Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1898-04-27
SINEWS OF WAR.
Dingley Points Out Necessity Of
More Revenue.
MONEY MUST BE PRODUCED.

Were Secured During the Civil War.
as Originally Formulated Proposals
Made by the Democrats-The Bill Under
Debate In the House.
WASHINGTON, April 27.-Chairman
Dingley of the ways and means COM
mittee submitted to the house with the
war revenue bill a report, in which he
said:
IAN examination of the condition of
the treasury will make it apparent that
no time should be lost in providing
ample ways and means for carrying to
successful conclusion the war in which
we are now engaged.
''The apparent cash balance in the
treasury when the joint resolution ap-
propriating $50, 100000 for national de-
Tense was passed was about 1925, 000,-
600, including the 500, 100000 gold re-
deeming fund, or 1925, 100000 excluding
the fund. But this balance was only
apparent, inasmuch as $13,000,000 con-
sisted of fractional silver, largely un-
current, and minor coins, leaving only
S112,0 100000. But Of this amount $14,-
100000 consisted of receipts from the
sale of the Pacific railroad, held in the
treasury for the payment of that amount
of Pacific railroad bonds due Jan. next,
and $33, 100000 of the bank redemption
fund held for the payment of the notes
of national banks failed, in liquidation
of reducing circulation. Deducting
these amounts and the actual available
cash in the treasury at that time be-
longing to the government, exclusive of
the greenback redemption fund, was
only 100000
"Inasmuch as a working balance of
about $40, 900 is required to properly
carry On the operations of the govern
ment there remained only 500, 100000
belonging to the government available
for use in meeting the $4,000, 900 APP
preparation. 1t will be necessary in
order to meet all of the expenditure
under the $50,000,000 appropriation-all
of which will have been expended
within few weeks-to use $25, 1000 600
of the bank redemption fund, a part of
which must be replaced before the close
of the present calendar year.
'Inasmuch as the difficulties with
Spain have plunged the country into
war, whose magnitude and length can
not now be intelligently forecasted, it
is necessary that measures should be
Immediately taken to provide ways and
means to carry on naval and military
operations on a scale and with prompt
ness which will exert an important in
fuence in shortening the conflict. AS
the expenses of the preparations for de-
Tense that have been going on for nearly
y,,oY,f1,c orc o. hn 10 %
600 per month, or $500, 900 per an
mum, and the expenses of actual war
will be much more, your committee are
of opinion that the necessities of the
country as well as the early successful
conclusion of the war, call for such am
pie provision, both by taxation and au-
thority to make loans, for means to
carry on naval and military operations.
"With this object in view, your COM
mittee recommend the levying of in
ternal revenue taxes either on articles
of voluntary consumption or ON objects
that will make such taxes fall mainly
on persons able to contribute to the ma
tional defense, which will in the aggre-
gate yield from 800, 100000 to $1,000
600 of additional annual revenue
The report then enumerates the differ
emit articles to be taxed and the estimate
heretofore published of the amount of
revenue to be derived and continues:
"These are all taxes on objects which
were assessed during or subsequent to
the Civil war, with one exception, and
therefore open up no new and untried
system of taxation. They are all in
ternal revenue war taxes that can be
collected by the existing internal rev.
enue officials, slightly increased, with
small additional expense and with the
minimum disturbance of trade, al
though they are all taxes which are un-
welcome, and which it would not have
been necessary to impose if war had
been avoided.
''We have given, therefore, authority
to issue and sell not exceeding $500, 000,-
900 OF 1920 8 per cent coin bonds, re-
deemable III ten years, to be offered as
popular loan, believing, as we do, that
such bond will be taken from time to
time by the masses of the people,
The bill reported to the house con-
tains three changes from the bill as
originally drafted, as follows:
IA discount of 5 per cent on beer
stamps is allowed after the passage of
the act. Telephone messages are sub
ject to tax OF ! cent on messages trans
mitted 30 miles or more, the cost of
which does not exceed 25 centr; between
% cents and $150, 2 cents; between
$1.35 and So, 5 cents; in excess of $5,
10 cents. Official telephone and tele-
graphic messages of the government are
exempt from taxation. The differential
of 10 a cent on mineral waters and bev-
erages, domestic or imported, not 9TH
erwise subject to internal taxation, in
half pint bottles, is eliminated, so that
the dividing line is pints, bottles con-
tanning one pint or less to pay cent,