The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-07-18

N
probable that the ieNt annual report of
the internal evenu bureau win recon-
mend a number of changes in the war
revenue act. In the main, the law has
worked satisfactory and has produced
almost exactly n amount
by the commissioner. This, however,
was something less than the
generally accepted by well-informed
members of congress-.
The Internal revenue officials are OF
the opinion that the law might proper
ly be extended in certain directions
without becoming alt all burdenSome to
the public and in a way to produce a
considerable revenue. One OF the propo-
sitions now under consideration is to
assess a tax on the sale or rental of all
patent protected articles. In speaking
of the matter today one Of the officials
spoke Of the telephone companies in
this connection and ait the same time
said that there were many inventions
producing an enormous profit which
could we'll stand a revenue tax.
Tt probably will be suggested Ito con-
gress that express and telegraph COM
panies doing a money exchange bust
ness be required to pay an annual tax
for the privilege. Although they now
pay a tax On receipts AMI kilograms re-
spectively, it is pointed u that
ers are required to pay a yearly tax
of $50, which is regarded as a d1scrlm-
ination against them. 1t is probable
that each express office n telegraph
office in towns having over a certain
population, if the views OF the treasury
officials are approved by congress, will
be required to pay a certain yearly tax
for the privilege of doing an exchange
business.
IT is also likely that a modification Of
the law with respect to mutual inSur-
ance companies may be recommended.
In the present act there is considerable
obscurity with respect to the provisions
as to these companies, both fire n
life. 1t is pointed out that a number
of the leading companies in the cOun-
try are operated upon the mutual plan.
Some of them are paying the tax with
out protest, but there is doubt as to
their liability in this respect. 1t is be-
lieved, however, that congress clearly
intended to make the exemption apply
to local companies doing a strictly 10
cal business without surplus or undi-
Vided profits or money at their COM
mand with which to pay large salaries
to their officers.
oGGLIOl ~ Ol Iue war revenue dCl, uC-
filming what shall be taxed under
. Schedule B., has been a source of much
trouble to the internal revenue officers.
For instance, the whole group of coal
tar extracts has been decided by the
courts to be not subject to the tax. A
pound of p~henacetin costs in Canada, it
is aid, from II to Is cents, and yet in
the United States the price is uniformly
$1.OO a pound. This drug, it is Thought,
could we'll stand a heavy tax.
There are several items in the OLD
internal revenue laws which,, it is be-
lieved, should be eliminated or modi-
fled, and 1T is not improbable that con
gress will be asked to appoint an ex-
pert commission to thoroughly go
over THE ground and recommend sue
changes in detail as experience has
been shown to be necessary.
ANXIOUS ABOUT GUATEMALA.
The state department is watching
With anxiety the developments in Gau-
temala. 1t is premature to announce
the decision to send the Philadel-
phia from San Francisco down to that
country and it may be hat the pres
ence of the gunboat Vixen on the east
coast will be regarded as sufficient for
the present; but there are hints of for
eign action that might involve a repe-
tftion of the Corinto incident, and in
that case, it is probable it would be
deemed necessary by our government
to have a stronger naval representation
at the seat OF trouble. It is said at the
state department that the financial
conditions in Guatemala, with impend-
ing reputation, threaten severe loss to
American citizens, but so far, our gov
m has not consented to take any
joint action with England, Germany or
any other nation, to bring pressure to
bear upon the disturbed republic. 1t is
p~rOblematical what attitude will be
adopted by our government in case al
attempt should be made by European
governments to seize custom houses in
Guatemala to collect money for bond
holders. In the case Of the Corinto
landing, a question OF national honor
was involved, an indemnity having
been demanded by England for the ILL
treatment of her consular officers; but
our government has heretofore and no.
tably in Mr. Blaine's time, leaned tC
the belief that the holders Of govern
ment bonds, being individuals, took
their bonds subject to the vicisSitudes
and chances of Reputation, the prices
being regulated by the risks incurred.
OUR FOREIGN. TRADE FOR LAST
FISCAL YEAR.
A statement of the imports and tx.
ports Of the United States shows tina
for the year the total imports of mer-
,chandlse to S697 ,O77, 1888, OF
which over $500, 600, 900 were free of du-
ty. For the year the exports of domeS'
tic merchandise amounted to $1,227, 433,
425, which is a decrease from last year
of $4,O5S,9O5. For the year the imports
of gold amounted to SS8, 954, 603 and the
exports to $S7, 522, OS6.
The chief reduction in the value OF
exports during the year is in grain
of which the supply abroad in 1898 was
unusual, causing high prices as we'll a:
a greater demand for the products o.
the grain fields of the United States
the average price per bushel of whear
exported in the fiscal year 1898 being
$3.50 cents, against an average of IA z
cents in the fiscal year just ended. The
reduction in expectations Of grain il
chiefly in price, h quantity of wheaa
exported being about 10, 600, 900 pu.nel:
less than that of last year. Indeed tn,
reduction in wheat exports is more thar
offset by the exports OF flour, of which
the exports of 1899 are about 5000, ON
barrels in excess of those of last year
this increase more than eQualing tn,