The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-01-25
stamps Taken on kilograms, Express
Receipts and Telephone Messages
and Restored on Bank Checks.
CHANGES IN THE ARMY BILL
WHAT THE CONFEREES OF THE
TWO HOUSES AGREED TO.
Chairman HulIs Statement - HilFs
Gold Standard Bill Reported
DOings of Indianians.

WASHINGTON, Jan. Ex-senator AID
rich. chairman of the Senate committee on
finance, to-day reported the war revenue
reduction bill back to the Senate. The COM
mittee reports complete substitute for the
bill as it passed the house. Senator AID
rich made a statement, explaining the
changes which are as follows:
Stamp taxes repealed-Promissory notes,
mortgages, bills of lading for export, pow
ers of attorney, protest, charter party,
certificates of all kinds leases, warehouse
receipts, telegraphic dispatches. telephone
messages, passage tickets costing less than
$50; express receipts, freight receipts,
bonds, except bonds of indemnity; legacieS
to religious, charitable literary or educa-
tional institutions.
Special taxes repealed = Commercial
brokers.
Taxes reduced-Conveyances. insurance.
bankers, capital, proprietary medicines,
cigars, tobacco and beers"
The statement says that having always
in view the revenue requirements Of the
government, the purpose of the committee
has been to repeal such of the taxes i'm
posed by the war revenue act of 1898
are most annoying and burdensome to tax
payers, to retain such as would be kept
as permanent part of our revenue system
Z
be repealed, and to reduce others as fairly
and equitably as possible by some general
plan of reduction. Pursuing this general
plan, it has been possible to reduce the
taxes affected approximately one-half.
Taking the estimates of the Treasury
Department as bisis the reduction of rev.
enue effected by the bill will be nearly
$4o,0Oo,OoO, a reduction somewhat less than
was produced by the bill as it passed the
House of Representatives.
BEER AND TOBACCO.
The committees substitute provisions in
regard to the cigars, tobacco, beer, ETC.,
are follows: THAT on and after July 1,
1s0l the internal revenue tax on cigars
weighing more than three pounds per
thousand shall be $3.50 per thousand; thai
on and after July 1. 1901. there shall be al
lowed a discount of % per cent. on all
sales by collectors TO brewers and manu-
facturers of tobacco and snuff upon the
stamps provided for the payment of inter-
nal revenue taxes upon beer and manu-
factured tobacco and snuff, provided that
the discount allowed to brewers upon beer
stamps shall be in lieu of the discount of
~ per cent. allowed by the act Of June
is. 1898" The effect is to reduce the beer
tax to $1.50 per barrel and on snuff and
tobacco to 8 cents pound.
There is general reduction on the tax
on insurance policies and renewals, and it
is provided that in lieu of the present taxes
special taxes shall be imposed to be paid
by the insurance companies follows:
Life Insurance Companies-Four cents on
the amount insured for each s1OO or fraction
of every policy. This provision is modified
by the following proviso: "That in all
policies for life insurance only, issued on
the industrial or other weekly Or monthly
payment plan Of insurance, the tax to be
paid shall be 20 per centum of the amount
of the first weekly premium, or per CEN
tum of the first monthly premium; and
provided further that the provisions of this
section shall not apply to any fraternal
beneficial society or order, or farmers
purely local cooperative company or as
sociation, or employees relief association,
operated on a lodge system or local CO.
operative plan, organized and conducted
solely by members thereof. for the exclu-
sive benefit of its members and not for
profit
Marine, inland. fire, casualty, fidelity
and guaranty insurance companies-Quar-
ter of per cent. of the gross premium re-
ceipts, purely cooperative or mutual fire
insurance companies" 10 be exempted.
All insurance companies are to be required
to make annual returns to the commission
or internal revenue; the returns required
being such as will enable the commission
TO levy and collect from the companies
the taxes required to be paid by them
In case of nonpayment of the special
taxes levied against insurance companies
ii is provided that the. delinquent company
shall besides being liable for the payment
of double the amount of such special tax,
be deemed guilty of misdemeanor, and up
on prosecution thereof shall pay a fine of
not more than $500. The commissioner of
internal revenue is authorized to examine
books and accounts of companies he sus-
poets are making false returns.
The rate on conveyances. including deeds
to land. is materially reduced. In the ex-
listing law all deeds covering values exceed
ing 500 are taxed at the rate of fifty cents.
The Senate committee removes the tax
on all deeds where valuations are below
s., 500 and makes the tax rate twenty-five
instead of fifty cents. For each additional
$500 above $1,000 the tax is to be twenty-five
cents.
The tax on bankers is fixed at the rate
OF 81 on each $1,000 OF capital and surplus
used by them.
PROPRIETARY ARTICLES.
Section 20 of the existing law pertaining
10 proprietary articles, including drugs,
perfumeries. ETC.. is practically rewritten.
The language OF the first portion OF the
section is allowed to stand. except that
perfumeries and cosmetics are eliminated
The provision. as reported. provides that