The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1898-06-29


From the 10-cents-a-p pound tax OF
tea, the Government expects to realiz,
about s20,00O,00O annually in the
country New York's share Of this
based on the importations Of pas,
years, will be about s.. 900, 600. There
will be no tax on tea imported before
July l, of course, and by that time
importers hope to get in some 10000,
600 pounds. This, however, will
only be about one-fifth Of the amount
usually imported each year. The i'm.
porters and retailers will never stand
the tax themselves. Tea will simply
jump up 10 cents pound after July
the 1st, and the public will have tc
pay that much more for it or 90 with.
out.
Stamps will have to be affixed to all
papers relating to real estate trausac-
tions-conveyances. deeds, leases,
agreements. or contracts, mortgages,
trust deeds and powers of attorney.
Real estate men in this city, who are
familiar with the revenue bill, are
wondering what the effect of the SEQ
tion which imposes tax of so cents
per $500 or fraction thereof on deeds
and conveyances where the considera-
tion or value exceeds 800 is going to
be. For years it has been the prcctice
to insert nominal considerations, gen
orally 81, in deeds, the object being to
keep secret the amount of money in
volved in transaction. Hereafter q
nominal consideration mentioned in q
deed will not release the parties inter
ested from stamping the deed at the
rate Of SO cents for every $500 Of value
of the property involved over 910O,
which will, Of course reveal the real
consideration.
From real estate transactions in this
city the Government will probably
derive about half million dollars an
nually. The revenue from the country
from this item Of the bill will prob
ably be between s15, 600, 900 and $2O,-
100000.
A very large part Of the war tax
will come out of Wall Street. The
tax Of 2 cents on each 800 of stock
and bond sales is heavy one, but
the brokers are not kicking. Bust
ness on the Stock Exchange has
averaged 100000 shares day lately,
and if it continues at that rate this
daily assessment will be $4,000. On
the total sales Of stock last year the
revenue "ould have been a million
and half dollars, and there is no
reason to believe that it will be any
less than shat aftsE the. revenue bill
gets in working order. The figures of
the Consolidated Exchange last year
would bring It's revenue up to within
S20G, 900 of the Stock Exchange
assessment. The Produce and Cot
ton Exchanges are let off with tax Of
l cent for 800. This would bring
the formers contribution to the war
fund to about $4,000, and the lat
ter's to about $50, 1000 year.
About the biggest item downtown.
however, will be the tax on bank
checks. In 1871 the revenue from
shis source wss $2,318,455 in the
country. The tax ON bank checks in
this city alone will probably run up to
50 5000, 900 year under the war reve-
nue. law. From the bank capital tax,
the tax on foreign bills of exchange.
the tax on the capital stock and funded
debt Of ali corporations and from her
taxes in the financial centre, is
estimated that 81 900, 900 a year will
be realized. Altogether Wall Street
will contribute something like $13,-
G00, 600 year to the war fund.
The tax of cent on telephone mes
sages costing more than Is cents is
put on pay messages, of which there
were 5000, 900 sentin this city last
year. The telegraph companies have
planned to get even on the. tax on
messages by compelling senders to put
onc-cent stamp on all messages.
The telephone companies are casting
around for some means of making the
public share the added expense, but
they haven't devised any scheme
yet.
The tax on tobacco has been raised
to IL cents o pound. Some dealers
have decided to keep up the size OF
the packages and increase the price
Others have concluded that it will be
! q better game to let the price stay
where it is. aud make the packages
smaller. The cigar:tax is not heavy
0ue, aud che only difference 1t vii
make will be chat you wont get al
pnrd q ,hs0Sr fnr tho rv;na a Ny, ~ oor