The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-05-20
TALK On THE REVENUE BILL.
DEMOCRATS STILL ATTACKING THE
PROPOSED BOND ISSUE
Some Protests, and senator Cor.
man Explains That the NH VIII
Proauee Far Toe Much Revenue.

Mr.. Gladstone was made the theme of the
chapiain's invocation at the opening OF the
senate today. At the conclusion Of thu
morning business. consideration OF the war
revenue bin was resumed. McLaurin OF
South Carolina delivered q set speech
Speaking Of the war In which we are now
engaged, he said Spain supposed that COM
merciai greed had stified patriotism.
This. 10 her sorrow. she had learned at
Manila. was not the fact. She had real
ised that Dewey was . worthy successor
TO Decatur and Perry. :
He was prepared. he said. TO vote for
any measure that would tend to bring the
war TO successful conclusion. People on
the island of Cuba are dying every hour
Their condition Is beyond description Ev-
cry day now means the loss of hundreds,
perhaps thousands. OF lives In Cuba, Nc
Laurin declared. Liberty on the island is
at stake. and the war has placed our own
national prestige at stake. Concerning the
proposed issue of bonds, he said that there
was an influence at work in this country
more powerful than the president, more
potent than congress. It was the silent.
secret influence OF the money power, which
was endeavoring to force an issue Of
bonds. Once the senate, the forum OF the
people, yields to this clamor. McLaur.n
declared and. becomes entangled In the
neshes of the money octopus, the people
VIII suffer indeed.
There is an army in this country said
he Just as anxious to raid the United
States treasury as. our volunteers are to
raid the island of Cuba. In the army re-
fer to no volunteers are needed These job
bers and spectators form a greater men
ace to US than the war with Spain"
McLaur;n defended the bill as reported
by the majority of the finance committee.
and hoped that, with the possible excep-
ton OF the stamp tax. which he deemed
unnecessary, the bill would pass as re-
ported.
AT the conclusions Of MeLaurIn's speech
the clerk proceeded with the reading Of the
bill.
When the paragraph providing for q
stamp tax upon all transfers of stock came
up the point was made that should II be
established than an agreement to sell''
should not bear stamps unless an actual
transfer Of stock took place. agreements
might be made and then a settlement ef-
fected between the parties without an ac-
tual transfer of stock. The paragraph was
amended so as to clearly cover all agree
ments to sell stock, whether the stock ac-
tualiy was transferred or not.
German thought transfers of small
amounts ought not to be required to bear
stamps.
Aldr.ch in reply said that the e,mina-
ton Of checks &c: small amounts would re-
duce the revenue from this source about
s.. 900. The tax. he said, did not bear
upon small depositors heavily, and upon
savings bank depos.tors. who drew money
on their books, It bore not at all.
Clay Of Georgia moved to strike out the
requirement OF a tax OF cents upon each
promissory note Of 500 or less. 1t was
rejected.
Bacon moved to so modify the provision
for a tax on inland bills of exchange as
to relieve bills of less than 500 in value
from the requirement, and to fix the rate
~ ~Ant- yLAr h. rl..4 t.
500 and $780,
Woicott objected to the change, saying
that there was no real foundation for the
objection to the proposed tax except upon
the stamp. German suggested that if the
bill was to pass as reported, 1t would carry
too much revenue. and that taxes such as
these now under consideration could be
eliminated. He urged that the Democratic
amendments be taken up now.
Allison suggested that IL the Democratic
amendments were to be included in the
bill. IL 1t should become law IL would
carry more revenue than was needed. but
there was no way yet OF knowing how
this would be. but II they were included In
the final action Of the senate II would be
easy enough TO return to other items.
Aldrich opposed any change in the order
OF proceeding with the bill.
Teller said that the difficulty was that
the committee was divided as TO the sum
did not believe the bill would produce as
much as Allison had estimated but as for
himself, he wanted a 500. 600, coo tax. Con-
t!nu.ng, he said he thought the bill should
not only provide revenue for the present
war. but also for the next. Teller said
that the Indications were that the war
with Spain would not continue long, but
to him the signs were equally strong that
within a few years we would be Involved
In another war. which migh1. and prob
ably would be of far more serious conse-
auences than the contest with "the seven
by nine" country with which We are now
contend.ng.
Upon rob call the amendment was lost
by a vote OF Is TO Il.
Mallory of Florida believed that the tax
or telephone messages would be difficult
10 collect.
Allison explained that the requirements
of receipt for messages did not apply to
residence telephones, but TO pay stations,
OF which there are thousands In ali large
cities.
On all other telephone transactions the
books OF the companies would give the
number. etc.
On Teiler's suggestion the amendment
relating TO express. freight and telephone
messages was laid over for further con-
sideration.
The committee amendment referring 20
the taxes upon life insurance policies was
passed over at the suggestion OF White OF
California The other committee amend
msnts, relating 10 marine, inland, hre, cas-
ualty and guarantee Insurance, were
agreed 10.
Referring TO the tax on druggists sup
plies now on hand. Allison said that many
senators had received letters urging that
the stamp tar be not laid on stocks on
hand Allison said many druggists were
willing to pay tax on such articles when
they sold them. although they objected to
being forced 10 go through their stocks
and stamping articles. He believed. too.
that the stamps ought to be placed On ar
tscIss when sold al ~holesale.
Bacon thought the retroactive feature In
every part of the bin unjust. and Il ought
to be eliminated
Aldrsch pointed out that If the articles
IN the hands OF the retailers we're not
taxed. Il was absolutely certain that
none q. the articles would be in the hands
OF manufacturers on the day the bsa be
came a law. In answer 10 a question OF
Raoon. Air.ch said he had seen n a trade
paper the statement that the amount o.