National Republican. (Washington City (D.C.)) 1872-1888, 1875-02-11
CURRENT CAPITAL TOPICS.


tcOnffSGss from First PSgs.)
fiing The same With the Secretary 81 the Int
rieg.;
The ninth section provides that when ten or
more consecutive miles OF the road or branch ct
either OF both ends Of the line shall have been
completed, the President Of the United states
shall sppoint three commissioners, 70 be paid
by the company, 70 inspect the part Of the
road completed and report Its condition TO the
Secretary Of the Interior.
The tenth section authorizes and requires the
Secretary Of the Treasury, upon the certificate Of
the Secretary Of the Interior that said part Of
the road has been constructed in conformity with
the provisions Of this act, and upon the applies
guarantee OF the United states for the payment
Of the interest on the frst mortgage Eold.bOudS
Section eleven provides for the establlshnsnt OF
two divisions OF The road one extending four hun
dred mileI westward from itI commencement OPP
posite the District Of Columbia, TO be known rs
the Mountain division, and the other the residue
Of seven hundred miles, including the Chicago
that the United States shall guarantee interest
BY Endorsement at the rate OF seventeen thousand
nye hundred dollars for each mile q said noun.
mile Of western division.
The twelfth section directs that the bonds In.
dorsed shallnot exceed the sum above mentioned
per mile for the section completed, and that o
similar Endorsement shall be made for every 500.
tion Of ten miles completed, and II the last sec
tion should be less than ten mileE an Endorsement
yIded above.
Section thirteen provides that for the first year
after the completion Of the road and branch, the
said company shall not charge more than nine
mills per ton per mile as freight on grain from St.
Louis or Chicago to tide;water at or near Wash:
ingtOn or RichmOndi and that said charge shall
be reduced one half mill per ton per mile until II
shall have been reduced to seven and one half
mills per ton per mile.
The fourteenth section provides that one year
after the completion OF the road the company
shall pay one per cent. on the amount Of the In
dorsed bonds to the United StateG and shall make
q similar payment annually until the bonds are
due, when the whole amount paid shall be applied
to the payment Of the principal Of the bonds Of
company shall have paid all the interest then
due on the bonds Endorsed by the United States,
but all the money paid shall be forfeited TO the
United States upon failure for more than sixty
days to pay the interest due on the bonds SO
guaranteed by the United States, and upon such
default the Secretary Of the Treasury shall take
possession of the road and dispose of it as shall
best subserye the Interests Of all parties.
The fifteenth section provides that the said
road shall be commenced within six months and
completed within three years after the passage of
this act, with all its appurtenances, equal in all
respects to the furniture OF iTstclass narrow
uniform gauge of three feet be adopted through
out the entire length OF tho road. II provides
also, that the rails be made of the pest American
steel or iron, and that telegraph line be erected
The sixteenth section directs the corporation to
conform to the laws Of the States through which
the road may pass in relation to railroad cross
Section seventeen provides that the said rail-
road shall not be constructed through the District
OF Columbia until its route shall nave been sur
veyed and approved by Congress.
Section eighteen grants the consent of the
United States to the construction of a double
track bridge across the Ohio river, with the pro-
vision that the bridge be constructed according
to the laws governing bridges over said river and
that the plans, &C., be first approved by the Sec
Section nineteen gives Congress the authority
to regulate the rates Of travel and transportation
over said road.
The Eew Tax Bill.
The following is the text of the new revenue
bill as reported to the House from the Committee
on Ways and Means yesterday:
A BILL to further protect the sinking fund and
to provide for the exigencies Of the Govern
meRt.
Be it enacted, &C., That from and after the date
OF the passage OF this act there shall be levied and
collected on all distilled spirits on which the tax
prescribed by law shall not have been patti and
whether the sGd spirits shall then be in disilIery
bonded warehouse or not, a tax of one dollar on
each proof gallon or wine gallon; when below
having possession thereof, before removal from
the dtstillery, bonded warehouse, and so much Of
section 3251 or the revised statutes Of the United
states as is inconsistent herewith is hereby re-
pealed: Provided, That IN addition to the tax of
seventy cents per gallon, imposed by law now ex-
istiDg, there shall be levied and collected tax OF
fifteen cents, being one half the increase OF tax
under this act, on each and every proof gallon
OF wine gallon when below proof, or domestic dis
titled spirits, manufactured and placed in bonded
prior to the day when this act shall
take effect and held in bonded warehouse at shat
time; and on all such spirits then held by distil-
lers, rectihers or wholesale dealers, having in
their possession or under their control distilled
spirits in stamped packages; and any person who
shall sell, transfer or otherwise dispose Of such
distilled spirits, after this act takes effect until
an additional stamp-to be especially provided
for this purpose by the Commissioner OF Internal
payment Of the additional
purchased and attached to the package Or back.
lges containing the same in such manner as the
Commissioner Of Internal Revenue shall prescribe,
shall be subject to and pay penalty Of one dol
lar for each and ever gallon so removed; aud the
spirits removed shall be forfeited to the United
States: And prorided further, That on all bran
1y, gin, rum, and on all compounds and prepara-
lions Of which distilled spirits is q component part
of chief value, EN- bracing all forms OF distilled
splrlts imported rom foreign countries on which
The duty, as hXed in the revised statutes, Is two
dollars per gallon, the duty hereafter to be
levied, collected paid shall be two dollars and
1fty cents per proof gallon.
Sec. 2. That section 336s Of the revised statutes
be and the same is hereby amended by striking
out the words twenty cents per pound" and In
serting, in lieu thereof the words ''twenty-four
cents per pound; provided that the increase of tax
herein provided fer shall not apply to tobacco on
which the tax under existing law shall have been
paid when this act takes effect"
Sec. 3. That so much of section g. I37 rs imposes
! stamp tax on friction matches, lucifer matches
u ether articles made in part Of wood, and used
or like purposes, be, and the same is hereby re.
1ealed TO take effect on and after the LIST day OF
July, 1875.
Sec. 4. That on all molasses mot including tank
bottoms strip Of sugar cane juice, meIadO or con-
,entrated meladO), and on sugars, according to
he Dutch standard in color, Imported from for
ign countries, there shall be levied, collected
ind paid, in addition 10 the duties now imposed
n schedule &C" section 5O4 Of the revised stat
Iutes, an amount equal to % per cent Of saIi du-
les as levied upon the several grades therein des-
gnated.
Sec. 5. That so much OF section 25O3 Of the re-
Used statutes as provides that only 90 per eontum
Il the several duties and rates Of duty imposed on
eTtain articles therein enumerated, by section
,tOI shall be levied, collected and paid, be- and
he same is hereby, repealed, and the several d.
les and rates OF duty prescribed in said section
54 shall be and remain as by that section levied
Without abatement Of ten per centum as provided |
n section 1908.
Sec. 9. That the increase Of duties provided by !
his act shall not apply TO any goods, wares, or |
actually on shipbOaTd and bound to |
be United States on the 10Th day of February, |
SIS, nor on any such goods, wares, or. merchan- |
ise on deposit in warehouses or public stores at
lie date OF the passage Of this act.