New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-09-20
Democrats Frame Bill to
Raise $lO5,OOO,0OO Emer-
gency Revenue.
TO BE CALLED IN
HOUSE ON THURSDAY
With a Few Omissions, Measure
Is Identical with That
of 1898.
lFrom The Tribune Bureau

NASHlnRtOIs Otpl. ~ briloNiotiN
members of the Ways and Means Com.
mittee completed late to-day the emer-
Rency revenue bill which is to raise
500, 900 900 annually to offset losses
in customs duties. Mr.. Underwood
estimated that the bill as it now stands
will bring in s1O5,OO0,0O0 a year. The
majority members to-day adopted a
provision that the STAMP tax" section
of the bill shall cease to be operative
after December 81. 1915.
Except for the rates on beer, wines
and gasolene, the Democratic measure
closely follows the Especial tax" and
STAMP tax" sections of the Spanish
war revenue bill. The majority mem
bers have lifted, almost in toto, numer-
Gus items of the old measure and in
so doing they believe they have re-
duced the opportunity for such criti-
cism as hailed the proposal to tax
railroad freight. Protests of Califor-
MIA wine producers were unavailing to-
day, the Democrats insisting on the
rates tentatively agreed upon two days
ago
Mr. Underwood said he would re-
write and introduce the bill on Monday.
1t will be reported from the Ways and
Means Committee Tuesday and called
up in the House Thursday. The rates
agreed on are as follows:
Beer, 81 so per barrel; gasolene, :
cent per gallon; domestic dry wines
~ cents a gallon; domestic sweet
wines and all wines containing more
than 8 per cent saccharine, 20 cents
per gallon.
Bankers, 81 upon each $1,000 Of cap
ital and surplus employed; savings
banks without capital stock TO be en-
empt.
Stock and bond brokers, $50; pawn
brokers, $20S commercial brokers, go;
custom house brokers, $40.
All theatres in towns Of more than
10, 900 population, 800; circus proprie-
eors, 500; proprietors of other public
exhibitions or shows not specifically
mentioned, $40; proprietors of bowling
alleys and billiard rooms, SO for each
table or alley.
Tobacco dealers, 81 80 each, regard
less of the size of the business done.
The STAMP taxes" and omissions are
as follows:
Bonds. debentures and certificates Of
indebtedness. cents on each 800 OF
face value or fraction thereof.
The tax on bank checks, drafts and
o,r+i6ootac of 1anncita IL opoittpd
Bills and agreements of sale, one
cent on each 500 or fraction; promis-
sorry notes, two cents on each 500.
Tax on foreign bills of exchange and
letters of credit, omitted.
Express and freight receipts, one
cent.
Telephone and telegraph messages,
enc cent.
Indemnity bonds, so cents.
Certificates of profit, two cents on
each 500; certificates of damage, 20
cents.
Certificates of all descriptions re-
ouired by law and not otherwise specl-
fed, 10 cents.
Charter contracts and agreements for
the charter OF any ship, tax omitted on
constitutional grounds.
Brokers' notes or memorandum OF
sale Of any goods or property. 10 cents.
Conveyances or deeds, 80 cents l.
more thar 500 and less than $500, and
50 cents on each $500 or fraction.
Entry Of any goods or merchandise
at any custom house, 70 cents to ST.,
according to value.
Life insurance policies, cents per
500; marine, inland and fire insur-
ance, one-half of l per cent on each
81; casualty and fidelity insurance,
one-half of Per cent on each 81.
Leases and contracts for the hire,
use or rent Of any land or tenement,
emitted.
Menifests for custom house entry or
clearance for a foreign port, omitted.
Mortgage or pledge of land, estate,
real and personal property, 70 cents on
81, 900 to 81 500 value, and 20 cents ad-
ditional on each $500 or fraction IN
excess of $1,000.
Passage ticket by any vessel from a
United States port TO foreign port, 81
if cost is $50 or under, So if cost is
more than $50 and not above $50, and
So if costing more than 500.
Powers Of attorney and proxies at
elections for officers of incorporated
companies, 10 cents; power of attorney
TO sell real and other property, 20
cents.
Protested paper. 20 cents.
Tax on warehouse receipts, omitted.
On each seat in a parlor or sleeping
car. 2 cents. This represents the only
increased rate in the bill, the Spanish
war tax being l cent.
The taxes enumerated above in
Schedule A, known as the stamp tax
section. "shall not be effective after
the 31st day of December, 1915" All
other taxes are to remain in effect until
repealed by subsequent legislation. The
stamp tax section, which remains IN
operation slightly more than year, is
depended upon to produce $3l,OOo,OOO