The times., 1898-05-25
The War Revenue Bill.


with the gold and Wall Street element.
In a carefully prepared and scholarly
speech delivered last Friday. Senator
Daniel presented the view opposed to
a bond issue at this time with extreme
point and clearness. He introduced the
subject by saying:
II is strengthening and delightful fact that
the whole people OF this country behind
their Chief Magistrate in the pending conflict
Neither Washington, in conducting the Revolu-
tion, Madison, in conducting the war Of
lsl2, nor Polk. in the with Mexico, nor
Lincoln in the unhappy fratricidal strife which
has now become an ancient tale, had public senti-
ment so unanimously supporting his efforts 10
wage has the hOnored President
of this Republic who himself nobly guiding
the way TO congeniai union, has the felicity of
fortune 10 contemplate united aud trusting ranAs
around him.
SO. Mr.. President lot us all remember that
there is no possible eXigency and no conceivable
circumstance in which this Administration can
be possibly embarrassed by any lack Of resources.
whether OF treasure or manhood, 10 uDhoid the
flag Of the Republic, and To bear It to that
victory which is already assured.
There is another fact which Is as transparent,
and which, II not transparent TO all minds, Is
capable OF easy demonstration. There is not the
slightest occasion plausible pretext for plung-
ing this country at this time into any bonded
debt for the purpose Of prosecuting this
thing which would give this Republic prestige
among the nations OF the earth, there Is nothing
conceivable which would assure that prestige
more than 10 give demonstration TO the world
that it j. 81 great. so powerful. patriotic, 50
united. and ready to respond in Treasure and
IN blood 70 the calls Of its Chief Magistrate
that he could conduct 4 war without plunglng
this people and future generations in a public
debt.
am tor meeting this war. Mr.. President. in
direct, plain, heroic. American fashion. We
hotter 1t lTuTDepS the
highest duties and responsibilities and the
sternest tasks, and they should be met here,
as on land and sea, in field and in council. with
out finching from their consequences. War must
be paid f0r. There comes IN the grievous burdens
of taxation. but the people will bear them with
a brave, self-sacrihcing spirit. They will not
American people ever shrink from taxation hon
estly imposed, fairly distributed and justly ap-
piled to a patriotic purpose.
] not afraid of my constituents Mr.. presi-
dent to vote taxes upon them TO maintain this
Administration and the of this Republic,
although they are in no good condition for those
taxes TO be borne. / unwilling TO mortgage
posterity and TO hand down a great public deot
which will be the fruitful source OF many burdens
and standing temptation TO extravaganza
Mr. Daniel arraigned the advocates
Of an interest bearing debt for war pUr-
poses for bringing in a measure which
they called an internal revenue bill. but
which was really a borrowing bill
A seventh part Of this bill is internal revenue,
an effort 10 raise sl00. 900 600 OF taxes by jumping
on tht. subiects-TnatteF that are already taxed
and increasing those taxes and by adding one
or two sporadic subjects OF taxation which have
been selected for some cause other not for
any cause that ] discover known TO the
teachings OF sound finance. One hundred mil
lions u internal revenue taxation and SIX hun
dred millions Il debit That is what ms hon
orable friend calls an internal revenue bill, be-
cause. f0rsoOfh. the many pr0liX clauses which
concern internal revenue cover fifty or sixty
pages and because the debt Of six hundred mil
lions is disposed Of IN a few lines 10 which
should be preiaced the usual words that come
In on the heading Of postscript: ~. b. (nota
bene)-Six hundred millions Of debt
These two excerpts from the speech
afford perfectly lucid idea Of some OF
the objections which those senator's
who. before the war were subject 10
classification as Democrats. Silver Re
publicans and P0pulists. but who are
now regarded by us simply as patriotic
Americans. entertain against the propo-
sition which passed the House. but does
not promise 10 meet like fate at the
other end Of the Capitol. They do not
Ike the bin for additional reasons. since
its internal revenue features seem to
bear heavily upon things OF voluntary
consumption" by the poor and middle
class millions OF the country, while
touching lightly the accumulated
wealth OF the rich.
Senator Daniel and others who have
spoken on the subject insist that the
inequities Of the measure are durable
by distributing its tax features so that
they VIII not hit the luxuries of the
masses at the rate Of quite fifty per
cent. and let corporate wealth assume
a share of the burden. in the way of
such things as franchise and gross in
come taxes. 1t is assumed by the Gov
ernment that the extraordinary ex-
penses on account of the war may be
placed at twenty-five million dollars a
month for the next fiscal year. That
would require three hundred million dol
lars to June 80. 1899. 1t is believed by
those who agree with the Virginia
statesman that this sum could be
easily and economically provided, with
out grievously harassing the people,
and without adding to the inter5st-bear-
ing debt of the nation. A revenue
schedule which would produce some
thing over one hundred millions, but
not principally to be taken out of the
poor; the issue Of certificates against
the forty-two million dollars Of silver
seigniorage now in the Treasury, and
the issue Of one hundred and fifty mil
lion dollars of legalNtender notes, would
accomplish the object. Supposing that
the exigencies of our foreign troubles
should necessitate larger rate of ex-
penditure, it is urged that Congress
could appropriate any needed differ
ence at its meeting in December. For
that reason the immediate necessity for
authorizing the creation of a new pub
tic debt of six hundred million dollars is
not apparent
Without committing ourselves def
nitely at this time to tax policy in
detail. we are satisfied that the sche-
dulles as they passed the House, or as
amended in some minor respects and re-
ported to the Senate, should be SUBJ