The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-05-21
WAR REVENUE MEASURE
READING OF THE BILL COMPLETED
IN THE SENATE YESTERDAY.
About Seven-Eighths of the Commit
tee Amendments Agreed TO-Prin-
cipaI Features Passed over.

sion of to-day's session of the Senate the
reading of the war revenue measure had
been completed. About seven-eighths of the
amendments proposed by the Senate COM
mittee have been agreed to. Those remain
ing are, quite naturally, the most inn
portant in the bill and will provoke a deal
of discussion. The principal amendments
yet to be passed on are those relating to
the issue of bonds and certificates of in
debtedness, the tobacco tax, the tax
proprietary articles, the issue of green
backs, the coinage of the silver seigniorage
the issue of silver certificates, the Inheritance
tax and the tax on corporations. The
action some of the amendments will be
dependent on that on others. Mr.. Aldrich
to-day offered as q. substitute for the para
graphs relating to the coinage of the seign-
forage the issue of silver certificates and
the issue of legal-tender notes, the bond
provision prepared by The Republican
minority of the committee on finance. If
the bond provision should be accepted by
the Senate the amendments offered by the
Democrats in lieu of it will naturally be re-
jected. Mr.. Daniel delivered extended
speech strongly opposing an issue of bonds
and supporting the substitute paragraphs
proposed by the Democratic majority of the
finance committee
Soon after the Senate convened Mr.. Hale,
chairman Of the committee on naval af-
fairs, favoraby reported from the COM
mittee the House joint resolution providing
for the organization and enrolment of an
auxiliary naval force which shall form
inner line of defense. An amendment by
the Senate committee provides that the
force shall not exceed 5000 men. The reso-
luton was passed.
A bill was reported from the committee
on Indian affairs authorizing the secretary
of the treasury to refund $15335 to the Chi
cago, Milwaukee & st. Paul Railway Com
pany, the sum having been deposited in the
United States treasury many years ago as
a guaranty and for which no value was re-
ceived by the railroad company The bill
was passed.
At the conclusion of the morning business
the consideration of the war revenue meas
ure was resumed. The pending question
was upon Section % of the bill, which had
been stricken out by the Senate committee.
The section authorizes every firm or cor
poration selling goods under contract to add
to the price such tax as might be levied by
law.
The committee amendment striking out
the paragraph was agreed to.
To the stamp tax provision the commit
tee, through Mr.. Aldrich, offered an amend
ment in the nature of a substitute for the
committee a1nGnQuenI, NT6RdIulIlS the TAX
on board of trade and stock exchange trans
actions The substitute reads: Upon each
sale, agreement of sale or agreement to sell
of any products or merchandise at any eX-
change or board of trade or similar place,
either for present or future delivery, for
each 500 in value of said sale or agree
ment of sale or agreement to sell, one cent,
and for each additional 500 or fractional
part thereof in excess of $lO0 one cent"
The amendment makes provisions for the
levying and collecting of the tax imposed.
The amendment was agreed to.
Mr.. Daniel then addressed the Senate on
the general provisions of the bill. At the
conclusion of his speech Mr. McEnery pro-
posed an amendment to the paragraph OF
the bill placing tax on all corporations
the law should not apply to limited liza
biEty commercial partnerships, or corpora
limited liability conducting planting or
farming business, or preparing for market
products of the soil" AT Mr.. Aldrich's re-
quest the question was passed over for the
present.
The committee amendment striking out
the tonnage tax was agreed to.
The committee amendment relating to the
taxation of legacies and distributive shares
of personal property was read. commit
tee amendment making the legacies except
ed $4,000 instead of 5000 was agreed to.
Mr.. Lodge could see no good reason Tor
excepting requests from wife to a ,hus-
band He therefore moved that the follow
ing provision be stricken from the bill:
THAT all legacies or property passing by
will or by the laws of any State or Terri
tory to husband or wife of the person died
possessed, as aforesaid, shall be exempt
from tax or duty" The amendment was re-
jected.
Pending the discussion of an amendment
by Mr.. Bacon the inheritance tax paragraph
was passed over.
Upon the completion of the reading of the
bill Mr.. Aldrich offered the bond provision
and the provision authorizing certificates Of
Indebtedness as substitutes for the sections
of the bill reported by the majority of the
committee providing for the coinage of the
silver seigniorage, the issue of silver GER
tificates and the issue of United States
notes. The bill was then laid aside.
The Senate, at Abs p. m, went into exec
utive session, and shortly afterwards adj
journed until Monday.
Senator Platt, of New York, to-day gave
notice of his intention to offer an amend
ment to the war revenue bill providing for
the funding of outstanding greenbacks and
treasury notes, at the pleasure of the hold
err into bonds bearing per cent. interest
The principal of these bonds is made pay
able at the pleasure of the government
after other interest-bearing debts of the
government are paid, and until finally paid,
they are made recoverable into greenbacks
and treasury notes The amendment also
provides that hereafter the currency of this
character shall not be receivable for GUS
toms redeemable at the Treasury De-
partment except in the bonds provided for
that purpose.
ixiT Inv re-