Jasper County Democrat, Volume 4, Number 13, Rensselaer, Jasper County, 6 July 1901 — NEW TRADE YEAR BEGINS. [ARTICLE]

NEW TRADE YEAR BEGINS.

Outlook for a Large Volume of Business Baid to Be Bright. Uncle Sum on Monday made the American people a present of *40.000,000. With this act of generosity he opened up the new fiscal year, and the officials of the treasury department predict that it will be the most phenomenal year in the history of the government, not excepting even that which closed when the treasury shut its doors Saturday night. This donation comes in the shape of * reduction in the war taxes the people have been paying for three years in order to meet the extraordinary expenses caused by the war with Spain. Manyof these taxes will remain upon the statute books, but the most wnnoying of them have been lifted. The stamp taxes Imposed upon bank checks, promissory notes, telegrams, telephone messages, mortgages, leases, express receipts, money orders, proprietory medicines, etc., have all been repealed. Perfumery and cosmetics and chewing gum have also been released from ths bondage of war taxation, while ten millions have been cut off of beer. Bank checks have yielded an annual revenue of between *6,000,000 and *7,000,000, nnd promissory notes almost *4,000,000. Telegrams at 1 cent each have paid tribute to the extent of *750,000 a year and money orders a little more than *600,000 a year. Patent medicines have supplied almost *4,000,000 a year of the war tax. Insurance, leases and mortgages have furnished another *4,000,000, and the extra tax on cigars and tobacco *10,000,000. Hereafter some of these taxes will be collected in modified form. Beer drops from *2 a barrel to *1.60 without the usual 7% per cent discount. The special tax on cigars and cigarettes is reduced and the tax on legacies amended, so as to not include legacies to charitable, religious, literary and educational institutions. Notwithstanding these reductions, and lightening off of there should yet remain about *60,000,000 a year imposed during the days when revenues were being provided to prosecute the war. The United States ended Saturday ths greatest fiscal year in Its history. Its exports reached In round numbers *l,500,000,000—which broke not only all American records, but ail corresponding records in the world. In the great year ending with 1890 the United Kingdom exported more thau this, ineluding ths immense volume of goods it merely transshipped, but Its figures of domestic exports have never touched those reached in the year just closed by the United States. • - Patronise thoss who advertim.