The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1897-07-10
STAMP TAX IS ADOPTED
SENATE AMENDMENT CARRIEn
WITH LIT'rH.E OPPOSITION.
Senator Lindsay Deneaneen TFnmtn
An General and the saGsr Com-
hine An Particular.

the senate made good progress yesterday,
of two amendments, that plae-
ing stamp tax being agreed to with lit
tie or no opposition and without the for.
mality OF vote. while Senator Spooner's
amendment proposing a tariff investiga-
ton was Withdrawn after a protraeted
struggle.
The stamp amendment. as agreed to,
fixes the following rates ON bonds, etc.;
Debentnres, certificates Of Indebtedness
issued after September Is, 1897, by any
company or corporation on
each 500 Of face value or fraction there
of, 5 cents, and ON each original issue,
whether an organization or reorganiza-
ton Of certificates OF stock by any such
association, company or corporation, ON
each 500 of face value or fncuon there
of, cents, and all transfers of shares Of
certificates OF stock in any association,
company or corporation, on each 800 OF
face value or fraction thereof cents.
Exemptions from the stamp taxes are
made in the case Of state, county and mu-
nieipal bonds and the stocks anu bonds Of
cooperative building associations
other Amendments.
Later in the day several other amend
ments from individual senators were Vot-
ed on. One by Mantle. reducing the in
ternal revenue tax on distilled spirits to
20 cents per gallon, was defeated-23 to
Al. An amendment by Mills, proposing
tax of per cent on manufactured pro
ducts, the proceeds to go toward reducing
the bonded debt, was rejected-l0 to IS.
Also an amendment by Mills granting 20
per cent reduction in duties to those eoun-
tries admitting gold and silver to the
minis at the ratio OF 10 to l.; yeas 26,
nays 81.
On this vote one republiean-Carter-
voted with the democrats, pOPulists and
silver republicans in the affirmative, and
two democrats-CaffeFy and Grsy-voted
with the republicans in the negative.
Mills moved to amend paragraph 395
ID by striking out books of all kinds"
his purpose being to place books on the
free list; rejected, Is to %. An effort by
Mills to have the Bible admitted free was
defeated.
\ new paragraph was inserted in the
free list:
Waters for saeramental use, or for COW
ering or holding pharmaceutical prepara-
tons"
A legal discussion ensued as to the le-
gality of the provision that unstamped
bonds, etc, shall be utterly void and
shall not be used as evidence"
The stamp amendment as q whole was
finally agreed to in a viva vOce vote, no
call for an aye and nay vote being made.
The No response was light and came
from the democratic side Of the chamber.
Allison proposed an amendment here
tofore offered by SpOoner for a tariff in
quiry by three members of the board Of
appraisers.
Teller took occasion in this connection
to eriticise the committee for first trans
forming the house bill and then going
back in substance to the house rates. He
had tried to learn what amount of rev
enue the bill would yield and he said he
would be glad to have the chairman, Al,
lisOn, throw some light on that subject.
This brought Allison to his feet for the
first definite statement as to the revenue
expected to be derived. He said it was
not possible for any expert to make extra
calculations on the amount OF revenue Il
tariff bill would yield. 1t had never been
done and never would be done.
senator AIlIsOa's EstImate.
"But from the best information avail
able" proceeded Allison, 81 believe this
bill will yield SI75 900, 900 to SIsO. 900 900
the first year, that is, from July l, 1897,
to July /, 1885,"
He said the schedules had been gone
over at every stage a. successive changes
were made and he felt that this estimate
could be safely made. 1t applied only to
the first year, after which there would be
a much larger yield OF revenue.
How about the second Year, queried
White.
1T depends, but will say something
over $2OOOOO,OOO.'
How much over the present law ask
ed Stewart.
About s6O,OOO,OOO,7 replied Allison.
But it will depend upon the condition Of
our industries. 1t is not possible to
make more than general estimate
Vest remarked that the average ad va
loren rate of the bill would be much
higher than that of the existing law-the
Mckinley ad vaIorem being 40 per cent,
the existing law 80 per cent, while the
estimate on the house bill was 81 per
cent.
Allison said the average ad valorem of
the bill in its final form would be in the
neighbOrhOod Of so per cent.
Teller Criticised the Figures.
Teller again got the floor at this point.
He ridiculed Dingley's estimate and re.
ferred to the admission that means must
be found outside Of the bill as it came
from the house to supply the deficit. lie
spoke Of the various propositions the #.
nance committee had advanced and
abandoned. The beer tax, he said, would
not have cost the consumer a single mill.
1t would have been borne by the beer
manufacturers, who had been prosperous
throughout the years of industrial stag.
nation. But continued Teller, "a
great election was pending in one Of the
states where a large portion Of the voting
population did not believe in n tax ON
beer, 40 it was sacrificed" Teller argued
that there were other methods Of raising
revenue without laying inordinate taxes
on the necessities Of life lie said he had
once been greatly impressed with n re-
mark Of Allison to the effect that we had
IN this country more untouched and un.
taxed means Of revenue than any other
country in the world. Teller contsnded
II the finance committee was looking for