Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-07-06
NO AGREEMENT YET FOR FINAL
TARIFF VOTE.
TEST OF ENDURANCE PROMISED.
Opposition TO Dinglcy Bill shows No
Disposition To Give Way-The
Amendment Providing for Stamps
on HOnds-Cubn.

Inc senate 10 remain IN stsSiOH to-'hoi
row night, at least, until the bill was
reported from the Committee Of the
! Whole to the Senate. This promises a
test OF endurance, unless the opposition
TO the bill gives way. Mr.. Allison's state
ment was made after another futile effort
to have a time fixed for the vote.
In some respects the Senate made good
progress to-day, disposing OF two impor-
tant amendments-that placing a stamp
tax being agreed to with little or no
opposition. and without the Formally Of
a vote, while the Spooner amendment,
proposing a tariff investigation, was
withdrawn, after a protracted struggle.
Later in the day several new amend
ments from individual senators were
| voted on.
Secretary-of-Agrlcult Wilson ana
| Speaker Reed were on the floor during
| the early hours Of the session.
The tariff bill was taken up, with little
delay. and Mr.. Mills, Of Texas. moved to
amend paragraph 995, ID. by striking out
books Of all kinds" his purpose being
to place books on the free list. REJECT
eds 10 %.
Mr.. NILS then proposed new para
graph for the free list-viz. The BLDG
I'm whatever language printed
There was considerable amusement
among senator's at this proposition, but
Mr.. Mills, with earnestness. insisted on a
yea-and-nay vote. The amendment was
.ejected-2l to 25--Messrs. Kyle, stewart
and Teller voting with the Democrats, In
the affirmative and Mr.. McEnery with
the Republicans. in the negative.
A new paragraph was inserted In the
free llst-"Wafers for sacramento use,
or for coverings in holding pharmaceuti-
cal preparations"
STAMPS ON BONDS.
The new committee amendment, re-
lating TO stamps on bonds, debentures.
certificates of stocks. etc, was taken up,
and Mr.. Allison proposed several changes.
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 in evidence"
Mr. Allen, of Nebraska, while con-
curing in the general principle OF the
proposed tax, said that Congress hsd no
power to lay down a rule of evidence Tor
State court.
Senators Chiffon. OF Texas; Teller, or
Colorado, and White, of California Shared
In this view, while Mr.. Vest, Of Missouri
and Mr.. Morgan, of Alabama, ram
tanned that the provision came WITHIN
the power Of Congress.
Mr. Bacon, of Georgia, made the fur,
ther point that the amendment trenched
upon the rights of States, by prescribing
the manner of record and registry OF
such bonds, etc.
Mr.. Lindsay. of Kentucky, declared that
the provision should be struck out, unless
Congress intended 10 follow the example
of the King of England in establishing a
stamp-tax before the Independence OF
America was declared.
Mr.. Platt of Connecticut, speaking Tor
the Finance Committee, said as the ques-
ton had been raised, 1t would be care
fully considered, and il need be. changed
before the bill became a law. The stamp
amendment as a whole was then agreed
to. on a viva voce vote, no call for
yea and nay vote being made. The mo
response was light, and came from the
Democratic side of the chamber.
The amendment, as agreed TO. fixes the
following rate on bonds, ETC.: Bonds, de-
bentures. or certificates of Indebtedness.
issued after September Is, 1891, by any as
socia ton company, OF corporation, on
each hundred dollars Of face value, or
fraction thereof. cents; and on each
original issue, whether in organization or
reorganization, of certificates of stock,
by any such association, company, or
CORPORATION, on each hundred dollars or
face value, or fraction thereof, cents;
and on all transfers of shares Of certii-
Gates OF stock. in any association. com
many. or corporation on each hundred
dollars of face value, or fraction theaof,
2 cents"
Exemptions from the stamp tax are
made in the case OF State, county. and
municipal bonds, and the stock and bonds
of cooperative building associations.
Mr.. Allen proposed the amendment
heretofore offered by Mr.. Spooner, for
tariff inquiry by three members Of the
Board of Appraisers.
ESTIMATED REVENUE.
Mr. Teller took occasion in this con-
nection to criticise the committee for
first Transforming the House bill, 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 he would be glad TO have the
chairman Cir. Allison) throw some light
on the subject This brought Mr. ALI
son 10 his feet for the first definite state
ment as to the revenue expected to be
derived from the bill. He said 1t was not
possible for any expert to make exact
calculations on the amount of revenue a
tariff bill would yield. 1t had never been
done. and never would be done.
But from the best information avail
able" proceeded Mr.. Allison, 81 believe
this bin will yield $l75 100000 TO $lSO.OOoO 900
the first year-that is, from July l, 1897,
TO July /, 1928.
He said the schedules had been gone
over at every stage, as successive
changes were made. and he felt that this
estimate could be safely made. 1t APP
piled only TO the first year. after which
there would be a much larger yield Of
revenue.
How much the second year?" queried
Mr.. White.
at depends" answered Mr.. Allison.
"but l would say, something over $780,
100000.
''How much over the present law"
asked Mr. Stewart, of Nevada.
about s60O0O,0oO" responded Mr. ALI