The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-07-02
'RBVENUE PROBLEM.
Republicans Struggling in
Caucus and Committee
to Raise the Wind.
TEA, BEER OR WALL STREET
Piteous Appeal for More Time TO
Offset the Blighting Eff
fects of Protection.

WASHINGTON. .Iuly 2. 1S97.-The pro-
vision for a tax on stock and bond trans
actions in connection with the tariff bill,
which was arread ,,non at the caucus of
Ranuh,;can SENATORS was suggested by
esons5n, !. .o5,.,a of yyast Virginia and grew
ort of = statement that with the tea and
beer provisions Withdrawn. the tariff bill
was likely to fan short TO the extent of
sl5. .oo0. .00e in providing sufficient revenue to
rsect the demands of the Government
The suggestion as made bv Mr.. Elkins
was that q tax of two cents per share
should be levied upon every share of stock
sold at a stock exchange or at any other
place and that a sin.:iar tax of two cents
should he collected upon all bonds sold
on the stosk exchanges or elsewhere. The
caucus ae.epted the suggestion, but de-
cided 20 leave the formulation of the
amendment with possibly change o.
rates. to the Finance Committee. The
committee took the matter up at its early
meeting today, but did not reach definite
conclusion as to the detaIls involved IN
the proposition A rough estimate places
the e1a sent OF revenue the provision Wlli
iuri'isi. u si-V'V'VV-
me caucus not oniy dec'deo not 10 I'M
tAe suggestion OF senator Prftcnard, re-
ceded from the proposed changes on
ma efactared tobacco. including snuff and
smoking tobacco. leaving only the pro-
visions IN regard te cigars and cigarettes
OF the INTERNAL revenue features OF the
Dill.
decision was reached to make the rate
en- cigarettes double that proposed ny the
FINANCE committee or " per thousaqd on
those weisiing le7s than three pounds
per thousilaa ana increasing the rate lor
tho5e OF larger size
IN the senate. today, the tariff Dill was
taken up Mr White (Caiif) IN behalf
OF the minority OF the Finance Com
mittee, asked Mr.. Allison as to the pro-
gra.nne on tea, beer, the antitrust
amendment and other important uues-
49,.
tioAs-
Mr. Allison responded that an amend
,,.nt relarine fo tho inore,sa oe tba
-. NJ 80
revenue TO De. derived from the Dill worid
be brought in later in the day AS to
oeher questions a hfeie more tune was
Mr.. Teller (Colo1 incurred what the
Z
committee or caucus contemplated ooins
on the question OF decreasing the tax on
.i1 st,i,;rs in, xy,fsxx sf vv1.it-
'',ie0 - ~ =. ~
len bS the secretary OF Inc treasury.
lAr Allison answered that the whole
question of distilled snirits had been gone
r.,,-s -, 80. 80
over personally, ne peheVeo lower
tax would be productive of greater reve-
me hut ne thought it unwise 10 go into
-,
the complex Questloh III connection with
this tariff bill.
Mr. Teller said -the letter of the Secre-
- s.1S .1.
tary OF the treasury INDICATED oeslre
for legislation on this subject Then the
cor,tor oddad.
- - ,.,,, !. s.. -,
Before tnis Dill IS disposed OF Will
discuss what should be done in decreasing
+ba tax or, sn;rits will show that the
.ls '"N oi Splits wan siio" y. ~, &c aoo '''e
committee is giving away szooo'ooo
,,.sar ,,a +.x h,,r6a,,s ana - the de+r;-
,a1t ~ bonast r Sesiers IN distiiled snirts'
The consideration of the bill then pro