The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-04-09
ISSUE OF WAR BONDS
Bankers and Others Discuss
the Proposed Loan.
BILL TO RAISE TAXES
Is in Course of Preparation by
the Committee.

gan has had important New York bank
ers in conference at his Office touching
national financial affairs. big pros
pective bond issue was discussed. After
the meeting a member OF Morgan's firm
hurried to Washington, ostensibly IN the
interests of the bond project. This move
may prove OF vast immediate importance.
That a government loan must soon be
negotiated is fully realized and the sug-
gestion that il be made a popular loan
met with general approval
]. Harsen Rhodes. OF the Green w1ch
Savings bank, when asked his opinion.
wanted 70 know what security the gov
eminent was going 60 give A dispatch
from Philadelphia, quoting c. r. Lewis.
banker, said that city would probably
take SIS. 600 900.
Tsadore Newman, a banker, interviewed
at New Orleans. Thought s2,Ooo. 900. of gov
eminent per cent $50 bonds could be dis
posed OF at par in that city. julius
Runge, a Galveston f1nancie-, said such
a Joan would be popular there.
j. j. Mitchell of the Illinois Trust and
Savings bank at Chicago is quoted as
saying:
IF the loan was 500. 900, 900 and issued
in bonds ranging from $50 to $500 they
would be rapidly snapped Up at par I
don't think popular loan netting under
8 per cent would go. When a country is
confronted with war such bonds could be
sold readily. for the people would be in
fuenced by sentiments OF patriotism as
we'll as by tfe knowledge that such bonds
could not fail to be a good investment
WAR TAX BILL PREPARING.
Washington April S.-The members OF
the ways and means committee OF the
house are busily enga ged with the treas
ury officials in the work preliminary to
the drafting of a war revenue measure to
be introduced in congress Immediately
upon the opening Of hostilities with Spain
An increase in the internal revenue tax
on beer from 81 TO 81 a barrel. and large
increase in the tax on manufactured to-
bacco, including cigares and cigarettes.
has been practically agreed upon. Bank
checks. bills of exchange. drafts, deeds.
mortgages and other paper of this class,
patent medicines and nostrums in ell
probability also wild be added to the list.
A rough estimate of the receipts TO be
derived from these sources is that the
increase on these articles alone will ap-
proximate. if not exceed. 500, 900. 900 a year.
Beer, it is thought, will produce an in
crease of $40. 900. 900: manufactured tobacco
an increase Of $50 600. 900 or more and COM
mercfal paper and patent medicines sS2.
600, 600 Another source of revenue which
IL is said is almost certain to be awaited
of is transactions in railroad and other
listed stocks. It is believed that the re-
turns from this source will be large. In
all the figuring so far. the remaining In
dustries and the professions which were
taxed for strictly war purposes during the
rebellion have been left out of the ac-
count An increase from . to 8 cents on
letter postage and a tax on gas and cleo
trio light has also been suggested to the
department burt these items have not yet
been considered. The increase of 1 cent
an ounce on letter postage probably would
augment the receipts by $50 900, 900 a year.
A bill 1prowding for a temporary loan
OF 500, 600 900 and a permanent loan Of
from $500 0OO, 900 90 s5oo, 600 900 at 3 per cent
payable in coin has been prepared by the
ways and means committee and will be
Immediately introduced in case OF war.
The whole question Of the finances OF the
government in view of probable hosulities
is being carefully considered by the treas
ury officials 50 that definite and well
thought-out plan of operations may be at
the disposal of con ress in case Of need.
FOR A CONSIDERATION.
Kansas City. April s.-'-My yacht At
Iants and everything that have viii be
a the disposal Of rhe government in case
of war" said George Gould of New York
70 a reporter today at the Union depot
He was enroute east from Omaha, and
had stopped of here between trains
And what can ohis government expect
from the moneyed men OF New York in
the event Of war;" he was asked.
Whatever help and as much as it
needs" replied Mr.. Gould.