Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-06-13
The War Revenue Bill.

The confereeS OF the House anu
Senate were unusually prompt in then
work unon the war revenue bill. The
compromise bill has been quickly
nassed by both branches, a few Demo
Gratis in each body joining the Republic
cans in voting for ii, and sent to the
President for his signature. The act is
ia take effect on July /, the beginning
of the fiscal year. It's enforcement viii
he an ominous reminder to all classes
that we are paying for war The bill
aims at new revenue largely Through
Increased internal revenue taxes on
beer and tobacco in various forms, on
inhcritances and special branches OF
business like banking and amusement.
The principal features of the Dill are:
meet war expenses; the coinage Of al!
the silver in the treasury at the rate OF
81 500. 900 a month: tax of 81 barrel
on all beers increased taxes on tobac-
co. cigars and cigarettes; a duty of 10
cents pound on tea The bill provides
for special taxes on banks, bankers and
brokers, on insurance agents, on pro-
prietors of places of amusement, on
bowling alleys and billiard rooms, on
dealers in and manufacturers Of tobac-
co and cigars, in addition to the tax on
products Stamp taxes that will not be
are put upon bonds, stock
certificates, on medicinal proprietary
articles, on bank checks, bills of eX-
change, on bills of lading, on telegraph
and telephone messages, on indemnity
bonds, on custom house entries. on
policies of life. marine. inland and fire
insurance: on casualty, fidelity and
guarantee Insurance, on leases for
houses and lands, on custom house
on clearances, on mortgages,
on passage tickets TO foreign ports: on
proxies, powers of attorney and pro-
tests of notes or bills. on receipts for
money for more than s. and on ware
house receipts, on perfumery, cosmetics
and chewing gum; on packages of
newspapers. on wines, on tickets for
seats in palace or parlor cars AMI
berths in sleeping cars. There is a
special tax on manufacturers of mixed
flour and on their products, and a
graduated tax on legacies. and 4
special excise tax on persons, firms
ana corporations engaged IN
refining petroleum and sugar.
There has been compromise both on
the coinage Of The seiSnloraSe and on
the issue of bonds. This coinage Of
silver in the treasury is a matter of no
great Importance. but the silver men
had to get something out of the needs
Of the nation in order to prove their
influence. According to the bill as ii
passed the Senate, the silver was to b.
coined at the rate Of $1,000, 900 PEI.
month but the confcrees cut down the
monthly amount to 81 100000 The
matter is of no great Importance, the
amount Of silver TO be coined being
relatively small. There was COM
promise, also, on the issue Of bonds
The House provided for an issue Of
$500 oo0 goo of bonds, which was reduced
by the Senate to $500 600, 600. The con-
ferces have fixed the amount a 500, :
000, 900, which Will be sufficient for
present purposes and can he Increased
hereafter, if necessary. by additional
legislation. Besides the bond issue
provision is made for an issue Of
certificates of Indebtedness at rat" If
interest not exceeding . per centum,
but the amount outstanding at on"
time is not to exceed 500 900, 900. and 1t
least $50. 900 600 of certificates are 10 be
issued before there is any issue II
bonds. In the conference the House
has receded from its provision for in
creased tonnage taxes on foreign ship
ping, and the Senate's insistencc upon
this has been the best feature of its
contribution to the general result
Such a policy would have brought US
in a comparatively insignificant amount
of revenue, while it would have been Il
large piece of folly from diplomatic
point Of View. Particulars Of the $i0o. =
100000 bond issue are not yet an
nounced. Il is estimated that the tax
alton feature of the bin will raise
$l75,ooo,o0o annually, and it Will be
mainly collected by the present inter-
nal revenue agencies.
The genial DR.. DepeW is in France at
the present time, AID in his urbane
manner is endeavoring to surpass even
French p0litcness. He told a reporter