Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1898-05-13

WASHINGTON, May l3.-The senate
committee on finance has concluded its
consideration of the war revenue bill
after two weeks sitting and Senator
Allison reported it to the senate. Notice
was given that il will be taken up for
consideration Monday. The bill shows
that all the provisions in the house bill
for the issuance of bonds and certificates
of Indebtedness were stricken out, and
Mr. Allison, in reporting the measure,
made minority report giving authority
for the bond issue.
An amendment, inserted at the in
stance of the Democrats, provides for
the issuance of $3.50, 100000 in green
backs.
There is also provision for the coin
age of the silver seigniorage.
The provision inserted at the instance
of the Democratic members of the COM
mittee and which has during the CON
sideration of the bill been known as the
corporation tax is much broader in it's
scope than this description would lead
one to believe. The first paragraph of
this provision is as follows:
EVERY person, firm, company, or
corporation owning or possessing or
A6bf Liz bllC 10 VI u d1l9
railroad, street railroad, sleeping car,
canal steamboat, ship, barge, canal
boat, or other vessel, or any stage coach
or other vehicle, except hacks or car
riages not running on continuous routes.
engaged or employed in the business of
transporting passengers or freight for
hire, or i'll transporting the mails of the
United States, shall be subject to and
pay special annual excise tax equiva-
lent to one-fourth of one percentum of
the gross receipts"
A like tax of one-fourth of / per cent
of the gross receipts is imposed ON 'any
person, firm, company or corporation,
carrying on or doing an express bust
ness also on any person, etc., downing
or possessing or having the care or man
agement of any Geographic or telephone
hne;' also on life, fire, machine or acct
dent insurance or companies for the
security and assurance of employers
against losses by employees, all of which
are to pay ON the basis of premiums and
assessments collected and the duties &C
cruing, like taxes to be paid by foreign
companies doing business in the United
States; also on persons, etc, furnishing
gas or electric light, electric power,
steam heat, steam power, refining sugar
or refinining petroleum. Then follows
the provision Ter tax on corporations,
giving the exemptions, which are as
follows:
That every corporation doing business
in the United States, whether chartered
under the laws of the United States or
any state or territory of the United
States, or any foreign country. shall pay
a special annual excise tax, and said tax
shall be the equivalent of one-fourth of
l per centum of the whole amount of
the gross receipts of such corporations
derived from such business.
Religious societies, lodges that pay
benefits, educational benevolent and
cemetery corporations, municipal or
other public corporations, or building
and loan associations that loan to mem
bers alone are exempted.
Another paragraph in this portion of
the bill imposes an excise tax on banks.
Persons effected by these provisions
are required to make monthly returns.
Evasions of payment for ten days are
punished by the addition OF 10 per cent
and for attempts at knowing evasions a
penalty of 81 900 is provided.
Taking up the bill at the beginn .s
the more important amendments are as
follows:
Stored beer, ale, etc., are exempted
from the operations of the act; the dis
count on the beer tax is increased from
to ~ per cent, for the house provision
for stamps on beer, etc., simpler one
is substituted
A license is imposed on bankers.
There are great many changes in
the tobacco schedule. The tax on manu-
featured tobacco, snuff, etc., is in
creased from IL to 16 cents per pound;
the tax on cigars weighing more than
three pounds per 900 is reduced from
"a to $3.50 per 1000; on small cigars,
from 81 to ST. on cigarettes. from 81 to
81. 80 per 1000.
The penalty for violation of section
4, relating to adhesive stamps, is in
creased so as to make the offense mis-
demeanor, punishable by fine of
$500 or imprisonment for a year, or
both. Failure TO cancel stamps is also