Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-11-15
PROPOSED INCOME TAX.
i; Is Expected TO Yield Fifty Millions
Sugar--Tobacco- Goal.


C}y telegraph to the Dlspatch.)
WASHINGTON. u. c., November IA
A revenue Of S50.OO0,OOO is expected by the
members OF the Ways and Means Com
which they propose to incorporate in the
new revenue bill The rate of the tax
win probably be per cent, and the
exemptions viii be high enough to ex-
clude the great mass Of labOring men
and people on small salaries. The limit
now under discussion is from $500 to
5000. good many statistics have been
prepared 10y the Treasury experts on
the incomes Of the country. and the
rates of revenue obtained under different
plans. and IT is believed that the per
cent. rate will yield a handsome sum.
II the Increase in the revenue should
prove insufficient after n year or two
TO meet the demands of the country,
the rate might be slightly increased, or
the limit Of exemption lowered.
one OF the attractions Of an income
tax TO those members OF the committee
who are advocating It is that ii al
lows changes In the rate TO meet the
demands Of the Treasury without dis
turbing the industries of the country,
II the income tax is adopted I'm the
form now under consideration other
changes in the internal-rcvenue laws
will not be necessary. There will be no
increase i'm the beer tax. the whiskey
tax, the tax on manufactured tobacco.
or the tax on cigars. The question of
duty on sugar Is still an ouen one.
but IL is not unlikely that a duty will
be imposed Of about ] cent per pound
on both raw and refined sugars. This
win enable the committee 10 abandon the
bounty now paid the Louisiana and Ne
braska growers. without leaving them
absolutely without protection against
foreign competition. 1t is also desired TO
strike blow at the sugar trust by
making the duty on refined sugar sub
stantially the same as on raw sugar.
The reciprocity section which deals
with sugar hides. and tea, will proba-
bly, be stricken out. The articles named
will remain free from duty from all
countries, unless a small tax Is imposed
on sugar. and It is not believed that
the countries now having reciprocity ar
rangements will desire TO abrogate them
because the sretaliatory duties against
Venezuela, Columbia. and Haiti may be
abandoned
The treatment Of bitumlnous coal is
another open question with the Demo-
Gratis. Coal was on the free list in the
original draft of the bill. I'm accordance
with the pledge of the Democratic ma
tional platform to modify the Mckinley
law in the direction of free raw ma
terials. The protest from the coal dis
tricts of West Virginia. Pennsylvania,
Tennessee and Alabama has been so
strong. however that some of the mem
bers of the committee are weakening.
and may vote To retain a small duty.
Chairman Wilson hopes 10 present the
completed bill TO the Republican mem
bers Of the Ways and Means Committee
by the latter part of next week, 50 that
they can haNt their minority report ready
upon the meeting of Congress I'm Decem-
Der. He Is not In favor OF party caucus
to pass upon the bill but believes that
il should be fairly considered by the
House as presented by the committee.
This was the course with the Mills bill
and no caucuses were held until de-
bate began under the fve-minuie rule
on the separate schedules.
Mr.. Wilson believes that the bill Will
be more symmetrical and consistent If
taken up as ii comes from the commit
tee. and that general debate In the
House will solve some Of the problems
which might cause interninable discus
sion In a party caucus.