The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-06-21
WAR TARIFF TAXES
A Summary Of the New Rev
enue Bill.
THE NEW SCHEDULES.
AND THE ARTICLES TAXED IN
DER THEM.
A SWEEPING WAR MEASURE
That Taxes Everything in Sight Except The
Great Trusts and Combines--1hey
are About The Only Ones
Favored.
THE NEW SCHEDULES
SWEEPING WAR MEASURE
faycred.

entitled An act TO provide ways are
means to meet war expenditures and
for other purposes
SUMMARY OF THE NEW TANES.
The changes Of most interest to our
people are noted below:
We have heretofore printed some OF
the more important changes and we prin.
herewith a well prepared summary Of
the entire bill. Some Of the clauses an,
schedules Of most Importance to our
readers are as follows:
Under special taxes are included
banks. bankers. brokers, showmen. the
aters and theatrical proprietors, Banks
Banks with less than $4,000 are tax
cd $50. and for every additional thou-
sand dollars of capital stock, including
surplus fund, Il tax Of 500 per thou
sand.
Persons, firms or corporations doing a
banking business are included except
saving banks having 10 capital stock
and only receiving money for investment
for the benefit Of the dcpositor.
All stock brokers arc taxed 5000.
Pawn brokers pay $4,000.
All commercial brokers Offering goods.
ware or merchandise. are Ia. pay $1,000.
Custom House brokers $1,000.
All proprietOrs of thnatcrs. museums
or concert halls, in cities with over %
600 population, 500.
All circus proprietors 500 each for
each State III which exhibitions are held.
All other shows or public exhibitions
for money, so.
BoWling alleys or billiard rooms. 81 90
for each alley or table.
Section three of the act provides for
the additional tax III tobacco. cigars,
cigarettes and snuff. q synopsis of which
we have already printer.
Leaf tobacco dealers handling undcr
10000 pounds are to pay 5000; over
10000 and under 100000 pounds. ST.:
and over 10000 pounds. S24.
All dealers III manufactured tobacco.
Snuffs. or cigars. whose sales exceed
oo.ooo per annnm. S12.0b.
All tobacco or cigar manufacturers are
to pay a special tax. under this act. of
5000, If sales are under 30. q mounds
of tobacco or 1OO.OOO cigars. $1,000 if
over 10000 and under 10000 pounds of
tobacco, or over 100000 II under 200
900 cigars and Sol 90 if annual sales are
III excess Of 100000 pounds of tobacco or
200. o cigars.
Any person convicted of violating this
act. REFUSING, countcrfciting or in any
such manner attempting to defraud the
government must pay u fine of not OK
coedmg Sl.OO0 or be imprisoned not ex-
ceeding five years.
In addition To these changes the taxes
embraced i'll schedules \ and r.. are tho
most important. We cmbodv the moro
important items iii schedule A..
STAMP TANES.
bondS, d"hentnres. or certificates of
Indebtedness issued after the first dav
OF July. Ammo Domini eighteen hundro
ana hlnety-ct%ht. by any association,
company. or corporation, on each bun-I
ored dollars of face value or fraction
thereof, hive cents, and on each original
issue, whether on org;niz,tion or rn-nr
SanlZatIon. of certificates of stock law
any such associations. company. or cor
porhtIon. Oh each hundred dollars Of face
Nallie or fraction thereof. five cents
ana Oh afl safes, or agreements TO sell
or memoranda of sales or deliveries or
tfanSferS of shares or certificates of
STOCK III any associations. companv. or
corporation, whether made mon or
shown by the books Of the associ,ticr
company, or corporation. or bv any as
SiSninent III blank. or by any delivery
W ny any paper or agreement or monor-
andum or other evidence of Transfer or
sale whether emitting the holder in anr
manner to the benefit Of such stock or
'' '''i' pay lIitHI III money,
OF Tor the future transfer of any stock ON
each hundred dollars of face v,luo 81.
traction thereof. two cents. prornlod
nat III case of sale where the evidence
OF transfer IS shown by the books of
'he company the stamp shall be pIaced
Upon such books; and where the chanoo
OF ownership IS by transfer ccrtifcato
me stamp shall hc placed upon tho cor
tincate; and III cases of an agreement
10 sell or where the transfer IS nv do
livery OF the certificate assigned in blank
mere shaIl be made and delivered bv the
seller to the buyer Il bill or mc,noran
"""n u Such sale, to which the Stamp
Shdil De affixed; and every bill or mem
y nn'"W OF sal" or agreement to sell
before mentioned shall show the d,to
Ihereof, tn" name of the seller tbo
amount of the sale, and the mattcr or
thing to which it refers. And ,nr no, ,
son or persons liable to Day the t,y 90
provided, or anyone who ,cte =,
the matter as agent or broker for sucb ,
or persons. who shall make rny
stch sale. or who shall i'll purs,Iancc Of
any such sale deliver any such stock ar
iuehce OF the sale of any such stock
or bill or memorandum thereof. as here ,
IN required, without having the nronor
stamps affixed thereto. with intent To
eVade the foregoing provisions shall no g.,
deemed guilty Of a misdemeanor. and ,
upon conviction thereof shall pay = fine ,
not less than five hundred nor more !
nan one thousand dollars, or be i'm g
not more than six months. or ,
'oth, at the discretion of the court. -,
Upon each sale. agreement of s,lo or -,
agreement TO sell. any products or NOR ;,
ut any exchange. or board Of -
or other similar place. either for 9
or future delivery. for each ono :,
hundred dollars in value Of said sale or \
agreement of sale or agreement to SOIL
me cent. and for each additional ono 4
hundred dollars or fractional part there =
II III excess Of one hundred dollars. one 3