The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1864-07-06

Especial Dispatch to Chicago Tribune. ]
Washington, July 8.
TIE rREAsuRY CHANGE.

Washington, July s.
TIE TREASURY cHAxar.
| The Cabinet appointment was ever 90 i.
cepted with such genuine and thorough
reluctance As the Eecretaryship Of the
Treasury BY Senator Fessenden. 1t was
not till late yesterday Afternoon, mora
than thirty hours after his confirmation.
that be forced himself to consent to fore.
60 oil personal considerations. Even the
serious point Of impaired health, ia dif
ference to the universal decree Of the
country reaching him through every pos
sible channel and to the repeated solicita-
tions Of the President. who would not
permit a refusal
Secretary Fessendon's heads of bureaus
and other subordinates have voluntarily
suggested modes in which they NAV
tighten their labors as much a. possible,
that he may be enabled to sustain his
strength for the highest duties of ! minis.
ter of finance.
Mr.. Sherman, who by Mr. Fessenden's
acceptance of the Secretaryship, is chair.
man of Senate's Finance Committee, in q
speech at 2 o'clock this Sunday after.
noon, criticised Mr.. Chase and his late
letter to the Ways and Means Commit.
tee. as calculated TO produce unnecessary
distrust in practical operations Of the tax
bill, He said that the bill imposed as
heavy duties as in the opinion Of Secre
tary Fessenden, it was advisable to Law
ut present, and he would not ask further
legislation from Congress in the matter
OF raising Revenue except the passage of
the House bill for special income tax OF
per cent. which was in the form de-
sired by Mr.. Fessenden.
Mr.. Morrill,. in bringing forward this
! income Tax bill, also condemned Mr..
Chsse's estimates. saying the Revenue
bill would, in the opinion Of the Ways
and Means Committee, produce .. least
more than forty millions more than the
figures forth in Mr.. Chase's letter..
As soon as it should be fairly in opera
ton, that Committee estimate that the
new Income Tax viii yield twenty mil
lions more.
Commissioner Lewis, who was out of
town when Mr.. Chase sent the estimates
ofthe Commissioner of Internal Revenue,
and Collector Orton. retain the opinion
that with the tax on whisky remsining
at one dollar, the Revenue bill would have
yielded two hundred and City. seven mil
lions, and that with the tax at two dollars.
as finally agreed upon, it will give two
hundred and eighty-seven millions as soon
as put into operation ia all its parts.
The House spent about four hours last
night upon the bill imposing a special
war tax of FIVE per cent on the incomes
above 5000 received during the year end
ing December 3lst. The session was
characterized By considerable excitement,
but, in the main. was decorous. The
three amendments proposed were upon
taxing State banks, whisky on hand, and
agricultural products.
Henry Winter Davis brought forward
the ten per cent duty on all bank citcuIa-
ton except that of national banks, but it
was defeated By small majority.
The New York city opposition mem.
bers again urged the tax on farm pro-
ducts, but we're again beaten.
Mr.. Washburne insisted, with his pro-
verbal pertinacity, on tax on whisky on
hand, which has paid no duty of seventy
cents ard that already taxed fifty cents
Per gallon, but the House. after agreeing
TO Mr.. Washourne's amendment by 30 to
~, rejected the whole bill by three ma.
Jority, after Morrill, had said he desired
lts defeat.
Half an hour, later the House recon
sidered its action, and passed the Joint
resolution IS i came from the Ways and
Means 6. ,hait er. embracing she war In
come tax alone. by 81 to 40 !.
TIE bill reached the Senate at half
past one this morning. Mr. Sherman
and others urged aud entreated aoii0n on
it at once, before the time of the adjourn.
ment Of the session should be fixed.--.
Powell and all the opposition members.
pledged themselves 10 allow vote ID be
taken at once. Mr.. Sumner objected, in
order, as he stated. to force the House To-
pass another tax bill. Mr.. Harlan raised
the objection several times. that 1t Vas
Sunday. Mr.. Chandler objected besausel
he could. He and Harlan both, deelared
that they would resist action u tho last
point of endurance, aud The majority
finally gave way. Il is Thought that
there viii be immediate action tomorrow
morning, but the friends Of The bill ars
not sure they can press II TO vote before
the honr fixed for adjournmest q 12
clock
A motion was made TO suspend the
rules, but II can easily be defeated.
/ The resolution fixing the day Of the ad-
Journmenttwss taken up at Ii o'clock,
and four hours were spent with remarks-
bic Success 10 doing nothing, shough
everybody was clamorcus for vigorous ec.
ton. A large majority Of the Senators
we're anxious to proceed 10 vote upon the.
question at once and proceed to other
business. but we're opposed by those / IN
der the leadership Of Lane, u Kansas,
who desired TO 6rst have the action Of
the Houss on the revenue tsx bill, and
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