CONGRESS. (TAX REDUCTION.) 



177 



as a " bucket shop " shall pay a stamp tax of 2 

 cents on each $100 in value or fraction thereof, of 

 the merchandise covered or pretended to be cov- 

 ered, and also a tax of 2 cents on each $100 on the 

 face value or fraction thereof, of all stocks, bonds, 

 or other securities covered or pretended to be cov- 

 ered by each and all of such contracts, agreements, 

 trades, or transactions: Provided however, That 

 the payment of any tax imposed by this para- 

 graph shall not be held or construed to exempt any 

 such person, association, copartnership, or corpora- 

 tion from any penalty or punishment provided by 

 the laws of any State for carrying on such busi- 

 ness, or the making of such contracts, agreements, 

 trades, or transactions within such State, or in any 

 manner to authorize the commencement or con- 

 tinuance of such business or the making of any 

 such, contracts, agreements, trades, or transactions 

 contrary to the laws of such State, or in any place 

 prohibited by municipal law; and on or before the 

 first day of April, 1901, every such person, asso- 

 ciation, copartnership, or corporation, as aforesaid, 

 shall, for each office or place of business and for 

 each branch office or place of business, wherever 

 established, pay a special tax of $12.50, and on or 

 before the first day of July, 1901, and annually 

 thereafter, for every such office or branch office, 

 a special tax of $50, and such taxes shall be in 

 addition to all other special taxes imposed by this 

 act. Every person, association, copartnership, or 

 corporation proposing to engage in or continue the 

 business aforesaid shall, before commencing such 

 business, file with the collector or proper deputy 

 collector of the district in which it is proposed to 

 carry on such business a notice in writing under 

 oath, and in such form as the Commissioner of 

 Internal Revenue may prescribe, stating the name 

 of the person, association, copartnership, or cor- 

 poration intending to engage in such business, the 

 names of the members of any such association or 

 copartnership, and the names of the officers of any 

 such corporation, together with the residences of 

 all the individuals whose names are thus required, 

 and the place (including street number) where 

 such business is to be carried on, and it shall be 

 the duty of the collector of internal revenue to 

 keep in his office a book in which shall be recorded 

 a complete copy of all such notices, and such book 

 shall be open to public inspection. Every person, 

 association, copartnership, or corporation conduct- 

 ing or transacting the business aforesaid shall keep 

 or cause to be kept just and true books of account, 

 wherein shall be plainly and legibly recorded on 

 the day of the making of every such contract, 

 agreement, trade,, or transaction a complete and 

 exact specification thereof, including the date 

 thereof, the other party thereto, and the quantity, 

 price, and the gross amount in value of each article 

 or commodity covered or pretended to be covered 

 by each such contract, agreement, trade, or trans- 

 action, and such books shall at all reasonable times 

 and hours be subject to the inspection of the col- 

 lector, deputy collector, and the inspector of in- 

 ternal revenue or any duly authorized agent of the 

 Internal Revenue Department, and every such per- 

 son, association, copartnership, or corporation shall 

 deliver to the other party to each such contract, 

 agreement, trade, or transaction, at the time of 

 making the same, a written memorandum also 

 containing the complete and exact specifiation 

 thereof, above referred to, to which the proper 

 stamp shall be, before delivery, affixed. Every 

 person, association, copartnership, or corporation 

 who shall, in his or their own behalf, or as agent, 

 engage in or continue in the business hereinbefore 

 defined without having filed the notice herein re- 

 quired, or who shall fail or refuse to keep any such 

 VOL. XLI. 12 A 



book or make any return, report, or affidavit re- 

 quired as aforesaid, or shall make a. t'.ilsc fraudu- 



lent, or partial return, report, or siilidavil 

 fail or refuse to deliver a written in. -in. 

 as hereinbefore required, or shall in anv 



or shall 

 inium, 



spect violate any of the provisions of 1 ii- para- 

 graph, shall, besides being liable for the amount 

 of the tax or taxes herein prescribed, be 'h-citicd 

 guilty of a misdemeanor, and upon coriviclion 

 thereof shall, for each and every such oH'cnse, 

 pay a fine of not less than $500 nor more than 

 $5,000, or be imprisoned not less than three months 

 nor more than two years, or both, in the discretion 

 of the court. All provisions of law now in force 

 relating to the collection, recovery, and enforce- 

 ment of taxes, fines, and penalties imposed under 

 the law concerning internal revenue and not in- 

 consistent with the provisions of this paragraph 

 shall extend and apply to the recovery and enforce- 

 ment of the taxes, fines, and penalties imposed by 

 this paragraph. 



"'4. Bill of exchange (inland), draft, or order 

 for the payment of any sum of money, otherwise 

 than at sight or on demand, and for each renewal 

 of the same, for a sum not exceeding $100, 2 cents; 

 and for each additional $100 or fractional part 

 thereof in excess of $100, 2 cents. 



"'5. Bill of exchange (foreign) or letter of 

 credit (including orders by telegraph or otherwise 

 for the payment of money issued by express or 

 other companies or any person or persons), drawn 

 in but payable out of the United States, if drawn 

 singly or otherwise than in a set of 3 or more, 

 according to the custom of merchants and bankers, 

 shall pay far a sum not exceeding $100, 2 cents, 

 and for each $100 or fractional part thereof in 

 excess of $100, 2 cents. If drawn in sets of 2 or 

 more: For every bill of each set, where the sum 

 made payable shall not exceed $100, or the equiva- 

 lent thereof, in any foreign currency in which 

 such bill may be expressed, according to the 

 standard of value fixed by the United States, 1 

 cent; and for each $100 or fractional part thereof 

 in excess of $100, 1 cent. Excepting that bills of 

 exchange drawn against the value of products or 

 merchandise actually exported to foreign coun- 

 tries shall not be subject to this tax, provided that 

 such bills of exchange shall be accompanied by 

 proper invoices, and receipts, bills of lading, or 

 vouchers, showing that goods of a value at least 

 equal to the amount for which said bill of ex- 

 change may be drawn shall have been exported. 



" ' 6. Freight : It shall be the duty of every 

 railroad or steamboat company, carrier, or cor- 

 poration, or person whose occupation is to act as 

 such, except persons, companies, or corporations 

 engaged in carrying on a local or other express 

 business, to issue to the shipper or consignor, or 

 his agent, or person from whom any goods are 

 accepted for transportation, a bill of lading, mani- 

 fest, or other evidence of receipt and forwarding 

 for each shipment received for carriage and trans- 

 portation, whether in bulk or boxes, bales, pack- 

 ages, bundles, or not so enclosed or included; and 

 there shall be duly attached and canceled, as in 

 this act provided, to each of said bills of lading, 

 manifests, or other memorandum, and to each du- 

 plicate thereof, a stamp of the value of 1 cent: 

 Provided, That but one bill of lading shall be re- 

 quired on bundles or packages of newspapers when 

 enclosed in one general bundle at the time of ship- 

 ment. Any failure to issue such bill of lading, 

 manifest, or other memorandum, as herein pro- 

 vided, shall subject such railroad or steamboat 

 company, carrier, or corporation, or person to a 

 penalty of $50 for each offense, and no such bill 

 of lading, manifest, or other memorandum shall 



