The times. [volume] (Richmond, Va.) 1890-1903, 1898-06-26
Substance Of the Provisions Which
are in Immediate Effect.
OTHERS TAKE EFFECT JULY FIRST
On That Datc Tax on Proprietary Med
icines. Legal Papers, Transactions
on Exchanges. Occupations.
tc., Become Operative.

revenue collectors carrying lhNo ch'et
the provisions Of the war revenue act
signed by the President yesterday. In
the internal revenue bureau the only
schedules which 90 into immediate Ell
feet are those relating TO tobacco Cigars
snuff, cigarettes and beer.
The entire war revenue law VIII not 90
into effect until July LIST. The tax on
legal papers. occupations, proprietary
medicines. etc. will not 80 into enect
until that date.
A circular was sent to-day 10 collec-
tors Of internal revenue stating that un-
IN new stamps could be provided they
could make use Of the old stamps, but
requiring them 10 imprint by use OF
rubber stencil. the words under the
act OF 1898"
The only sections OF the new bill which
relate 10 customs are those levying a
tax Of 70 cents a pound on all teas i'm
ported into this country. and the entry
tax on imported goods. This last pro-
vision. however does not go into opera
ton until July 1st next. Under this sec
ton the entry Of goods of any charcter,
either for consumption or warehousing
not exceeding 500 IN value. must pay a
tax Of % cents. Entries Of goods valued
AZ more than 500 and not In excess or
$500. 80 cents. All amounts in excess Of
$500 in value. 81. The tax on each en-
try for withdrawal from customs bond
I'd warehouses IS 30 cents.
Acting on the advice OF the solicitor
~ the Treasury. the ruling OF the de-
partrnent holding that the new tax on
tea went into effect al 3:05 2. NJ. yester-
day. the time the act was signed by the
president has been modified. Under
new ruling issued to-day. the tax OF 10
cents a pound will be levied upon teas
which reached The port OF first arrival
after Monday June 18th. at midnight
The following is a complete abstract
Of the new law:
500. 100000 OF BONDS
The Secretary Of the Treasury is au-
thorized TO borrow, on the credit Of the
United States from time 10 time. as the
proceeds may be required 70 defray eN-
penditures authorized on account OF the
existing war (such proceeds. when re-
ceived 20 be used only for the purpose
OF meeting such war expenditures the
sum OF S4oO 300 or so much thereof
az NAV be necessary. and to prepare and
issue therefor coupon or registered
bonds Of the United States in denomina-
lions Of 500 or some multiple OF that
sum. redeemahle in coin at the pleasure
81 the United States after ten years from
the date Of their issue. and payable
twenty years from such date. and bear
ing interest payable quarterly. In coin,
at the rate Of per cent. per annum
The bonds are 10 be first offered at
par as a popular loan.
CERTIFICATES OF INDEBTEDNESS
The Secretary of the Treasury IS au-
thorized 10 borrow from time 10 time.
at rate OF interest not exceeding 3 per
cent. such sums as. IN his Judgment.
nav be necessary 10 meet public eX-
penditures and 10 issue certificates Of
Indebtedness iu denominations Of $50 or
some multiple OF that sum: each certi-
ncato ia made payable AT such time. not
exceeding one wear from the date Of its
issue as the Secretary Of the Treasury
may prescribe: provided that the amount
Of such certificates outstanding shall II
no time exceed Sioo 10000.
COINAGE OF SILVER BULLION.
The Secretary Of the Treasury Is au-
thorized and directed TO coin into stand
ard silver dollars as rapidly as the pub
lic interests may require 20 an amount,
however. Of not less than H.Jeo0 In each
month. all OF the silver bullion now in
the Treasury purchased I'm accordance
with the provisions Of the act approved
July L. 1890 entitled AN act directing
the purchaee Of silver bullion and the
issue OF treasury notes thereon and for
other purposes" and said dollars. when
so coined. shall be used and applied in
the manner and for the purposes named
in said act
BEER AND ALE.
A tax Of 81 on al beer. arc porter and
other similar fermented liquors brewed
or manufactured and sold or stored in
warehouse. or removed for consumption
or sale. for every barrel containing not
more than 81 gallons: and az Ike rate
FOR any other quantity OF fractional
parts OF a barrel with a discount Of
- per cent on all sales by collectors
20 brewers OF the stamps provided for
the payment Of the tax.
The additional tax imposed i'm this
section on all fermented liquors stored
In warehouse, 10 which a stamp had been
affixed. shall be assessed and collected
IN the manner now provided by law for
-he collection of taxes not paid by
stamps"
TOBACCO. CIGARS. CIGARETTES.
In lieu OF the tax now imposed by law
a tax OF 70 cents per pound upon all
tobacco and SNUFF. however prepared.
manufactured or sold. or removed for
consumption or sale: upon cigars and
cigarettes manufactured and sold. or re
moved for consumption or sale the fol-
lowing taxes 20 be paid by the manu-
facturer. Three dollars and sixty cents
per thousand on cigars weighing more
than three pounds per thousand; 81 per
thousand on cigars weighing not more
than three pounds per thousand; Sco
per thousand on cigarettes Weighing
more than three pounds per thousand.
and 81 80 per thousand on cigarettes
weighing not more than three pounds
per thousand.
Provided that in lieu OF the two. three
and four-ounce packages OF tobacco and
snuf now authorized by law. there may
be packages thereof. containing one and
two-thirds ounces, two and one-haif
ouces and three and one-third ounces.
respectively. and IN addition 20 pack
ages now authorized by law there may
be nqckagae containing one ounce Of
smoking tobacco.
TAXATION or STOCK on HAND.
The provlso IN regard 70 the taxation
Of the stock on hand Is as follows:
There shall be assessed and collected,
upon an the articles enumerated IN TINS
section which were manufactured. I'M
ported and removed from factory or GUS
10 house before the passage Of this act
bearing stamps affixed 20 such articles
Tor the payment OF the taxes thereon.
and cancelled subsequent to April IA
1873 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 paid on such articles az
the time OF removal from the factory of
custom house, and the tax levied IN TINS
act upon such articles DEALERS having
on hand less than 1000 pounds Of manu-
fscturcd tobacco and 1900 cigars or
cigarettes on the day succeeding the date
OF the passage OF the bill are relieved
from the necessity OF making return,
and thus relieved from the necessity o;
paying the tax
DEALERS AND MANUFACTURERS
Dealers In leaf tobacco. whose annual
sales DO not exceed % 900 pounds each.