New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-06-22

passed by both houses ana appiyytt - r95nosed on
proyiing that no such tax should Ie "canfincent
any undistributabe sum added 10 the eo"''"ee"'
fund Of any such COMPANY
R1-RDEN UPON LIFE INSURANCE.
The reason OF this exemption is obvious. Nheh
,wo men agree together that whichever OF lhehi
wv nre, lilo the other will take care of his
far,uv they form a mutual life insurance COM
Many When 100 40 men make the same asreeIhee,iiS,
specifying the precise extent ana thn families OF
those who die prema turely the plla1z'atti ion col
HInrtIon of premiums and OF policies al maturi Ky
is but the necessary incidents III VVir,iacaiIv and
genera h' IT, stiiI remains true in every such
case that the amount PAID lot lnsu ~, rrcecnt in
prIcr TO avert the risk OF greater pniuel NJ,
after II is a sacrifice made AZ tHls nm ~ ,roGt
rti,once and misery hereafter Iheie y ~ Piu,,,
IN ~ In any case Inc amounts paid ny thr com
panies to 9oicy holders In me 5id they nav. re
ccIved from pocy-hoders in premiums. heve
men therefore. and political economists nay aa
miaev nreferred to encourage rather than TO YAK
the operations of such G0inPahhif Of the 100000
h6 n{ families throughout the country VINO hace
mid 10 such institutions part 1I 'l" r,0n FOR
thr prevention of pauperism ana the r,nrpIt
their families in The future lesso oi Of July 49,
1870 should be clearly embodied IN the Ia"
be a55nd be remembered that ne effect or d e
nrnnoscJ income tax upon life insurance hicb are
serious burlen even tnf qaadcaton. The
Snnis held In trust for policy-hodtr5 Dl S,r ther
companes can n on P n 16S stock and oOga
Dcne"t o,ber Companies doing business ior PROM
in The pc SIAN aorS,arIes tn income Of lie In
prDnIS sonran,es is diminished and hey are con- ,
peer ,nu5 he Tni,,I states !; sn9ud a, mo
be added that the ansu nrh, h. So interpreted
houSe ~ u W. henenclarics under mature p2l'Jy
OF ife insurance TO pay me YAK ui'1h, ceyel that
amount Oh atntio of congress % ;eyy sc,c , lax
mon the sums provided for me sum ,e'se s,ates-
fe1ltf 4
ana SrPhanS enrourare buslnee' upon which 50,
cicty must Largely ' rely ,t t1I 49,
aga.hs', n ne, rc,Srae ,h- numerous other oole',l,
70 this lax which were poln'r,h, o"' It's nqli-i-
tora t,' ouhfec."d business men we're arraye'' ,ny
which ~ Syros,,re - their private AFFAIRS no.
,,rithstand!ng its weak guarani'e Ior y,,h which
MAD man 'noiltical officials were Motel us Ia
- ahse was commented upon ana - T'y
meq,s q F5as oo, e have not ben remo
by any amendments which naIe 6cc,n,e they are
They cannot WEI Doe eliminate" "'''
.nheren, In any income tax '"
ur-MurIATING SPECTACLE.
pa, ,r,,. dctain The Senate with argument win
,o,s With figures with prcccdenis with ""S'''
,,o,so II "a we'll understood that senators W.
no, a ma jority. howcvcr-intend 10 VOC ''
question not ac9rlins to their ory ca t trs,
p -. huuiliating spectac" Will never pc ~,
messed 1t is even sail-9yc no nes and mos popu-
ms mo- "a ,tts ,nnaelr. II 10 To- s"-if thls
lar pro',so reav The most mcrtorious feature Of
ieht"icy, ~ i." ',i. .rclairn In the emphatic IAN
this hill- 'i. "il's ,a,or from %.w-Jcrs~y tMr.
s,,,,t, !~rbcn God help the Democratic party
IiratIan, we have listened DAY after day :"
MI T'sIr'a ,.,to, ra,.. heeu offered hy n" Fl
.nr ',,,nittce through the distinguished senator
from Missouri 'Mr Ncsu, for ,h' &, ,b' I'm
changes "hl'n n"' :, rn',gh he senate !, has TN
GoiJJ Raj a harl road 10 travel We have he"i a.
errol mar these changes concessions AZ th'y anH
been politely icrhl,1 49,, 30 roIir,rrv - under
sfani that they only Yielded under Irgt"st "nl
against their better iglgmcn' tn" NiA !t'i
80. a., its rrc.ert shape does not 'dr 10 10
sso,,.rat,or, H. them no. - auy on"
"a t,,, .x,.r..s ~. general Judgment when | AZ
~ ~ H. ..rn.r, ,,,s sgrprise-l ~ many 90
80 't,r,s Nh. f.-,tl. .,.I Do; seem g. eNI't.
W., - ~. t-nt'.,r! upon 'hr U.r.--7fi"9 ~
Thcy DID mot 'NT.-.t " i''il'' -, .,.
some ~ The Mckinley duties incr"f-'i ~ '.f i,