The herald., 1898-05-21
MOST OF the AMENDMENTS
AGREED 70
REAL STRUGGLE COMING
ev1n BOND Issuz AND suv11
>1NAaa
DEMOCRATS DEPENDED UPON
- make = Specially Bitter Fight
Against the Paragraph Author
ixing Bond Issues

4.
Against the Paragraph Author
ising Bond Issues
Associated Press Special Wire
WASHINGTON. May s.-At the con-
elusion tot today's session Of the senate
the reading Of the war revenue measure
had been completed. About seven-eishths
I Of the amendments proposed by the senate
COMMITTEES have been agreed to. Those re-
naining are. quite naturally the most im-
.portant In the bill and will provoke a deal
OF discussion. The principal amendments
yet to be passed upon are those relating
to the issue Of bonds and certificates Of in
debtedness. the tobacco tax. the tax on
proprietary articles, the issue Of green
backs. the coinage of silver seigniorage. the
issue Of silver certificates, the Inheritance
tax and the tax on corporations. The &C.
tion upon some Of the amendments will
Be dependent upon that ON others.
Aldrich Of Rhode Island. Republican. to-
day offered, as = substitute for the para
graphs relating to the coinage of seignior-
age. the issue OF silver certificates and tho
issue Of legal tender notes. the bond pro-
vision prepared by the Republican minor
ity Of the committee on finance. II the bond
provision should. be accepted by the SEN
ate, the amendments offered by the DEM
ocrats In lieu thereof will naturally be re-
jected.
Daniel Of Virginia. Democrat, delivered
speech, strongly opposing an issue of
bonds and supporting the substitute para
graphs proposed by the Democratic ma
Jority Of the finance committee.
In the senate today, Hale Of Maine,
Chairman Of the Committee on Naval AZ
fairs, favorably reported from the COM
mittee the House joint resolution providing
for the organization and enrolment Of an
auxiliary naval force which shall form an
inner line Of defense. An amendment by
the Senate Committee provides that the
force shall not exceed three thousand men.
The resolution was passed.
A bill was reported from the Committee
on Indian Affairs. and passed. authoriz-
ing the Secretary Of the Treasury to re-
fund &5.sss to the Chicago. Milwaukee and
Ct. Paul Railway Company. the sum hav-
Ing been deposited in the United States
Treasury many years ago a. . guarantee,
and for which no value was received.
joint resolution was passed calling
upon the Secretary Of War for q report on
the Sabine Pass Improvement.
At the conclusion Of the morning busi-
Ness consideration Of the War Revenue
measure was resumed.
sThe pending question was upon section
: = Of the bill. which had been stricken out
by the senate committee. The section au-
thorizes every firm or corporation selling
goods under contract to add to the price
such tax as might be levied by the law.
German of Maryland thought the para
oraph ought not to be stricken out.
Wolcott Of Colorado advocated the elm
nation Of the paragraph. He thought II
the law now gave the seller the right to
receive the tax In addition to the contract
price no change was needed. The commit
tee amendment taking out the paragraph
was agreed to.
As to the stamp proposition. the commit
tee, through Aldrich, offered an amend
ment in the nature of substitute for the
committee amendment regarding the tax
on board Of trade or stoc exchange
transactions. The substitute reads: :.
Upon such sales, agreement or sale or
agreement to sell Of any products or mer-
chandise at any exchange or board of
trade. or any similar place, either for pres
ent or future delivery, for each 800 in value
OF said sale or agreement to seel, cent,
and for each additional 800 or fractional
part thereof in excess of 800. l cent"
The amendment makes provisioq for the
levying and collection of the tax imposed.
The amendment was agreed to.
Mr.. Daniels Of Virginia then addressed
the senate on the general provisions Of the
bill.
Every man In congress, whatever his po-
litical affiliations, Mr.. Daniel said stood
squarely behind the president, and indi-
vidually and collectively would give him
earnest and sincere support He maint tanned,
however. that absolutely no necessity ex-
listed for plunging the country into great
bounded debt on account Of the existing
war. He was unwilling, he said, to mort
gage posterity, to burden future genera
tions with debt. the example Of which
would be q constant temptation to extrava-
gance. Mr.. Daniel maintained the authors
Of the house bill had protected the wealth
ana taxed the property Of the country.
Mr.. Daniel said the stamp tax was the
most odious and pestiferous tax Invented by
man. 1t was tax which must be paid
daily. He expressed the hope that the COM
mittee's amendment levying the tax on
corporations would be agreed TO, as he was
assured many Of the corporations them
selves would not object, and the people
would most heartily approve it.
Tho committee amendment striking out
the tonnage tax was agreed to.
The committee amendment relating to
the taxation Of legacies and distributive
shares Of personal property was read. A
committee amendment maintaining the
le6acies excepted $4,000 instead Of 5000 was
agreed to.
Mr.. Lodge could see no good reason for
excepting bequests from wife to hus-
band OF husband to q wife. He therefore
moved that the provision making this ex-
omption be stricken from the bin. The
anaendmeut was rejected.
Pending the discussion Of an amendment
~ Mr.. Bacon, the inheritance tax para
graph Vas passed over.
Uponsthe completion Of the reading OF the
mi. Mr. Aidrich offered the bond provision
a&d the provision authorizing certificates OF
hidebtedness a. substitutes for the sections
Is The biil reported by the majority Of the
oomnittee providing for the coinage Of sill
V6f seigniorage, the issue Of silver certif-
Z. ~ ~ and .fhe issue of IJnfted afatea s,o<ae