New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-06-23
XLIsT CONGRESS-2d SESSION
SENATE. WASHINGTON, June "a.

SENATE WASHINGTON, June "a.
Mr.. CONKLING Rep., n. " presented
resolutions Of the Union League Club OF NewYork City
for reduction OF taxes and against renewal OF the In
come tax etc. which read and laid on the table
OCEAN TELEGRAPH CABLES.
Mr. SUMNER (Rep., MassD, from the Committee on
Foreign Relations reported favoraby on the bill tofac
itato teegraphie communication between tho united
states and the Bermuda Islands He also reported bill
TO authorize direct submarine cable from the United
Mr. WILLIAMS Rep., Oregon reported. with an
amendment the bill relative 10 the unlawful certifca0n
OF checks by officers Of national banks.
Mr. NYE ep Hev efe , up the n M ,as
and telegraph line from the states Of Missouri and Ar
The bill il known IA the Atlantic and Pacific Railroad
BILL and extends the time Tor the construction OF the
road that the Company may obtain the right Of way
through Indian Territory The bill discussed until
Il was then ordered that hereafter the Senate would
REDUCING TAXATION.
Mr.. SHERMAN rep. OhOl called up the bill 10 re-
duce internal taxes, and for other purposes.
The amendments OF the Senate Committee on Finance
read. The proposition Of the Committee to strike
the first sections OF the bill it came from the
House, imposing special taxes, was agreed TO- ~.
Mr.. SHERMAN (tep Ohio explained that the House
had provided for keeping up portion Of the special
taxes while the Senate Committee proposed to repeal all
The next three sections Of the bill inserted by the Com
mittee in lieu Of the part stricken out were read
eept the special taxes upon brewers distilled spirits and tobacco so
law paid by stamps; repeating the sales Of leaf and
"Ts G s S s S ss h1 snS the special s on boats
bs and aA egaces and SUGGESTIONS on passports and on gross
discussion ensued upon objection by Mr.. CONK,
LING qsep, N " that the amendments Just reported
indirectly Involved the reenacmen OF the Income TAX
Mr. SUMNER (Rep., Mass) said the Income tax must
go any event 1t had lived too long for the good Of
Mr. SHERMAN was confident that the Senate would
not strike out the tax, as in such contingency tne
estimate Of the Treasury Department, the Income
tax, regulated by the House, would yield about
Mr.. CONKLING said It was the theory Of many well
informed that all taxes might be dispensed VIII"
except the Stamp tax Liquor tax, and Tobacco TAX, anu
that the Odous Income tax ought not to be revived
The substitutes for three sections being agreed 70 the
fourth section, providing for partial repeal OF the
Mr.. COYKLING asked that the next section, which
presented the plain question OF income be taken p ana
disposed before the stamp taxes abolished He
criticised the parliamentary skill with when tne Gn
To have these other taxes repealed IN advance OF the IN
tax strengthening the argument In favor OF re-
ang the latter It would then be argued that the Gov
eminent could not afford to dispense with It, ~,
Mr.. SHERMAN said the general custom upon such Dils
would entitle him 10 ask that a vote upon the income
section might be deferred until the bill was gone
through with but he was willing to meet the question
The fourth section was then agreed to- repeating after
October 1870 the stamp tax imposed in Schedule on
promssory notes for less than $780, on receipts for
any sum OF money or IN payment OF any DEBT anu also
served fish, further that stamp shall be required upon
the transfer assignment of mortgage except when MADE
security also that commissions shall be allowed IN pur
chase OF proprietary stamps Ii also allows the removal
Of ucifer friction matches, ogargts and wax apers
from the place OF manufacture for foreign expectation
without payment OF tax the axing OF stamps subject
to the regulations of the Commissioner Of Internal
Revenue.
Mr. SHERMAN offered section, which, "a amended
by Mr. Sawyer, adopted extending the time within
which stamps may be affixed To Instruments OF writing
recurring stamps, and executed In the late rebll0us
States until 1872 making the penalty double the
amount Of the tax, and in less than five dollars
The Income tax sections were then taken up and MI
SHERMAN delivered an argument in favor OF the reten
ton Of the tax claiming that its repeal would necessitate
the restoration of other taxes proposed 10 be re-
pealed that repeal of the tax personal incomes
would carry with it the taxes salaries and corpora
tions and that upon incomes derived from bonds 1t
would be unconstitutional to levy discriminating in
come tax After reviewing the question at length he
remarked that the yield from this tax last year was
ssS22 SO4 and that under the exemption Of 900 only
al 900 persons, in population OF forty Hllhohs' Dao
paid any income tax at all.
Mr. CORBET opposed the retention OF the tax as nav
ing PRED by Imitation as unnecessary dem0ralzng,
and obnoxious to the constitutional prohibition relative
to direct taxes.
The bill was laid the unfinished business for
Thursday.
Mr. POMEROY Q2ep, Kansas) offered a resolution re-
questng the President to transmit any communication
and proposals. he may have received for constructing
iron steamships for the Transatlantic mail service, &c.
which adopted.
The Senate then took a recess till evening.