Evening Republican, Volume 21, Number 243, Rensselaer, Jasper County, 16 October 1918 — ADOPT STAMP TAX OF 2 CENTS ON CHECKS [ARTICLE]

ADOPT STAMP TAX OF 2 CENTS ON CHECKS

Washington, Oct. 15. —A stamp tax of two cents on all bank checks is provided for in an amendment to the war revenue bill adopted by the senate finance committee, which is revising the house draft. The amendment was adopted by a vote of eight to six. Many members, ' however, expressed a doubt as to its acceptance by the senate. Such a* tax is opposed by treasury department officials and many senators because it not only would be a serious inconvenience to business but would tend to discourage thrift and to encourage hoarding. The amount of revenue from such a tax would be small in the opinion of experts. f Consideration of the revenue bill progressed so rapidly today that Chairman Simmons tonight reiterated his prediction that the bill would be completed by about October 25.