The record-union., 1898-04-17
10 RAISE THE
SINEWS OF WAR.
Preparation of Revenue Measure
Practically Completed.
VIII Be Submitted to Congress When Gu,
ban Resolution Is Signed.
The Bill as Prepared Will Raise
Over a Hundred Million Dollars
Annually, and Also Provides for
Issuance Of Popular Loan of
Five Hundred Million Dollars.

WASHINGTON, April 16-The Re
publican members of the Ways and
Means Committee of the House have
practically completed the preparation
of the revenue measure which will be
passed to raise revenue sufficient to
prosecute the war.
The members propose that the present
generation shall bear the burdens of
the war, and, proceeding upon that
theory, they have prepared a bill that
will raise between 800, 100000 and
$120,O00,0 600 additional revenue per an
mum. The bill will provide for an ad-
ditional tax of 81 per barrel upon beer,
from which S30,O00,000 will be raised.
On manufactured tobacco and snuff the
internal revenue tax will be increased
from l to cents. This is expected to
raise S15,OO0,O0O of revenue. The in
crease on cigars and cigarettes has not
been absolutely finished, but it probably
will be 81 on all classes. From this
$5000000 is expected.
The proposition which the Senate
placed on the tariff bill, but which
went out in conference, to tax all stocks
and transfers of corporations, is en-
bodied in the measure, together with
revenue taxation of the Act of 1866,
which includes a stamp tax on all
checks. drafts and all instruments of
business mortgages, loans and bonds),
a tax on patnet and proprietary medi-
cines, and a tax on telegraph messages
and express packages is also incorpor-
ated in the bill This scheme of taxa
ton is estimated to raise $50, 100000.
70
medicines will be 2 cents on packages
or bottles retailing at % cents or UNI
der, and cents on those retailing
above that price.
The tax on telegraph messages will be
/ cent on all messages which cost 70
cents. and 2 cents on all messages that
cost more than 20 cents.
A duty of 10 cents per pound is placed
on tea and cents per pound upon
coffee. with countervailing internal
revenue tax on stock on hand This
latter will be in the form of tax on
sales of stocks on hand to avoid con-
stitutional inhibition against direct
tax. From tea and coffee 81, 100000
are estimated.
Bottled waters are to bear tax SIM
liar to patent medicines.
For the pressing needs of the Gov
eminent the Secretary of the Treasury
is given the general power to issue GER
tifcates of Indebtedness payable in one
year and to bear not to exceed pei
cent. interest.
The Secretary Of the Treasury is also
authorized to borrow on the credit OF
the Government by popular subscrip-
ton a loan of $500, 100000. This loan
is to be placed through the Postoffices
of the country, the sub-treasuries ano
Government repositories in low rate
bonds, which are to be sold at par
They are to bear 3 per cent. interest
and to be redeemable after five years
at the option of the Government and
to be due in twenty years. The princI-
pal and interest are to be payable IL
coin.
The measure will be presented to the
full committee probably Monday, ano
it will be brought into the House as
soon as the war resolutions are signed
by the President.