Morris tribune., 1901-03-02
IN EFFECT JULY 1
PROVISIONS OF THE WAR REV
ENUE REDUCTION BILL AS
FINALLY AGREED ON.
WORK OF THE CONFEREEs

Measure as Reported Compromise
on the House and Senate BiIIs-H
Makes a Reduction in the Govern.
ment Receipts Estimated at $41,'
100000 acknowledgements at Once
Agrees to the Committee Report.
Washington, March 1.-The confer
ees of the senate and the house upon
the war revenue reduction bill have
| announced the result of their del1bera-
lions upon that measure. AS al
ready stated the report of the com
mittee shows 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 IL cents per
pound as against rs 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 rate
of SO per 1000 was retained as against
$3.50 as fixed by the senate and $3.50
as in the present law. On those
weighing less than three pounds per
1000 the senate rate of Is cents per
pound was allowed to stand as against
the rate of 81 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 action fixing the rate at IL
cents per pound prevailed.
BERTHE house rate of $1.6O per
barrel and repeating the Z IL per cent
discount was retained.
Bankers capital-Present law re-
tanned, the senate retreating from its
amendment.
Brokers' Tax Repealed.
Commercial brokers' tax-Repealed
in accordance with original action of
both houses.
Certificates of stock transferable
RATE Ol 4 C0uLS 1OI OdCA P1VO ID ASIc1AA4
ed and the senate amendment making
the law include the transaction OF
bucketshops was accepted by the
house conferees.
Sales of products at exchanges
The senate amendment exempting
sale of merchandise in actual course
of transportation was accepted, but
the rate of 1 cent for each $500 as
fixed by the present law was retained,
the senate amendment making the
rate 81 being disagreed to.
Bank checks-Repealed in accord
ing with the senate action.
Certificates of deposit Repealed.
Premissary notes-Repealed.
Money orders-Repealed.
Bills of exchange, foreign-The rate
fixed at cents for each 500 in &C
cordance with the senate amendment.
Bills of 1ading for export-Repealed.
Express receipts-Repealed.
Telephone messages Repealed.
Miscellaneous bonds-Repealed, ex-
cept upon bonds of indemnity.
Certificates of damage and certlf-
Gates not otherwise specf1ed-Re-
pealed.
Conveyance-Exemp below 81
500; above $4,000, Is cents for each
$500, in accordance with senate &C.
ton.
Telegraph messages-Repealed.
No Tax on Insurance.
Insurance-Tax repealed on all
kinds of insurance, in accordance with
the action of the house, the senate
conferees receding on all senate
amendments.
Leases-Repealed.
Mortgages-Repealed.
Steamship passage tickets - Elk
empted below $50 in value and the
rate fixed at so cents for each $50 in
cost for that price and over.
Power of atterney-Repealed,
Protest-Repealed.
Warehouse receipts-Repealed.
Proprietary medicines-Tax re-
pealed in accordance with house &C
ton, the senate amendment being dis
agreed to.
Perfumes and cosmetics-Repealed.
Chewing gum-Repealed.
Legacies-Law modified SO as to
exclude from taxation legacies OF
charitable, religious, literary or edu-
cational character.
The total reduction of the revenues
as made by the bill as agreed upon
will amount to about $41, 100000 as