Page:United States Statutes at Large Volume 40 Part 1.djvu/348

 SIXTY-FIFTH CONGRESS. Sess. I. Ch. 63. 1917. 329 nineteen hundred and seventeen, during the existence of the resent P ’°"·“· "·'*’”· war. The compensation of postmasters at offices of the fourtlh class .,m({,’§_f°' f°°"h mss shall continue to be computed on the basis of the present rates of ost . _ _ _ P Snac?1109. That where postmasters at offices of the third class ,,t‘°§'},?,‘§"§{‘,{‘,'s°l,°,§‘f,,,'§’§‘§ have been since May first, nineteen hundred and seventeen, or here- gfggjstcf *¤ ¤m*=¤'Y after are granted leave without pay for military purposes, the Post- ` master General may allow, in addition to the maximum amounts which may now be allowed such offices for clerk hire, in accordance with law, an amoimt not to exceed fifty per centum of the salary of the postmaster. _ Sec. 1110. That section five of the Act aplproved March third, b,}'},§?,Y‘i§°§f" “""°” nineteen hundred and seventeen, entitled "An ct making appro ri- }E’g,{;;°· gig°°ggi for ations for the Post Office Department for the year ending June thir- ommmm use, sw., tieth, nineteen hundred and eighteen," shall not be construed to apply “°° "'°”‘1’i“’°‘ to ethyl alcohol for governmental, scientific, medicinal, mechamc , manufacturing, and mdustrial purposes, and the Postmaster General shall prescribe suitable rules and regulations to carry into eifect this section in connection with the Act of which it is amendatory, nor shall said section be held to prohibit the use of the mails by regularly ordained ministers of religion, or by officers of regularly esta lished churches, for ordering wines for sacramental uses, or y manufac- ,,¤*§u‘€,{,';",§'f°"'“°“‘°“ turers and dealers for quoting and billing such wines for such pur·— poses only. ' Trrmr XH.—INconm Tax Aunnnunrrrs. more lggmiurm- Sec. 1200. That subdivision (a) of section two of such Act of Sep- ,}{°*·"°·P·"’·°"“°““‘ tember eiglhth, nineteen hundred and sixteen, is hereby amended to Post,p.1150. read asfo ows: Numm umd " (a) That, subject only to such exemptions and deductions as are ° ° hereinafter allowed, the net income of a taxable person shall include gains, pronts, and income, derived from salaries, wages, or compensa- ‘ tion for personal service of whatever kind and in whatever form paid, or from professions, vocations, businesses, trade, commerce, or sales, or dealings in property, whether real or personal, growing out of the ownership or use of or interest in real or tpersonal property, also from interest, rent, dividends, securities, or e transaction of any business carried on for gain or profit, or gains or profits and income derived from any source whatever/’ ` Section four of such Act of September eighth, nineteen hundred _§°‘·“°·P·’“»°m°¤°· and sixteen, is hereby amended to read as ollows: ` f" Sec. 4i The following income shall be exempt from the provisions E‘°m"""“"‘ o this tit e: _ _ "The proceeds of life insurance policies paid to individual bene- s.,I§l*° i”“"‘“°° °°"` ficiaries upon the death of the insured; the amount received by the insured, as a retum of premium or premiums paid by him under life insmance, endowment, or annuity contracts, either during the term or at the maturity of the term mentioned in the contract or upon surrender of the contract; the value of property acquired by gift G“”·°*°· bequest, devise, or descent (but the income from such property s all be mcluded as income); interest upon the obligations of a State or rgilstsaristemll oiiigi any political subdivision thereof or upon the obligations of the “°'“· United States (but, in the case of obligations of the United States Ex°°°°°°‘ issued after September first, nineteen hundred and seventeen, onl if and to the extent provided in the Act authorizing the issue thereog or itsapossessions or securities issued under the provisions of the "°’·3”· *’·36°· Iieder Farm Loan Act of July seventeenth, nineteen hundred and Pam t d i sixteen; the compensation of the present President of the United pmsmcgm. U ng States during the term for which he has been elected and the judges  stm °m` of the supreme and inferior courts of the United States now in office, '