The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-05-17

mate on the revenue to be derived from fer
mented liquors was less than it should be,
and he thought the increase would bring it
up so as to cause it to exceed $30,000,000. He
said also that while the tobacco schedule
had been materially changed, the total yield
OF the bill on this score as reported to the
Senate would not greatly exceed that of the
House bill. He thought it reasonable to es-
innate that the increase that the bill as re-
ported by the Senate would give over the
present returns on these items would not
fail below 10000, 900. On the other hand,
possibly the estimate on theater and circus
licenses would fail below the figures given.
AS matter of fact the estimates were all
necessarily far from accurate, as they were
based largely upon the returns of the census
OF 1890. He gave Illustrations to show the
rapid increase of business for the purposes
OF showing how impossible it was to esti-
mate upon past years basis.
Taking up the amendments inserted with
out the cooperation OF the Republican
members of tho finance committee and
son as 5ns Sa nan nj MT
ton to the greerhack and seigniOrage pro-
visions these would yield s75,OO0.00c in the
$50 ;0ee 600 already given. His estimate in
Guided from 5000 600 TO $6.o00000 on trans
portation companies, $75e 0C1 ON telegraph
companies. 50. 100000 to $3.00O.000 on insurance
companies. SIS, O00O 600 on banks and $45, 900 900
on corporations. Mr.. Allison criticised with
considerable severity the provisions for tax
ing corporations, saying that it would be
especially severe upon stockholders in small
corporations, and that 1t was also liable to
In conclusion. Mr. Allison said that ii was
one purpose of the Senate to authorize the
secretary of the treasury to borrow from
time to time $500 600 OGL or so much thereof
as might be needed for war purposes ex-
clusively and to issue per cent. bonds
therefor. 1t was also the purpose to author
1ze the secretary to issue certificates of in
debtednesS for 500, 900, eco 10 meet any deficit
in the running expenses of the government
Mr. Chiffon (Tex:l inquired of Mr.. ALI
son how much the SeEate bill would reduce
the total amount produced by the bill by
reason of the removal of the increased tax
from stocks of tobacco now in the hands of
Mr. Allison replied that that would, in a
measure, depend upon the time consumed in
passing the bill. Dealers. We're constantly in
creasing their stocks on hand and. of course,
these increased stocks would not be taxed
In a general way he was Of opinion that the
Mr. White said be 20 a =, ut, NV So
ates attention to the fact that the propriety
OF placing an equitable tax upon the oil-re-
great monopolies would be forced upon the
senate. The idea was to place some of the
burdens of the present war upon those who
were able to bear them. as well as upon
those who use a little tobacco or take an
occasional glass of beer
Mr. German inquired if the BILL as re-
ported TO the Senate. did not levy a tax of
one-fourth of per centum upon the very in
terests Mr.. White referred to just the same
as upon smaller corporations.
Mr. White admitted that it did, but
thought the Senate ought to have full JUS
tice and equality in view.
Mr.. Allison announced that the bill would
be laid aside for the day Mr.. Jones' of Ar
kansas, having the floor. with the under
standing that ii was to be unfinished bust
ness and would be called up each day i'm
mediately after morning business The Sem
ate then, at 2:40 p. m. went into executive
session, and at S05 p. m. adjourned.
1t will be noticed that the figures on differ
ent items in the war revenue bill in the
Senates regular report show increases over
the present law. In the Senate introduction