The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-06-02
THE WAR REVENUE BILL.
Senator Chandler Proposes an I'm
portant Amendment.
WANTS MORE SILVER MONEY COINED
Vhc New Hampshire senator OPP
poses Unnecessary Taxation-Re-
ferrcd to supreme Court

Washington. June Marked progress
was made by the senate towards the final
discussion of the war revenue bin today
The interest of the session conferred In
the action taken upon the amendment Of
Mr. German, levying a tax of one-quarter
Of l per cent on the gross receipts of all
corporations doing a business exceeding
$3.50 ,O0O year. BY direct vote on it the
amendment was rejected-27 to a.
Mr. Pettlgrew Pop, S. D., offered the
German amendment with the clause con
tanning the s250OOO exemption stricken
out but it was defeated-25 TO 81
Mr.. White (Dem, CALI. then proposed
the German amendment so modified that it
levied tax of one-quarter of / per cent on
all corporations engaged in the refining OF
sugar or petroleum. The California SEN
ator explained he desired to see tax
levied on the American sugar trust and
the Standard OIL company. The amendment
prevailed by vote of 80 to &C. 1t was sup
ported by twenty-five democrats. four ra-
puoicans, hive populsts aud two silver re-
puhlicans, and opposed by twenty four re-
publicans and two democrats.
SPEECHES were made today by Mr.. Chand
Ter tRep., y. h, Mr.. Hoar (Rep.. Mass.),
ana Mr.. Bate dem, Tenn.). Mr.. Chandler
devoted almost his entire time TO dis
cusson of the financial question, advocat-
ing the issue of bonds and the coinage OF
the silver selgniorage and opposing the Is
sue OF legal tender notes. Mr.. Hon, attacked
! some of the statements made by Mr.
! Chandler. Mr. Bate dealt with the general
provisions Of the bill from a democratic
standpoint.
Washington, June IA bill for the pro-
| lection Of homestead settlers when in the
! military or naval service of the United
States in time Of war was passed by the
senate at the opening OF the days session.
The bill provides that service In the war
with Spain shall be considered as residence
and work on the land and that by enlist
ment the claim shall not be forfeited.
When the war revenue bill was taken up
the absence OF a quorum was suggested and
fifteen minutes were consumed in assem-
| bling the requisite number of senator's.
Mr.. Chandler assuming, he said that the
majority of The finance committee would
insis; on its proposition to coin the silver
seignIorage ard that the republican minor
| ity would press its bond proposition,
thought 1t proper to offer some remarks on
, an amendment which he had offered TO the
| pending bill. The amendment follows:
| And 1t IS hereby declared TO be the poll
| icy CT the United states government not 10
| commit the country more thoroughly to the
! gold standard, but that the efforts OF the
| government in all its branches shall be
| steadily directed to secure and MAINTAIN
the use of silver as well as gold rs stand
ara money with the free coinage Of both
under a system of bimetallism which Will
Insure the parity in value OF the CONS o,
the two metals. furnish sufficient volume
OF metallic money and give immunity IL
the world OF trade from violent fluctuations
in exchange"
Referring TO the general features of the
bill Mr.. Chandler declared that tbs oppo-
nents OF the existing war should not be a.
| lowed to make IL unpopular by the intlic'
tlon upon the people OF enormous and Il
advised taxation, He urged that Il VA
better to await the Developments OF th'
war before making an extensive proyisicr
for It, He opposed the issue OF legal ten
der notes. In his opinion. however, tht
proposed coinage Of thu sl~er seignioras,
was an entirely diflertnt thing. He saw
| advantages that would accrue 10 the coun
| try from the conversion OF the seignioragt
into money and rot the leas. danger. He
also favored an issue OF ten-year per cent
| bonds rs the cheapest way OF raising needed
funds for the prosecution Of the war.
Mr.. Chandler then began discussion
OF the financial situation. in which he op-
posed tie gold standard and advocated
bimotalism. In the course of the discus
sion OF the administrations efiorl to Sc
cure International bimetallism. Mr. Chan
der criticised Secretary GAGE sharply for
the position he had assumed in attempting
irrCvocahly TO commit the administration
10 'he gold standard and criticised his hos
tili,y TO silver and international bimet-
allism. Speaking OF the action Of the
Teller resolution, which reafhrmed tho
Stanley Matthews silver resolution. he said
Secretary Gage had many supporters IN
TIM republican party. He said that al the
head OF those who vcted for the Matthews
resolution in the house was William Me.
kinley, now president and in the senate
Mr. w. n, Allison Of Iowa, He Thought
remarkable what was true and honest
twenty years ago, was trne but dishonest
lrow
Mr.. Chandler said the republican Marty
did not hesitate to reorganize the supreme