The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-05-12

WASHINGTON, May n.-With the
exception Ct a few administrative feat
uTeS the war revenue bill is ready for
report to the senate. This report will
be- made tomorrow, but the considera-
! tion Of the measure will not be begun
before Monday.
With the assistance of Senator Jones,
I! Of Nevada, the Democrats had control
Of the finance committee and adopted
their amendments, which include cor
porat1on tax of one-Guarter Of ! per
cent, a provision for the c)inage of the
| seigniorage and the issuance of $780,
100000 greenbacks. The bond provis-
ion is eliminated.
1t required only little more than an
hour for the committee to dispose of
! the Democratic amendments. 1t was
soon made evident that Senator Jores,
of Nevada. would vote with the Dem
ocrats on all their anna ndmentS, and as
his vote turned the scale against the
Republicans, they DID rot enter into a
stubborn struggle to prevent this con-
summation.
The vote to strike out the b3nd feat
IRE stood 6 to 5, as follows: Jones, of
Chiffon Democrats), and Jones, Of Ne
vada (Silver Republican,. for it; and
Aldrioh, Allison, Platt. of Connecticut,
Wolcott and Burrows (all Reput licans),
against Senator Morrill, Rep) and
Vest (Dem) were raired, Vest for the
motion and Morrill, against it.
The amendments for the issuance of
greenbacks, the coinage of the silver
seigniorage and the taxation of corpO-
Sations were all incorporated by the
same vote.
TAX ON CORPORATIONS.
The Democrats charged their rate on
corporations at the last minute, reduc-
ing it from u to u CT 1 per cent.
They made this reduction because Of
the uncertainty as to the amount Of
the revenue the amendment would pro-
duce. 1t was the generally expressed
opinion that the sum would, even at
this low percentage, be very large, but
there was no opportunity for even ap-
proXimating the figure.
This provision is a very comprehen-
sive one. 1t covers all corporate
with a few exceptions, imposing a tax
of one-quarter or l per cent upon the
gross receipts. The exceptions are
charitable, educational and religious
institutions and strictly mutual benefit
associations which are exempted, the
exemption to mutual concerns being
made so as to include only those which
lean money to their own Members.
Building and loan associations were
exempted from the operations of the
bill, but the provision dealing with
this matter was changed. and the Ian
guage Of the exemption In the Wilson
German act practically substituted for
it,
beer tax during the day, but it was de-
cided to leave the matter as it raised
the house with an increase of the re-
bate from to ~ per cent
The committee decided to recommend
reduction of the tax on cigars from
81 to $3.50 per thousand, and on cigar
cites from 50 to s1.50
PROBABLE REVENUE
There was some general discussion in
committee Of the amount of revenue
the bill would produce. The estimate
of the Democratic members placed the
amount at $150,000,0G0 from the reve-
nue. portion. The coinage of the seign-
forage would increase the amount to
the extent of s42, OOO, OOO and the green
backs would make the total $342 900, 900,
or $42, 100000 In excess of Secretary
Cages estimate of the requirements of
extra revenue to meet the first years
expense Of the war;
The bill will hardly be recognizable
by its authors when reported, as it
has been so generally amended in both
phaseology and rates as to make it
practically new bill. There are few
paragraphs that have not received
some attention.
The provisions in regard to the tax
alton Of bankers and brokers' bills Of
lading, inheritances, Futures" pro-
prietary medicinal articles, etc, were
left as previously fixed. The house pro-
vision for a tax on mineral waters was
stricken out entirely