The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-04-28

as. With eloquent words, he touched the
hlYh unSelfish cause of humanity iii which
the United States had drawn the sword.
and then melted his audience to tears as he
referred to the blowing up Of the Maine
as q monument TO guard the memory of the
onforgotten dead. The evening session was
devoted to brief speeches by members UNI
able TO secure time at the day session.
WASTED NO TIME.
Without any evidence of excitement or
prcliminaries of any kind the House went
Into committee of the whole Immediately
after the reading of the journal and entered
on consideration of the bill. Owing to its
Importance Mr.. Dingley. chairman of the
ways and means committee. did not ask that
the first reading of the bill be dispensed
with. as is usual with bills of minor i'm
portance. The reading of the bill, which con-
sists of forty-four pages, occupied an hour
and ten minutes. Mr.. Dingley then took the
floor to open the debate The bill, he said
was distinctly a war measure. 1t was es-
sential that we should stand as a unit,
shoulder to shoulder. as * was only through
such united action that hOstilties could be
abbreviated and brought to an end at The
earliest possible moment War now was
much more costly than formerly. This war
demand on our resources, he said came as
the country was emerging from Il long
period of deficiencies of revenue and was
Just beginning to see the light Mr. ningley
then proceeded with his argument pointing
out the condition of the treasury, the eX-
traordlnary demands on ii for war nur-
poses and the necessity not only of provid-
ing the additional revenue which would be
raised by the bill, but authorizing the sec
rotary of the treasury to borrow money on
the credit of the government He followed
closely the lines of the report which he
drew TO accompany the bill when it was
reported to the House yesterday. He en-
phasized the necessity of united action in
support of the measure in order not only
10 impress Spain, but the countries Of ElF-
rope with the profound conviction that the
American Congress and the American peo-
pie stood shoulder to shoulder without re-
gard TO party in the determination to prose
cute to successful termination the war we
had undertaken.
A LONG WAR PREDICTED.
Mr.. Dingley spoke with great earnestness
and was listened to with profound attention
Many OF the Democrats left their places
and took seats on the Republican side in
order to hear the better. With great i'm
pressiVeness Mr.. Dingley said that unless
all signs failed, the war would not be a
three months affair nor a six months af-
fair, and that the more preparations we
made both for offense and defense the short
err it would be.
When he reached the question of the bond
issue he was besieged with questions by Mr..
McMillin, Mr.. Savers and other Democrats
ana there was some discussion of the prob
aole cost OF the war. Mr.. Sayers Ventured
an estimate OF $500 O90,O00 per annum, which
Mr.. Dlngley rejected, calling attention to
the TACT that the civil war cost 81, 100 600 900
per annum.
Mr.. Savers while avowing his Willingness
70 vote every dollar necessary to prosecute
the war, contended that there was no neces-
slty IL. Tor authorizing in this bill the raising
OF ot,, $aoV,oO9Vn, when Congress. would meet
again IN December. plethOric treasury in
time of war. he argued, would invite end
gone.
Mr.. Dingley pointed out that the authoriz-
alton for $500 100000 of bonds was simply an
AUTHORIZATION. If not needed. all the bonds
would not be issued. He briefly discussed
the proposition which the minority would
advance for an income tax as a substitute
for the bond proposition. The Supreme
Court had decided the tax unconstitutional
and yet it was proposed, in place of an au,
thoTization to borrow money, to remand the
government to what would come out of
lawsuit which had already been decided
against the government. 1T seems so pre-
posterous in such an emergency said SIR
Dlngiey. that / can hardly believe such
proposition is to be seriously presented =
The proposition to coin the silver seignior-
age he characterized as one of the ahsurdi-
ties of finance which was never heard of
Deyond the borders of the United States.
Seigniorage was the profit from coinage.
We were not now coming silver. Mr.. Ding
icy was given a hearty round Of applause
when he concluded.
L.
Mr.. Bailey, the leader of the minority
followed Mr.. Dingley with the opening ar
gument on his side He said that his side
realized as much as the other the necessity
of raising revenue to carry on the war and
they stood willing to cooperate in placing
at the disposal of the government every ma
terial aid for the prosecution of the war
to successful and speedy termination.
There would be no difference of opinion
that the government should be abundantly
provided with revenue. But, said he, the
minority would not be either led or driven
into the support of measures which COM
mended themselves neither to their con-
science nor judgment They reserved the
right to oppose the measures by which the
majority proposed to provide the war funds
Mr.. Bailey spoke with trace of bitterness
OF the treatment the minority had received
at the hands of the majority The chair
man OF the ways and means committee had
SAID that the pending bill followed closely
the system of war taxation which obtained
at the close of the civil war. That system
Mr.. Bailey said. had been followed in re-
spect to those taxes which fell most heavily
upon the producing and consuming classes
Beer, tobacco and other articles were taxed
but in one respect, in his opinion utterly
indefensible, the system in vogue of the
civil war had been discarded. The tax on
bank capital and bank deposits was omit
ted. At one-half of per cent such a tax
would produce $40, .006. If there was one
species of property above all Others; that
ought to be the subject of extraordinary
taxation it was bank deposits, the only form
OF property owned by one class which was
used by another. There We're in the banks
of the United States 81 100000 600 of deposits.
Proceeding with his criticism of this and
some other features of the bill, Mr.. Bailey
declared that, imperfect as 1t was, his side
of the House would take it if the other side
would accept their proposition for an in
come tax which would provide an additional
increase of 100000 900. Democratic APP
plause) He thought the estimate of Mr.,
Dingley C$25,OOOOOO month for war ex
Mr.. Bailey also commended for the propo-
sition to coin S4S,O00,0O0 of the silver
seigniorage, and to that he thought an
issue of $58, 000 900 of legal-tender notes could
be added with propriety. The greenback
circulation could be extended that far with
out danger. The gentleman from Maine
(Mr. Dingley) advocated the placing of
bonded debt on this country of 5000, 600, COO
Whenever the country's credit ought to be
pledged he would be willing to do this but
there was not, in his opinion any necessity
I'VE propose" said Mr.. Bailey Ito tax the
rich men now rather than to mortgage the
energies of the poor men for coming gen.
erations." applause on the Democratic
preme Courts decision on the income tax
case, he declared that no question was ever
settled until it was settled rightly.
Mr.. Bailey then entered on an extended
argument upon the constitutionality of an
income tax, combating the theory that it
was a direct tax inhibited by the Constitu-
ton. Mr.. Bailey said the income tax pro-
vision which the minority had drawn and
had been drawn to meet that portion of the
courts decision which was unanimous, and
in which he concurred, by exempting fed
eral, state. county and municipal bonds
Mr.. Bailey declared that the income tax
was the most just tax ever conceived. IF
| were rich and prosperous concluded Mr..