Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1895-01-28
SPECIAL MESSAGE
Expected from Cleveland to
Congress This Week.
FINANCIAL SITUATION THE SUBJECT

ton for Silver to the Bill-IncOme TAx
Advocates Pleased with Developments
That Promise $50. 900, 900 from That
source-wilson ON the Revenue.
WAsHINGTcN, Jan. 2S.-The president is
expected to send special message to con-
gress this week. The subject of the mes
sage is generally agreed to be the flnan-
cial situation, and the condition of the
gold reserve. This expected message
makes forecasting what the house will do
rather difficult, because the programme
will be subject to revision in case the
president does send in a special message.
Speaker Crisp, who has been at Ashe-
VILE n. c., for the benefit of his health,
is expected today or tomorrow, and IL
special legislation is demanded by Cleve-
land to meet the crisis an effort will un-
doubtedly be made to comply with his
wishes.
Concession to the Silver Men.
The president, Secretary Carlisle and
Attorney General Olney had a long con-
ference at the White House at which the
financial situation, 1t is said, was dis
cussed in all its phases. Secretary Car
Isle went to the White House and was
soon Joined by Olney. 1t is not known
what, if anything, was decided upon, but
it is believed that early in this week the
administration men in congress will make
an authoritative proposition to the silver
men looking to the passage of bill pro-
viding for the Issue of $500 600, 900 in per
cent. bonds, coupled with some silver leg
islation. Friends of the administration
argue that it would be wise for the silver
men to accept any fair and liberal offer,
as in case they refuse any silver legisla-
ton during the next two years would be
out of the question.
Glad the Reserve 10 Low.
The silver men say they are glad the gold
reserve is running away. They say that
silver will do and that a good way to
make this discovery is to let the gold
futter to a premium. They declare the
gold reserve bugbear and a bogy man
with which to scare financial babies The
sooner it disappears the sooner its harm
less character will appear, and "goldbugs'
who are ''golGbugs" through terrorization
by Wall street and the banks will recover
their senses and be for silver. In the
meantime members of congress who be-
lieve in the income tax as an equitable
method of raising revenues are gratified at
the unexpected good showing of the pre-
liIninary canvass made by the collectors
of the internal revenue at the direction of
Secretary Carlisle. They believe that the
greater the amount realized from this tax
the more popular it will become and the
more firmly rooted as part of the policy
Of the government.
Revenue from the Income Tax.
Representative McMillin says that if a
large per cent. of the revenue of the gov
eminent is derived from this plan any at
tempt to repeal it before the expiration of
the five year limit fixed in the Wilson bill
will be exceedingly unpopular, and that
the greater the revenue derived from it
the greater will be the probability of its
re-enactment at the end of its term.
When the proposition to tax incomes was
before congress the profit from the scheme
was at first estimated Mt from $l5, 0OO, 900
to SIS, 100000. Later the estimates of the
committee were raised to the vicinity of
$30,OOO,OOO.
Says 1t will he $4,000. 900.
Hall of Missouri, who has given moro
study, perhaps, to the theory and history of
the income tax than any other man in the
house, did not place the total below $780,
OOO, 900. From the results of the canvass
of the internal revenue bureau it appears
the other forecasters. He now says that
the income tax may yield more than $;O,-
OOO, 900, and it is known that the treasury
department officials do not place its re-
suits below that mark.