The Durham daily globe. (Durham, N.C.) 1889-1894, 1893-12-05
IT MAY NOT PASS
MANY Doubts as to the Wilson Bills
Passage.
Both Sides Are Not at All Happy over
the Situation.
THE POOR PEOPLE TO BE TAXED
The Debate Promises Nothing OF fecu'
liar Interest in the Session
Now On.

WASHINGTON, Nov. 5,-LSpccial j
There is scarcely a member Of either
branch of congress in Washington who
really believes that the tariff bill will
ever become a law, and many predict
that no tariff bill will pass the senate at
the approaching session. Publicly the
democrats give som sort Of support TO
the measure, but evidently there is
scarcely one who will declare it a good
sample of craftsmanship. 1t pleases
neither the tariff .for-revenue or the pro-
lection democrats. 1t is neither q reve-
nue. measure nor proposition to protect
American interests. 1t will raise, &C
ccrding to the revised estimates OF the
ways and means committee, about $50,
000, 900 less revenue than the present
law. There is now being collected
about $5O,O0O,OOO a year less revenue
than is required to operate the govern
ment and meet the appropriations Of
congress for improvements. Thus, under
the operation of the proposed measure,
there would be a shortage in the receipts
of the government aggregating approx
imately S1lO,OOO,OO0 per mum.
There is but a shadow Of doubt that
the ways and means committee will
agree to some kind Of an income tax,
probably a tax upon corporation shares
only, and that it will report in favor OF
an increase Of the whisky tax, but il
both of these were adopted there would
yet be fifty or sixty million dollars a year
of additional revenue to be raised under
the proposed law. 1t is stated on excel
lent authority that the ena will reject
any kind of an income tax. The repub-
licans will oppose it because it is a war
measure and is never adopted in peace
full times, except as a step directly INTO
free trade. 1t is held that it is sectional,
because the North would have to pay
nearly all of the taxes under it. 1t would
be class legislation if building and loan
associations, sayings banks and cooper
alive and society organizations for the
benefit Of the common classes were ex-
enpted, and If they were not the bill
could not pass either house of congress.
1t is found that the deeper into the
measure the experts go and the farther
statesmen in congress follow the progress
sion, as it will be published, the weaker
it becomes, the more conflicts encoun-
tered. 1t will probably be forced through
the house by caucus, but it must be com
pletely remodeled and rebuilt by the sen
ate committee on finance if q tariff bill
passes the enate at any time.
Speaking of the proposed tax on cor
porations, Mr.. Payne called attention to
the fact hat a corporation tax would
reach more poor people han would a
direct tax on incomes above $4,000. He
explained that most corporations are
composed of small holders Of stock.
Some individual might hold a larger
block, but a great bulk of the stock would
be distributed in small quantities among
agreat many people. a corporation tax
would apply with especial severity to
manufacturing concerns, a great portion
Of which are now incorporated and whose
stock is widely distributed, in many cases
being largely held by employees. These
concerns would suffer in two ways
First, from the lower duties and the
necessity of meeting foreign competition
by the reduction of cost of labor, and
second, by the direct tax upon their stock
which is distributed among the working
people in small lots, although Of course
the larger blocks are held by the chief
partners in these corporations.
These criticisms of the bill do not
come from republican sources by any
means.
The debate o. the tariff bill in this con-
gress does not promise any better dis
play Of orstory than did the fight for
the unconditional repeal OF the purchas-
ing clause Of the Sherman act. The
democratic veterans of many years ser
vice in the house state that they talked
themselves out on the tariff over the
Mills till and the subsequent debate over
the Mckinley act, besides their speeches