The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-05-13
WAR REVENUE BILL
As it Leaves the Hands of the
Senate Committee.
BOND CLAUSE CUT OUT
Minority Report Includes the
House Provision.

consideration of the war revenue bill
after a two weeks sitting. and Senate
Allison reported IL to the senate at
o'clock. The bill shows that all the pro
visions in the house bill for the issuanc
of bonds and certificates of indebtedness
were stricken out. Mr.. Allison In re
porting the measure, made minority re
port giving authority for the bond issue
GREENBACK ISSUE.
The amendment inserted at the In
stance of the Democrats for the issuance
of greenbacks is as follows:
THAT the secretary Of the treasury is
hereby authorized and directed, for the
purpose of defraying the expenditures
made necessary by reason Of the existing
war against Spain, 10 prepare and issue,
on the credit Of the United States Of
America, from time to time, as the same
may be needed, during the next fiscal
year, United States legal tender notes to
the amount of one hundred and fifty mil
ion dollars, which notes shall be of like
denominations and of the same legal ten
der quality, and shall be payable and
redeemabIe and reasonable in the same
manner as the three hundred and forty
six millions OF such notes now outstand-
Ing, as described and mentioned in the
act Of congress of May l, 1873, said notes
when first issued to be expended only
upon the war account aforesaid, and said
notes shall be exempt from taxation by
or under state or municipal authority"
SEIGNIORAGE.
The provision for the coinage of the
silver seigniorage is as follows:
That the secretary Of the treasury
shall Immediately cause to be coined. as
fast and as soon as possible into stand
ard silver dollars, which shall be Of like
weight and fineness and of like legal ten
der quality as those provided for under
existing law, the silver bullion now held
In the treasury. being the amount of the
gain or seignorage derived from the pur-
chases Of silver bullion by the treasury
under the act Of July IA, 1890, amounting
10 the sum Of forty-two millions of dol
lars; said moneys so coined to be fmme-
dlately available for payment of expendi-
lures on account of the present war viii,
Spain. The secretary of the treasury is
hereby further authorized to Immediately
issue in advance Of the coinage of said
5eigniorage afore said. silver certificates
OF similar design and denominations and
Of the same quantity, payable and re-
deemable - Hike manner as those author
lzeo by law in such sums as may, from
time to time, be needed for said war ex-
penditures, nor exceeding in all the total
amount OF said seigniorage so held tntbe
treasury"
CORPORATION TAX.
The provision inserted at the instance
Of the Democratic members of the COM
mittee and which has been known as the
corporation tax is much broader in its
scope than this description would lead
one to believe. The first paragraph of
this provision is as follows:
Every person, firm, company or cor
porahon owning or possessing, or having
the care or management of any railroad
street railroad, sleeping car. canal. shin
steamboat, barge, canal boat or other
vessel, or any stage coach or other vebi- |
Gle except hacks and carriages not run-
n'hg on continuous routes. engaged or |
employed in the business of transporting |
passengers or freight for hire. or in trans /
porting the mails of the United States
shall be subject to and pay a special an I
nual excise tax equivalent to one-four+b
Or one per centum of the gross receints
from passengers, mails, shippers or |
lFeighters Of any such railroad, street
railway sleeninc oar caro, .,
SNIP barge canal boat or other vehicle
'r such stage coach or other vehicle: pro- !
vided, that the assessment hereby made /
shaH not include any amount for the re-
celpts OF the transportation of nersons
Freight or mails from a port within the
nited States through a foreign territory
10 port within the United States. and
shall be assessed upon and collected
from persons. firms. COMPANIES or cor
porauons within the United States re-
celVing hire or pay for such transporta-
ton Of persons, freight or mails"
a tax Of one-fourth of one per cent Of
the gross receipts is imposed upon any
person firm. company or corpora tfon
on or doing an express business
also on any person, etc. owning or pos
Sessing or having care or management
OF any telegraphic or telephone line. also
an life, fire. machinery or accident insllr-
NJ e companies for the security and as
81. suce Of employers against loss. bv. en-
ployes. all Of which are to pay upon the
basis Of premiums and assessments col
lected and the duties accruinC: like tax
10 be paid by foreign companies doing
business in the United States; also per
sons, etc. furnishing gas or electric lisht.
slectric power, steam heat. steam power. |
refining sugar or refining petroleum.
Then follows the provision for a tax on
giving the exceptions. which
IS as follows:
That every corpors ton doing business
IN the United States. whether chartered
under the law OF the United States or
any other state or territory OF the Unit
&c States. or any foreign country. shall
pay a special annual excise tax. and said
tax shall be the equivalent of one-fourtb
of one per centum of the whole amount
~ the gross receipts OF such corporation
derived from such business: provided
that this section shan not apply to any
that is subjected to excise
tax under section Of this act. nor a
religious, educational, benevolent. elee-
or cemetery corporations. mu-
nAcipai or other public corporations: fra
ternal beneficiary societies or orders or
associations operating upon ne lodge
system and providing for the payment Of
lfe, sick. accident and Their BENEFITS 70
the members Of such societies, orders or
associations and dependents OF such
members. building and loan associat tons
which make loans only to their share