Sivut kuvina

Office of FISK & HATCH,


New York, March 5, 1883.

Presuming that our friends and correspondents throughout the country would be glad to be promptly furnished with an authentic copy of the new tariff and internal revenue bill, in a form more permanent and more convenient for reference than the columns of a newspaper, we have taken pains to procure, through our own correspondent at Washington, an exact copy of the bill, as passed by both Houses of Congress, and signed by the President, and have had it printed in a form which we trust will meet a general want.

We beg your acceptance of the accompanying

From the best estimates that can now be formed, it is expected that the annual reduction of revenue resulting from the bill, when all its provisions become operative, will be, at least, $75,000,000.

It is estimated that the effect of the bill upon the

ten to twelve millions below the estimates heretofore made for this fiscal year.

It is evident that the general effect of the bill will be to render further calls and redemptions of United States Bonds, to any considerable extent, impracticable for a long time to come.

It will be of interest to Banks and Bankers to notice that the repeal of the tax deposits takes effect at once.

on capital and

Whatever differences of opinion may exist, in different sections of the country and among those interested in particular industries, as to the details of the bill, we believe it will be universally considered a cause for congratulation, among all truly patriotic citizens looking to the general interests of our common country, that the 47th Congress did not adjourn without action on this important question, and leave the country in doubt and uncertainty for another year.

Very truly,




Be it enacted by the Senate and House of Representatives of the United States of America in Congress Assembled:


Capital and

of Banks,



passage of


tax re

also tax on

That the taxes herein specified imposed by the Taxes laws now in force be, and the same are hereby, re- from pealed, as hereinafter provided, namely: On capital Deposits and deposits of banks, bankers and national bank- Bankers & ing associations, except such taxes as are now due Banking and payable; and on and after the first day of July, tions from eighteen hundred and eighty-three the stamp tax on Act. bank checks, drafts, orders and vouchers, and the Stamp tax on matches, perfumery, medicinal preparations moved; and other articles imposed by Schedule A following Matches, section thirty-four hundred and thirty-seven of the and ProRevised Statutes: Provided, That no drawback Medicines shall be allowed upon articles embraced in said 1, 1883. schedule that shall be exported on and after the first day of July, eighteen hundred and eighty-three: Provided further, That on and after May fifteenth, eighteen hundred and eighty-three, matches may be removed by manufacturers thereof from the place of manufacture to warehouses within the United States without attaching thereto the stamps required



from July


Tobacco, tax on

SEC. 2. That on and after the first day of May, eighteen hundred and eighty-three, dealers in leaf turers and tobacco shall annually pay twelve dollars; dealers




in manufactured tobacco shall pay two dollars and forty cents: all manufacturers of tobacco shall pay six dollars; manufacturers of cigars shall pay six dollars; peddlers of tobacco, snuff and cigars shall pay special taxes, as follows: Peddlers of the first class, as now defined by law, shall pay thirty dollars; peddlers of the second class shall pay fifteen dollars; peddlers of the third class shall pay seven dollars and twenty cents; and peddlers of the fourth class shall pay three dollars and sixty cents. Retail dealers in leaf tobacco shall pay two hundred and fifty dollars, and thirty cents for each dollar on the amount of their monthly sales in excess of the rate of five hundred dollars per annum: Provided, Exemption. That farmers and producers of tobacco may sell at the place of production tobacco of their own growth and raising at retail directly to consumers, to an amount not exceeding one hundred dollars annually. Farmers, SEC. 3. That hereafter the special tax of a dealer umbermen in manufactured tobacco shall not be required from tobacco as any farmer, planter, or lumberman who furnishes employees such tobacco only as rations or supplies to his

planters, or


rations to

laborers or employees in the same manner as other supplies are furnished by him to them: Provided, That the aggregate of the supplies of tobacco so by him furnished shall not exceed in quantity one hundred pounds in any one special tax year; that


from taxation.


such supplies, engaged in the general business of selling dry goods, groceries, or other similar supplies in the manner of a merchant or storekeeper to others than his own employees or laborers.

the tax to be


after May 1,

SEC. 4.-That on and after May first, eighteen Tobacco; hundred and eighty-three, the internal taxes on levied on snuff, smoking and manufactured tobacco shall be tures of, eight cents per pound; and on cigars which shall be 1883. manufactured and sold or removed for consumption or sale on and after the first day of May, eighteen hundred and eighty-three, there shall be assessed and collected the following taxes, to be paid by the manufacturer thereof: On cigars of all descriptions, made of tobacco or any substitute therefor, three dollars per thousand; on cigarettes weighing not more than three pounds per thousand fifty cents per thousand; on cigarettes weighing more than three pounds per thousand, three dollars per thousand: Provided, That on all original and unbroken Rebates. factory packages of smoking and manufactured tobacco and snuff, cigars, cheroots and cigarettes held by manufacturers or dealers at the time such reduction shall go into effect, upon which the tax has been paid, there shall be allowed a drawback or rebate of the full amount of the reduction, but the same shall not apply in any case where the claim has not been presented within sixty days following the date of the reduction and such rebate to manufacturers may be paid in stamps at the reduced rate; and no claim shall be allowed or drawback paid for a less amount than ten dollars. It shall be

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