The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1898-06-15

sales exceed 100000 pounds, S24;
manufacturers of cigars whose an
nual sales do not exceed 100. 600
cigars, Sc; manufacturers whose
sales exceed 100, 200 and not 200 900,
$12; manufacturers whose sales ex
ceed 100000 cigars, S24 Any per-
son who carries on the business for
which special taxes are imposed by
this act, without having paid the sps
cial tax is made guilty of misde.
meanor, the penalty being fine OF
from 800 to $500 or imprisonment
for not. more than six months, or
both.
It is provided that until appropri.
ate stamps are prepared and furnish
ed, the stamps heretofore used to de
note the payment of the internal rev.
enue tax on fermented liquors, to-
bacco, snuff, cigars and cigarettes
may be imprinted with a suitable de-
vice to denote the new rate of tax
and shall be affixed to all packages
containing such articles on which the
tax inposed'by this act is paid.
BONDS.
''The secretary of the treasury is
authorized to borrow on the credit of
the United States from time to time
as the proceeds may be required to
defray expenditures authorized on
account of the existing war (such
proceeds when received<to be used
only for the purpore of meeting such
wa expenditures this sum of $780,
900, 900 or 80 much thereof as may
be necessary, and to prepare and
Issue therefor, coupon or registered
bonds of the United States, in de-
nominations of $40 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 payable 20 years from such
date and bearing interest payable
quarterly in coin at the rate of 8 pes
cent. per annum. The bonds are to
be first offered at par as popular
loan. The conference added the
following proviso That apyjportion
of any issue of said bonds not snb-
scribed for as above provided may be
disposed of by the Ssecretary of the
treasury at not less than par, under
snch regulations as may prescribe
but no commissions shall be allowed
or paid thereon; and q sura not ex.
ceeding one.tenth Of one per cent of
the amount of the bonds and certifi-
Gates herein authorized is hereby ap
propriated out of any money in the
treasury not otherwise appropriated,
to pay the expense of preparing,
advertising and issuing the same. I"
COINAGE OF SILVER BULLION.
Following is the provision in regard
to the coinage Of silver bullion:
The secretary Of the treasury 80 au-
thorized and directed to coin into stan
dard silver dollars as rapidly as the
public interest may require. to an
amount, however, Of not less than one
and one halls millions of dollars each
month, all of the silver bullion DOW in
the treasury purchased iD accordance
With provisions of the act spp:oved
July Ia, 1890. entitled .'ao act direct
ing the purchase Of silver bullion and
the issue Of treasury notes thereon. and
for other purposes" 4" aud said dollars.
when 90 coined, shall be used aud ap-
piled 10 q msnoer for the purposes
named in said act
TEA.
There shsll be levied, collected aud
paid upon tea when imported from for.
eien countries duty Of ten cents per
pound.
The changes regarding tea makes the
duty operative with an act instead Of
July Let ss it passed the senate.
The house accepts these senate pro-
visions: Allowing rebate of 7 IL per
cent. on the sale of stamps for ferment-
ed liquor. instead Of Eve per cent. as
provided by the house, imposing special
taxes, etc., with an amendment strik-
ing out Insurance agents aud also max
ing the tax as to theatres apply only to
cities exceeding $4,000 population
The provision relating to stamp taxes
90 life insurance policies but reduced to
eight cepts for each hundred dollsrs o!
insurance to be paid only once at the
inception of the policy ; and a CORES
poodiog reduction ou weekly payment
insurance
The proprietary medicine and per-
fumery amendments of the senate With
a reduction of the tax on about ooe
third The senate amendment provid-
ing that stamps may be affixed on