The record-union., 1898-06-28
The WAR TAXES ARE HERE,
"RECORD-UNION' SYNOPSIS OF
THE NEW LAW.
A General idea of How Uncle Sam
Will Raise Hundreds of
Millions.

and industrial life, compared Win tile
Federal law which has so long serv ed
in times of peace that a synopsis or
its main provisions is timely.
The Record Union presents the fol-
lowing main points of the law, which
was passed on June 9th and which viii
go into effect on July lst:
On all beer, ale, porter and otner Ter
mented liquors, where tax OF 81 is
now paid tax of 81 shall be collected.
| Bankers employing capital not ex-
ceeding $4,000 shall pay tax or SoU;
when employing capital exceeding the
sum named there shall be an addition
! al tax of So on each additional thou
sand dollars. Savings banks that DO
not do a commercial business are eX-
empt from this tax.
Every broker of stocks, bonds, bull
ion, promissory notes and securities
must paw a tax Of $50. Pawnbrokers
shall pay $50; commercial brokers shall
pay $40; custom brokers shall pay $40;
proprietors Of theaters, museums and
concert halls in cities having more than
25,O00 population shall pay 500; the
proprietors of circuses pay the same
sum: proprietors or agents of all other
public exhibitions shall pay $40; the
|
lard halls shall pay S. for each table
or alley.
The tobacco, cigar and cigarette laws
are wholly changed. In lieu of the tax
now levied there is a tax of II cents a
pound upon all tobacco and snuff, how
ever prepared, and upon cigars and
cigarettes. A tax of $3.50 per thou
sand is charged on all cigars weighing
| Thousand.
and of 81 per thousand on all cigars
weighing not more than three pounds
per thousand The tax on cigarettes
not weighing more than three pounds
per thousand is also $3.50 per thou
sand, while that on cigarettes that
weigh under three pounds per thou
sand is $1.5O per thousand.
The law in detail, as affecting the
manufacturers of and dealers in to-
bacco covers several closely printed
pages of the Congressional reports. The
main provisions affect dealers accord
| ing to the amounts of their annual
sales. The first section provides that
dealers whose annual sales do not ex-
ceed $4,000 pounds shall pay S6, While
| those whose sales run from 10000 to
| 1OO,O 600 pounds shall pay So, and so
on, up to $24 Dealers will be obliged
| to refer to the law in detail and to
study it's provisions to fully understand
how it affects them, while the minute
details are wearisome to the public,
and are therefore omitted
| On and after the 1st of July there will
be levied a number of taxes new to
| the public, taxes on institutions and
pursuits that did not exist in the days
| Of the civil war, all of which will re-
| suit in the raising of a sum of hum
| dreds of millions to meet the greatly
increased expenses Of the war.
| The innovations occur chiefly in what
| are designated as the stamp taxes,
| which are, in substance, the follow
| ing:
| On bonds, debentures and certificates
of indebtedness, cents on each S10O Of
the face value thereof; and the same
tax is levied on all memoranda or con-
tracts for the sale of certificates OF
stock In such, corporations as deal In
bonds and debentures. Upon all agree
ments to sell any products of merchan-
disc at any exchange or Board OF
Trade, either for present or future de-
livery a tax of 1 cent shall be levied
for each S1OO in value of said agree
ment. Upon all bank checks, drafts,
certificates of deposit not drawing in
terest. and on orders for the payment
| of any sum of money at sight or de-
mand, cents.
/ Inland bills Of exchange, drafts, GER
tificates of deposit drawing interest,
or orders for the payment of sums OF
money, drawn by trust companies and
banks. persons and companies are taxed
a 2-cent stamp for each, provided that
it does not exceed 100, and = cents for
each additional 500 or fraction there
Of Foreign bills of exchange, letters
Of credit. etc, pay double the foregoing
| amounts if drawn in sets, If they ara
drawn singly or otherwise than in a
set of three Other details follow, af-
fecting the bills according to the way
they are drawn.
Bills of lading or receipts for any
goods exported from the United states
to a foreign country must each bear
1O-cent stamp. Every railroad and ex-
press company, or person engaged IN
shipping goods must place 1-cent rev.
enue stamp on each receipt or bill OF
lading given to the consignor or ship
per.
Every telephone company must pay a
tax of / cent for every message trans
mitted at a cost of 15 cents or more.
On every bond Of security or indemn-
ity given by any corporation or person
for the payment of money or the per-
formance of any service there. is tax
Of 80 cents.
On every certificate Of profit issued to
show any persons profits in any busi-
ness there is tax of 2 cents.
Certificates of damage, and all certi-
ficates issued by port wardens and Ina
rine surveyors, bear a tax of 20 cents
All other certificates required by law,
and not specified in the Act, 10 cents
Charter parties bear tax of from -
to SO. according to the tonnage of the
vessel Manifests of custom-house en-
try for clearance are taxed from Si
to So.
Deeds and other conveyances of lands
are taxed so cents for each $500 OF
value.
A tax of / cent is applied to all dis
patches sent by telegraph companies.
Entries of goods at custom houses for
consumption or warehousing from 70
| cents to 81, according to the value OF
the goodsN A tax of so cents is levied
for the withdrawal of goods from Gus
toms bonded warehouses.
Life insurance companies are assessed
3 cents on each 500 of insurance ac-
| cepted and issued. There are many
details in this law.
Marine and fire insurance policies are
taxed one-half of i per cent. on the
low o;,,y,, No. ~