The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-01
THE WAR TAX REDUCTION.
The Conference Report Adopted by
Roth senate and House.

| The War Revenue Reduction bill now
| goes to the President for approval. The
report of the House and Senate conferees
was adopted by both houses of Congress
/ yesterday without opposition. The sud-
| denness with which the conferees reached
an agreement Wednesday night was part
of the programme by wiIiriI opposition to
the Philippine and the Cuban amend
ments 20 the Army Appropriation bin was
withdrawn in the Senate, as the Senate
conferees yielded TO the House practically
all the amendments of the Senate except
those affecting the tobacco schedule
AS finally agreed upon manufs ctured
tobacco and snuff will pay tax Of and
8 cents q pound, instead of u cents as at
present. On cigars the tax Will be s. per
1eo instead of $3.50, as at present. and
$3.50 proposed by the Senate.
Cigars weighing less than three pounds
per geo Is cents per pound instead of 81
per loo under existing law. Cigarettes
valued at less than 81 per 1000. Is cents
per pound and over s., the tax will be Is
cents per pound.
On beer the House rate of $3.50 per bar
rel is retained. This is reduction of Is
cents barrel from existing rates while
the Senate rate was $l.51.
The present tax of cents per 500
on transfers % stock is retained with
additional provision making it apply to
bucket shop transactions. The tax OF l
cent per 800 on sales at produce ex-
changes and boards of trade is reduced to
one-half cent, with provision exempting
from taxation the sales of such products
as are in actual course of transporta-
ton. when accompanied by bill of lading.
Foreign bills of exchange will hereafter
pay cents for each 500, which is d
reduction of 30 per cent under existing
charges.
EilIs or axchang. drawn AGAINST TN.
value of products actually exported u
foreign countries, however. are exempted
from this tax, provided they are accom-
panied by proper invoices and receipts,
bills of lading. or vouchers showing that
goods OF value at least equal to the
amount drawn have been exported.
The tax of cents per sloo on drafts.
or inland bills of exchange. which was
abolished by the H1use bill, has been re-
stored by the conference bill.
The net reduction in revenue under the
bill is estimated at So les, 600 The various
items of reductions are: Commercial
brokers. sl3S@0; certificates of deposit.
$500, ad0; prOmisscry notes SSb.'DH; bills
of lading for export. slOOttS; telegraph de
spatches SSo0.OoO; telephone messages.
s315,00; bonds other than indemnity. So
600; certificates not otherwise specified.
100000: charter party, Sl0O,0Uo; convey
ances, 81. $50, 900. insurance. S,0o0,O1; leases.
$2000 tg: mortgage. $500. oId; passage tickets
sos. 900: power of attorney, zoo: pro-
tests, $4,000. warehouse receipts S250. 900;
express receipts, NsVv.VH' proprietary med
icineS. perfumerS, cosmetics. and chewing
gum, S5.S10.W1; legacies, s5e1,epa: cigars,
So 100000; tobacco. $.O00.0S; small cigars
and cigarettes. $500, 0oO; beer So S01 100.
bank checks. 5000, 900: foreign bills of ex-
change, $4,000; money orders. seD2.0N0;
manifests for custom house, S6O.O00
All the provisions of the bill except
those relating to bucket shops take effect
July l next.
A special tax of $50 year i also i'm
posed on each bucket shop or b. nch office
thereof, the tax to take effect ril l. The
accounts Of all their transacth ns are to
be open to inspection and penalties of
fines and imprtsonmeuts provided for vio-
lations. 1t is estimated that the bucket
shop taxes will yield annual revenue
Of s.. 50I.0O0.