Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1893-11-22
PLAN TO FILL THE TREASURY.
How the Administration Proposes to Make
an Opening for Free Trade.

WASHINGTON, d. c., Nov. 1S.-The in
come tax is to be favorably recommend
ed to the committee on ways and means
by the Subcommittee having the matter
in charge. This has at last been def
nitely decided, and the subcommittee
on internal revenue will make such q
report at the first meeting of the full
Democratic membership, which is eX
pected to take place to-day. The stage
has been at last reached, and it is frankly
conceded, where the whole policy of
the committee depends on the question
OF the income tax. If the plan for an
income tax which has been so strongly
urged by Messrs. Bryan, Tarsney and
Whiting in the committee, and num-
Der of Democratic congressman in pub
lie, shall prevail, the committee will
have no further difficulty in making
such radical reductions of the tariff
as will tully satisfy the national Dem
ocratic platform. So far the great
difficulty Of the committee has
been to reduce the tariff without Great
ing deficit in the treasury, and this
embarrassing condition has all along
been the chief hope of the income tax
men. The protests that have come up
from every industry as the contem-
plated tariff reductions have been an
nOunced, and the open threats Of the
Southern Democrats who have lOdg ed
such vigorous objections to removing
the bounty on sugar and adding coal
iron ore and rice to the free list, have
finally caused the income tax theory to
be given that serious consideration that
indicates its final adoption.
The plan will come to the committee
N
Of the Democratic members of the sub
committee having it in charge; and it
IS stated that the theory is commended
by every Democratic member of the
main committee except Mr.. Cochran,
of New York, and possibly Chairman
Wilson. Those favorable to the pro-
vision for an income tax are
reported to be Messrs McMillin,
Turner, Montgomery, Whiting, Stevens,
Bryan, Breckenridge, Bynum and
Tarsney. These gentlemen constitute
the majority of a full committee and
could, of course, carry their plan with
out the aid Of their two Democratic
brethren, but it is expe cted that the
Democrats will act unanimously in
whatever policy may be finally adopted.
Congressman Cochran, who comes from
Mr.. Cleyeland's own state, is under
stood to be prepared to make vigorous
fight against the adoption Of the policy
by the main committee.
The plan to be recommended by the
subcommittee leaves most of the de-
tails to be settled after the final APP
prevail of the policy. 1t is contem-
plated, however that no man shall be
subject to an income tax who does not
have an annual income of more than
$4,000; however, it is suggested that the
tax shall be per cent. on the excess up
to $4,000. The excess over $50, 900 per
annum up to $4,000 shall be taxed
at per cent. and all excess of revenue
over $50, 900 per annum shall pay a 10
per cent. tax to the government. In it's
essential features this system is prac-
tcally the same as the one in vogue dur
inc and after the close Of the war and
which proved so eficacious in raising
the revenues necessary to meet the
enormous obligations Of the government
at that time.