Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-06-27
State BOND TAX.
Its Constitutionality Dis
cussed Yesterday.
SENATE WON'T HAVE IT.
The Rebuttal Evidence
Amendment Passed.
A New Holiday was e,.es ,hc rso-
pie by tho House srat-raay.--J 4.
u. ianui.h Gets ms Money
Washington News.


ny Associated Press,
Washington, June 26-with the thor
mnmeter standing at 50 degrees In the
senate chamber today tho senate on
tered upon tho thirteenth week OF the
tnrln debate, At the opening OF the
session MIR. Allen made another nef-
fcotual attempt TO secure consideration
FOR hin resolution directing the score
,ary of the treasury 10 inform tho sens
ate OF the total number Of persons en-
gagged IN protected industries whoee
wages would be affected by tarlr leg
lslailon. senator Callingor objected !
and Mr.. Morrci moved TO refer It 10
the finance committee Mr.. Alien
gave notice that avs long M the feso-
luton remained Enacted upon he would |
object TO all legislation by unanimous
consent. Mr. Morrllia motion was de-
fcatei by vote " 10 to 81. Then
the aennte resumed the consideration OF
the Income tax provisions OF the tarln
bill
Mr.. Hnl withdrew the amendment
he offered on Saturday TO strikr out
the provision cNcmptlng the Interest
on United states bonls from operation
OF the tax HIS object IN Offering the
amendment Mr. iIsll said. was 20 call
the attention of the country TO the
fact that sdsb, 100000 nf property In
government bonds were nuccHpnrlly
exemrt FROM the operation from the
Income tax, under the law. although
the uatonHibie purpose OF the Income
tax wnH 10 reach wealth aud cuuallEo
taxation. There was an enormous In
/ vuutmcni OF capital which the income
/ tax could not reach. Mr., I'm then
I moved 20 exempt state, county ana
| municipal honde, Hr argued that tax
| alton OF state bonds by the Federal
| government would be direct attack
upon the administration OF the atutCu.
/ II the Federal government had the
| right 10 diminish tho value OF state
/ honda and securities II had the right
TO destroy thom. Aside from the guess
| ton 81 the exercise Of doubtful power
injustice 90 the states which senators
rnnresentatcd and upon which tina tax
bore harAhly Mr, I'm thought the htites
should have the right to issue honda
without being subjected 90 Federal
tnxation Mr.. mrs Hmendment 10 the
income tax to exempt state, county ana
municipal bonds from the operations
Of the income tax was lost. % TO 20.
Mr. Vest held that state or municipal
bonds could not properly be- exempted
from taxation. MIR Chandler expressed
the hope that upon reflection the Dem
cratic majority would not place ntnto
and municipalities when thcy were
forced 20 borrow money In worae po-
niilon than tho United Htatos. Tho
United StnteR could now borrow money
quicker than any country, atate, corr
p0ration or iudividNd. nut because
II occupied this coigno OF vantage the
government should not boar the credit
. ] ~ "a 10
curltlor
MIR. Mitchell OF Oregon agreed with
MIR. I'm that the taxation Of state
una county bonds was OF doubtful con
Htitutiunnlity.
Mr. sherman also agreed with Mr..
ilill'H position, The more he thought
OF H.. he said. the more satisfied no be-
came that the United states should
ma Interfere BY THIS .p'oitH " taxation.
Discussion on The oonstltuiionBiity of
u national tax on ntate or municipal
bonds continued for some time. and
then vote was taken On Mr.. INNS
amendment. a was lost. 26 10 30.
oratn, voted for The amendment and
. Mn. Pettigrrw, Republican. and the
. populiats AGAINST II, Otherwise u waa
n rtrict party vote. the Republicans
. FOR and the Democrats against y. Mr.,
I'M then modified his amendment 80 ~
10 CDniine m" lhhttloH " ''Af' ""itN.s
long constitutional discua9lcn tol-
J lowed In which McsHrH. Hoar Morgan,
pugh. Lindsay, caffsry and Gray par
mo proylHo offered by Mr.. Vest last
week as m amendment 10 hection %,
THAT ia computing the Income 81 any
person, corporation, company o. assoc
, rlr4inp NOR, tfri not BE- h'riuled DO
amount received from any con,orn-
,iana. etc. as intercata or dividends
mon the stock OF such corporation.
, srhe tax or the 2 per cent has been
uaid upon its profits by said coiporh-
tion ~ required was agreed TO-
An amendment Of Mr nl.hs 70 i ne,
tora N international fcvenlo. az g thc
nnnunt nf Incomes WAS nereod 70, ~
r ,yns thp Veas amendment excluding ~
4 he calculation 70 the Incomes ~ phihs'
baniing inntitutonA, TRUST cyihp"ni.s'
IN ffo aud Other insurance rui'i
Q nsnies' railroads, canal. telephone
aud telegraph companies, ncinpl opera,
,,n~ and hlfinest tSpersrt io7ffH W.
4 i.,,erse, on bonds and indebtednees. =
coialnittne amendment Mii' a"sps,r
4 nrovidine that the tax shall mo- Apply
r. stnfca, counties oT municipalities nor
I ~ csrpofationn, companies or hHhocia'
lone nr,raulzed and conducted holel3
= "a, charitable. rciiElouf Or educa,pnn'
purposts, Including fratsrnhi, pshe'
a acta,v cneletien, orders or a9sothupni
nnrrnting upon tho lodge system an AZ,
e provldinr Tor the payment o. We slem
tactdrut and other benefits 10 the nicii'
49, "a rt,eh societies. orders md an
snciatienr and dependents of such mem,
r. bcrr. nor 10 thc stocks. ahaFea: Iunus
~ s.c,,ritIss held hy amy judiciary o.
a truutee for charitable. rellElols Or eau
n,f,.4.l tirt,oseH. uor 70 ne l1Hf'
e.'a,olt ~, 6,,lldinx and loan associations
~ ,helr share holders for The p,rpor'
y. estung them 10 provide for mem
y ..,,,c~ homes, nor 70 such fnsinFl
s,snke SAVING institutions OF eoeie,l,1
a. snail nrot, have no AtouNho'N-'