The news & observer., 1898-06-10
They Submit the War Reve-
nue. Bill to the Senate,
THE TOBACCO SCHEDULE
RETROACTIVE COMPROMISE IA.
NORS SMALL DEALERS.
THOSE WHOM THE LAW ExEMPTS
Bonds to be ssued--To be First offered at par
as Popular Loan Coinage of Silver
BuIIion--Tax on Tea.

Washington, June 9.-Thc confcrecs
| on the War Revenue bill concluded theirI
work at noon to-day, and the report was
! submitted to the House this afternoon.
/ 1t provides that the act shall take effect
on the day succeeding the date of itsi
! passage, except as otherwise specially
provided for.
! The tobacco schedule is as follows:
| In lieu Of the tax now imposed by law,
I a tax of II cents per pound on all tobac-
co and snuff, however, prepared, manu-
! facturCd and sold or removed for con
sumption or sale; upon cigars and cigar
cites manufactured and sold, or removed
/ for consumption or sale, the following
! taxes to be paid by the manufacturers,
$3.50 per thousand on cigars weighing
more than 3 pounds, per thousand; $3.50
per thousand on cigars weighing not
more than pounds. per thousand $500
on cigarettes weighing more than "
pounds, per thousand. and $50 per thou
/ sand on cigarettes weighing not more
| than pounds, per thousand provided
| that in lieu of two or three ounce pack
! ages of tobacco and snuff now authorized
by law, there may be packages thereof
| containing one and two-thirds ounces,
| two and one-half ounces, one and one
third ounces, respectively, and III addl-
tion to packages now authorized by law,
there may be packages containing one
ounce of smoking tobacco.
The compromise proviso in regard TO
the taxation of the stock on hand. is as
follows; There shall be assessed and
collected with the exceptions hereafter,
and this action provided for upon all the
articles enumerated in this section which
were manufactured imported and re-
moved from the factory or custom house
before the passage of this act bearing
stamps affixed to such articles for the
payment Of the taxes thereon, and can
celled subsequently to April H. 1898.
and which articles were at the time
Of the passage of this act held and in
tended for same by any person.. tax
! equal to one-half the difference between
the tax already OH such articles at the
!. time of removal from the factory or
/ custom house. and the tax levied IN
| this act upon such articles. Dealers
, having on hand less than 1000 pounds
| of manufactured tobacco and 10000
cigars or cigarettes on the day succeed
ing the date of the passage Of the bill,
are relieved from the necessity of making
returns. and thus relieved from the ne
cessity of paying the tax.
For the expenses connected with the
assessment and collection Of the tobac-
co taxes, there is appropriated one hun
dred thousand dollars.
The commissioners of internal revenue
is authorized to employ internal revenue
agents. in addition to the number now
authorized
Dealers in leaf tobacco whose annual
sales do not exceed $4,000 pounds each,
So: those whose annual sales exceed 90
600 aud not 100000 pounds, S12, and
if their annual sales exceed 100000
| pounds. $24 Dealers in other
tobacco annual sales exceed 90
900 pounds, $12 Those selling
EXEMPT FROM TAX.
Those selling their own products at
the place of manufacture are exempted
from this tax. Manufacturers of tobac-
60. whose annual sales do not exceed 80
900 pounds, S6. Manufacturers whose
sales exceed 10000 and not 100000
pounds $12. Manufacturers whose sales
exceed 100000 pounds S24. Manufac-
turers of cigars whose annual sales do
not exceed 100000 cigars, Sc. Manufac-
turcrs whose sales exceed 100000 and
not 100000 cigars, S12. Manufacturers
whose sales exceed 100000 cigars. $24.
ANY person who carries on the business
for which special taxes are imposed by
this act without having paid the special
tax is made guilty of misdemeanor,
the penalty being a fine of from 500
A. N-n0 tV11n rnr
than six months or both 1t is provided
that until appropriate stamps are pre-
pared and furnished, the stamps hereto
fore used to denote the payment of the
| internal revenue tax on fermented Ii
uuors. tobacco snuff, cigars and cigar
cites may be imprinted with IA suitable
device to denote the new rate of tax
and shall he affixed to all packages con
| taining such articles on which the tax
imposed by this act is pald.
THE ISSUING OF BONDS.
The Secretary of the Treasury is au-
| tborized to borrow on the credit of the
Unified States from time to time as the
proceeds may he required to defray eX
nonditures authorized on account of the
existing war, such proceeds when re-
cpiyed to be used only for the purpose of
meeting SNNll wal CAlNHNlANINHs Jilt sum
/ of S400,000.000 or so much thereof as
NAV he necessary and to prepare and
| issue therefor. coupon or registered
bonds of the United States in denomina |
tions of $50 or some multiple of that
sum redeemable in coin at the pleasure
Of the United States after ten years
from the date of their issue. and paya
! ble 20 years from such date and bear
ing interest payable quarterly in coin
/ nt the rate of 3 per cent ner annum.
The bonds are to be first offered at par
rs popular loan.
The conference added the following
nroviso: THAT any portion of any issue
Of said bonds not subscribed for as
above provided may be disposed of by
The Secretary of Treasury at not less
than par under such regulations as he
NAV prescribe but no commissions shall
no allowed to be paid thereon. and sum
not exceeding one-tenth Of one per cent
nf The amount Of the bonds and certif- /
~ boroin authoriZed Is barol,x.. ,,,,,,,.-