The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1898-04-23
THE REVENUE BILL.
How the Money Will Be Raised to
Carry on the War.
The Secretary OF the Treasury to BE Au-
thOrIzed TO Raise IA Loan OF S5OO,OOO.-
900 by Popular subscription
Articles That VIII Be Taxed.

WAsHINOTON, April 1.-THE repub-
lican members of the ways and means
committee of the house have practical
ly completed the preparation of the
revenue measure which will be passed
to raise revenues 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
bill that will raise between S1OO, OOO =
900 to S12O, 900, 900 additional revenue
per annum. The bill will pro-
vide for an additional tax of
81 per barrel upon beer from
which $50, 900, 900 will be raised. On
manufactured tobacco and snuff the
revenue tax will be increased from six
to IL cents. This is expected to raise
SIS. 900, 900 of revenue. The increase
on cigars and cigarettes has not been
absolutely fixed, but it probably will
be 81 on all classes. From this s., 000,-
900 is expected. The proposition
which the senate placed on the tariff
bill, but which went out in con-
ference, to tax all stocks and
transfers Of corporations is embodied
in the measure, together with practi-
cally all the scheme of internal reve-
nue. taxation of the act of 1856, which
includes a stamp tax on all checks,
drafts and all instruments of business
mortgages, loans and bonds; tax
on patent and proprietary medi-
cines and q tax on telegraph mes
sages and express packages is
also incorporated in the bill This
scheme of taxation is estimated to raise
$35. 900, 600. The tax on proprietary and
patent medicines will be two cents on
packages or bottles retailing at 25
cents or under, and four cents on those
retailing above that price. The tax
on telegraph messages will be one cent
on all messages which cost 25 cents or
less and two cents on all above
25 cents A duty of ten cents per
pound Is placed on tea and three cents
per pound upon coffee, with a counter
vailing internal revenue tax on stock
on hand. This latter will be in the
form of a tax on the sales of stock on
hand to avoid constitutional inhibi-
ton against a direct tax. From tea
and coffee, SIS, 900, 900 are estimated.
Bottled waters are to bear tax sim
liar to patent medicines.
For the pressing needs of the govern
ment the secretary Of the treasury is
given the general poweral to Issue GER
tifcates of Indebtedness payable in
one year and to bear not to exceed
three per cent. interest. The secretary
of the treasury is also authorized to bor-
row on the credit of the government by
popular subscription a loan of $500, OOO,-
900. This loan is to be placed through
the post offices of the country, the sub
treasures and government deposito-
ries In low rate bonds which are to be
sold at par. They are to bear three
per cent aud to be redeemable after
five years at the option of the govern
ment and to be due in 20 years. The
principal and interest are to be pay
able in coin. The measure will be
presented to the full committee proba-
bly, Monday and it will be brought
into the house as soon as the war resO-
lutions are signed by the president.