The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-06-02

,essessosssssssss
court in order to approve the right of the
United States to ISSUE irredeemable paper
money. He reviewed the various decisions
of the supreme court on this subject and
said that National honor was in danger
by coinage of silver if 1t was not endan-
gered by the Issue OF paper
Mr.. Chandler was accorded careful at
tentlon throughout.
Mr.. Hoar (Rep., Mass.) in reply to a
part Of Mr.. Chambers remarks. mani
tested much Indignation. He said that
whether the secretary or the treasury was
In financial accord with the administration.
with the president personally or with the
senate, did not seem to him much to affect
bill providing the sinews OF war.
Mr. Hoar characterized as vile SANDER
the insinuation that the supre ne court
was packed in order to secure the approval
OF the issue of irredeemable paper money.
At the conclusion of Mr.. Hoar's remarks,
Mr.. Chandler Immediately disciaiined any
intention either to crit'cise or asperse
President Grant or General IIoar. that
distinguished son of Massachusetts, and he
did not think such a charge was a fair
deduction.
Mr.. Bate Dem, Tenn) read a prepared
speech on the general features of the pend
ing bill. He particularly opposed tie is
sue of bonds. saying that because we were
about to triumph over Spain in war It was
hot necessary to smother it with a vast
bond issue.
He minated that the issue would bear
shackles Of gold, and while freeing the peo-
pie OF Cuba 1t was the purpose of the ad
ministraiion to enslave our own people by
fastening upon them the gold standard.
MIR. Bate supported the contention of
majority of the finance committee for Il
corporation tax. coinage OF the silver seis-
niorage and the issue of legal tender rotes.
Mr.. Allen offered proviso to the
bond amendment of the minority OF the
committee the following:
Provided, That except that as in this
act provided, the secretary of the treasur,
shall not have hereafter authority to is
sue any bond or interest bearing obligation
unless specifically authorized to do so by
congress"
The pending question was upon the
amendment OF Mr. German levying n gross
receipt tax on corporations, but Mr.. Cor
man withdrew the amendment temporarily,
saying that he desired to offer It later in
such form as would insure decisive vote
on his proposition. Consideration OF the
committee amendments was then resumed.
The provision allowing discount of So
per cent on sales of beer stamps was modi-
fed by inserting the words, ''by collec-
tors to brewers" The special tax was
MADE to take effect on and after July /.
1888
The paragraph relating to a tax on bank.
ers Is so changed as to reduce the tax from
$50 to S25 on banks employing a capital
not exceeding $4,000, when using or en-
ploying q capital exceeding $25, 900 for every
additional $1,000 In excess of S25 ,000 SO ,
ana In estimating capital surplus shall be
included The emount Of such capital tax
SNAIL be computed on the basis Of capital
ana surplus OF the proceeding fiscal year.
The paragraph relating to the tax on
insurance agents was made to read: en-
surance agents shall pay s12. Every per.
son, firm or corporation having an office
or place of business and acting as agent
etc, shall be regarded as an insurance
agent"
The tobacco taxes were modified. MS here.
after announced to have beer agreed upon
by the committee. The provision of the
paragraph levying taxes on tobacco was
modified SO as to read.
That In addition to the packing of TO.
oaceo anc snum. In packages. now author.
| lied by law, there may be packages there
| of containing Ia ounces aud az ounces.
For the paragraph providing a tax ON
dealers In leaf tobacco whose annual sales
! shall not exceed $4,000 pounds shall each
pay So; where the annual sales exceed 30. :
goo pounds and do not exceed 10o, 900 pounds
Si2; over 1000 pounds, s24.
The substitute was adopted
In the remaining paragraphs relating Ia
| the tobacco tax, the tax was levied upon
the number of pounds handled instead
OF on the aggregate price OF the tobacco
ano upon the price of cigars manufactured
instead o: on the cost OF the cigars.
Section II of the bill providing for the
cancellation of stamps was eliminated.
The provision requiring a stamp 10 be
placed on certain medicines was amended
SO as TO exempt presentations written NV
praetlcins physicians and surgeons OF
which may be put I'D or compounded by a
druggist or pharmacist
The tax on money orders was restricted
TO original domestic money orders issued
by the government.
MI. German then offered his amendment,
taxing corporations upon their Gross re-
ceipts as substitute for the committee
amendment levying a tax Oh express and
freight packages and upon all telephone
messages upon which toll Is paid As
hnally proposed. MIR. Gormaa's appointment
provided that the tax on tho gross receipts
OF corporations doing business which ex.
ceeds Sg5o,o year should he ono quarter
of per cent Tho amendment was. defeat
| ee-2I to si--es follows:
AYES-e7.
Bacon, Bate.
| Berry. Butler,
/ Cannon, Cockrell
DANIEL Faulkner.
German. GRAY.
,lairs' Jones tArk,),
Kyle NcLauriu,
Mallory. Martin.
/ Murphy, Nelson.
Iaseo. Perkins,
hoheh' Stewart,
sullivan, Tiliman.
Infify. Turpie.
White,
NoES-st
Alsrcn. Allison,
fa.er. Burrows
Caffery. Carter.