The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-01-25
WAR REVENUE TAXES
senate Makes a Complete sub for
House RIsl


Washington. Jan. 4.-Ssnator Aldrich.
chairman Of the senate committee on f.
nance reported the war revenue reduction
bill back otlle senate The committee
reports a eomplste SUB for the bili as Il
passed the house. Senator Aldrich made
a statement explaining the changes.
which are as follows;
Stamp taxes repealed-promissory notes.
mortgages. bills Of laden for export. pow
ers OF attorney. protest, charter party.
certificates OF all kinds, warehouse re-
ceipts, telegraph receipts. telephone mes
sages. passage tickets costing less than
$50 express receipts. freight receipts. bonds
except bonds Of indemnity. legscies to re-
ligious. charitable. literary or educational
institutions.
Special taxes repsalea-Commescssi
brokers.
Taxes Rednced- Conveyance. insur-
ance. bankers. capital proprietary med
cines, cigars tobacco. and beer"
The statement says that having in view
! always the revenue requirements Of the
+ government the purpose OF the committee
has been to repeal such taxes imposed BY
the war revenue act OF IsgS rs are most
oretain such as would be kept as a
permanent part OF our revenue system or
at least retained until all war taxes can
be repealed and TO reduce others as fair
ly and equitably ss possible by some gen
eral pie NOT reduction Pursuing this sen
eral plan. it has been possible to reduce
TIE taxes affected approximately one
half
Taking the testimony Of the treasury
! department as a basis, the reduction OF
revenue affected by the bin viii be nearly
10000 900. areduction somewhat less than
was produced by the bill as II passed the
house Of representatives.. In the commit
tee substitute provisions in regard TO ci-
CARS. tobacco beer. etc, are the follow
ing:
THAT o nand after July I. 1901. there
shall be allowed discount OF Q per cent
on all sales by collectors 70 brewers and
manufacturers OF tobacco and snu6 and
upon the stamps provided for the pay
ment Of internal revenue taxes upon beer
and manufactured Tobacco and snuff pro-
vided that the discount allowed 10 brew
ers on beer stamps shall be in lieu OF the
discount Of seven and one-hah per cent
allowed by the act Of June l3. lsss
The effect IS to reduce the beer tax 70
$40 per barrel and on snun and tobacco
to nine cents a pound.
There IS general reduction 81 the tax
on Insurance policies and renewals. and
it is provided that in leu OF the present
taxes special taxes shall be imposed. 70
be paid by the insurance companies. as
follows:
Life Insurance Companies-Four cents
on the amount insured for each 500 or
fraction OF every policy. This provision
is modified by the following provision:
That IN all policies for life Insurance
only. issued on the Industrial or other
weekly or monthly payment plan or iu-
surance, the tax ODE paid shan re
twenty per centum Of the amount OF the
first weekly premium or per centum ~
the first monthly premium. and provided
further. that the provisions Of this section
shah not apply 70 any frateruaI benefit
society, order or farmers purely iocsI CO.
operative company or association or en-
ployees relief association. operated on
lodge system or local cooperative plan.
organized and conducted solely by tbs
members thereof for the exclusive bens-
1T Of its members and not fer proft"