Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1920-06-03

THE BURLINGTON FIX
SOLDIERS BONUS BILL AS FACTOR IN THE CAMPAIGl
When the Vermont department the American Legion
met IN Montpelier recently an issue which destined
no other question of domestic military financial
for years The question whether Congress should be
bill The leaders of the forces for against respe
lively Major H. Nelson Jackson of Burlington and President
won by large majority
The sequel to the struggle which the Legion thus
Press this week. The bill passed the House of Repre-
sentative by vote Of 2s9 to 49, and the Senate
where has been referred committee. There opponents
say it doomed to sleep at least until after the national
venons have done their worst best and the presidential
campaign is well under way.
o. The bill sontempaes the raising Of the Of
close Of the Civil war; Which was s2775oooooo
The new taxes and increases in existing taxes designed to
raise the additional required meet the heavy expen
dures account of the bonus payments include excise
tax of 10 cent stock dvdends of onehaf of
cent stock exchange and grain exchange transfers. grad
uated tax the manufacture of tobacco about th
tyhree per increase present taxes
surfaces of per or incomes from $4,000 to &c.
600 to $26OOO and three cent incomes $26c0
it is required that between December 1920 and Novcm
Der 80 1928 there shall be tax of two cents each $40
ferred unless the selling price in value
in which the tax shall two $40 fraction
thereof of the selling price Where the shares without face
value the tax shall be 20 cents share SELL
ing price is in of 500 share in which the
shall be two cents.on each $40 fraction thereof the selling
price.
After December l. 1928 the tax will each
$500 fraction thereof Of face value unless the selling price
in of the face value when the shall be
each 500 fraction thereof of the selling price
of shares without face value the be
each share unless the selling price exceeds 800 share in
which the tax shall be two each $oo fraction
thereof of the selling price.
The sections relating to produce exchange taxi provide
that each sale or to sell products
chandse under the rules and exchange board
of trade for future delivery the tax shall be follows
cents for each $40 fraction thereof of the selling price of
the products covered by the sale agreement After Deem
per 1928 the tax be two cents for each $500 fra
ton thereof of the selling price.
The real estate tax is to be five cents for each $40 frac
ton thereof receipts for payments sales Of real estate
and November 80, 1923.
tween December 1920 November go 1928 This tax w
addition to that now required, is as follows:
rs oOo Cigars weighing more than three pounds
per Ooo or imported to retail at not
at than eight and s than IS pe
o0o cigars to retail than and not more
tnan ~ cents ~ per OOO cigars to retail at than 20
Cigarettes weighing not than three pounds per 1000
are assessed 81 O0 and cigarettes weighing than
tiona On tobacco and snuff the additional tax two cents
per pound
The stock dividend provisions require every corporation
to special excise tax all dividends declared paid
by on it's own shares after March 49, 1920 of $40 for each
500 of the face value fraction of the shares
dividends declared without face value is to
market value in $1Oo per share which case the
tax shall be computed at the rate of $40 each 500 of such
These taxes are designated as "Victory taxes.
Each vetera2 q the World War have the right to
avail himself of but only of the following plans:
TO receive ased service pay, in other words cash
bonus To&aeive adjusted service certificate which
has face to the adjusted service pay plus per
cent with nere payable for twenty years the rate of
four and half cent compounded annually
such amount being approximately equal 1928 times the ad
usted service pay of the veteran The amount of the face
value of the certificate shall be payable the twenty
years after the date of application he should die during
that period to his beneficiary To receive vocational train
ing aid a. To receive farm loan aid s. To receive
settlement aid
Forty Republicans including Congressman Manu. of ILL
nos regarded the abest paramentaran in Congress-
Chairman Kahn of the House military committee Con-
gresham Greene leading member of the committee s. D.
Fess chairman of the Republican congressional campaign
committee exSpeaker Cannon and other Republican leaders
opposed the in the form in which presented
this time when we face other financial problems
secret that political pressure has been brought
bear both sides Congress for against this
The Democrats at first assumed that Republicans Con-
being responsible for the nations finances legislative
would utterly oppose the project The Democrats
ngy believed to be good thing to push along in order
put the Republicans under the necessity of opposing and thus
antagonizing the ex-service
Later the Democrats discovered that host of service