New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-05-20
PROCEEDINGS OF CONGRESS
THE REGULAR REPORT.
SENATE.
LITTLE PROGRESS MADE ON THE WAX
REVENUE BILL

REVENUE BILL
wA,,v.o, Nav Ie-The death OF Mt Glad
.,one was the theme Of the chaplains PRAYER a.
me onen,ng o. the Senate to-day or' E'e'h"'
c:os " he said with the whole Enslish 'sPeaH'.7
rare We stand as mourners beside me DICT VI W
mos, en,inen, OF our generation Keie'eho' var
made 20 the influence OF Mr. Gladstone on me nc
=, ,ho ,,orld and praise was given FOR the example
0, his noble NE 49, WINS ,n.,,
Toy, was passcd II calls on the secretary Oh
w. Gov ,,ans and spccihcatons for the improve
roep, OF Arkansas Pass Harhor the removal VI '''
bar and the improvement; OF the enamel h""'"s
:, ,r,,. Zoo. deem and IN feet wide AZ the bottom
.rer the morning business. consideration Oh ,le
war Revenue bill resumed Mt. VI ia. rN'.'
Dem : @ delivered set speech o" '''
OF the bill
STAMP TAX on STOCK TRANSFERS.
When the paragraph providing for stamp 'aaes
m all transfers OF stock was cohs'oeieu VI
-oS f,on Ca said the committee had not
.,n,, covored agreements sell stock, and
,ha, - Il should be established that aereemeh.
% seu" should not bear stamps unless an ac'uai
transfer OF stock took place agreeheh'S n's"' ="
made and then settlement enected without an
ac,usl transfer OF stock. The paragraph "a'
amended so az clearly TO cover all agreements 70
am 800. whether the stock actually was trans
~ C;oRMAN Dem Md thought that checks
for small amounts ought not 10 De required 10 '"'
stamps 49,, 49,, a.,
,,rn,ro,ion Of checks FOR small amounts would
,educc the revenue from this source about So'""
The tax he said. did not bear heavNy OF small
depositors and savings BANK hepo'i'o's VINO
drew money on their books IT did not bear at all
Mr. CLAY Dem GA moved TO strike out the
renurement for tax OF two cents on cach promis-
sorry note OF 500 or less 1t rejected.
Mr. Bacon moved modify the provision for
a tax on inland bills OF exchange so as 10 reiieVc
bills OF less than 500 In value from the requirement
and TO fix the rate at two cents where the value
IS between 800 and 81"
Mr. WOLCOTT Rep, COLI objected 10 the
change saying that there was no real foundation
for the objection to proposed tax except on the
stamp 1t might ne value IN campaigning In the
back counties Of Georgia.
Mr. Bacon replied that II the people OF the back
counties Of Colorado were like those OF Georgia.
they would be pretty well represented at the front
and their interests should he cared for In the bill
He said the objection was not 10 the amount OF
the tax but TO the Inconvenience 1t would occasion
10 PERSONS removed from the centres OF civiza-
ton.
Mr. German suggested that II the bill was 10
pass as reported II would carry too much revenue.
and that taxes such these now under considera-
ton could be eliminated He urged that the Demo-
cratic amendments be taken up now
Mr. ALLISON (Rep.. Iowa) suggested that II the
Democratic amendments were 10 be Included In the
bill when II became law II would carry more rev.
enue than needed. There was no way yet OF
knowing how this would be. but II they were in
cluded in the final action OF the Senate II would
Be easy enough TO return to other items
MI Aldrich opposed any change In the order OF
proceeding with the bI!
SHOULD PROVIDE PLENTY OF REVENUE.
Mr. TELLER tSlI. Rep COLI said the difficulty
was that the committee was divided as TO the sum
that should be raised revenue under the bill lie
did not believe the bill would produce much as
Nj Allison had estimated. but for himself he
wanted two-hundred- mill on-doi,ar tax He
thought the country shoul1 not on,y provide rev.
enue for the present war; but also for the next
The indications that the with Spain
1 would not long continue but to him the signs were