The Savannah morning news., 1902-01-31
WAR TAXES TO GO
To COME OFF, EXCEPT MIXED
FLOUR.
REPEAL EFFECTIVE JULY |.
WILL BE GLAD NEWS TO BUSINESS
MEN.

Duty ON Tea VIII he Continued Un-
til Jan. 1. 1903, for BENEFIT of
Small Dealers Democratic
Amendments to Tax Trusts and
Bucket shops Observation-Disclosures
Payne Figures That the Revenue
VIII He Reduced About S75,00O,-
600, While Leaving the Treasury
Surplus of $I74,OoO,0OO Intact.
Washington. Jan. 30.-The Ways and
Means Committee by unanimous vote
to-day instructed Chairman Payne to
prepare bill repeating all the war
revenue taxes except the tax on mixed
-four The action taken was in the
form of a resolution to the effect that
the bill should provide for the repeal
of the remaining war taxes to take ef-
feet on July /. 1902 except that the
repeal of the duty on tea should go into
effect January 1, 1908. The only di-
vision in the committee was on amend
ments proposed by Democratic mem-
bers.
Representative Richardson of Ten
neSsee proposed an amendment to put
trust-made articles on the free list.
This was defeated by a party vote.
Representative ROBBERS of Louisiana.
moved to continue the tax on bucket
shops; this was also defeated on a
party vote. Representative Newlands
of Nevada, offered two amendments,
one excepting from the repeal the tax
on petroleum and suo~ar raf3na,aas ard
another imposing d tax of one tenth of
one per cent on the gross receipts of
any industrial corporation having re-
ceipts of $1,O0O,O00 annually. Both
amendments were defeated by party
votes.
Chairman Payne made the following
statement on the proposed repeal:
A Fine Treasury Showing.
THE treasury now has an available
cash balance of something over STA,
100000. 1t is not likely that this will
be increased materially during the
present fiscal year, as the treasury is
buying bonds at rate that will use
up the surplus to accumulate between
this and the end of the next fiscal
year June 30.
The Secretary of the Treasairy's re-
of s1OOo0o.O00. and subsequent results
seem to confirm this estimate. The
committee therefore thought 1t was en-.
tirely safe to repeal the remainder of
the war revenue taxes amounting to
6S,00O,OOO, and the tax of SO 900 900 on
tea, In the aggregate s77, 900, 600 at this
Tune. This will still leave a surplus
estimated upon this years receipts and
expenses of $22 600, 900 or S23. 900 900 for
the year. while we win start upon the
next fiscal year with STA 600, 900 avail
able cash in the treasury.
For Benefit of Retailers.
THE committee deems it wise to
nave the repeal of the tax on tea take
erect on the first of January next. in
order to enable those, especially re-
tailers and small dealers, who have
small stocks of the duty-paid goods
on hand, to dispose of them before
the repeal takes effect. We can pro-
vide rebate on the tobacco tax and
guard against any fraud upon the
revenue for the reason that the In
ternal Revenue Department has this
trade under close surveillance and can
and Will take an account of the stock
in the dealers hand on the first dav
Of July next. But this will be i'm
possible as to teas, which come In as
customs duties, and of which the gov
ernment has no account, save as they
are imported in large quantities by
the importers. Continuing this tea tax
TO the first of January will give us
six months revenue in the next fiscal
year upon tea and will make the ulti-
mate reduction for the next year con-
siderably less than 5000, ,000 The bill
Will be presented to the House as soon
a ha \