Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-12-02

WASHINGTON, ~. O.s DeC0A1 1oA A'
The meeting OF the Ways and Means
Committee to-day waS brief. The osti-
mates TO be submitted showing the
probable. difference in revenue that
would result from the new bill were not
yet complete, aud the committee ad-
journed until Monday TO give Clerk
TalbOtt and his assistants further time
The labor OF estimating the revenue
that would be derived under the new
tariff bin is very great, but it has pro-
gressed far enough to warrant the
statement that, on the basis OF
the imports Of 1892, the loss Of revenue
resulting from the enactment Of the
new bill aud the repeal Of the Nc
Kinley law would be about 6O,O0o,OOO
per annum. OF course this estimate is
lon the supposition that the imports
under the new bill would be no greater
than under the present law, a suppo-
sltiou which the Democrats by no
means concede. Il is the contention Of
Chairman Wilson and his Democratic
associates that importations will be so
stimulated under the new bill, that
THE Loss OF REVENUE,
despite the radical reduction Of duties,
will not be over SIS, 900, 900. This de-
felt IL is now proposed 70 make up by
tax on the incomes OF corporations,
tax on SUGGESTIONS and playing cards
and by increasing the tax on cigarettes
and perhaps whisky. Mr.. Tarsney, OF
be WAYS and Means Committee, still
lipRs to the belief that the deficit
lannot be supplied without extending
he income tax to individuals.
Il don't think it can be done, said
he. "withOut making the taxes OF net
earnings of corporations excessive.
Such a tax OF two per cent. would Sc
cure to the government not more than
s25. OOO. 600, whereas then6e6ciency
would bs nearly 100000 600. / can't
see how tobacco can stand any greater
tax. IN the rate on whisky is advanced
ten cents per gallon from that source,
there will be about S9,OOOrOOO more,
4 which is still short OF the amount re-
oulred. One source Of increased
revenue that has 10 be developed Is the
3. stimulation of impOrtations that will re-
suit from the lifting Of our prohioltlve
tariff. Doubtless this will greatly In
crease our revenues, but i hardly think
we could get along without help from
The PERSONAL INCOME TAX.
II incomes Of $50, 900 were taxed at
the rate Of per cent. 10 would put into
The treasury over S7,0O0,000, and that
would give US sufficient revenue. The
aoinaRe of the seignOrage, as / have
heard suggested. would not help the
matter, so we are preparing for per-
manent support Of the government
The Democratic members of the Com
mittee on Ways and Means will meet to-
morrow afternoon to further consider
the income tax and internal revenue
schedule. There are still many rRmorS
afloat regarding the intentions OF the
committee in relation 20 the whisky
tax, but the expressions Of members or
the committee give no reason for believ-
ing that the Increase will exceed ten
cents per gallon, and some members
think 10 doubtful whether there will be
any increase at an. The subcommittee is
debating the advisability Of making any
increase I'm the whisky tax applicable to
an whisky I'm hand 40 the time the new
tariff law goes into effect
Senator Dolph, OF Oregon, announces
that when the new revenue bill comes
no for consideration he will present an
historical address for the purpose OF
proving that the United States never
had any prosperity except when there
was q protective tariff, and that from
Colonial days free trade has meant de-
based labor.
'REsENTATIvE HOLMAN SAID TO-DAY;
"There are practically three methods
bv which the deficit could be made up:
Bv issuinga bonds and thus increasing
the public debt; by an income tax,
which would realize from $50, 600, 600
20 S75, 600, 600, or by reduction OF ex-
penditures. In regard 20 the bond is
sue. do not believe any political party
would survive a material enlargement
II the public debt in time of peace. /
none that that will not be attempted at
tbis time, for am confident
that the great masses OF our people,
believe that the embarrassment OF the
treasury Is attributed, not to insufficient
revenues, but lavish expenditure OF
ppblic money. IL the expenditures Of
onr government are kept up to their
present rate, think the increased
revenue required should be provided by
income tax. IL is just and equitable
method Of raising revenue. II the
Dresent Democratic Congress, which
il now wholly responsible for
the expenditures OF the government
would go earnestly TO work it would
find no difficulty 10 reducing the expen-
ditures of the government so that the
r,resent rate ofinternal revenue aud pro-
nosed reduction of tariff taxation would
fnruish ample means TO support the gov
ernment and meet the requirements Of
the sinking fund. We cannot with honor
ABANDON THE SINKING FUND.
II vas not intended as a guarantee to
tha holders Of public securities, but
solemn engagement Of Congress 70 the
nooDie that the public debt should not
~ permanent, but should be extin-
g,,ished on the reasonable basis pro
oided by the act of 1868, under which
fbe debt would be paid OF within a
reasonable period Of time. Exemptiop
from debt IS one Of the guarantees of