The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1898-06-10
WAR REVENUE BILL
OUT OF CONFERENCE AND IN
THE HOUSE
vERYPROMPTLYPASSFD
AND Is NOW READY FOR ACTION
BY THE SENATE
MANY COMPR0MIsESAREM MADE
In Spite of Change the Bill Practically
Taxes All Things Men Eat or
Have or Do
vERYPROMPT
AND Is NOW READY FOR ACTION
BY THE SENATE
MANY COMPROMISES ARE MADE
Associated Press Special Wire

Associated Press Special Wire
WASHINGTON, June 9.-The conference
report on the War Revenue bill was sub
mitted to the House this afternoon. It Is
as follows:
The House accepts these Senate proyis-
ions:
Allowing rebate of ~ cents on the sale of
fermented liquors instead of s cents. as
provided by the House; imposing special
taxes, etc., with an amendment striking out
insurance agents and also making the tax
as to theaters apply to cities exceeding 25.-
900 population only.
The amendment striking out the House
provision imposing a special tax on retail.
tobacco dealers. The provisions relating
to the stamp taxes on life insurance poll
cies, but reduced to cents for each hum
dred dollars of insurance to be paid only
once at the issuance of the policy; and a
corresponding reduction on weekly pay
ment insurance.
The proprietary medicine and perfumery
amendments of the Senate with a reduce
ton of the tax of about one-third The
Senate amendments providing that stamns
may be affixed on medicinal articles held in
stock as when such articles are sold bv the
retailer. The Senate amendments imposine
an excise tax of one-fourth of l per cent
on corporations refining sugar or petro-
leum, measured by their gross receipts ex-
ceeclng $2oJ,0OO and also the Senate amend
ment imposing stamp tax of cent on the
sale OF each sleeping and paror car ticket
soid by the company issuing the same and
also the Senate legacy and inheritance tax.
The House recedes from its tonnage tax
provision.
n ANA
of 10 cents per pound on imported tea, with
an amendment providing that the duty shall
take effect on the passage of the act The
Senate amendment relating to mixed -four.
with substitute embodying the bill on the
same subject as reported by the Committee
on Ways and Means.
The Senate recedes from its coinage of the
silver seigniorage amendment and a SUBJ
stitute is agreed to simply authorizing and
directing the coinage of not less than one
and one half millions of silver dollars per
month from the silver bullion held in the
treasury; such silver dollars to be applied
as provided by the act of July IA, 1890
The Senate accepts these House provi-
sions:
Placing the increased tax on fermented
liquors stored in warehouses. The certifi-
cate of indebtedness and loan provisions of
the House with reduction of the amount
of bonds authorized to four hundred mil
lions.
The House accepts the Senate rates on
cigars and cigarettes and the Senate ac-
cepts the House proposition imposing an adj
ditional tax on stock on hand, but reducing
the tax on such stocks one-half and except
ing from its operations stocks not exceed
ing 1000 pounds of tobacco, 20 900 cigars and
cigarettes. The House accepts the Senate
amendment imposing a stamp tax on all
speculative sales on stock and produce eX-
changes.
The Senate accepts the House exemption
of receipts from stamp taxes.
The Senate recedes from its amendment
imposing stamp taxes on articles sold under
trade mark or any name or designa ton
not open to general use.
The provision for the silver bullion is as
follows:
Coinage of Silver Bullion-That the Sec
rotary of the Treasury is hereby authorized
and directed to coin into standard silver
dollars as rapidly as the public interests
may require, to an amount, however, of not
less than one and one-half million dollars
a month of silver bullion now in the Treas
ury purchased in accordance with the pro-
FSioHS VI tHe ACT dppIONeu July ~ 1o9U,
entitled, IAN act directing the purchase of
silver bullion and the issue of treasury
notes thereon, and for other purposes and
said dollars, when SO coined shall be used
when applied in the manner and for the
purpose named in said act.
The following provision has been added
to the bond provision
Provided further, that any portion of any
of cot har NOD fo,
above provided. may be disposed of by the
Secretary of the Treasury at not less than
par, and under such regulations as he may
prescribe, but no commissions shall be al
lowed or paid thereon, and a sum not ex-
ceeding one-tenth of one per centum of
the amount of the bonds and certificates
herein authorized is hereby appropriated
out of any money In the treasury not other
wise appropriated to the expense of pre-
pairing advertising and issuing the same.
Section provides that If any person or
persons shall make, sign or issue any instru-
ment or paper of any description without
its being stamped he shall be guilty of
misdemeanor, the penalty being $780, at the
discretion of the court.
Section provides a penalty of fine not
exceeding $1,000 or Imprisonment for a term
not exceeding five years, or both, for coun-
terfeiting the stamps, and the penalty is
made to apply to all persons having any
connection with the counterfeitng.
Promoters of proprietary articles are
given the privilege of furnishing their own
dies or designs for stamps. 1t is made
misdemeanor by section 10 to evade the pro-
visions of the stamp law, punishable by a
fine not exceeding 5000.
Other sections following relate to the adj
ministration of the law. Section 10 exempts
government. state, county and municipal
bonds from the operation of the law and also
the stocks and bonds issued by cooperative
building and loan associations whose capt.
tai stock does not exceed $4,000, and build
ing and loan associations or companies that
make loans only to their shareholders.
Section IS provides for a tax stamp on tel
egraph messages and eXempts messages of
officers and employees of the government on
official business and also the messages of
telegraph and railroad companies over their
own lines.
Uncompounded medicines or those having
been put up and sold at retail as prescrip-