, 1870-06-08
WEDNESDAY, JUNE 8, 1870.
THE NEW TAX LAW.

THE NEW TAX LAW.
The House of Representatives has passed
the bill amending the internal revenue and
tariff laws. The most material changes in
the Internal revenue are as follows;
The income ta1 is reduced from to
per cent, and the exemption advanced from
81 COO to $1,000. The allowance for house
rent is limited to $500.
The ta1 on sales is unchanged Contracts
for the delivery of gold are to pay a tax of
one-twentieth OF per cent Foreign COM
mercial brokers, where sales do not exceed
100000, are taxed f1,o0o- Claim agents
$40. Wholesale liquor dealers are to pay
500, and $40 for every $1,000 Of sales IN
excess OF S25, ,0O0-
Savings bank deposits are generally ex-
empted from taxation.
Distillers of spirits from apples, peaches,
and grapes of ten barrels and less, to pay
$40, and 81 for every barrel in excess Of
ten.
Faro banks and other gaming tables to
pay s., 900 for each table.
Taye1us whose annual routal l. 3oos ttzsu
Slu,, >za to be exempt from special tax
The gross receipts from places of a.nase-
ment, in buildings owned or leased, and
where amusements are permanent, are to
be taxed psr cent instead Of 3 as nov.
A discount II 10 per cent is 10 be allowed
on proprietary stamps when issued in sums
of $500.
The most important changes IN the duties
on imports are as follows:
The duty on tea isreduced from a5 cents
to Is cents per pound; on coffee, from
cents to cents per pound; Cocoa, cents
instead cf s; coeoa, ground, 5 cents instead
of 9; cocoa leaves, cent instead Of 2;
chocolate, cents
On sugars, the whole classification has
been changed, and comparison with pre-
yions rates IS hardly possible. The new
law imposes duty Of 2 cents per pound on
all raw or muscovado sugar, and on clarified
sugar = cents per pound. On refined
sugar, stove dried, IN loaf, lump, crushed,
powdered, OF granulated, cents. The bill
provides TINT I'll sugar, other than refined
e'oNC'sAAS0s 0tteA1 by AAy RAcSoSSs Au
matter how primitive, has been advanced
from the raw state, shall be regarded IS
clarified, and pay Fl cents. This confines
the reduction Of duty from to 2 cents per
pound to the sugars which are unfit for use
without further refining in this coun-
Try, and the reduction Of the ta1 on
such sugars as are fit for present
use is only from 3 to e cents. The
duty on sugars shove No. II, and not oyer
No. Is, is advanced from 81 to I cents.
The changes, while they Will materially re-
duce the revenue, viii not lessen the ta1
on consumers, because the reduction is
confined to raw sugar, which has to be ze-
fined before used and the law tzsnsfers
to refners the one cent per pound, hereto
fore received by the government.
On cane molasses, the duty is reduced
from cents to 5 cents per gallon on
tank bottoms, concentrated molasses, &C.,
from q to II cents per pound This ar
tcle is chiefly imported by refners for the
sugar it contains, and the reduction Is one
of revenue and not Of tax.
On pinento, and red, white, and black
peppers, the duty is fixed at cents, instead
Of Is cents, per pound; same, ground, 10
cents instead of is cents; ginger, 2 instead
Of 5 cents; same, ground, $ cents instead of
S; cinnamon, 20 instead Of 80 cents; nut
80 ,f 1o oent.. c,ovas 3nstaaa of ~.
So - r.. e.e..a ;nata.d - On ,aat,.
ss..s. ~ ;a-.a.5 - On .o,,ts. n, otber
sa;aaa as ~ no- 81 centa. same ,,onnd ao
ep1' 40 ' - ~
,r:.os ~ III t;nas n .,sls IN cants
a., ~ [s,,an ;ns+asa - fror, o5 cents
r. I 81 ~ ..1,on .na >. ~ csnt oadi-
r. 49, 1,.+t1,a 5o-en
.saI .a..,a. ass =. ,,.a.,ort;o, for ,4ha~
s!-a. @ ~ rha,,,,s..e. - . ~ athar snarl1;no
a;nas - ~ ,,o.,,es ac nar dozs, ansrtsp =
~' - ' 81 ~ .,;-;,,
-, IL, 5,.+a.d ~ ~ cor.
49, aaa ,4.,ar s,;r;tnons bevar.
~ 80 ..,1a. ~ ;~e+a,5 ~ ~ 70
oss, -, ~ p@. 'a.sHssat,-as | so1d bv tha sona.e
,-oss. 1n,;1aached + cents ner souare ward !:
f,1aached : cents Der square Fa1d, and 10
aa~ .e,+ nj rolore,n : If cnlorat1 or n,inted.
: cents nc~ souare Yard. and 20 per cent
nd drolorem but duties in no case to be less
49,, ~ -sr rent nd rolorem. This is an
ereraoa redrct;on of cent per yarl on
h,e,chea md nnbleached But the min;m-
nm rute vii, nearly cover all the reductions
NJ, the cheaner pooas
T1o dntr an roo1s md voollen goods is
,,ncba,oeJ e4cent tn mako wool on the
skin naV The samo duty ns other wools .
1s.s ~ Sr nov ION Fla,
..Iaar,aa - ~ son ,,e- Inn ;nstead Of s15
- a. sao ~ I'm instead of s15
qea.,,s7as Ilease4 a "a hamn e4o ner ton IN
-. "a taan +o,r s1f
s'eat 49, -, e.. ;nstoad - ~ ~ 81 Jnte s;sal r1ass
"a "a a.ha- 49, - -aoa,eh1a fhree a15 ner ion in
s,sod of - inta bntts. $40 per ton. in
.4oaa of - Thosa dn+;as ara Il, rrotec.;va
nr5 not rerenne.
P;o ;nn ~ ner ton -instead Of 50 SOFA,
;-on sc nc1 ton. instead OF So,
s,as, ra;1uav fars. II cents Der pound, q
eee IN ,er inn hars made in pa.t of steel
~ ,a,.s ,,e- nonnd or 500 per ton. Bcsse
IL ~ :. c,assad as steel. This j
N~.,1 =, q tox of - per cent. the presan
80. ~ NV oa,t
r. ... o.,,,d inu.a,d of I:
-, -. ao ~ ,ant instead of II, ne
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