The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1902-01-31
REPUBLICAN, JANUARY
TO REPEAL WARTAy
Committee Decides Upon Al
most a Clean Sweep.
TAX ON MIXED FLOUR RETAINED.
Democrats OFFER Many Anne nd n, nts,
bat Are Defeated by Party Vote.
Treasury Has SuAieiemt Cash
to Warrant the Change.

WASHINGTON, Jan. 31.-Thc ways
and means committee by unanimous
vote has instructed Chairman Payne
to prepare a bill repeating all the wal
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
effect on July |, 1902, except that the
repeal of the duty on tea should go
into effect Jan. J.. 1903. The only di-
vision in committee was Oh amend
ments proposed Ivy Democratic mem.
bers
Representatives Richardson Crenn.)
proposed an amendment to put trust
made articles Oh the free list This was
defrated by party vote, as was the
amendment Of Representative Robert
son nLa., to continue the tax on buck
ct shops"
Representative Nrwlands (Ncy.) Of
fered two amendments, one excepting
from the repeal the tax on petroleum
and sugar retnerjes and another i'm
posing 4 tax of ono-ten:i of PR cent
on the gross receipts of any industrial
corporation having receipts Of $1,000
600 annually Both amendments were
defeated by party woes.
Chairman Payne made the following
statement OH the proposed repeal
''Ihn 1pau has Hal. in
cash balance Of something over STA
OOO,0u0. 1t is not likely that This vii
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 fiscal year.
June 30 next. The secretary OF the
treasury's report estimated Il surplus
for this year of $100,0OO,000, and sub
sequent results seem to confirm this
estimate
"'rLc committee therefore thought it
was entirely safe to repeal the re-
mninder Of the war revenue taxes,
amounting to SOS. OOO,OOO, and the tax
Oh tea of S9,0O0.00O. in the aggregate
$11.GOOO0, at this time. This will
Still leave a surplus, estimated upon
this years receipts and expenses, of
SO, 100000 or 3,OOO.OOU for the year.
while we start upon the next fiscal
year with sl74.OO0,O00 available cash
IN the treasury.
"The committee deems it wise to
have the repeal of the tax on tea take
effect on the LIST of January next in
order to enable those, especially re-
tallers and small dealers who have
small stocks of the duty paid goods on
hand, TO dispose OF them before the
repeal takes effect
I'VE can provide Il rebate on the
tobacco tax and guard against any
fraud upon the revenue for the reason
thai the internal revenue department
has this trade under close surveillance
and can and will take an account Of
the stock in the dealers hands on the
1st of July next. But this will he in.
possible as TO teas. which come in as
customs duties and of which the gov
eminent has no account save as they
are imported in large quantities by the
Importers. Continuing this tea tax TO
the lst of January will give us six
months revenue IN the next fiscal
year upon tea and will make the uIti.
mate reduction for the next year con
siderably less than S7I,OOO.OOO The
hlll Will be presented 10 the bOusa nc
soon rs il can be prepared