The Camden chronicle. (Camden, Tenn.) 1890-current, 1901-03-08
A CUT OF MILLIONS
COniereeS on War Tax Reduction
Measure Reach Agreement.
COMPROMISE ALL ALONG LINE
Bill Is to Take Effect July Ist Next,
Partial List Of the Reductions
Made BY COnferees.
COMPROMISE ALL ALONG LINE

A Washington special says: The
conferees of the senate and house up
on the war reduction bill have an
nounced the result Of their delibera-
tons upon that measure. 1t 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 10 cents per
pound as against twenty-five per cent
reduction 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 1 200 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 thousand the senate rate of IS
cents per pound was allowed to stand
against the rate Of 81 per thousand as
fixed by the existing law, which was
not disturbed by the house.
Cigarettes-On those weighing not
more than three pounds per thousand
the senate action fixing the rate at Is
cents per pound prevailed. The house
did not change the existing law.
Beer-The house rate of 81. go per
barrel and repeating the Y per cent
discount was retained.
Bankers Capital-Present law re-
tanned, the senate receding from its
amendment.
Commercial Brokers' Tax-Repealed
in accordance with original action of
both houses.
For Certificates of Stock Transfers
The rate of cents for each 500 is
retained and the senate amendment
making the law include the transac-
tions of bucketshops was accepted by
the house conferees.
Sales of Products at Exchanges
The senate amendment exempting sales
of merchandise in actual course of
transportation was accepted, but the
rate of / cent for each 100 as fixed by
the present law was retained, the SEN
ate amendment making the rate 81
being disagreed to.
Bank Repealed in accord
ance with the house action. On GER
tifcates Of deposit, telegraph and tele-
phone messages, express receipts,
money orders, promissory notes, char
ter party, bills of lading for export
leases, manifests, mortgages, power of
attorney, protests, warehouse receipts,
perfumery and cosmetics and chewing
gum, the tax is repealed.
Bills of Exchange, Foreign - The
rate fixed at cents for each 800 in
accordance with the senate amend
ment. Miscellaneous bonds tax re-
pealed, except upon bonds for indem,
nifty.
Certificates of damage and certif-
Gates not otherwise specified repealed.
Conveyances, exempted below So, 500
above 50, 500, % cents for each $500, in
accordance with senate action.
Insurance tax repealed on all kinds
of insurance in accordance with the
action OF the.house, the senate conferees
receding on all senate amendments.
Steamship passage tickets exempted
below $50 in value, and the rate fxeC
at 80 cents for each $50 in cost fol
that price and over.
Proprietary medicines tax repealed
in accordance with the house action
the senate amendment being disagreed
to,
Legacies law modified so as to ex
clude from taxation legacies of Chart
able, religious, literary or educationa
character.
The total reduction of the revenues
as agreed upon aggregates about $41,
O00,O as against $40, 100000 as i
passed the house, and $45, 900, 900 q
amended in the senate.
The provisions of the bill as agreed
upon will take effect on the LIST of mex
July
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