The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1898-05-28
GORMAA FOR BOND issue.
Notable Speech By Maryland Senator
on Revenue Bill.
TIME TO SETTLE SILVER Or1pS.
TION AFTER WAR Is OVER

Supported His Amendment for Tax on
Corporations-Mr. Teller Concludes His
Argument in Favor of Silver coinaoe
and Issue of Legal Tender Notes.
Washington, May ga notable speech
on the war revenue bill was delivered in
the Senate this afternoon by Mr.. German,
Democrat of Maryland, in the course of
an argument in support of tax on cor
porations. He denounced as infamous
the decision of the Supreme court, deolar-
ing the income tax law of 1894, as I'M
constitutional. The warning sounded by
some Senators. that if tax were placed
upon corporations it would be pronounced
unconstitutional by the Supreme court
had, he said, no effect upon him. A
decision against such an enactment would
not destroy our financial structure, but it
would destroy the court which should
hand it down. Mr.. German took decided
issue with the majority Of his fellow
Democrats upon their propositions to coin
the silver seigniorage and to issue legal
VOhdOl hOOOo anu luaoO q poNCiIu1
ment in favor of the issuance of bonds to
raise funds with which to prosecute the
war.
Mr.. Teller, Silver Republican of Colo
RADIO, concluded his speech begun yester-
day advocating the coinage of the seignior-
issue Of legal tender Totes and opposing
the issue of bonds.
Mr.. Nelson, Republican of Minnesota,
presented carefully prepared argument
against the issue Of legal tender notes. In
speech Of two hours Mr.. Cockrell,
Democrat of Missouri, discussed the
financial questions in contention between
the Democratic and Republican parties.
He urged that the bill as reported by tie
majority of the finance committee ought
to be enacted into law.
Washington, May 27.-Soon after the
Senate convened at eleven O'Clock this
morning, Mr.. Carter reported from the
military affairs committee bill provid-
ing for q second assistant secretary of war
to be named by the President and to re-
ceive salary of $4,000. The bill was
passed. 5ss
Mr.. Morgan then offered this amend
ment to the war revenue measure:
"When any of the islands of the At
lartio or Pacific oceans are owned by the
United States, or when they are occupied
by the civil-or military forces of the
United States as result of war with
Spain or as necessary means of con-
Quoting such war, to be determined by
the President as the commander .in-ohief
of the army and navy of the Uni ted
States, it shall be lawful and within his
discretion for the President to appoint
civil or military governor of such island
or any group of such islands, with full
authority under such rules and regula-
tions as the President shall prescribe, not
inconsistent with the laws of civilized
warfare. to maintain good order and pro-
teot the lives and property and the domes-
tic peace of the people thereof
And there shall be extended over such
islands and enforced therein such parts
and provisions of the tax laws of the
United States or of such islands whether
relating to customs duties or to internal
taxation, as shall, in the Judgment and
discretion of the President, be justly ap-
plicable to such islands during the exist
ence of the war with Spain.
The currency of the United States,
whether OF gold, silver or paper money,
shall be a lawful tenuer in said islands SO
owned OF occupied in the same manner
and to the same extent that they are q
lawful tender in the United States in the
payment OF all debts, public or private
''And the provisions of this act that re-
late to such islands together with such
regulations as shall be made by order of
the President for executing the same,
shall remain in force until the same are
altered, amended, or repealed by act of
Congress.
taken up, MIR. Teller taking the floor to
continue his speech begun yesterday.
In concluding his argument in favor of
an income tax, Mr. Teller said that if the
propositions were submitted to the SEN
ate, he would vote for it, despite the d.
cision of the supreme court against the
law of 1894. Such a tax he said. was
supported by five decisions of the supreme
court prior to that upon the law of 1894.
81 have every reason to suppose, he
said, THAT the court may vet return to
it's former decisions. -
Mr.. Teller then discussed the proposi-
ton to coin the silver seigniorage and
made an elaborate argument in favor of
the issue of $780, 000, 900 legal tender notes.
AeololIihS W Ouo Immense amount UQ6
government has now and will have in the
future to pay, for pensions he said: ave
shall pay. the pensions of both the last and
the existing war in accordance with the
letter of the law. These pension charges
are large. yet the government has paid
since 1865, S3l2. 900, 900 more for interest
upon the public debt than it has paid for
pensions"
The question he thought was now fairly
presented as to whether the government
should issue greenbacks or bonds and he
believed not one in hundred of the
people were in favor of bonds.
Those who ought to know" said MIR.
Teller, estimate that the present war
will cost $500, 100000 if it be prosecuted
for one year. 1t will not last year. 1t
is not a war of conquest, but war OF hui,
manity. However, since we have taken
the Philippines, we ought to hold them
until some decision can be reached as to
their disposition. We ought TO take every
foot of Spanish soil outside of Spain it.
self, whether it be in this hemisphere or
in the other We ought, [ believe, to
drive the Spanish flag from the waters of
both the Atlantic and Pacific oceans.'
Mr.. Nelson of Minnesota regarded the
PROPOSED issue of greenbacks as one of the
most important features of the bill. He
declared that of all the loans made during