Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-06-14
THE WAR TAXES.

Our var With Spain viii h brough;
home 10 nearly everybody By the United
states revenue bin. which stands most
excellent prospect OF becoming law in
me course Of a few days. Under IL some
,uternal-revenue taxes will Be raised and
many new ones viii be laid. Further
more. most Of the money that will thus
become due 10 the government viii be
collected By means q stamp taxes.
such as were used for a part Of The time
q, the civil war and for good many
years afterwards
The proposed law goes into effect on
1,rv LIST. and il viii require most extra
ordinary diligence upon the part OF the
government 10 have the necessary stamps
ready By that time. Not 70 have them
ready on that day would Be 10 paralyze
some branches OF business almost
There are many good but slow-going old
fellows who will be very much surprised
when tisese stamp taxes go into eject
and they will wonder why the newspa-
ms have not published anything on the
subisct." Because they carelessly read
and easily forgot these things, they mag
tne thar the public journals have failed
tn their duty 70 the public. For the oenr-
~ OF these dear old souls, the Dispatch
hare and now reiterates that the war
taxes will 20 into effect on July lsi' that
they will reach almost every man and
woman in the community. and will cause
the prices OF some commodities 10 rise
and thar they viii have 20 be paid, ire
gardless' Of whether the payer helped 20
bring on the war with Spain or not
How long these taxes will be continued,
we know not: but Ee guess they Will sur
vfve the present conflict number OF
years. Indeed, as II is clear that the
United states will have 10 maintain &
much larger navy and army than here
to.ore We should not wonder II some Of
these taxes outlived the present genera
1on.
Foremost among the stamp taxes, BE-
cause it win be oftenest before the eyes
Of the pubic, will be that on bank checks.
The tax On beer is 81 a barrel. il viii
he g under the rev law. Prom the 10
. cents-a-pound tax on tea the government
expects 70 realize about s14"eooo annu-
ally.
Stamps viii have 10 be sffNed 70 all
papers relating to real estate transae-
sions-conveyances deeds, leases. agree
ments. or contracts. mortgages. trus'
deeds. and powers Of attorney. \ nominal
consideration mentioned in a deed viii no
release the parties interested from stamp
ing the deed az the rate Of % cents fol
every SO q value OF the property in
VOWED over aoo. which viii, OF course, re
veal the real consideration.
The revenue from this Item Of the BIZ
viii probably be between sis.eo.eco ana
s2oom.so.
A very large part OF the war tax vii
come out o. Wall street and its patrons
TIE tax Is . cents on each 500 o. stocE
and bond sales
The tax on bank checks IN New Yori
alore tas We learn from the New YofE
sum viii probably nun up 10 x.ooo.eeo q
year under the war-TeveRue Law. From
The bank capital tax. the tax on foreign
bills OF exchange. the tax on the capita
stock and funded debt OF all corporations
ard from other taxes in the fiaaneia
eeatre. II Is estimated that 10000 a yea
viii be realized. Altogether. Wall stree
will contribute something Ike $l3.eaoo
year TO the war fund, the sun SAYS.
The telegraph companies have planns'
20 get even on the Tax on messages b,
compelling senders 10 put i-ceat ssami
"a zn messages
The tax on tobacco has been raised L
u cents pound.
Tbs cigarette tax is 81 thousand. ant
tie p1bAc VII either have 10 pay cents
Cor s-esnt box az ten cigarettes. or tak'
box with fewer cigarettes az the old
price. There arc over S.oo.0coooo olga
reites made annually In this country. am
NO wsr revenue on them VIII DC aeou
100000
The tax On insurance pclscies. on steam
ship tickets, OF express companies. %