Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-03-18
TO ABOLISH POVERTY.
a Peep at PETERS Bill Which Taxes
Big Fortunes.
1T HITS THE MILLIONAIRES HARD
And Divides the Public Fork Among the
Sweating Masses.
THE VICE PRESIDENT STUNNED BY 1T

WASHINGTON, March II. - Senator
PETER, of Kansas, in the language of his
section" has bumped himself" Both OF
the Alliance apostles whfskers tied to-
gether would not equal in length bill he
has introduced abolishing vice and crime
aud making some use of men who foollshly
hereafter accumulate more than 81, ,OOO, 600.
William Alfred draws the line at million.
The measure was one of the unique at
tempts at putting more than SIS in the in
side pockets Of everybody in the country
by legislation, expected to be offered from
time to time by the Alliance statesmen.
When the Senate got it it did not know
what to do with it. Vice President Nor
ton, who knows something about finance
and parliamentary law, gasped when PET
fer's effort was introduced and he heard the
following title read: ga bill creating a
fund for the payment of pensions and for
setting our army of idle laborers at work on
extensive public improvements; for the re-
moval of the strongest incentive to crime
among the poor and to vice among the rich;
for protecti ne the American from the in
tiux of undue alien competition and for
other purposes.
The Vice President Stunned.
The Vice President looked helplessly at
the Senate, which had fallen hack in Its
chairs, leaving PETER alone on his feet
''What committee, feebly asks Mr. Nor
ton, 'should this bill be referred top
Mr. PETERS whiskers moved, and through
them came this reply: "In view of the scope
of the bill think it would be well to refer
il TO the Committee on Agriculture.
The Senate was too stunned to even smile.
There was an idea of referring the bill by
sections, so as to give ali the committees
chance at it. But finally Senator Platt had
it shunted to the Finance Committee.
The bill is divided into SO sections. 1t
rrovides-frst, that a graduated tax be
levied on property and estates, as fol-
lows: On all estates, the actual value of
which does not exceed S2,000,000, per
cent tax: on estates exceeding $4,000, 900,
but not exceeding $1,000, 900, 3per cent; on
estates exceeding s., 600, 600 and not exceed
ing SO coo, coo, per cent, and Is per cent
on all estates valued at more than SO, ,000,
O00 The bill further provides that proper
tv not to exceed s., 100000 shall be exempt
from the operations of the act.
The Division of the Pork.
A very considerable part of the bill re-
lates to the appointment of county assessors
and the manner in which their work shall
be nerforned. One-third of the total net
proceeds of the tax so collected shall be
divided among the several States in proper
ton TO their valuation; that is, their pro-
portion OF this one-third shall bear the
same ratio to the whole as their valuation
bears to the total valuation of all the States
as assessed. Another third of the proceeds
Of the tax shall be divided among the States
by the same method in proportion to their
population, the other third to be divided
among the States in proportion to their
area.
The United States Treasurer, after having
made the apportionment of the funds col
lected. shall, on or before the 10th day of
February and August following, deposit the
amount to which each State is entitled with
the Treasurer of said State.
When the several States shall have been
given their pro rata it is to be divided un-
Ger three heads: First, for pensions and pay
ing the national soldiers OF the War Of the
Rebellion the difference between the value
OF the money paid them and gold. with in
terest al per cent from January 1, 1866,
compounding semi-annually. Second, for
building, enlarging or repairing canals; for
improving navigable streams and extending
the mileage OF navigable waters; for improv-
ing country roads and establishing a system
of frst-class highways, and for building
storage reservoirs in the arid regions of the
West. Third, for organizing, equipping
and maintaininaa national guard.
Bonds Are Provided Also.
The bill further provides that where the
several States are unable to pay ex-Union
soldiers the money difference between gold
and greenbacks the Federal Government
shall issue bonds in denominations of $50
and 500, bearing 6 per cent interest, and
running from 10 TO 30 years, to meet the
deficiency.
The bill states parenthetically that as the
proceeds Of this tax on a conservative esti-
mate will reach over 81, T50. 600, 600 the first
wear, and as only about one-sixth of the
soldiers balance is due each year, the fore
going clause provides for very improbable
All laborers on public improvements
under this act must be citizens OF the United
States. Another section of the bill of in
terest to the American laborer is that tax
OF 5000 per head shall be collected from each
single male adult immigrant and 500 per
head from all other immigrants over II
years of age.
A Heavy Tax on Big Estates.
This section is to continue in force only
until the President, the President of the
Senate and the Speaker of the House of
sitting as board of refer
ence, shall declare that all American citi-
zens who want work have an opportunity to
find employment at fair wages, and, holding
the immigration tax no longer necessary,
declare this section imperative.
Section 81 provides a tax of per cent on
estates and legacies valued at
$500, 900 or under, 3 per cent on estates
valued at from 5000, 200 to $500, 900, per
cent on estates valued at from $500 900 to
s., 600 900, 20 per cent on estates between
81, OOO, 600 and S2,0OO,0O and so per cent on
estates above S2,OO0,00O provided. how
ever, that in each instance estates worth
500, 900 shall be exempt from the tax.
Senator PETER said tonight that he was
feeling quite well He looked like man
who had got great load off his mind.