brokers, proprietors OF public amusements
and of gift enterprises, jugglers, proprietors oi
bowling alleys qnd billiard rooms, lottery man.
ayers, and dealers in lottery tickets. II reduced
the special tax ON keepers OF hotels, inns aud
taverns to so, If not exceeding the rental val
NC Of $500, and adding So for each 500 for
rental beyond $500; the reduction thus made
would amount to sS.744,752 II modified the
income tax 80 as TO increase the exemption tC
$500, leaving the per cent. the same as now,
8 per cent This would effect reduction OF
S5,57l ,l05. IL changed the law in Its effect on
incomes so that persons having less than Sl5OC
income shall not be required TO make returns,
and there shall be no publication Of incomes,
II repealed section A, taxing carriages, watches,
SC. II repealed the tax on gas, the grinding oi
coffee and spices, and on the sales Of manufac'
turers. The total amount Of the reduction:
proposed Is s33,96G,7I6. 1t imposes tax on
foreign commercial brokers, those who come tC
this country and sell by samples. II also pro-
posed to abolish stamps on ordinary contracts
aud ON railroad receipts. The Committee on
Ways and Means was glad TO DO able to oileI
this bin TO the House and the country, and fell
perfectly safe in proposing these reductions. In
hp ,unyrl that tine hill he Drintc,l anJ
recommitted to the Committee ON Ways and
Means. with authority to report Il at any time
He stated that the bill would be reported within
4 week. rs he desired to get an early action OF
IL; and the motion was agreed TO.