The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-12-02


WASHINGTON, D. G., Dec. 1.-The meet
tng OF the ways and means committee
to-day was brief. The estimates to be
submitted showing the probable differ
ence in revenue that would result from
the new bill were not yet complete and
the committee adjourned until Monday
to give Clerk Talbot and his assistants
further time. The labor Of estimating
the revenue that would be derived under
the new tariff bill is very great but it
has progressed far enough to warrant
the statement that, on the basis OF the
imports Of 1892, the loss Of revenue re-
sulting from the enactment OF tho new
bill and the repeal of the Mckinley law
would be about $60,000,000 per annum.
OF course this estimate is on the suppo-
sition that the imports under tho bill
would be no greater than under the
present law, supposition which the
Democrats by no means concede. ,
1t ia the contention OF Chairman Will
gon and his Democratic associates that
importations will be so stimulated under
the new bill that the loss of revenue,
despite tho radical reduction OF duties,
will not be over $35,000,000. This de-
felt it is now proposed to make up by
tax on tho incomes Of corporations, a
tax on successions and playing cards
and by increasing the tax on cigarettes
and perhaps whisky.
WANTS INDIVIDUALS TAXED.
Mr.. Tarsney, of the ways and means
committee, still clings to the belief that
that the deficit cannot be supplied with
out extending the income tax to in
dividuals.
~ don't think it Ican be done," said
he, without making tho taxes on net
earnings OF corporations excessive.
Such tax of per cent would secure to
the government not more than S2o, ,0O0,-
900, whereas the deficiency would be
nearly $40,000,00O. I can't see how to-
bacco can stand any greater tax:
"If the rate on whisky is advanced
ten cents per gallon from that source,
there will be about S9,000,000 more,
which is still short Of the amount re-
quired.
"One source of increased revenue
that has to be developed is the stimula-
tion of importations that will result
from the lifting OF our prohibitive tariff.
Doubtless this will greatly increase our
revenues, but hardly think We could
get along without help from the per-
sonal income tax.
"If incomes OF over SO, 900 were taxed
at the rate of 5 per cent it would put
into the treasury over 100000. and
that would give US sufficient revenue.
The coinage OF the seniorage, as ] have
heard suggested, would not help the
matter, as we are providing for q per
manent support of the government"
THE WHISKY TAX.
The Democratic members Of the com"
mittee on ways and means will meet
tomorrow afternoon to further consider
the income tax and internal revenue
schedule. There are still many rumors
aloat regarding the intentions OF the
committee in relation to the whisky tax,
but the expressions of members OF the
committee give no reason by believing
that the increase will exceed ten cents
per gallon and some members think 1t
doubtful whether there will be any in
crease at all or not. The subcommittee
is debating the advisability OF making
any increase in the whisky tax appllca-
BILE to all whisky in hand at the time
the new tariff law goes into effect
Senator Dolph, of Oregon, announces
that when the new revenue bill comes
up 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 protective tariff, and that from
colonial days free trade has meant de-
based labor.
THREE WAYS.
Representative Holman said to-day:
"There are practically three methods
by which the deficit could be made up:
BY issuing bonds and thus increasing
the public debt; by an income tax,
which would realize from S50,00O,OOO to
S75,00O,000, or by a reduction OF ex--
pendIures. In regard to the bond
issue, l do not believe any political
party would survive material en-
iargement OF the public debt in time OF
peace. Ihope that that will not be at
tempted at this time, for lam confident
that the great masses OF our people be-
lieve that the embarrassment OF our
treasury is attributed not to insufficient
revenues, but lavish expenditure OF
public money.
"If tho expenditures of our govern
mont are kept up to their present rate
l think the increased revenue required
should be provided by an income tax:
1t Is Just and equitable method OF
raising revenue. Ii the present Demo-
cratic Congress, which is now wholly re-
sponsible for the expenditures OF the
government, would go earnestly to work
it would find no difficulty in reducing
the expenditures of the government, so
that the presentrate OF internal revenue
and proposed reduction of tariff taxa
tion would furnish ample means to
support tho government and mees the
requirements of the sinking fund. We
cannot, with honor, abandon the sink
ing fund. It was not intended as a
guarantee to the holders OF public &C.
curities, but a solemn engagement OF
Congress to the people that the public
debt should not be permanent, but
should be extinguished on the reasona-
bic basis provided by the act OF 1868,
under the debt would be paid of with
in reasonable period Of time"