The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-05-12

Washington, May 11.---With the excep-
tion Of few administrative features. the
war revenue bill Is ready for reporting 10
the senate This report probably VIII DC
made tomorrow, though consideration oil
the measure will not be begun before Mon
day
With the assistance OF Senator Jones
(Neyo the democrats had control OF the
finance committee and adopted their
amendments, which include corporation
tax of one-quarter Of l cent, provision
for the coinage Of the seignlorage and the
Issuance of $3.50. 600 in greenbacks, The
bond provision Is eliminated. II required
only little more than an hour for the COM
mittee to dispose OF the democratic amend
ments. II was soon made evident that SEN
ator Jones New would vote with the
democrats on all their amendments and as
his vote turned the stale against the re-
publicans they did not enter into stub
born struggle 10 prevent this consumption.
The vote TO strike out the bond feature
stood to 5, as follows; Jones tArh.),
Whit, Turpie, Daniel and Chiffon. DEM
ocrats, and Jones (Ney.), silver republican,
tor 1t; Allison, Aldrich, Plait tConn,), VOL
colt and burrows. republicans, against 1t.
Senator Morrill, lRep) and Senator Vet
were paired.
The amendments for the issuance Of
greenbacks, the coinage OF the silver seig'
niorage and the taxation OF corporations
were all incorporated by the same vote.
The democrats changed their rate on
corporations at the last minute. reducing II
from one half to one-fourth OF / per cent.
They made this reduction because OF the
uncertainty as to the amount OF revenue
the amendment would produce. 1t was the
generally expressed opinion that the sum
would even at this low percentage be We y
large, but there was no opportunity Tor
even approximatlng the bgutes.
The report is very comprehensive G
and covers all corporations with Il fey ex-
ceptions. imposing tax Of a OF cent
on gross receipts The exceptions are char
table. educational, relgious and eleemosS-
aary institutions and strictly mutual ben-
eft associations, which are exempted, the
exemption to mutual concerns being made
so as to include only those which lonn
money to their own members.
Building and loan associations were eS-
empted from the operations of the bill,
but the house provision dealing with this
matter was changed and the language OF
the exemption in the Wilson German act
practically substituted for 1t.
There was some discussion Of the beer
tax during the day, but 1t was decided to
leave the matter rs II passed the house
with an Increase Of the rebate from to
7ls per cent.
The provisions In regard to the taxation
on bankers and brokers, bills of ading
inheritanocs Futures proprietary mecil-
cinal articles. etc, were lcft as previously
liked. The house provision for, a tx ON
mineral waters was strickenl ont entirely
The committee decided to increase the
tax on manufactured tobacco In the wal
revenue bill from ~ cents, tho house rate
10 l6 cents per pound. and to EXEMPT tn,
stock on hand from the operations of tn,
act. The committee also decided to recon
mend reduction OF the tax on cigars from
"a to $3.50 per 1000, and on cigarettes from
81 to SI.50.
There was some general discussion II
committee of the amount OF revenue to
bacco would produce. The democratic mem
hers placed the amount at $3.50 0o0, 900 from
the revenue portion, The coinase of tn
seigniorage would increase the G-uoun
81, coo and tho greenbacks would max,
the total sai2 100000 or $40 600, 900 In excess
o. Secretary Cages estimates. The bill
VIII hardly be recognizable by its author
wren reported. as II has been no general II,
amended In both phraseology and rates a
10 make 1t practically new bl,l Tber,
are four paragraphs that havn not re
ceWsd attent'dn. The changes yc, 10 y,
maze are only OF minor inpartapce mn
VIII neaI with the administrative feature,
II anu IN some cases with the grammatIcu
construction Of sentences.
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