The Topeka state journal., 1898-05-19
PATRIOTIC MONEY
Greenbacks the Ideal Medium
For War Times.
Senator Turpie Arrafgns Ding
ley Bill Deficiencies.
ROASTS REPUBLICANS
Contends That a Bond Issue is
Unnecessary.

Washington, May 19.-The feature of
today's session of the senate was the.
speech of Mr.. Turpie Dem., Ind.) upon
the war revenue measure.
Mr.. Turpie said that the pending bill
carried a provision for a basketful or
certificates of Indebtedness in order to
meet the deficiencies caused by the
Dingley law. The Democrats had been
sharply criticised because of the month
1y deficit of the so-called Wilson law,
but the Dingley law was showing sin
gular deficits without criticism. Now,
Mr.. Turpie said it was proposed in the
pending war measure to take care Of
all the Dingley law deficits with the GER
tificates of Indebtedness.
The question presented to congress
was how the necessary money should be
raised. The committee was agreed that
$3.50, ,00O, 900 should be raised by taxation
and the remaining sum, $120, ,0O0, 600 to
$3.50, 900 900, by other means.
Mr.. Turpie thought the tax on success
sion was one of the best features of the
bill. He said it was a tax on accumula--
tion, while the tax on beer and tobacco
was a tax on consumption. He strongly
urged the proposed tax on corporations
and estimated this tax would yield
500, 600 900 and that the inheritance pro-
vision would produce $50. 900 900 more.
This would supply the amount necessa-
ry to be raised. The remaining $3.50, ,000,-
900 necessary could be raised by the
coinage of the silver SeigniOrage and
the issue of legal tender notes. The ma
jority of the finance committee, he
said, had deemed it wise to propose the
coinage of the seigntorage in Difference
to the wishes of the 10, 200, 900 who in the
last national campaign had made evil
dent their desire for such coinage. The
section of the bill providing for the is
sue of greenbacks was proposed by the
majority of the committee as a substi-
tute for the bond section of the bill as
it came from the hOase. For the pres
ent, Mr.. Turpie said the Democratic
policy of free and unlimited coinage Of
silver had been relegated to the hust-
ings and to the arbitrament of the bal
aot.
He argued at length in favor of the
issue of greenbacks, legal tender notes,
declaring that the policy of their issue
was almost an ideal one for the rails
ang of money for such an emergency as
now confronted this government.
1T is,' said he, 1.-The most patriotic
and least expensive scheme Of securing
money in time like this known to
man."
Mr.. Turpie referred at some length
to the remarkable experience of France
whose people themselves had carried
the enormous loan to the government
made necessary from the Franco-Ger-
man war. The example of France, he
thought, ought to be followed by this
country. Referring to the proposed is
sue of bonds, Mr. Turpie said it's pro-
AnOlGTS udQ put d T1Q0T on Dill
IN order to place congress in durance.
Mr.. German suggested that the penal
ty for failure to affix the stamp to any
drug or medicine, perfumery, etc, was
too severe. The provision was amended
by striking out the maximum fine, Ieav-
ing it to the discretion of the courts to
make it less than 500.
Mr.. German then moved to strike out
the clause providing for Imprisonment.
Messrs. Gray, Mills and Cullom also
supported the motion, and MeSSrS. AID
rich, Jones (Ark.), Chiffon, White and
Cockre1 opposed it. The amendment
was rejected, 26 to q.
Mr.. German asked the senate to re-
turn to section of the bill, providing
that any person wilfully evading the re-
quirement to place revenue stamps up
on any legal document or taxed paper
of any kind, should be fined not more
than $500, or Imprisonment not more
than six months, or both. He moved
that the fine be fixed at 500 instead of
$500
The motion was agreed to, 80 to 16.
Mr.. German then moved to strike out
the Imprisonment clause. This was
agreed to without division.
On Mr.. Gorman's motion the impris-
onment clauses were stricken out Of
sections and 9, providing for the use
of revenue stamps. The senate refused
to strike out the Imprisonment feature
of section IL, which provides for the af-
fixing of stamps to stock transferred.
In section Is of the bill the stamp tax
eS provided for were made effective on
the first day of June
This was amended so as to read "the
18th day of June
Another Case of Rheumatism Cured