The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1901-03-08
WAR REVENUE REDUCTION
The Conterees of the Two Houses OF
Congress Finally Reach an
Understanding.
Compromise As II WAS PRESENTED.
Many of the Sections Repealed are
In the Direction of ENpediting Orr
diuurY Business transactions
Which at Present Require the Af-
6xlng of stamp.

oAinE O1 u stamp.
Washington, March 1.-The confer
ees of the senate and house upon the
war revenue reduction bill announced
the result of their deliberations upon
that measure. AS already stated, the
report of the committee shows a com
promise all along the lines of the bill,
the changes in the present law being
as follows:
Tobacco, 20 per cent. discount of
the original FAX of IL cents per
pound, as against 25 per cent. reduc-
tion as fixed by the senate and none
as the bill passed the house. The rate
agreed upon will make the tax $500
per 100 pounds.
Cigars-On those weighing more
than three pounds per 1000 the house
rate Of So per 1000 was retained, as
against $3.50 as fixed by the senate,
and $500 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 18
cents per pound prevailed. The house
did not change the existing law.
Beer-The house rate of $1.60 per
barrel and repeating the 7k per cent.
discount was retained.
Bankers Capital-Present law re-
tained, the senate receding from it's
amendment.
Commercial Brokers' Tax-Re-
pealed in accordance with original
action of both houses.
Certificates of Stock Transfers The
rate of two cents for each 500 is re-
tanned and the senate amendment
making the law include the transac-
tions of bucket shops was accepted by
the house conferences.
Sales of Products at Exchanges
The senate amendment exempting
sales of merchandise in actual course
OF transportation was accepted, but
the rate of one cent for each $100 as
| fixed by the present law was retained
the senate amendment making the
rate So being disagreed to.
Bank Checks-Repealed in accord.
ance with the house action.
Certificates of Deposit--Tax re.
pealed.
Promissory Notes--Tax repealed.
Money Orders-rsX repealed.
Bills of Exchange, Foreign-The
rate fixed at two cents for. each 500
in accordance with the senate amend
ment.
Bills of Lading for Export-Re
pealed.
Express Receipts Repealed.
Telegraph Message
Miscellaneous BoTds-Tax repealed
except upon bonds of indemnity.
Certificates of Damage and Certili
Gates not Otherwise Specified-Re
pealed.
Conveyances-Ex Exempted below 50,
500; above $2,5OO, % cents for eacl
$500, in accordance with senate ac
ton.
Telephone Messages-Tax repealed
pealed.
Insurance-TaX repealed on al
kinds of insurance in accordance witt
| - . .
conferences receding on all senat
amendments.
Leases-TaX repealed.
Manifests-TaX repealed.
Mortgages-TaX repealed.
Steamship Passage Tickets-ES
empted below $50 in value and tn
rate fixed at 80 cents for each $50 1
cost for that price and over.
Power of Attorney-Tax repealed.
Protest-TaN repealed.
Warehouse Receipts-Tax repealed
Proprietary Medicines-Tax re
pealed in accordance with house az
tion. the senate amendment being dii
agreed to.
Perfumery and Cosmetics-Tax r.
pealed.
Chewing Gum-TaX repealed.
Legacies-Law modified so as 70 e.
clude from taxation legacies of cha
liable. religious. literary or educi
tional character.
The total reduction of the revenue
as made by the bill as agreed upo
viii amount TO about s41 600; 900 1
against a reduction of S40,OOo,OOO as
passed the house and S45,OOO.OOO
amended in the senate.
The provisions Of the bill as agre'
upon will take effect on the first
next July. .-
Washington, March line sena
has agreed to the conference repo
on the war revenue reduction oi
There was no objection