Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-08-19

mr. ~ ;he population into holders OF
wr oan bonds
rlt..:> DISTRICT TAN
MILLS N NEW PROPOSALS
~, ss leave the way loan aside for
-iu.rcn, aud turn to tho ncw tax
f. gpo Els There arc eleven district
uiii. ,.hich. as in the case Of last
as taxation. l propose 10 outline
n,cHy
/ POSTAL rates. ctc.--Var.ous in
rr4a~ea on letters, postcards. parcels.
;cle.:r.ms and telephone charges They
rrs go come into force on October
and gre expected TO yield s3l.25o,OoV
bringing the total net revenue from
he postal service to about $50 100000.
u Cl). Tax on mircra! waters LEM
ciiadc. c;c.-Thc tax, a graduated ono,
- levied on bottled drinks and is pad
in the frst instance by the makers.
The yield is estimated a. about 81
10000.
II 90. Increase Of customs duties
ON tea coffee cocoa and chocolate
raw corrcc pays an extra Il cents a
mound: tea, =, cents; raw cocoa beans.
: gents: cocoa powder, 10 cents The
additional yield expected : siS.,5o.coo.
making tho total revenue from this
source a, 100000.
III and Nv Increase in the beer
duty and customs duty OF hccr--ihe
basis Of the beer excise duty. which
hitherto has fallen on the raw ma
tcrial from which beer - made. is
changed and the tax is to lie levied
on all beer produced a; tho moment
OF removal from the brewery or Of
consumption within the brewery. The
tax Is graduated accordin TO the
brewery output, the class Of the beer
and is graduated There * also
transit duty a, the internal customs
frontier between two states; ,he Gus
toms duty on beer is also Increased
though the changes are Lui'nportant.
Yield: IS 100000 raising the total rev.
enuc from beer TO si2s."50.0oc
WINES IN POSSESSION or
CONSUMER TO BE TAXED
V and VI. Tax on still wines and
increase in duty on sparkling wines
The tax. 20 per cen; al valorcm. is
payable by the dealer ~ S"oWcr, on
the sale OF the wine to ne consumer.
and Is TO be imposed retrospcctivoly
on wines OF 1918, 1916 and 1917 in the
possession Of consumers. Net yield:
over s25.0o0.oOo. The extra yield OF
the increased duty on sparkling wines
is s5.00O.000.
VII. The spirit monopoly-A govern
mcnt. distillers' and consumers council
will fix the prices for tho distilicrs
and consumers on basis which will
secure 10 the empire Il net revenue OF
$40 per hcctolitcr. The total net rcve-
nue. is estimated at s2ll,T51. 600. an in
crease of sl62. 100000.
VIII. Tax on transactions-The ex-
isiinE tax, first imposed In July. 1919.
is increased from one per 1000 % five
per 1000, and it now falls on services
OF profess ional men, etc, as well as
on Tho product of sales of goods. There
arc certain exceptions, including the
salaries OF clerks and officials Much
higher rates arc levied on final sales
% luxury articles The increase is
estimated at S25o00o,cj0. bringing the
total to S30G .000,o 0O.
IN e. y. Increase and extension OF
the stamp duties on stock exchange:
(a) Increased tax on new capital is
sues, increased duty on foreign sccuri-
ties sold in Germany. Extra
yield. s%.750,00o
tb) Increased tax on transactions
Oevicd now for the first time on war
loans ana state hondS). Yield
oil now rates. s3750D,000.
tc) Increased tax on dividend war
rants and on bonuses to directors. etc
Extra yield. s2.3I5,000.
I'D The chief innovation: a tax on
the interest on deposits paid by banks
savings banks etc. Extra
yield, 100000.
tc) Small increase in the stamp tax
on hills OF exchange. Extra
Weld, si.0oo,000.
NJ. War tax" on compa n ics--A tax
OF roughly co per cent of trading COM
panies' excess profits The yield rs
expected to he from Sl25.o00,000 to
s150,00o,00o.
Rcvertins TO the war loans. we see