The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1901-03-09
TAXES ARE CUT DOWN
War Revenue Measure Passed by
Senate and House.
The Conference Report Making Re-
duction of About S4f,OoO,oOo
VIII Become n Law ON
July 4.

Washington, March 1.-The confer
ees of the senate and house upon the
war revenue reduction bin Thursday
announced the result of their deliber-
ations upon that measure. The house
and senate adopted the report. AS al
ready stated, the report of the COM
mittee shows a compromise all along
the lines of the bill. the changes in the
present law being as follows:
Tobacco-Twenty per cent. discount OF
the original tax Of ~ cents per pound as
against 25 per cent. reduction as fixed by
the senate and none as the bill passed the
house. The rate agreed upon will make
The tax $3.50 per 100 pounds.
Cigars-On those Weighing more than
three pounds per 1000. the house rate or
three dollars per 1000 was retained, as
against $3.50 as fixed by the senate anc
IS. go as In the present law. On those weigh
ing less than three pounds per 1000
the senate rate of IS cents per pound was
allowed to stand as against the rate OF
one dollar per 1000 as fixed by the existing
law. which was not disturbed by the house
Cigarettes-On those weighing not more
than three pounds per 1000. the senate ac-
ton fixing the rate Of IS cents per pound
prevailed The house did not change the
existing law.
Berthe house rate of sl.60 per barrel,
and repeating the IN per cent. discount
was retained.
Bankers capital-Present law retained
the senate receding from its amendment.
Commercial brokers' tax-Repealed In ac
cordance with original action of both
houses.
Certificates of stock transfer s-The rate
Of two cents for each 500 is retained, and
the senate amendment making the law in
clude the transactions of bucket-shops was
accepted by the house conferees
Sales of products at exchanges-The sen
ate amendment exempting sales OF mer
chandise in actual course of transporta-
ton was accepted, but the rate of one cent
for each 500 as fixed by the present law
was retained, the senate amendment max
| ing the rate two dollars being disagreed to
| Bank checks-Repealed In accordance
with the house action.
Certificates of deposit-Tax repeated
Promssory notes-Tax repealed.
Money orders-Tax repealed.
Bills of exchange, foreign-The rate fxed
at two cents for each 500, In accordance
with the senate amendment
| Bills of lading for export-Repealed.
| Express recepts-Repealed.
Telephone messages Repealed
| Miscellaneous bonds-Tax repealed, ex
| cept upon bonds of indemnity
Certificates of damage and certificates
not otherwise specifed-Repealed.
| Charter party-Repealed
| Conveyance-Exempted below s2,50o
above $500, rs cents for each $500, In accorc
ance with senate action.
Telegraph messages-Tax repealed.
| 1nsurance-Tax repealed on all kinds O.
insurance. in accordance with the actiol
| of the house, the senate conferees receding
! on all senate amendemnts.
| Leases-Tax repealed.
| Manifests--Tax repealed.
| MortgageS-Tax repealed.
| Steamship passage tickets-Exempt be-
/ IL L.. AL, h. "a
cents for each $50 in cost for that price and
over.
Power of attorney--Tax repealed.
Protest-Tax repealed.
| Warehouse receipts-Tax repealed.
Proprietary medicines-Tax repealed In
accordance with house action, the senate
amendment being disagreed to.
Perfumery and cosmetics-Tax repealed.
| Chewing gum--Tax repealed.
! Legacies-Law modified so as to exclude
from taxation legacies of charitable. reli-
gious. literary or educational character.
The Total Reduction.
The total reduction of the revenues
as made by the bill as agreed upon
will amount to about SAL 100000, as
against reduction of $40,000,000 as
it passed the house and $45,000,OO0
as amended in the senate.
| hC VI Viz Jill % o6 49,
upon will take effect on the LIST OF
next July.
The democratic conferees Senator
Jones, of Arkansas, and Mr.. Richard
son, of Tennessee,) signed the report,
which is looked upon as removing
doubt on the passage of the bill.
Detailed Estimate.
The following are detailed estimates
of reductions made by Representative
Payne, one of the house conferrees:
Commercial brokers, S13s0o0; certificates
OF deposit, 5000. 900; promissory notes, $780,
900; bills of lading for export. 100000; tele-
graph dispatches, $780, 900; telephone mes
sages, 1915, 900: bonds, other than indeuni-
ty. SOS. 900; certificates not otherwise speci-
fed. $500 900; charter party, 800, 900; convey
ances, ,750, 900; insurance 50, 000, 900; leases
500, 900; mortgages. $500 1000; passage tick
cts. 500, 900; power of attorney, 500. 900: pro-
| tests, SIS, 900; warehouse receipts, $3.50, 900;
express receipts. $500. 900: proprietary medi-
cines, cosmetics and chewing gum, 50, $780,
COO; legacies. $500, 000 cigars. 50 100. 900; to-
bacco N,000,000; small cigars and ciga-
rettes, $500 900; beer, 81. 800, 0O0 bank checks.
1900, 900; foreign bills of exchange. $780,
600; money orders, $602, 900; manifest for
, custom houses SEQ. OO0