The Princeton union., 1894-06-28

Washington, June 23.-Immediately on
convening to-day the house went :To
committee of the whole OH the antl-option
bill. The bill was read by sections for
amendments, and Mr.. Aldrich of Illinois
offered the first amendments, inserting
flour" in the list of agricultural products
affected by the bill. The house, By vote
of 81 to IA, adopted an amendment Of
fered by Representative c. w. Stone of
Pennsylvania exempting thirtyday op-
tions from the provisions of the bill. il,
was an unexpected defeat. Mr. Hatch
and others, amid general confusion, raised
the point of no quorum. MIR. Hatch says
the amendment, if adopted, will destroy
the bill. On demand for tellers the vote
on the Stone amendment was 81 to 81,
and is thereby lost by tie. An amend.
ment was offered by Mr.. Lacey QRep.,
Iowal providing that in case a seller de-
scribed in this act shall in fact be thu
owner Of the property contracted to be
sold at the time of the sale, failure to de-
liver at the time fixed in the contract,
when caused by delay in transportation
or the fault of the carrier shall be suf.
fcient excuse for the non-payment of the
final stamp tax provided for in this act.
Adopted. Mr.. Hatch was then recog-
nized and was given an hour to close the
debate on the bill.
The committee having arisen, the first
aye and nay vote being on Mr.. Cox s
amendment as amended by Mr. Boatner' s
amendment permitting future delivery
sales in due course of business, which
was agreed toll to 129. Mr.. Hartman
(Rep., MOnt) offered a resolution to re-
commit the bill with Instructions to re-
port it back with an amendment for free
coinage of silver at a ratio of 16 to 1.
ruled out on point of order. Mr.. Boat
ner Oem., La.) then moved to recon-
init the bill with instructions to report a
Oil limiting the taxation proposed by
the bill to transactions between citizens
of different states Lost. The bill then
passed-149 to 81.
Senator Washburn says that he does
not think the anti-option bill will pass
the senate this session. He does not
favor including flour in the bill. e.
When the tariff bill was laid before
the senate Mr.. Kyle took the floor He
made general argument in favor of
the income tax, dwelling on the decline
OF farm values in the West and the grad
ual concentration of wealth in the hands
OF the few. At the conclusion of Mr..
hyles speech, Mr.. Vest offered four adj
1ltlonal amendments to the income tax
sections. The most important one was
one to reduce the, exemption from $4,000
to $4,000, another exempted from the
operation of the tax building and loan as
sociations making loans only to their
shareholders; another provides that, in
reckoning the profits Of corporations for
taxation, actual operating expenses, losses
and interest on fixed Indebtedness shall
be excluded. The bill may be finally
completed in the committee of the whole
and reported to the senate late this even.
ing. a Fl.
Washington, June 27.-The senate re-
81 n ed the consideration of the income
provisions of the tariff bill. Mr. Hill
withdrew his amendment to strike out
the provision eXempting the interest on
UL!ted States bonds from the operation
of the tax. Mr.. Hill then moved tG ex-
empt state, county and municipal bonds
1t was lost-25 to 30. Messrs Gray,
Hill and Pugh, Demo .rats, voted for the
amendment and Mr. Pettigrew, Republic
an, and the Populists against it. Other
wise it was strict party vote, the Re
publicans for and the Democrats against.
Mr.. Hill then modified his amendment
so as to confne the exemption to state
bonds. A long constitutional discussion
of the powers and limitations of federal
taxation followed in which Messrs. Hoar,
Morgan, Pugh, Caffery, Lindsay and Gray
participated Mr.. Hills amendment to
exempt interest from state bonds was
also lost-27 to 30. Mr.. Hill then moved
to strike out the provision for tax on