New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-05-21
WORK ON THE REVENUE BILL
ABOUT SEVEN EIaHTHs OF THE AMEND
MENTs ADOPTED.

rup MOST IMPORTANT PROVISIONS INCLUDING
THE BOND ISSUE YET TO BE ACTED on.
washington May 2O-At the close of to-day's
,ession Of the Senate the reading OF the War
Revenue blu had been completed. About seven
eiehtbs Of the amendments proposed by the
Committee on Finance have been agreed 10.
Those remaining are the most important. ana
will provoke much discussion. The principal
amendments yet to be passed on are those re-
!atfng to the issue of bonds and certihcates OF
indebtedness, the tobacco tax, the tax on pro-
prietary articles. the issue Of greenbacks, the
coinage Of the silver seigniorage. the Issue OF
silver certificates. the inheritance tax ana the
tax on corporations. The action on some OF ire
amendments will depend on what Is done "ith
others. Mr. Adrich to-day offered as SUD-
stitute for the paragraphs relating to the com
age of the seigniorage. the issue OF silver GER
tifcates and the issue Of legal-tender notes the
bond provision prepared by the Republican MI
nority Of the Committee on Finance
Mr. Daniel delivered an extended speech.
strongly opposing issue OF bonds and sup
porting the substitute paragraphs proposed by
the Democratic majority Of the Finance Com
mttee
MORE AMENDMENTS TO BE OFFERED.
The Finance Commttee finds 1t necessary to
make further amendments to the bill. and an
adjournment was taken at the close OF to-day's
session until Monday. In order to allow the COM
mttee to devote tomorrow to this WORK
session of the committee was held To-Day ou'
there was not sufficient time to reach a conclu-
sion and the meeting was given TO discussion
Of the changes necessary and in trying to arrive
at an understanding Of what should be done 10
perfect the bill There is no division on party
~ tba
are largely of a technical character The most
important change which has been urged ana
which now seems likely to be made. is that
altering the tobacco schedule. 1t looks as X the
House rate Of II cents a pound would be re-
atored on manufactured tobacco. and as II there
also would be change in the schedule as II
affects cigarettes There are some technical err
lyors to be corrected In Schedule B. regarding
proprietary medicines. The question raised here
As as to the time the stamp should be afilxeo
and there is much difference Of opinion on this
point There is also desire to have mutual
life insurance companies exempted from some
of the requirements Of the provision IN reearo
to insurance organizations, and there IS my
ment to restore the House provision relatlng
to building and loan associations. THESE ana
probably other matters Will be CONSIDERED al TO-
morrow's meeting Of the committee
Senator Platt OF Ncw-YOrk to-day gave no
tice of his intention to offer an amendment pro-
viding for the funding Of outstanding green
backs and Treasury notes al the pieasuie VI
the holder into bonds bearing per cent inter-
est The principal Of these bonds IS mace pay
able at the pleasure of the Government after the
other interest bearing debt is paid, AND unth
Anally paid they are made recoverable into
,rreenbacks and Treasury notes. The amend.
ment also provides that hereafter currency OF
this character shall not be reeeivaple 10. ous-
toms or redeemable at the Treasury Depart
ment except in the bonds provided TOT that
purpose.