The Elk Mountain pilot., 1902-02-04
IeEPEALS WAR TAXES
BEER AND TOBACCO RELIEVED.
Ways and Means Committee Report to
the House-All Duties Cut to Fig
ures Previous to tho War.


Washington, Jan. 3L1The ways and
means committee by unanimous vote
instructed Chairman Payne to pre-
pare bill repealing all the war taxes
except the tax on mixed flour The ac-
ton taken was in the form Of resolu-
ton to the effect that the bill should
prepare for the repeal of the remain
ing war taxes to take effect on July 2,
1902. except that the repeal of the duty
on tea should go into effect January l,
1908.
The only division in committee was
on amendments proposed by Demo
cratic members. Representative Rich
ardson of Tennessee proposed an
amendment to put trust-made articles
on the free list This WIS defeated by
n party vote. as was the amendment of
Representative Robertson of Louisiana,
to continue the tax on bucket shops"
Representative Newlands of Nevada
offered two amendments, one except
ing from the repeal the tax on petro-
leum and sugar refineries, and another
imposing a tax of one-tenth of one per
cent. on the gross receipts of any IN
dustrial corporation having receipts
of S1,OOO,OOO annually. Both amend
ments were defeated by party votes.
tHdTlIldu ray ne Tttu tlie loioWi iiS
statement OF the proposed repeal.
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 IL
buying bonds at rate that will use
up the surplus to accumulate between
this and the end of the fiscal year,
June Both, next. The secretary of the
treasury's report estimated surplus
for the year of S1OO,OO0,OO and subse
Quent results seem to confirm this esti-
mate. The committee therefore thought
il was entirely safe to repeal the re
aminder of the war revenue taxes,
amounting to S6S00O.0OO, and the tax
on tea. amounting to S9,OO0,OOO, in the
aggregate ST.. 100000 at this time. This
will still leave II surplus estimated up
on this years receipts and expenses
of $22,O00,0o0. or S23,0OO,O00 for the
year. while we will start upon the next
fiscal year with S114000.OO0 available
cash i'll the treasury. the committee
deems Il wise to have the repeal of
the tax on tea take effect on the LIST of
January next in order to enable those
especially retailers, who have stocks
of the duty paid goods on hand, to dis
pose of them before the repeal takes
effect.
The tax on beer Is placed at 81 per
barrel. reduction of 60 cents; beer
has produced over S112,0oO,o00 Of the
war revenues.
The tax ON tobacco Is placed at @
cents per pound: II reduction of 3.d
cents. Tobacco has produced over S54,-
0OOOOO of the war revenues.
The repeal of schedule \ Of the law
etc. certificates of stock, sales or agree
ments, stock transactions, inland bills
of exchange. bills of lading, indemni-
flying bonds. certificates of profits,
brokers' contracts, custom house en-
tries, warehouse entries, steamboat
passage tickets. These articles have
produced about Sf20,o00,000 of war
revenues.
The repeal under schedule b includes
the tax of ! cent per pint bottle on
wine to . cents on bottles over pint;
and legacy taxes. These articles have
produced over S15.0OO.0OO of war rev
enues.
The special taxes wiped out by the
repeal are those on bankers and brok-
ers. dealers in grain securities, etc.
pawnbrokcrs. custom house brokers,
proprietors Of theaters. circuses, exhi-
bitions, bowling alleys and billiard
rooms, and dealers in and manufactur-
ers of tobacco and cigars. These have
produced about S20,000,OO0 of war rev
enues.