The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-04-28
DEVSING THE WAYS AND THE MEANS.
First Of the Three Days Debate in the House of Repre-
sentatives on the Bill Providing the
Sinews of War.

characterized as one OF the absurdities
in finance which was never heard OF oe-
yond the borders of the united states
Seieniorage was the profit from coin
age. We are not now coming silver.
Mr.. Dingley was given a hearty rounu OF
applause when he concluded.
Mr.. Bailey. the leader of the minority.
followed Mr.. Dingley In opening the ar
gument on his side. He said that ms
side realized as much as the other the
necessity OF raising revenue 10 carry on
the war. and they stood willing to CO.
operate in placing at the disposal OF the
government every material aid Tor tne
prosecution of the wal to a SUCCESSFUL
and speedy termination. There would
be no difference of the opinion that the
government should be ~abundantiy pro
vlded with revenue. But. said he, the
| minority would not be either led or
driven into the support OF measures
| which commended themselves neither TO
| their conscience nor their udgm
| They reserved the right TO oppose the
measure with which the majority pro-
| posed to provide the war fund.
Mr.. Bailey spoke with a trace OF Dit
tarness at the treatment the minority
had received at the hands OF the ma
jority. The chairman OF the ways ana
means committee had. as TO the penulhs
bill. followed closed the system OF war
taxation which obtained at the Close
OF fnt CIVIL a ihot
| Bailey said. had been followed In re-
spect TO those taxes which ran
most heavily upon the producing anu
consuming classes. Beer, tobacco ana
other articles were taxed: but in one re-
spect. in his opinion utterly indefensi-
Bile. the system in ogu at the emo OF
the civil war had been discarded. The
tax on bank capital and banking pro-
posals was omitted. At y OF i per
| cent. such a tax would produce slO,coO'-
600. II there was one species OF prop
erty above all others that ought TO De
| the subject of extraordinary taxation IL
was bank deposits, the only form OF
property owned by one class Which was
used by another.
There were in the banks of the United
States 81. 100. O00, 900 of deposits. Pro-
ceeding with his criticism OF TINS anu
some other feature OF the Dill. MI.
Bailey declared that. imperfect as IL
was. his side OF the house would take
IL IL the other side would accept thelr
proposition for an income tax, which
would provide an additional income OF
500. 600. 900. Democratic a~pplause.) He
thought the estimate of Mr.. Dingle
(s25. OOO, 600 "A month for war expehseS)
a reasonable one.
Mr.. Bailey also contended Tor the
proposition to coin s4s, 0oo, 5000 of the sill
yer seigniorage and to that. he thought
an issue of s5s.O 900. 200 of legal tender
could be added with propriety. Inc
sreenback circulation could be EXTENDED
that far without danger. The gente-
man from Maine CMr. Dingley) adVo-
Gated the placing of a bondeu oept OF
this country OF $500. 900. 600. whenever
the country's credit ought to be pledged
he would be willing TO do this. but there
was not. in his opinion. any necessity
for mortgaging that credit at this Tune.
w propose" said Mr.. Bailey. TO tax
the rich men now rather than To mort
gage the energies OF the poor men loi
coming generations" Applause on the
democratic side.) Discussing the ques-
ton of the supreme court decisions on
the income tax case. he declared tnat
no question was ever settled until II
was settled rightly.
Mr. Bailey then entered upon an eN-
tended argument upon the constitution
; ality of an income tax, combating tht
theory that II was a direct tax inhibited
by the constitution. Mr.. Bailey said TN
I income tax provisions which the mi
{ nority had drawn. and which would %
!, offered by Mr.. McMillin, had beer
!. drawn to meet that portion OF the court
] decision which was unanimous. and II
! which he concurrcd. by exemptlng fed
y eral. state. county and municipal bonds
u MIR. Bailey declared the income tai
was the most just tax ever concelNen
!, III I were rich and prosperous, con
cluded Mr.. Bailey, Il wouid cohttlout
I, OF my own abundance to my couh.,'
= in this time OF stress. because woul'
|. not want IL said in the history OF tnes
times that the poor gave more or thei
blood than the rich are willing TO CAV
y of their treasure" ,Applause.)
- Mr.. Dolliver, rep. Iowa, a member :
IA the WAYS and means committee, wa
y then recognized. He was listened !
a. with close attention. and was frequen'
% ly interrupted by applause. lie sai'
=. in part: There are two ways IN Whic
"A a government can support q laree 90
~ pense of this character, either by co
N Letting IL I'm cash or by borrowing IL o
: credit. The committee on ways an
- means have fully considered both met
DDS. and have made up thelr mlhe
that the government 9 TO pay =
IL goes as far as IL can. leaving as u
a. tie of the burden of our Intervention
cuba to the future as possible.
n IF the war upon which we are ADO
to enter was to secure new natloh
n possessions or n other acquisition
~. material assets the case might preset
10 a view somewhat different. But her
on for the first time In the history OF q
world a nation has OF its own NoItt'
re- thrown away a prospect OF assranoih
all ment and has based it's action upon al
a interested grounds. so that '
.,s are about TO do, however much IL mi
ms minister to the present satisfaction al
IN. moral comfort of the community, co
ga Germs posterity vastly less than IL do
US.
III there was a case I'm the history
ras the world where a situation amounti
TO a declaration of war was the dire
n, result of the wish and purpose OF. I
NO. people themselves. | tbs In this ca
ne In cannot be said that the president
600 the United States has plunged his cou
try into a war. IL he had done
heedlessly, putting into peril the "
arv fare OF a country like this. instead
ha, being entitled as he Is to the resp
and confidence of the world, IL woi
ooo be better tina a mill stone would
in hanged about his neck and he W,
A. own in the depth of the sea. X
tory will scquit the president OF 81
ntil an act OF hos'"i'S " '" N' ="
fare.
Il do not predict the size and
-, cost of the undertaking In which
- I'M. ~ .AnALelL i'm