The age-herald., 1898-05-24
STILL DISCUSSING
 WAR REVENUE BILL Chiffon and Hurley Champion the Cause
 Oi the Plain People. CORPORATIONS AND THE TAX SpOOneF, Agent of the Trusts, to the ReS-
 cue Of His Friends.
ALDRIcH PLEADS FOR MORE BONDS
While Lodge Stands Firm as the Friend of Com bine-PrOiesting Against Coin- !
 age of the Seignor-

Washington, May 2s.-For five hours to- day the senate had the war revenue meas ure under discussion. The entire time was occupied by MT. Chiffon (dem.) of Texas, MT. Lodge (rep.) of Massachusetts and MT. Hurley (dem) of Tennessee
 While MT. Lodge confined himself to a discussion of the proposed tax on corpora tions and bank deposits urging that such tax be not imposed. MT. Chiffon and MT. Turley covered pretty fully the general features of the bill. Their speeches dealt comprehensively with the theoris of taxa tion and were therefore, in the very nature of things legal and technical dissertations upon the subject No action of any kind was taken upon the bill.
 At the opening of todays session of the senate, a communication was received from Secretary of War Alger, together with draft of bill providing for the general increase in the number of officers of the corps of engineers. The bill provides that a corps of engineers of the army shall con- sist hereafter of one chief of engineers, with rank of brigadier-general, seventeen colonels, fourteen lieutenant -colones, twenty-eight majors, thirty-five captains, thirty first lieutenants, twelve second lieu tenants and a battalion of engineers. All promtons shall be made by seniority. The communication and bill were referred to the military affairs committee. After the transaction of some routine business, Mir. Allison called up the war revenue meas ure
 The pending question was pon the anne ld- ment offered by MT. McEnery of Louisiana removing the proposed corporation tax from certain classes of corporations, firms, com- panies and corporations.
 War Revenue Bill
 MT. Chiffon then delivered an extended and carefully written speech upon the gen. eral features of the war revenue bill. He expressed the opinion that the vast amount of money proposed to be raised by the bill would be needed for the naval and military operations before congress could convene next December. H did not believe, there- fore, in view of the fact that the war might come to an end in few weeks and in view of the certainty that the situation would be cleared up materially by December next, that 1t was necessary to provide so large an amount for the conduct of the war. He expressed his willingness, how ever, to join with others in furnishing ain- pie resources for the conduct of the war until July 1, 1S99 He thought it would be
  than $25,0O0,000 a month for war purposes
 He desired to show that the receipts from the Dingley were not sufficient to meet the governments demands.
 ''Then you are making a speech purely for political effect?" suggested MT. Spooner
 'I cannot foretell what it's effect may be- replied MT. Chiffon. He believed that MT. Allison's estimates amounts likely to be raised were generally too high. He pointed to estimates of his own on various schedules of the bill, the total of the prob- able receipts being, according to MT. Chill ton, $171 $50 536. He thought this total sum was not too large, for he believed every gen- eration ought to pay it's own way. In the course of MT. Chilton's discussion of the proposed corporation tax, MT. Spooner in- quired if MT. Chiffon proposed to tax the business of the corporation itself.
 Taxing Corporations
 "The tax we propose replied MT. Chil- ton, "is an occupation tax on the business of the corporation. If however, the sena- tor desires to call 1t franchise act, I'll defend 1t as such."
 'In other words," said MT. Spooner, "you do not tax the business but you tax the corporation doing the business simply be- cause 1t is corporation. Of course. I admit the right of congress to have a busi- ness or occupation tax"
 MT. Chiffon defended the proposition of the majority of the finance committee to issue certificates against the silver seignior- age. "That issue would amount" inquired MT. Aldrich, "to about s42, ,0O0, ,O00, believe you say?'
 "Yes, that is true," replied MT. Chiffon.
 'It is evident" said MT. Aldich, Eff the present price of silver be accepted the profit upon this so-called segniorage would be far greater than $i2,0OO,O00. If you are go- ing to issue fiat money why do you not pro- to dn xyit ha of money against a supposed seigniorage?"
 Taking silver certificate from his pock- ct, Mir. Aldrich read from its face the state ment that there was on deposit in the treas- ury blank silver dollars, payable to the bearer on demand"
 The old. Ola Cry
 'If certificates are issued against the so-called seigniorage;'' continued MT. Ald- rich, there will not be one single silver dollar deposited in the treasury There has been none deposited there and there can be none in the very nature of things. Why should we not issue fiat money and call it such?" MT. Aldrich said that in accord ance with the express terms of the law the government stood pledged to hold this so- called seigniorage in the treasury as se- curity for the outstanding certificates and it could not be properly touched until the certificates had been taken care of
 'That is all a gratuity," replied MT. Chil- ton '"The senator must know there is nothing of the sort he suggests in the law We know precisely how much silver it will require to coin a specified sum in dollars. The scale of an apothecary will decide that Why, then, should we not utilize this silver at once? Why should we wait until 1t is actually coined when 1t can be used now to relieve our people from the burdens of taxation? There is no reason in law, in reason, in justice or in good faith why cer- tificates should not be issued against this silver bullion already paid for and on hand"
 MT. Chiffon said the people, plain people would rebel against bonds unless the issue was absolutely necessary. The necessity for bonds did not now exist, in MT. Chil- tons opinion, and Ne did not think it would exist at any time during the present war. He spoke for two hours and a half
 Faithful to His Trusts