The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-09-20
TRAINERS DRAFT
WAR TAX BILL
Measure, as Completed, VIII
Yield Extra Revenues of
$I05.0OO,0OO.
LIST OF LEVIES GIVEN
LIST OF LEVIES GIVEN
Stamp Tax Section. Providing $3l.-
100000. Becomes Automatically In
operative December 81. 1915.

operative December 81. 1915.
Democratic members of the Commit
tee on Ways and Means yesterday COM
pleted the draft Of the emergency reve-
nue. law Of 1914. According to the es-
innate of Its trainers the measure viii
produce an additional revenue Of $685.
100000 annually, but the stamp tax
section of the bill has been arranged
to become automatically. imperative on
December 81. 1915.
This section of the bill as drafted is
expected to return a revenue of $751;
OoO, 900. Therefore. the net permanent
increase in the revenues of the United
States as projected by the measure
will be $74, 100000. Chairman Under
wood expressed the hope, however, that
an OF the bill might be unnecessary
by the expiration of the period men
toned.
Special Tax Levies.
The following will be the special
tax levies added to the existing in
ternaI revenue laws Of the United
States:
A tax of $50 per barrel on beer.
laser beer, ale, porter, and other sim
liar fermented liquors.
A tax Of two cents per gallon on gaso-
line. ......
A tax on the domestic manufacture of
wines containing more than per cent
of saccharine matter, twenty cents per
gallon, and upon dry wines, of twelve
cents per gallon.
The following special taxes as con-
tanned in the Spanish war revenue law
of 1895 will be included in the bill: A
tax upon the capital of bankers, of s.
per 81 900 of capitalization. This is at
the same rate as the law Of 1885, except
that a minimum Of $50 upon each banker
was set by that law and no differentia-
ton was made in the case of banks with
less than $4,000 capital. The $4,000 limi-
tation has been stricken out of the new
bill.
Stock and bond brokers will pay a
special tax of $50.
Pawn brokers will pay a special tax Of
80.
Commercial brokers will pay a special
tax of So
Custom house brokers will pay a tax
of $40.
The proprietors Of theaters. museums.
music halls, in ,itie5 of more than Is. 900
population. will pay a tax of 800. The
proprietOrs of circuses gill pay a tax
Of 500; proprietors of all other public
exhibitions or shows for money. will pay
a tax of so, and proprietors of bowling
alleys and billiard rooms will pay a tax
of s. for each alley or table therein.
Tar on Tobacco.
The law of 1898 is re-enacted in SO far
as dealers in leaf tobacco are concerned.
Dealers whose annual sales do not ex-
coed $1,000 pounds shall each pay s.;
dealers in leaf tobacco whose sales ex-
coed 5000 pounds and do not exceed |
10000 pounds shall pay 81. and If their |
annual sales exceed 100, 0oe7 pounds the I
tax shall be S24
Manufacturers of tobacco and manu-
factTers of cigars and dealers in to-l
bacco. except leaf tobacco as specified. |
shall pay universally a tax of $3.50. The
following will be the stamp taxes under |
schedule A:
The tax upon bonds debentures or GER
tifcates of Indebtedness will be 5 cents
on each 500 of face value, or a fraction
thereof, and there shall be a tax of 2 |
cents on the transfer of such bonds, |
debentures, or certificates of Indebtedness
whatsoever.
Upon each sale, agreement of sale, or
agreement to sell any product or mer-
chandise at any exchange or board of
trade for present or future delivery,
there will be a tax of ! cent for each
800 of value of said sale or agreement
The 2-cent tax on each bank check,
draft, or certificate of deposit, which ap-
peared in the law of 1895, will not be re-
enacted.
The tax an bills of exchange domestic,
certificates of deposit drawing interest,
or orders for the payment Of any sum of
money otherwise than at sight or on
demand, and on prOmisOry notes, will be
2 cents per 500 of value
The tax on bills of foreign exchange
and letters of credit, which appeared in
the law of 1895, will not be re-enacted.
Express and freight receipts will be |
taxed each / cent, as in the law of 1898.
Telegraph and telephone messages will |
be taxed l cent for each message.
Brokers notes or memoranda of sale |
will be taxed 10 cents
Conveyances, deeds, instruments or
writings whereby lands, tenaments or
other realty are sold, will be taxed 80 |
cents where the consideration exceeds |
800 and does not exceed $500, and adj |
ditional 500 or fractional part thereof, |
50 cents
cents on each 800 of the amount insured |
will be re-enacted.
The marine, inland and fire insurance |
tax Of the law of 1898 of one-half of |
per cent of the premium charge will be |
re-enacted.
The casualty. fidelity and guaranty in
surance tax of one-half of l per cent |
Of the premium charge, as in the law |
of 1898, will be re-enacted.
The mortgage tax of 25- cents on |
the first $1,000 of a mortgage and 25 |
cents for each additional $500 will be
re-enacted as in the law of 1898.
Passage tickets will be taxed 81 II /
costing not exceeding $50 and SO IL
not exceeding $50. and IS if exceeding
$50.
Powers of attorney and proxies for
voting at elections of officers of corpo-
rations, except religious, charitable, or
literary societies or public cemeteries
will be taxed 10 cents
Powers, of attorney to sell or convey
real estate, etc, will be taxed q cents
A tax of cents on each chair car
or sleeping car ticket will be in this
bill. This is the only advance in the
tax rate from the schedules of the law
of 1898 to be included in the new meas
urS.