The record-union., 1898-05-25
CONGRESSIONAL
PROCEEDINGS.
Senate DeVOteS Its Time 10 Dehat-
ing War Revenue Bills.
Paragraphs Relating to Corporation Taxes
Under Consideration.
The Question of a Bond Issue and
Legal Tender Notes Touched
Upon-Little Progress Made on
the Measure-House Proceedings
of Minor Importance.

WASHINGTON, May 24.-The Senate
Chaplain's invocation at the opening of
the session was d hymn of thanksgiv-
ing for the seventy ninth birthday Of
THE beloved Victoria, Queen OF Great
Britain" The prayer was as follows:
''Oh. Thou. Prince of all Kings, we
come into Thy presence with d hymn OF
thanksgiving as We celebrate the sew
enty-ninth birthday of her gracious
majesty, the Queen of Great Britain
and Ireland and Empress of India,
whose conduct and character as daugh-
ter wife, mother, friend, as well as gra-
cious sovereign, has won and kept for
her the loyal devotion of her own peO-
pie and the reVerent regard OF all true
people of whatsoever name and race
around the globe. We pray Thee to
spare her life; grant her health; main
tain the eminence of her sovereignty;
and when the departure hence shall
come, may she go in peace, comfort and
joy. Knit the hearts of the people who
speak the English tongue more strongly
together, that we may work out the
mighty problem Of the highest civiliZa-
1ion of the whole earth"
After the transaction Of some routine
business the war revenue measure was
laid before the Senate. BY agreement
paragraphs relating to corporation tax
es were under consideration, the pend
ing question being the amendment of
McEnery of Louisiana, eXempting from
the corporation tax of limited liability,
commercial partnerships or corpora
tions, and companies or corporations of
limited liability conducting planting or
farming business or preparing for mar
ket products of the soil"
Allen Of Nebraska thought if the
amendment included the big sugar cor
porations it ought not to be adopted.
Daniel of Virginia expressed his oppo-
sition to the amendment, saying that he
thought farming and planting interests
We're sufficiently protected in the pend
ing bill.
Frye of Maine declared that the pro-
posed tax on corporations was a good
scheme to encourage enlistment in the
United States army. 4 fully and firm
" believe" said he. that if this feature
of the bill be enacted into law 100000
men will be out of work"
He maintained that the burden of law
would fall upon the men and women
who worked in the mills, for it is per-
fectly evident that in the event the tax
is LEVIED the mills must either close en-
tirely or reduce wages. In either event
strikes and misery would result in in
dustrial centers.
Frye objected to the tax on bank
deposits. because of the burden placed
upon the deposits in savings banks. In
conclusion. ne again instanced the di
rect consequences that would follow the
levying Of the corporation tax.
Platt of Connecticut a member of the
Finance Committee, declared that the
corporation tax was unnecessary, and
he believed it unconstitutional
Lindsay of Kentucky in the course of
an extended legal argument upon the
corporation tax feature Of the bill, said
it was impossible for the Government
to levy taxes of this kind except on
consumption and on industry.
Lindsay held that if the corporation
tax should become a law it would Sc
riously cripple the State of Kentucky,
as well as other States of the country.
In the course of a discussion on the
question of issuing bonds and legal ten
der notes, Lindsay noted the fact that
when the proposition to issue green
backs during the civil war was made to
Congress by Secretary Chase, every
Democrat in the House had voted
the Senate He said it was strange
there should have been such a great
change in the opinions of the Democrats
in the House and Senate, in view of the
, fact that Democrats are now urging
the issue of legal tender notes.
This bill," said Lindsay, "contem-
plates that we will use all the money
IN the Treasury except the $100.000,-
900 of gold held as a redemption fund
, and that we will issue greenbacks so
that at the end of the year all the
, money in the Treasury will be the
500 100000 of gold
Lindsay then presented the supposi-
tious case of a syndicate presenting
> greenbacks at the Treasury to the full
Z amount of the gold reserve, and draw
5ng it out, and then that of another syn
dicate presenting another hundred mil
lions of greenbacks the next day,
Where" he inquired, lis the gold to
come from to meet this demand?"