Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1897-07-08
WANTS A FINAL VOTE
MIR. ALLISON WILL HOLD OUT
FOR ONE.
CHANGES IN TARIFF BILL
Bond Tax Is Agreed to with Little OPP
position and the Spooner Amend
ment for a Tariff Commission Is
Withdrawn by the Committee
Revenue from New Bill $3.50 000, 900,

Mr.. Allison. in charge of the tariff bill.
al nounced that no agree ment had been
reached for final vote on the ,aritf
! blll. He says that he will ask the
81 1 ate to remain in session tonight at
least until the pill is reported from
the committee of the whole to the SEN
ate. This promises To test the endur-
ance Cn the bill. Mr., Allisons state
ment vas made after another futile
effort lad been made to have time
! fixed for vote In some respects the
senate made good progress Monday
disposng of two amendments, that of
( leNying stamp tax being agreed to
with little or no opposition, and with
out the formalty of vote, while the
/ Spooner amendment, proposing a tar
/ if investigation was withdrawn after
protracted struggle,
| The stamp amendment as agreed 10
fixes the following rates on bonds, etc:
Bonds, dobentures or certificates of
/ Indebtedness ISSUED after September
/ Is, 1885,, Ivy any assC citation, company
or corporation, on each 500 OF face
value " fraction thereof, cents and
on each original issue whether organ
| ization or reOl ganiZation of certificates
of stock by any such association, com
rany or corporation on each 800 of
face value or fraction thereof 5 cents;
and on all transfers of shares or Ger
titicates of stock in any association.
company CT corporate II Oh each 800
OF face value or faction thereof.
eel ts." Exemptions from stamp tax
es are made in the case of state coun
t" and municipal bonds, stocks and
bonds of building associations. Late
in the day several new amendments,
from Individual senators were voted
en- One by MIR Mantle, reducing the
Internal revenue tax OF distilled spir-
its to 20 cents per gallon, was defeat
ed, % TO Al An amendment by Mr.
Mills. proposing tax Of . per cent on
manufactured products, the proceeds
|
debts. was rejected 10 to Sc. An
amendment by Mr. Mills, granting a
20 per cent. reduction in certain cases
was also rejected
F-r. Teller took occasion to criticise
the committee for first transforming
the house bin and then going back in
substance to the house rates. He had
tried to learn what amount of revenue
the bill would yield and he said that
he had attempted to have Chairman
Allison throw some light on that sub
ject. This brought Mr.. Allison to his
feet for the first definite statement as
to the revenue expected
From tho best information avail
able" proceeded Mr. Allison, II believe
that the bill will yield from sl75, 600 900
to s1S0, 600 900 the first year, that is
from July l. 1897 to July. 1898" He
said that the schedules had been gone
over at every stage as a succession of
changes Rad been made and he felt
that this estimate could be safely
made II applied only to the first year
after which there would be a much
larger revenue.
"How much the second year,
Cucried Mr. White.
It depends - answered Mr. Allison,
but | should think over 5000 900 600 ."
"lfow much over the present law"
asked Mir Stewart
"About $50 600, 900, responded Mr..
Allison, but that will depend upon the
tcCndition of our industries, IT Is not
possible to make more than a general
estimate
Mr.. Spooner trep.. Wis., defended his
amendment He denied that the sec
Rotary Of the treasury would under
his amendment have the power TO sup
press any portion Of the report submit
ted 10 him. The commission would
finnish information which he hoped
would have beneficial results Mr.
Morgan opposed the commission
amendment on The ground that con
gress had no right to delegate its
powers. Mr.. Allison briefly answered
tho criticisms on the Spooner amend
ment and then said that in view OF
the opposition developed tho commit
tee would withdraw the amendment.
as II was not felt to be sufficiently inn
portant 20 further delay the biz