Daily Texarkana Democrat., 1893-12-16
INHERITANCE TAX BILL.
Text of Senator Hills Great Rove
nue. Measure, By Taxing
Inheritance.

written concerning the proposed
measure, by New York's Senator, Mr..
Hill, through winch the Government
is to find an easy and never failing
source of revenue, by means of a
Federal tax, not upon incomes, but
Inheritance. The bill, which must 90
through the House before the Senate
can consider it, has at last been COM
pleted and given to the public at
Washington, through the columns of
the Daily Press. The measure is des-
ignated a collateral inheritance or
success tax bill and its main provis-
ions are as follows:
Section l. After the passage of
this act all property, real and personal,
whatsoever, which shall pass by will
or by the estimate laws ofany state or
territory from any person who shall
die seized or possessed of the same, or
any interest therein or income there
from, which shall be transferred by
by deed, grant, bargain, sale or gift
made or intended to take effect in
possession or enjoyment after the
death of the grantor or bargainer to
any person or persons or to any body
polite or corporate, in trust or other
wise, or by reason whereof any per-
son or body polite or corporate shall
become benefcially entitled in pos
session or expectancy to any proper
ty or to the income thereof (where
the whole of such property shall ex-
ceed the sum of $4,000 in fair market
value) shall be and hereby is subject
to tax or duty, to be paid to the
United States as follows, that is to
say:
!. Where the person or persons en-
titled to any personal property, in
come or beneficial interest therein
shall be the lineal issue or llncal an
cestor to the person who died, seized
or possessed of such property, as
aforesaid, at the rate Of 81 for each
and every 800 of the clear market
value of such personal property or in
terest therein, providing that real es-
tate passing to the persons referred to
in this subdivision shall be exempt
from taxation under this act
2. Where the person or persons ell
titled to property, real or personal, or
to any beneficial interest therein shall
be the brother or sister of the person
who died, seized or possessed, rs
aforesaid, or descendant of such
brother or sister, at the rate of So for
every 500 of the clear market value
of such property or interest.
3. Where the person or persons en-
titled to any real or personal proper
ty or to any beneficial interest therein
shall be a brother or sister to the faith
er or mother, or descendant Of a broth
er or sister of the father or mother OF
the person who died seized or poss-
essed, as aforesaid, at the rate Of 81,
for each and every 500 Of the clear
market value Of such property or in-
terest.
4. Where the person or persons en-
titled to an real or personal property
or to any beneficial interest therein
shall be brother or sister to The
grandfather or grandmother ora de-
scendant of brother or sister of the
grandmother or grandfather of the
person who died, seized or possessed
as aforesaid, at the rate Of 50 for cac
aud every 800 ofthe clear market val
ue of such property of interest
5. Where the person or persons en-
titled to any property, real or person
al. or to any beneficial interest therein
shall be in any other degree of colIat
eral consangunity than is hereinbe
fore stated, or shall be stranger II
blood to the person who died, seizeC
or possessed, as aforesaid. or shall bt
body polite or corporate, at the ra''
of $40 for each and every $10O Of th'
clear market value of such propert!
or interest.
Provided, that all property, real ol
personal, of any interest therein, pass
inc by will, or by the laws OF an!
state or territory or by deed, grant
bargain and sale, or other conveyance
to husband or wife, Of the person WHIT
died, seized or possessed, as aforesaid
shall be exempt from tax or duty, un
less such duty shall exceed the ceal
market value OF $50,000, in whlcl
case the excess only over and abov
that sum shall be liable to taxation a
the rate of 81 for each and every $lO'
of the clear market value of such ex
cess.
There is all additional and fua
provision which declares chat inherl
tanees of minor children, to tn