The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-06-23


most important was one to reduce the ex-
enption from $4,000 to 5000; another ex-
ing and loan associations. making loans
only to their shareholders: another pro-
vides that in reckoning the profits OF cor
Expenses, losses and interest on fixed in
oebtedness shall be excluded. The other
amendment was as follows: In Section
provided. that mutual life Insurance com
panies shall not be required to pay in
come tax upon the sums repaid to their
companies The following is added to
providinR pro tHat she charitabie nj benefciai
and other societies shall not be subject 10
the operations Of the tax: Nor to any
conducts all its business solely upon the
mutual plan and only for the benefit of its
POLICY policy, holders or members: and having no
holders, and holding all it's property In
trust and in reserve for its policy holders
or members; nor to that part of the busi-
capital stock and shareholders, which is
conducted eo on the mutual plan. separate
solely for the benefit OF the policy holders
and members insured on said mutual plan
and holding all the property belonging to
business in % trust % and % reserved d. for p' the he
benent or its policy holders and members
insured on said mutual plan"
proposition. He quoted from the utter
ances or some OF the leaders OF the Re-
publican party past and present who ad-
Morton had characterized IL as the most
Just and equitable of all taxes" Senator
Sherman had eulogized it, as had Senator
Morrill,. of Vermont.
THAT was during the war" interrupted
measure"
"Oh, Mr.. President" replied Mr.. Teller
II don't think an unjust and inequitable
tax was proposed or defended even as a
war tax"
Mr.. Sherman followed Mr.. Teller In op-
position to the income tax.
PATTENS MAIDEN SPEECH.
Mr.. Patten, the new Republican Senator
from Michigan, followed with a set speech
against the general features of the tariff
Dill. 1t was his maiden effort in the Sem
ate He argued that the income tax law
ieVied during the war had proved a fall
ure. The Democratic party, he said, in its
long minority opposition. without RESPONSE
piiity had attracted to itself many i'm
practicable and destructive theories. Now
tnat 1t had attained power II was plagued
WIN lpese, and had been compelled to in
S;ss,e SSo;rp1rate many of them In the bill. The
discrimination against the farmer and the
Woei growers in the tariff bill, he said.
pore with special severity on Michigan
he said the bill is covered with the stain
Trust gets SSO.o00,oo0 and II represents a
series OF bargains unequaled in American
politics. He depicted the tariff bill as a
whole as being sectional in the extreme
ana. relerring to Its disapproval by Demo
cratic senators who yet give Ii their sun
port, said; Il recall. and 1 refer the Sen
ators on the other side to the example
OF one who was great as he was patrfotIc
ana who believed in the principle of pro,
tection and commercial independence. Com
pare Tor one moment the utterances of
statesmen Wi
George Washington in the constitutional
sSonvention at Philadelphia when he said:
.n,,,V III we oifer 70 the people what we our
selves selves disapprove, how can we afterwards
defend our work7 Let us raise a STANDARD
TO which the wise and honest can repair;
the event Is in the hands of God"
Mr.. Allen spoke next He repelled the
idea covertly or openly advanced bv ths
opponents of the income tax that the Pope e
elared vehemently that Congress- Was in in Ie me
f eands OF the money power BY the legislation
a9rSed anS by mSnsySd influence fabulous
IN this country: For weeks railroad mag
nabe- nate had a5aa sat In & committee room at the
important legislation "If you want proof
dranatically - S''e - s'u' ne shouted
Name him" said Mr.. Walsh.
II will name him to a committee of the
senate IL YOU want it," said Mr. Allen.
You talk Of relieving the burdens OF the
pofr POOR inter- interrupted fr Mr. Hill why did you
IF that question were asked in court
room," replied Mr.. Allen, 'it would be
called pettifogging."
Whether it is pettifogging or not, an
swer it," said Mr. Hill.
The poor cannot live entirely on sugar"
said Mr.. Allen. why talk of it?"
Because it is one of the necessaries of
life" said Dir. Hill
Mr.. Allen stated that he had voted for a
duty on sugar because Mr.. Harrison left
bankrupt treasury when he left the White
House.
AT the conclusion of Mr.. Aliens remarks
Mr.. Jarvis Senator Vance's successor from
North Carolina, made his maiden speech
in support Of the income tax.
1t was o'clock when Mr.. Jarvis finished
Then followed the spirited passage between
Senator'S Hill and Harris noted above after
which the Senate adjourned.