Highland recorder. (Monterey, Highland County, Va.) 1877-1972, 1894-08-24
THE TARIFF BILL.
The House Adopts the Senate
Bill Without a Change.
DECIDED ON IN CAUCUS
AS the Only Chance for IarlTI Leg
islation at this Time.-lhe rlh@N
Majority Seventy seven
Separate Measures then
Pushed Through.

rae German Brice compromise Dill, was
naesed by the House Of Representatives eX'
actlyas it was agreed to by the Senate
This was done in accordance with the de-
os;on reached in the caucus OF democrats
held in the morning, in which Ch@irnan
Wilson Sneaker Crisp and other leaders oil
the majority confessed that it was impossiolo
70 win the fight against the handful oil Seha-
tors who had refused to accept any reduc-
tion Of the protection afforded to their inter-
o.ts bv the Senate bill 1t was, these leaders
.oi1 . cose Of :he Senate tariff measure or
none.
Earnest protests against surrender were
made in the caucus and in tho House, pul
tbo opposition was in q hopeless minority
Only twenty-five votes were cast against tnc
surrender in the caucus.
Tho Tariff bill now goes to the President
Il needs only to receive his signature or 10
be held by him without action Tor ten dayS
to become the law Of the land.
If contains the income tax provisions,
which are as follows
That from and after the first day OF Jan
narv. 1895. and until the first day OF January
1Q06 there shall be assessed, levied, Collect
ed and paid annu lily upon the gains, PtYn"
and income received in the preceding caieh-
! dar wear. by every citizen OF the Chlte1
| states whether residing at home or abroad,
nnd every per5ol residing therein, WneIher
said gains, profits or intOme be derived rom
any kind OF property, rents, interest, dlVidehuS
( or Salaries or from any profession, trauo'
omDlovment or vocation carried on Ill inc
United States or elsewhere, or from any
other source whatever, a tax Oh t"o Pc
centum on the amount 50 dcriVeI OVcI anu
above four thousand dollars, and a Ike tHA
shall be levied, collected ana palu ahhu"l'y
upon the gains, profits and income from an
nronerty owned and of every business, trade
nr profession carried on in the United States
Inv persons residing without the Unlteu
States. ,..t,ou ho
And the tax herein provided for shall DC
assessed by tho Commissioner OF lhterhal
Royenue and collected and paid upon the
Gains nrolts and income for the year ending
The thirty-nrst day Of December next preceu-
ing the time for leyying, collecting ana pay
ing said tax.
,1avIng agreed to the Senate bill in Its en-
trtty, the House promptly tooA S'0l" ~ f1
upon the upper branch Of Congress the re-
sponsibility for any failure to give the peop''
free raw materials. Separate bills were III
troduced and quickly passed providing FOL
free sugar. free coal, free iron oi9 aho
free barbed wire.
1t has been estimated by the Treasury De
nartment that the Sonatc's tariff would yieIC
a revenue slightly above s163, ,OOO,O 900 in Gus
toms duties. The Morrill, tariff yielded dur
the ten years following the war an annua
revenue of $3.50 900 in customs duties
The Mckinley tariff has been slightly NOR
prolific of revenue, yielding in customs du
ties :2lG, s85, 7Ol in 1891, 3T4, l24,27O in lo9
and 3199 143, ,675 in 1898.