The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-04-27
REVENUE BILL.
,poRTED TO THE HOUSE WITH
- THREE CHANGES.

Provided-TeIePhon Mes
-. Are subject to 1 Cent Tax.
oao,a1 Messages of the Govern
inf Exempt From Taxation-Mr.
na,Iav offers the Democratic Nil
r,+v substitute for the Issue OF
bonds
1,-,sbington, April sS.-The war revenue
,rl as reported to the House contained
i - changes from the bin as originally
drafted. as followsi
discount Of per cent. on beer stamps
!. allowed after the passage of the act.
o,.,.nbone messages are subject TO TIE
If cent on messages transmitted
| ..rty miles or more, the cost of which
| nor exceed % cents, between % cents
aa 2 cents; between $50 and So,
nents. in excess of IS, 10 cents. Official
t.,s,t .ie and Geographic messages of the
,o,.. nment are exempt from taxation.
THE diderential Of one-half' a cent on
.,ireral waters and beverages, domestic
:. inported, not otherwise subject TO in
,.rng taxation, in half pint bottles, is
animated, so that the dividing line is
nints bottles containing one pint or less
- nav one cent, more than one pint, two
4 cents. ri
At the meeting of the ways and means
.ommittee to-day Mr. Bailey, on behalf of
he Democratic minority, offered the sub
,itute agreed upon by them for the propo-
sion in the bill authorizing the issue of
Ea0 O00O00 coin bonds. 1t provides for an
| income tax of per cent on incomes from
al sources in excess of $4,000. State. coun-
and municipal bonds, however, were ex-
snpled from it's provision to meet the
unanimous decision of the Supreme Court
II this respect.
The minority estimated that such an in
0me tax would raise S1OO,O0000O. Coupled
With it was the proposition to coin the
silver seigniorage, which at present
amounts TO $42,OOOOOO. The substitute was
! voted down by a strict party vote. Mr..
Dingley submitted to-day report with
the war revenue bills, which contains the
| following
The apparent cash balance in the
treasury when the joint resolution appro-
| priatlng $50,O0000O for national defense
| was passed was about S225,0O0,000, including
/ the Sl00,Co0,OO0 gold redemption fund, or
4 S250e0C0J excluding that fund. The &C
/ tua available cash in the treasury at that
4 tine belonging to the government, exclus-
4 i've Of the greenback redemption fluid, was
1 only 100000.
'Inasmuch as a working balance of
i about $40,0O0,000 is required to properly
carry on The operations of the government,
/ there remained only SIS, 000,000 belonging to
/ the government available for use in meet
ing the $50,000CC0 appropriation. 1t will
be necessary, in order to meet all the ex-
| pendture under the $50,0O0000 appropria-
ion, all of which will have been expended
| within a few weeks, to use 900 of
the bank redemption fund, part of which
must be replaced before the close of the
present calendar year.
Inasmuch as the difficulties with Spain
| have plunged the country into a war
| whose magnitude and length cannot now
| BE- intel gently forecasted, il is necessary
| that measures should he Immediately
taken to provide ways and means to carry
On naval ana military operations on a
4 scale and with a promptness which viii
exert an important influence in shortening
the conflict.
a. Tue GAptHSSS u ltl0 PiGpdA otiVio ASA
defense that have been going on for near
4 II two months are at the rate of $25,0O0,O 900
| per month or $500, 100000 per annum and the
expenses of actual war will be much more,
/ your committee are of opinion that the ne
csssities of the county, as well as the early
successful conclusion of the war call for
such ample provision, both by taxation
and authority to make loans, for means to
carry on naval and military operations as
will impress the great powers of Europe
as well as Spain with the conviction that
the United states are united in the deter
nination to conduct the war on scale
end with he v,gor that makes the prolon-
cation Of hostilties useless.
with this object in view. your commit
lee recommend the levying of internal rev.
nue taxes, either on articles of voluntary
consumption or on objects that will make
such taxes fall mainly on persons able TO
contribute to the national defense which
will in the aggregate yield from necessity
70 &o0c0O,000 of additional annual revenue.
The report then enumerates the different
articles TO be taxed and the estimate here
letore published of the amount of revenue
10 be derived.
In conclusion the report says: ut is evil
dent that it will be necessary, in order to
Maintain the public credit not only to raise
The additional revenue provided by the ac-
@mpanying bill, but also 10 authorize the
Secretary of the Treasury TO borrow on
he credit of the government from time to
Tine as the public necessities will require.
We have given, therefore, authority to
issue and sell not exceeding $500000,00O of
len-twenty (of per cent? coin bond, to be
o1ered as a popular loan, believing as we
DO that such bond will be taken from
une to time by the masses of the people
In view of the fact that it will pc nee
Ssary in a very few weeks before the pro-
posed war taxes can bring results and be-
lore The loan authorized can be placed TO
HoVne means to meet the rapidly aug
Renting war expenditures, authority Is
gwen the Secretary of the Treasury TO
temporarily borrow money in no case eX-
eeedns one year by the issue of per
cent certificates of Indebtedness. IL is
Important that the Secretary of the Treas
ufy shall have the authority in any eXig-
eHcy that may arise in the future"
f0BpO RICO's SITUATION GRAVE.