## April 11. 1868.

### American Finance.

Internal Revenue Act von 1864, besides income tax, heavy series of stamp duties, excise on spirits and tobacco, tax on cotton, tax of 6% on all sorts of manufactures.

Under this Act 39,700,000l. raised in Year ending 30. June 1867, wovon 21,900,000 „industrial“ taxe … Jezt bill introduced, repealing all the „Industrial“ sections of the Revenue Act, except those affecting petroleum, wines, manufactured tobacco, and a few other articles. The bill, however, imposes on those who sell more than $5000 worth yearly of any manufactured commodity a tax of 2$ p. 1000 on the exccess excess over \$5,000 – which is equivalent to a tax of 4s. P.Ct. on every one who sells more than £750 of goods annually. Against this bill letter of MCulloch (the Treasury Secretary) d.d. March 16, 1868. Bill has passed the House, now before the Senate.

Es würde sein Diminution of Taxes: £18,000,000 ⦗Cotton Tax Repealed £3,000,000 und Loss by proposed Repeal of Industrial Taxes £15,000,000.⦘
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