The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1898-05-17

said yos how much money should be
nrovidad NV taxation and how much by
loan. In committee, he had been willing
to increase the revenue Ieatulo 80 as 10 III
sure $l25, ZOO, 900. On this pom. oae ooIn-
mittee on finance had peen "a 49, s ~. ~,
more thanS1 80. OO0. 900, and he thought that
the bill would produce this amount lrre-
spective of the Democratic am am, ans;
Indeed, he thought that the Dill 40 asi is'oa
to by all the members woula Pr .3e uu 10
revenue to exceed $3.50, 0O0 IVY WINS no
thought the House Dill WouAu NV
duce to exceed S105, 900, co., .;,.d os+i-
Mr., Allison hero gave detai foIio rvs
mate OF the items of increase az ioliow 70
On fermented liquors, 500, OOO,O On ~
bacoo and snuff, $50, COO, 900, and on panns'
W, 500, 900, brokers, $1,000, 900; bneav ats'
clrouses, etc., 81 800 600; bank cneoas,
etc., $4,000, 900; bills of lading express
and freight), $4,000, 900; life l nsuranoe'
Si,s7 900; mortgages, s., 900 OoO; Ieceipas'
e e1G do IN IN schedule, S2s,OOo oooi
Mr. Allison said that the estimate o.
TOTALS under the bill as reported inuepen-
oent or the Democratic amendments were
Daseo on estimates on the same articies
from the officer of the commissioner OF
internal revenue for the fiscal year end
ing IN 1893 and that the exact figures
were 1851, 1000, 900. Mr.. Allison said he
was satisfied the estimate on the revenue
to be derived from ferInented liquors was
less than it should be and he thought the
| increase would bring 1t mp so as to cause
1T to exceed 30,000,000 He said also that
while the tobacco schedule had been ma
teriaIly changed, the total yield OF the
bill on this score as reported to the sen
ate would not greatly exceed that OF tne
House bill. He thought it reasonable to
estimate that the increase that the Dill,
as reported by the Senate would give over
this present returns On these items would
not fall below $780, 900. On the other
hand possibly the estimate on theatres
and circuses licenses would fall below
the figures given. AS q matter of fact the
estimates were all necessarily far from
accurate as they were based largely upon
the returns of the census of 1890 He
gave Illustrations to show the rapid in
crease of Business for the purpose of show
ing how impossible 1t was to estimate
upon past years basis.
Taking up the amendments adopted
without the cooperation of the Republic
can members of the finance committee
and known as the Democratic amend
ments, Mr.. Allison expressed the opinion
that as to the greenbaok and seigniorage
provisions these would yield $75,000,OO0.
In the aggregate in addition to the esti-
mate OF $50, 900, 600 already given.
Mr.. A llison criticised with considerable
severity the provision for taxing corpora
tions, soy ing that it would be especially
severe upon stockholders in small corpo-
rations and it was also liable to cause
double taxation.
In conclusion Mr.. Allison said that it
was one purpose of the Senate to autho-
rlze the secretary of the treasury to bor-
row from time to time $500. 200, 900 or SO
much thereof as might be needed for war
nl1Tn0SQG axalnEiUnIu
cent bonds therefor. 1t was also the pur-
pose to authorize the secretary to issue
certificates Of indebtedness for $1,000
600 to meet any deficit in the running
expenses of the government.
Mr.. Chiffon OF Texas inquired of Mr..
Allison how much the Senate bill would
reduce the total amount produced by the
creased tax from stocks Of tobacco now in
the hands Of dealers.
Mr.. Allison replied that that would in
a measure depend upon the time con-
sumed in passing the bill. Dealers were
constantly increasing their stocks on
hand and, of course, these increased stocks
could not be taxed. In general way
would amount.to about $4,000, 900.
Mr.. White of California. said he want.
ed to call the senator's attention to the
fact that the propriety of placing an
equitable tax upon tbs oil refining inter-
ests, the sugar trust and other great
monopolies would be forced upon the
Senate. The idea was to place some of
the burdens of the present war upon those
who were able to bear them as well as
upon those who use little tobacco or
take an occasional glass of beer.
Mr.. German of Maryland inquired If
the bill as reported to the Senate did not
levy tax of one fourth of one per cent
upon the very interests Mr.. White refer
red to just the same as upon smaller cor.
porations.
Mr.. White admitted that it did, but
thought the Senate ought to have full
justice and equality in view
Mr.. Allison announced that the bill
would be laid aside for the day. Mr.
Jones of Arkansas, having the floor, with
the understanding that it was to be un-
fin ished business and would be called up
each day Immediately after the morning
business.
The Senate then at Q. 40 D. m. went
into executive session, and at 3.05 p. m. !,
adjourned.
InIIeE,C EIDcrur-1