The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-05-17


the House-Senator Allison Pleads
For the Corporations.
Washington, May 16.-The debate
upon the war revenue measure was be-
gun in the senate today. The opening
statement for the committee on finance
was made by Mr.. Allison of Iowa, the
ranking member, in the absence of Mr..
Morrill, of Vermont. 1t was estimated
that the bill, as it came from the house
of representatives, would raise about
500, 900 a year. As reported from
the senate committee Mr.. Allison esti-
mates that it will raise $751;, 497 ,O66.
At the conclusion of Mr.. Allison's
statement the bill was made the unfin-
ished business and it will be pressed
to passage as soon as possible.
Mr.. Morgan of Alabama introduced
resolution calling upon the secretary of
the Interior for information concerning
the progress of work on the Nicaragua
canal and concerning the financial af-
fairs of the Maritime Canal company.
The resolution was agreed to.
Mr.. Allison of Iowa then called up
the war revenue bill and reported
statement of its features to the senate.
MIR. Allison said that as the bill came
from the house of representatives it
was an internal revenue measure, and
as reported to the senate it was still
an internal revenue measure. Com
paratively, said he, there are no pro-
visions in it for increase of customs
duties.
He said that the finance committee
had carefully examined all of the
schedules of the house bill and had
been led to believe that schedules. A
(stamp taXes) and B proprietary ar
ticles) were too general in the scope.
Consequently they had been amended.
On the beer and tobacco taxes on
schedules a and B and on the tonnage
tax matter the committee was sub
Stantially a unit.
COST OF THE WAR.
Mr.. Allison said further that in the
committee there was no difference of
opinion as to the necessity OF the bill
1t was purely war revenue measure.
With a, view to ascertaining how much
money would be required to run the
war during the next fiscal year, al
though he expressed the hope that it
would last only few weeks, or a few
months at most. Mr.. Allison said that
the committee had obtained the best
possible estimates from the secretary
OF war and the secretary of the navy.
Secretary Alger estimated that his de-
partment would need $50, 1925, 527. To
this sum must be added at least S15,-
OtO,00O to pay expenses authorized by
congress after the estimate was made
The estimate of the secretary. of the
navy OF the expenses Of his department
Tor the same period was SI5, 556 $50, but
in addition To this sum the amount
carried by the naval appropriation bill
must be considered as part OF the
expenses Of the navy. In addition to
the $50,000,000 already appropriated as
a war fund which Mr. Allison an
nounced parenthetically had been prac-
tically expended, the forthcoming gen /
eral deficiency bill would carry a de- I
ficiency appropriation for the current /
year of about $50, 900, 900, and there is I
naval deficiency of about So, 275, GOO.
The senate finance committee there |
fore figure that it would require /
total Of at least 1919, 192, 600 to pay the /
expenses of the war from the present 1
time until July 1899. not taking into
account any emergency expenses that !
might arise at any moment.
ORDINARY RECEIPTS.
Mr.. Allison then carefully analysed /
the ordinary receipts and expenditures |
of the government. In the course of |
this statement he expressed the opinion
that the estimate Of the secretary of /
the treasury that the present tariff [
bill would this year raise 5000, 600, 900 /
was too high. In present circum-
stances and conditions he doubted
whether the bill would produce more
than 10000, 900.
The important question, he said was
how much money should be provided
by taxation and how much by loan. In
committee he had been willing to in
crease the revenue feature so as TO in
sure 1925, 00000G On this point the COM
mittee on finance had been divided,
some members desiring 10 raise as
much as or more than $3.50, 600 600, and
he thought that the bill would produce
this amount. irrespective of the Demo-
cratic amendments. Indeed he thought
that the bill as agreed to by all the
members would produce even to ex-
coed $l50,0O0,000 While he thought the
house bill would not produce to eX-
coed $105,O00,O00.
DEMOCRATIC AMENDMENTS.
Taking up the amendments inserted
without the cooperation of the Re
publican members Of the finance COM
mittee, and known as the Democratic
Mr.. Allison expressed
opinion that in addition to the green
back and seigniorage provisions, these
would yield sI5,0O0,000 in the aggregate,
in addition to the estimate of $50, 0OO,-
600 already given. His estimate in
Guided FROM $1,000 900 to $4,000. 600 on
transportation companies, $750000 on
telegraph companies. s2,O00,0O0 or 49,
OOO,OGO on insurance companies, SIS, 0O0-
600 on banks and S45,OO0 600 on corpora
tons. ;
FRIEND OF CORPORATIONS.
Mr.. Allison criticised with consider
able severity the provision for taxing
corporations. saying that it would be
severe on stockholders in
small corporations and that it was also ;
liable TO cause double taxation.
In conclusion, Mr.. Allison said it was
the duty Of the senate to authorize the
OF the treasury to borrow (
from time to time $500. 900 900, or so {
much thereof as might be needed for
war purposes exclusively, and to issue
3 per cent bonds therefor. It was also
the purpose TO authorize the secretary
Of the treasury TO issue certificates of
for 500, 600, 900, to meet
any deficit in the running expenses of
the government.
SHOULD TAX THE TRUSTS. !
Mr. White of California said he
wanted to call the senates attention I
TO the fact that the propriety of plac-
ng an equitable tax upon the oil re-
fning interests. the sugar trust and
other great monopoles would be
forced upon che senate. The idea was
to place some of the burdens of the
present war upon those who were able [
10 bear them. as well as upon those
who use little tobacco or take an oc-
,asional glass Of beer.
Mr.. German of Maryland inquired If
The bill as reported to the senate did