The evening times., 1898-05-07

give q power OF attorney for the col
lection of his pension Is required to pay
a higher tax than he who gives a power
of attorney to vote stock at a stock
holders meeting in any one of the numer-
Gus corporations of the country. Certi-
ficates Of all kinds are taxed. those COM
ing under the general saving clause being
taxed at ten cents. 1t matters not for
what purpose these certificates are is
sued Under this provision the certificate
issued TO school teachers and everything
of that class will be taxed. The criticism
is made that in these various items those
matters which would operate against
certain classes ought to be avoided, and
the bill so framed as to force the COL
lection OF revenue from persons who are
not in the habit of contributing their
share of taxation for the support of the
Government under the ordinary methods
of taxation; in other words, that the poor
should be exempt from the operations Of
this war tax
The bill seems to be framed so as to
tax those who gamble in stocks and
bonds, but even in this particular 1t Is
loosely drawn. There is nothing in 1t
that taxes spectators In the wheat pit
at Chicago, on the coffee exchange or
in various other boards where specu-
Iaion is conducted and which, in the
opinion of many, ought to be taxed If
one branch of the business is taxed.
The provision for the taxation of in
heritances. SUGGESTIONS and 1egacies will
probably be put in the bill. 1t was offer
ed in the committee yesterday. and has
the support of Mr.. wolcott. which in
sures its being inserted, for the Demo-
Gratis are all favorable to it.
The committee has removed the injunc-
ton of secrecy from the statement made
before the committee by Secretary Gage
the other day. but there is little in 1t that
has not already been published Accom-
panying 1t. however. was a communica-
tion from the Secretary of the Navy, in
which he estimates that the following
amounts will be needed by the bureaus
named for the fiscal year ending June
30. 1899. in addition to the amount pro-
vided for in the naval bill which has
just passed:
DuIcdu, Slz,Vp,VUv, CONSTITUTE
tion and repair. si2. .0oc. 900; steam engineer
ing. 5000 900: equipment, 81, 900. 900; yards
and docks. ss.25O,o 900; supplies and ac-
counts. $500, 900; navigation, $eOS, $50; med
icine and surgery. 500. 900: to meet emer-
gencies and extraordinary expenses. s2o,-
o00.o0 Grand total. $75 556. $50. The last
item. the Secretary says, will not be ade-
quate II the Navy should meet with any
serious reverses in the engagements
which 1t is likely to have with the enemy.
In his testimony Secretary Gage says
the ordinary receipts of the Government
have fallen on somewhat or account of
the present condition of affairs, and that
so long as war continues 1t is to be
expected that customs receipts will not
come up to the mark previously reached.
He makes a strong plea for bonds. but
1oes not think that these bonds will be
taken by the people direct in any great
numbers. but rather by the financial in
stitutions Of the country. When asked
by Senator Wolcott for his reasons for
this opinion, Secretary Gage replied:
There are several reasons. In the first |
he French people. IL you please, in !
whose country there are no savings |
ranks. In our country there are 5000, 900 |
'eople who have money in savings banks |
It a general average rate of interest of |
per cent. The money is available to |
hem at any moment. The temptation
md self-interest to invest in 3 per cent |
onds and disturb their little balances in
he savings banks is not very great.
'In France the individual has his
money. his little savings. slowed away In
stocking or a sack or a private hoard.
t is In cash. It is drawing no interest,
and when the government puts
ut loan 1t is his opportunity. Our peo-
lie have larger opportunities. That Is
hs principal reason why think the
rhole sioo.ooo.ooo VIII not BE- taken by
rivats persons" j