Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-06-23

-ve4 officials of the treasury depart
men, are busily engaged in the prep
--s.i,p of circular letters TO customs
an5 internal revenue collectors carry
- fnto effect the provisions of the
- revenue act signed by the presi-
- In the internal revenue bureau
+ns only schedules which go into i'm
r~a5iate effect are those relating to
robacco. cigars, snuff, cigarettes and
beer.
Tho entire war revenue law will
m. go into effect until July /. The
tay on legal papers, occupations, pro-
,~fa-ary medicines, etc, will not go
into effect until that date. A circular
has been sent to collectors of inter
nal revenue stating that until new
stamps could be provided they could
make use of the old stamps, but re-
npfring them to imprint, by use of a
rrbber stencil. the words under the
act Of 1898"
The only sections of the new bill
which relate to customs are those
Lowing a tax of 10 cents a pound on
su teas imported into this country,
and the entry tax on imported goods.
Tbi. last provision, however, does not
go into operation until July l next,
Under this section the entry of goods
of any character, either for consump-
tlon or warehousing, not exceeding
s1e0 in value, must pay a tax OF %
CENTS Entries of goods valued at
more than 500 and not in excess OF
$500. 50 cents. All amounts in excess
of $500 in value, 81. The tax on each
entry for withdrawal from customs
bonded warehouses is so cents.
Acting on the advice of the solicit
tor of the treasury, the ruling of the
department holding that the new tax
on tea went INTO effect at 3:05 p. m,
Yesterday the time the act was signed
by the president, has been modified,
Under a new ruling, issued today, the
tax Of 10 cents a pound will be levied
upon teas which reached the port of
frs. arrival after Monday, June Is,
al midnight. The following is a com
ple-e abstract of the new law:
S400,0OO,O00 of Bonds.
The secretary of the treasury is
authorized to borrow, on the credit
Of the United States, from time to
tine as the proceeds may be required
to iefray expenditures authorized on
account of the existing war (such
proceeds, when received, to be used
only for the purpose OF meeting such
war expenditures the sum of $500
600 100. or so much thereof as may
be necessary, and to prepare and issue
therefor coupon or registered bonds
of he United States in denominations
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
payable twenty years from such date,
and bearing interest, payable quar-
terry. in coin, at the rate of per
cent per annum
The bonds are to be first offered
at par as a popular loan.
Certificates of Indebtedness.
The secretary Of the treasury is
authorized to borrow from time to
time at a rate of interest not exceed
Ing 8 per cent, such sums as, in his
judgment, nay be necessary to meet
public expenditures and to issue GER
ttfcates of Indebtedness in denomi-
nations of $50 or some multiple OF
that sum; each certificate is made
payable at such time, not exceeding
one year from the date OF its issue,
ar the secretary of the treasury may
prescribe: provided that the amount
Of such certificates outstanding shall
ar no time exceed 800, 900, 900.
Silver Bullion.
The secretary of the treasury is
authorized and directed to coin into
standard silver dollars, as rapidly as
the public interests may require, to
AM amount. however, of not less than
$1,000 600 in each month, all of the
silver bullion now in the treasury
purchased in accordance with the
provisions Of the act approved July
- 1890 entitled can act directing the
purchase of silver bullion and the
issue Of treasury notes thereon and
for other purposes" and said dol
lars when so coined, shall be used
end applied in the manner and for the
purposes named in said act.
Beer and Ale.
tax Of 81 on all beer, ale, porter
and other similar fermented liquors
agawed or manufactured and sold
pr stored in warehouse. or removed
ar consumption or sale, for every
aa-reI containing not more than 81
gallons and at a like rate for any
other quantity or fractional parts OF
barrel, with a discount Of 7ia per
on all sales by collectors to
Eers Of the stamps provided for
.4e payment Of the tax.
he additional tax imposed in this
see len on all fermented liquors stored
warehouse to which stamp had
se1 affixed, shall be assessed and
@sed In the manner now provided