New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-06-02

N
Mr. BATE Dem. Tenn read speech on 'he
general features OF the pending bill He partcu-
larly opposed the issue Of bonds, and supported ING
contention of the majority OF the Finance Commit
tee for a corporation tax. coinage OF 'he S'Ne'
eeirnioroce and the issue OF esal-tender notes.
Mr. ALIE.< pop, Neb.) offered as proVlso u
tho bond amendment OF the minority Of the COM
mittee the following:
Provided that except that as in this act proyhdea
the Secretary OF the Treasury shall not have mere
NY o.bor,v TO issue any bonds interest bear
ing obligation unless specifically authorize" - Wv
so by Congress.
AT WORK ON AMENDMENTS AGAIN.
The nend,nc question was he amendment OF
Mr. German levying a gross receipt tax u" co,
noro.,ons hut Mr. German withdrew the amend
ment temporarily saying tina; he desired to oner IL
later in such form would insure drec' 'o'e
upon his proposition 5000. ..
Consideration OF the committee amendments "
tho h,u was then resumed. The proviso allowing
s,.oo,,. =. ~ ner cent on sales of beer stamps
was modified by inserting the words "by collectors
10 brewrs 49, - -
The special taxes were made to take elect on anu
after July !. 1898. - l..
The paragraph relating to TAX OH "a-Ae'' 80,
so changed as TO reduce the tax from =" 10 go
IN hanks EMPLOYING a capital not exceeding 10
ooo when using or employing captal exceed
ing so5 600: for every additional thousand doiars
IN excess Of $4,000. s.; and In estimating cap'a
surplus shall be included. Tne amount u '
capital tax shall be computed on the basis oil cap
i,al and surplus OF the preceding fiscal year
The paragraph relating TO the TAX ." '''D'
agents was made TO read:
Insurance agents shall pay 81 Every person
arm or corporation haVins an shall be re-
ga rded insurance agent
The tobacco taxes were modified as heretofore
announced to have been agreed upon by the com
mittee The proviso Of the paragraph ieVyihs
taxes on tobacco was modified so as 10 read;
That In addition to the quantity Of tobacco ana
snuff in packages now authorized by law there
may be packages thereof containing one ana three-
fnurths ounces and three and one hall ounces.
For the paragraph placing tax on dealers IN
leaf tobacco the committee offered this substitute:
Dealers in leaf tobacco whose annual sales snal
the annual sales exceed 5000 pounds and 40 not nc,
| exceed 900 pounds. sl2, over IWeo pounus' S-'
The substitute was adopted.
In the remaining paragraphs relating 10 the To-
bacco tax the tax levied on the number or
pounds handled instead Of on the aggregate price
Of the tobacco and on the number o. cigars manu-
featured instead OF on the cost OF the cigars
The change made. it was explained, In order
| to facilitate the work OF collecting the tax
Section II OF the bill. providing for the cancela-
| ton OF stamps was eliminated.
The provision requiring a stamp 10 be placed on
| certain medicines amended so as 10 exempt
recipes prescriptions written by practising phy-
slclans and surgeons "or which may be put up or
compounded by a druggist pharmacist"
The tax on money orders restricted TO orig
inal domestic money orders issued by the Govern
ment
MIR GORMAN'S AMENDMENT DEFEATED
Mr. GORMAN Dem. Md then offered his amend
ment taxing corporations on their gross receipts
subs.! tute for the committee amendment levy
ing a tax on express and freight packages and
| all telephone messages which toll IS paid. AS
finally proposed. Mr.. Germans amendment pro
vided that the tax the gross receipts Of corpo-
| rations doing business exceeding &9o'W n year
| should be one-quarter OF one per cent
Mr. PETTIGREW (Sl-Rep.. S. ID sharply at
| tackled the amendment. holding that tho exemp-
| ton OF s2joDro ought not 10 be made.