The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-04-17
plan for Providing the "Sinews of
War" Practically Agreed On by the
Ways and Means Committee.
INTERNAL REVENUE TAXES
TO BE INCREASED BETWEEN $780,
900, 600 AND S12O,OoO, 900 A YEAR.
Beer, Tobacco, Stocks, Checks, Patent
Medicines, Etc., to Be Assessed
Bonds Also to BE Issued.

WASHINGTON, April 16.-The Republic
an members of the ways and means COM
mittee of the House have practically COM
pleted the preparation of the revenue meas
ure which will be passed to raise revenue
sufficient to prosecute the war. The mem
bers propose that the present generation
shall bear the burdens of the war, and, pro-
ceeding on that theory, they have prepared
a bill that will raise between $4,000 900 and
$120 900, 600 additional revenue per annum.
The bill will provide for an additional tax
of 81 barrel on beer, from which $50 100000
will be raised. On manufactured tobacco
and snuff the internal-revenue tax will be
increased from to II cents. This is eX-
pected to raise $15,0O0,OO0 of revenue. The
increase on cigars and cigarettes has not
been absolutely fixed, but it probably will
be 81 on all classes. From this 100000 is
expected. The proposition which the Sen
ate placed on the tariff bill, but which went
out in conference to tax all stocks and
transfers of corporations, is embodied in
the measure, together with practically all
the scheme of internal-revenue taxation of
the act of 1866 which includes a stamp tax
alton on all checks, drafts; mortgages, loans
and bonds. A tax on patent and proprie-
tary medicines and tax on telegraph mes
6ages and express packages IS also moor
porated i'll the bill This scheme of taxa
tom is estimated to raise $35, 000,Oc0
The tax on proprietary and patent medi-
cines will be cents on packages or bot
ties retailing at rs cents or under and
cents on those retailing above that price
The tax on telegraph messages will be
cent on all messages which cost % cents or
less, and cents on all above % cents. A
duty of 10 cents per pound is placed upon
leather and cents per pound coffee,
with countervailing internal revenue tax
on stock on hand. This latter will be in the
form of a tax on the sales of stocks on
hand to avoid the constitutional inhibition
against direct tax. From leather and cof-
fee $2S,000,O00 are expected Bottled waters
are to bear tax similar to patent medi-
cines.
For the pressing needs of the government
the secretary of the treasury is given the
general power to issue certificates of in
debtedness, payable in one year, and to
bear not to exceed per cent. interest. The
secretary of the treasury is also authorized
to borrow on the credit OF the government,
by popular subscription, loan of $500 900,
600. This loan is to be placed through the
poStoffices of the country. the SubtreasurieS
and government repositories in low-rate
bonds, which are to be sold at par. They are
to bear per cent. interest and to be re-
deemable after five Years. at the option of
the government, and to be due in twenty
years. The principal and interest are to be
payable in coin. The measure will be pre-
scented to the full committee probably on
Monday, and it will be brought into the
House as soon as the war resolutions are
signed by the President.