The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1898-06-02
MADE GOOD PROGRESS.
Senate Got Well Into the Revenue
Bill YESTERDAY.
GORMAN'S CORPORATION TAX
AMENDMENT DEFEATED.

Amendments Offered by Senator to Tax
sugar Trust and Standard Oil Company
Adopted Though Republicans Were
Almost Solid Against 1t.
Washington, June 1.-Marked progress
was made by the Senate today towards
the final disposition of the war revenue
measure. The committee amendments
on nearly 60 pages of the bill were passed
upon and the Senate nearly reached the
principal questions at issue between the
contending parties. The remaining reso-
lutions have been already discussed tho
roughly and, aside from few set
speeches yet to be delivered, will not
arouse probably more than desultory
debate.
Inc interest OF the session conferred in
1he action taken upon the amendment
OF MIR. German of Maryland, levying a
tax OF one quarter of one per cent upon
the gross receipts of all corporations do
ing business exceeding $3.50, 900 year.
BY direct vote upon it the amend.
ment was rejected 81 to "a.
Mr.. Pettigrew of South Dakota offered
the German amendment with the clanse
containing the $3.50, 700 exemption strick-
en- out, but it was defeated by vote of
20 to 81.
Mr.. White CT California then proposed
the German amendment SO modified that
it levies tax of one quarter of per
cent upon all corporations engaged in
the refining of sugar or petroleum.
The California senator explained that
he desired to see tax levied on the Anne.
rican sugar trust and Standard Oil COM
pany The amendment prevailed by
a vote of 33 to 26. 1t was supported nv %
and Silver Republicans, and opposed by
"a Republicans and 2 Democrats.
Speeches were made today by Mr. Chand :.
Ter of New Hampshire, Mr.. Hoar, Repub
Blican of Massachusetts, and Mr.. BATE
Democrat of Tennessee
Washington, June IA bill for the
protection of homestead settlers who enter
the military or naval service of the Unit
ed States in time of war, was passed BY
the Senate at the opening OF today's SEES.
sion. The bill provides that the service
in the war with Spain shall be considered
as residents and work upon the land ana
that by enlistment claim shall not he
forfeited
When the war revenue bill was taken
up MIR. Chandler iof New Hampshire, as.
Stunning, he said, that the majority of the
Finance committee would insist on it's
proposition to coin the silver seignoirage.
and that the Republican minority would
press its bond proposition, thought it
proper to offer some remarks upon an
amendment which he had offered to the
pending bill. The amendment follows:
And it is hereby declared to be the
policy OF the United States not to com
NIT the country more thoroughly to the
gold standard, but the efforts of the gov.
eminent in all its branches shall be stead
lily directed to secure and maintain the
use OF SILVER as well as gold SIS standard
money With the free coinage of both un-
der system of bi-lnetallism which win
insure the parity in value of thu coins of
the two metals, furnish sufficient vol
ume OF metallic money and give immu-
nifty to the world of trade from violent
fluctuations in exchange"
Referring to the general features of the
Dill, MI Chandler declared that the op-
ponents OF the existing war should not
49, W A~-An0 ~ oupOputdE NY Uu6lJ
infiction upon the people of onerous and
iH-advised taxation. He urged that it
We're better to await the DEVELOPMENTS of
the war before making extensive provision
for 1T. A few months hence, he thought,
III would be far easier than it is now to
determlne what amount of taxation should
be levied
MI: Chandler announced his opposition
TO the issue OF legal tender notes, The
Wal, he said, could be fought to a trump
hant close without endangering the parity
OF gold and our existing paper money.
In his opinion, however, the proposed
coinage OF the silver seigniorage was an
entirely different thing. He saw advan-
tages that would accrue to the country
from the conversion of the seigniorage
into money and not the last danger. He
also favored an issue of ten year per
cent bonds, as the cheapest way of rails
ing needed funds for the prosecution of
the war.
Mr.. Chandler then began a discussion
OF the financial question in which he OPP
posed the gold standard and advocated
b1-metallism. In the course of discus
sion OF the administration 8 efforts to Sc
cure International bi-metallism, Mr.
Chandler criticised Secretary Gage sharp
~ for the position he had assumed in at
tempting irrevocably to commit the ad-
mlnistration to the gold standard, Fol-
lowing reference to the work of the BIZ
metallic commission in Europe he intro
duced in his speech a letter which he
wrote to the President last September in
which he prophesied the failure of the
commissions efforts ''To this letter."
said Mr.. Chandler at the conclusion of
the reading, IT received no reply
Mr.. Chandler then referred to the mes
sage of the President transmitting the
action of the Indianapolis monetary COM
mission and said the House hastened TO
take action in favor of the gold standard.
He continued to discuss the action of
Secretary Gage and criticize his hostility
to silver and international bi-metallisn.
Speaking of the action of the Teller reso-
luton which re. affirmed the Stanley Mat
thews silver resolution, he said that Secre-
tary Gage had many supporters in the
Republican party. He said that at the
head of these who voted for the Matthews
resolution in the House was William Nc
k1nley, and in the Senate William j.
Allison of Iowa. He thought it remark
able that what was true and honest 20
years ago was true, but dishonest now,
Mr.. Chandler said the Republican party
did not hesitate to re-organize the SUI
preme court in order to assert the right
OF the United States to issue irredeemable
paper money. -
He reviewed the various decisions of f6s