The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1864-12-15

saiss 8 8, s No 244.
|tsre or destssetion % - dsts Of presen
tdtio1 1od skat be b dissce1d1to 6suns<
from the British GoverDms sut payment ii
fall for all ships Of ssryoes Destroyed y
Aforesaid.
NJ Johason objected. to the resolution
which lies over.
Mr. Doolitsls wished 70 have the reso.
iatsoa u relation 10 taxation offered by
him on Monday taken from the table and
referred to the committee on Finance.
poolit.le faid: desire to call the A..
tention Of tho members Of the Comnistee
90 Finance to the special points mes
tloned without at al entering into dis.
cussiOn. The resolution instrncts .he
COMMITTEES to inquire into the propriety Of
: tsx on all sales Of both real and personal
property, according % tho bes. estimat@
that can be msde. The smallest anoupt
that would b produced By The tx xould
b @75. .0O0, 900 year. II net only in
poses tax upon sales sctusliy made, bat
upon III Who sell stocks. gold and produce
II will have more Of restrsinino infiu.
encs on speenlation in gold than any gold
bills which can be passed which shall
make Il penal offeace TO sen gold 10 the
market. or make any distinction between .
gold and paper cnrrency. It also propo
ses that the committee shall inquire lot O
the propriety Of adding : tax Of Is per
cent. to all the raiiroad fares Of the .soun
try. including street railroads. steam boat
and ferries, making such companies tax
Rsthefers for the benefit Of the government
This Is source of income and revenue
which 10 the most Immediately accessible
of any upon which the Government ca n
lay lie hands, aad which would be received
IN large Quantities from powerful compa
mes whose revenue would become im.
mense.
This is the time when we should take
hold Of these means which will produce
revenue, for the money We must have.
Another point 10 the resoIution is sim
ply to enquire whether it is not best to
prevent the erg ani1ation of the new bank.
ing companies, allowing at the same time
those baaks now in existance to Withdraw y
their circulation and to go into operation
under the general banking law.
Mr. Dsolit.le then explained the All
provision Of his resolution in referensa to
The substitution Of other interest bearing
notes for those now in circulation.
Mr.. Shermau-Before q vote is taken
| would like TO say a word or two. /
have no objection to the reference of the
resolution. but will state that the Com
mit,ee on Finance have already this tub
jsci nader consideration as recon- uepded
by the Secretary OF the Treasury in his
annual report, and By the PRECEDENT O
the United States in his annual message
All these points at issue will be con
sidered In this committee with any reso.
luton on the subject.
MFR. Sherman explained further that
while i. was well enough for Senators to
express anxiety on the subject all bills 10
raise revenue must originate in the House
Of Representatives. The Senate should
remember that at the last session it passed
resolution for special income tax and
anil the House sent it back on the rroune
that all such measures should originate il
the House. He though, this would crea.e
. n,rosersy with the House, which he de
sired TO avoid. The Senate must await
their action.
Mr. Sherman believed there was nec
essisy for increased taxation. There wer
several reasons for it. The soldiers wer
now servingin hefeId. enduring the hard
ships Of military service, while citizen
we're reaping rich profits from the war b,
engaging in business and were doing bel
ter than they had done during any previ
Gus year. He thought it was but righ
they who are reaping the profits of th
war should pay liberally in taxes. If "
increased our department and put thos
sxes on future generations We com pelle
the soldiers who had fought our battle
to bear the expenses Of the war. Thi
wonld be unjust.
Mr.. Brown-I have no objections 10 th
reference Of this resolution to the Con
mittee on Finance, if it was introduce
simply for setting forth the views enter
taiued BY the Senator from Wisconsin
Mr. Doolitle), of indicating the direc,io
10 which he thought inquiry should b
made, but If it Is going to that Committe
by general consent aud is to be taken a
any indication that the Senate concurs i
the suggestion made, shall for one sa
that differ very widely in regard to th
policy he has indicated and the effects I
follow from that which he seems to an,ic
pate. l will add but one more word an
say this, that / think gentlemen Al
perhaps mistaken in regard to the exter
to which taxation can be carried, and tbs
we sre perhaps nearer to the point 9
which it can b properly borne than man
persons imagine. Mr.. Brown continue
his remarks, advocating reduction Of e,
pendiiure in the conduct Of the Govern
ment
/ Mr.. Doolittle-I agree with the S.p
tor from Missouri entirely in what he ca,
abou. the necessity Of reducing expense
10 every possible way. ! will 20 with hi
10 any effort to reduce them snd to con
bel ths administration 10 every dspar
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