The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-05-19

bzskesfal Of certificates OF Indebtedness 10
meet the deficiencies caused by the Ding
iey law The Democrats had been sharp
~ criticised becaus. OF the monthlY deficit
Of the so-czIsed Wilson law. hu; the Ding
Icy law was showing singular deficits
without criticism. Nav. Turpie said. Il
vas proposed. in the pending war meas
ure. TO take care OF al the Diaglsy Iaw
deficits with the certificates of indebted
ness.
The question presented 10 congress Was
aow the necessary money should be
raised. The committee was agreed that
s15eo ,ee should be raised by taxation.
and the remaining sum, from 9.a1e0
70 fl5e,aeq o11. by other mean
Turpie thought the tax or succession
was one of the best features OF the bin.
He said it was = tax on accumulation.
while the tax on beer ard tobacco was
tax on consumption.
Turpie strongly urged the proposed TAX
on corporations He estimated this tax
would yield si19 oao.0n. and that the in
heritance provision would produce S0ao9.-
Go more. This would supply the amount
necessary 10 be raised. The remaining
$l50.6a.Ue9 necessary 10 raise could be
raised by the coinage of the silver seignior-
age and the issue Of legal tender notes.
The majority of the finance committee.
he said. had deemed It wise To propose
the coinage of the seignlorage in defer
cree 10 the wishes OF those who In
the last national campaign had made evil
dent their desire for such coinage.
The section OF the bill providing for the
issue OF greenbacks was proposed by the
majority of the committee as a substitute
for the bond section OF the bin as 1T came
from the house. For the present, Turpie
said. the Democratic policy Of the free
and unlimited coinage of silver had been
relegated 10 the hastings and the arbitra-
ment of the ballot. He argued at length
in favor Of the Issue Of greenbacks. legal
tender notes, declaring that the policy
of their issue was almost an ideal one for
the raising of money for such an emer-
gency as now confronted this government.
1T isl he said. "the most patriotic and
least expensive scheme or securing money
in a time like this known to man."
Turpie referred at some length to the
remarkable experience Of France, whose
people themselves had carried the enor-
nous loan to the government made neces-
sary by the Franco-German war. The
example of France. he thought. ought to
be followed by this country. Referring to
the proposed issue OF bones, Turpie said
its promoters had put 1t as rider in this
bill in order to place congress in durance.
German suggested that tae penalty for
failure to affix the stamp to any drug or
medicine, perfumery. etc, was too severe.
The bill as 1t passed the house provided
a penalty of 800. but the senate commit
tee had changed this so as to make the
offense a misiemeanor punishable by
fine OF not more than 500 or imprisonment
for not exceeding six months
The provision was amended by striking
out the maximum fine. leaysng Ii to the
discretion of the courts to make 1t less
than $lOe. German moved then to strike
out the clause providing for Imprisonment.
Gray. Mills and Cullom also supported
the motion. and Aldrich, Jones of Arkan-
sas, Chiffon. White and Cockreil opposed
IL. 1t was rejected 26 to n.
German asked the sena,e 10 return to
section Of the bill. providing that any
person wilfully evading the requirement to
place revenue stamps upon any legal decu-
ment or taxed paper OF any kind. should
be fined not more than $500. or lmprison-
men. Of not more than six months, or
both. He moved that the fine be fixed at
500 instead of $500. The motion was
agreed 10. 50 10 i6.
German then moved TO strike out the
Imprisonment clause. This was agreed TO
without division.
On Germans motion the Imprisonment
clauses were stricken out of sections and
9. providing for the use of revenue stamps.
The senate refused to strike out the i'm
prisonment feature of section II, which
provides for the affixing OF stamps To
stock transferred.
In section Is of the bill the stamp taxes
provided for were made effective on the
FIRST day OF June" This was amended
so as to read 1.-The 18th day of June"
The bill was then laid aside for the day,
and at o'clock the senate went into ex-
ecutiye session. and at 5:15 p. N. ad-
journed.