The times. [volume] (Richmond, Va.) 1890-1903, 1901-02-01
REBATE ALLOWED
ON TOBACCO TAX
amendment to War Revenue Act
Reported by Senate Committee.
BUCKET SHOPS ARE TAXED.
N.w Section Places Heavier Bur-
don on These Institutions. but Docs
Not I,ecni.ze Them III States
Where They Are Prohibited.
mr. Associated rrcss.)

f1sy ASSoclaIcG jFcSSy
WASHINGTON, Jan. 3i.-Thc Senate
Committee on Finance to-day reported a
,,r,nf,c. of amendments to The war rove
rue reduction act. a new section placed
:: heavy tax on bucket SHOPS, providing
for a stamp tax o. one cent on every
hundred dollars Worth OF merchandise
covered or pretended to>bc covered in such
trading and Il similar tax of Two cents on
every hundred dollars face value OF all
stocks and bonds so dealt In
a sf,ccial provision is made against this
tax being construed into legaiizinE such
shops in States whore there are laws
against them. and ii is explicitly stated
that il shall not interfere with the right
q: States 10 place tax of their own on
such business. Further provision is made
FOR a special annual tax OF $50 on all
bucke, shop firms. with an additional tax
OF $50 for every branch house OF the firm
wherever located. such tax 10 be paid
within thirty days after the passage OF
the act
Books must be kept by such firms show
Ing all transactions. subject to inspection
nv collectors. Penalties are provided
making: il :, Inisdemeanor if any of the
provisions OF The act is not carried out,
fines of $500 TO 81 900 and imprisonment of
three months TO Two years being the
penalty.
REBATE or TOBACCO TAX.
IS added. as follows: That Oh all oriSi-
nal and unbroIcn factory packages of
smoking and manufactured tobacco and
snuff and cigars held by manufacturers
or dealers at the time such discount or
reduction OF tax shall go into effect. upon
which the tax has been paid there shall
l,c allowed ii drawback or rebate OF the
full amount of such discount or reduction
of tax i,tit the same shall not apply IN
any case where the claim has not been
presented within sixty days following the
date OF the reduction; and such rebate
10 manufacturers may be paid in stamps
at the reduced rate, and II" claim shall
he allowed or drawback PAID for less
amount than ten dollars. 1t shall be the
duty of the Commissioner OF Internal
Revenue. with the application OF the Sec
retaly of the Treasury TO adopt such
rules and regulations and to prescribe
and furnish such blanks and forms as
may be necessary TO carry TINS Secuon
into effect
NEW SECTION.
Another new section is added. as fol-
lows: That from and after the passage
of this act the Secretary of the Treasury
is authorized TO appoint a. competent per-
son, whose special duty il shall be to con-
duct such Investigations as may he neceS-
saly TO secure the efficient enforcement OF
tax imposed upon legacics and distrihu-
tive shares Of personal property by section
&c OF said act, approved June 7''" 1893.
and he may also appoint such additional
clerks or agents as may be necessary
for the collection OF said taxes.
The existing laws relating 10 the tax
on bills OF exchange is amended so as
10 read as follows:
Bills OF Exchange foretsn or letter of
creaiD including orders by telegraph or
otherwise. for the payment of money. is
. sued by express or other companies or
any person or persons drawn in. but pay
able out OF the United States if drawn
sineiy or otherwise than 81 set of three
or moro. according to the custom of mer-
chants and bankers. shall pay for a sum
not exceeding Si00 two cents and for each
800. or fractional part thereof in excess
OF 500, two cents: if drawn in sets OF Two
or more: for every bill Of each set, where
the sum made payable shall not exceed
500 or the equiveland thereof, in any
foreign currency. in which sa'd bill may
lie expressed according to the standard
of value fixed by the United States. one
cent and for each 500 or fractional part
thereof in excess OF 500, one cent