The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-07-06
FOR BOUNTY.
Proposal to Encourage the Maku
ing of Beet Sugar.
AMENDMENT TO THE TARIFF BILL.

Salient Points of the Scheme The Stamp
Tax, Also Proposed as an Amendment
Bounty Plan Promises to indefinitely
Delay the Passage of the Measure-Dem-
ocrats Give Notice That There VIII lie
Long Talk Thereon.
! Washington July 6-Following are the
provisions Of the amendment to the tar
IF bill providing for a bounty on beet
sugar recommended by the senate
finance committee and introduced in the
senate: THAT on and after July 1, 1898,
and until July /, 1903, and no longer,
there shall be paid from any moneys in
the treasury not otherwise appropriated.
under the provisions Of section 3,6S9 Of
the revised statutes to the producer Of
sugar made from beets grown within the
United States during the calendar year
1898 and each succeeding calendar year
until July 1, 1903 bounty Of Il cent per
pound under such rules and regulations
as the commissioner of internal revenue,
with the APPROVAL Of the secretary Of the
treasury, shall prescribe.
Producer Must File Notice.
"The producer Of said sugar to be en-
tiled to said bounty shall have first filed
prior to July l Of each year with the
commissioner of internal revenue a no
tice Of the place of production with a
general description of the machinery and
methods to be employed by him, with an
estimate Of the amount Of sugar pro-
posed to be produced i'm the current or
next ensuing year and an application
for license to so produce, to be accom-
panied by abond i'm a penalty and with
sureties to he approved by the commis-
sioner Of internal revenue, conditioned
that he will faithfully observe all rules
and regulations that shall be prescribed
for such manufacture and production Of
sugar." He will then receive a license to
manufacture the product.
Proposal to Tax Bonds, Etc.
The amendment for a stamp tax on
stocks and bonds is very elaborate. Fol-
lowing is the text Of the portion fixing
rates: Bonds debentures or certificates
of indebtedness hereafter issued by any
association, company or corporation, on
each one hundred dollars of face value
or fraction thereof. 5 cents; and on each
original issue, whether on organization
or reorganization, of certificates of stock
by any such association, company or
corporation, on each one hundred dollars
of face value or fraction thereof, 8
cents; and on all transfers of shares or
certificates of stock i'm any association,
company or corporation, on each one
hundred dollars of face value or frac-
tion thereof, 2 cents"
Exemptions That Are Provided
Then follows a section exempting
building association stocks and bonds,
and also all government, state, county
or municipal bonds, etc, issued by those
political corporations "in the exercise
only Of functions strictly belonging to
them in their ordinary governmental
and municipal capacity" 1t is made un-
lawful to have recorded any instrument
In writing requiring a stamp without
one affixed, and no such instrument is
to be admitted as evidence in a court of
Justice. Counterfeiting stamps or dies
from which they are made, or in any
manner defraudng the government in
their use, is made punishable under
heavy penalties