New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-05-06
OPPOSED TO A BOND ISSUE.
THAT PROVISION OF THE REVENUE BILL
LIKELY TO BE STRICKEN OUT.

SENATORS JONES. OF NEVADA AND worcorT
ACTING WITH THE DEMOCRATIC MEMBERS
OF THE FINANCE COMMITTEE
Washington. May 5.-The Senate Committee
on Finance as body was not in session to-day.
having adjourned over until tomorrow in order
to permit the Democratic members to prepare a
substitute for the bond provision of the bill.
There is no doubt that there will be a majority
in committee against the bond feature. as Sena-
tor Jones. Of Nevada has taken a position
against it, and Senator Wolcott has indicated
that he will oppose it If an acceptable substitute
be secured
The Republican members Of the committee.
with the exception Of Senator Wolcott. were in
conference over the situation for several hours
There is little doubt from Senator Wolcotts ex
pressons in the committee yesterday. and the
fact that he did not meet with the Republican
members to-day. that he will vote to eliminate
the bond provision, but 1t is understood that he
is not quite clear as the support Of sub
stitute The Republican members disturbed
over the discovery Of his position. and are con-
sidering how to best repair the breach occa-
stoned by his probable detection. They were
not greatly surprised at Mr. Joness position.
although they had hoped to he able 10 secure
his support of the measure practically as 1t
passed the House.
The proposition which Senators Wolcott
and Jones voted with the Democrats yesterday
was a general declaration. TO the effect that the
bill should provide more than S100OOOO00 in
revenue On this the two Western Senator'S
aligned themselves with the Democrats and in
opposition to the Republicans The declaration
was construed BY the Republican members as in
httt &c
serted that neither Of the Senators made posi-
tive declaration against bonds.
The Democratic members of the committee
have been busily employed to-day in the prepa-
ration of amendments they will suggest to the
bill and the Republicans in preparing to meet
them with propositions Of their in sup
port Of the bill as 1t came from the House.
The Democratic members held a conference
late this afternoon and agreed on an amend
ncnt imposing a tax Of per cent on the reve-
nues Of certain corporations including railroad
express. sleeping car, telegraph and telephone
companies This probably is the only addition
they will suggest to the revenue portion Of the
bnI. but it is probable that they will also urge
the coinage Of the silver seignorage In the
Treasury and the issue OF at least $3.50 5000
I'm graeabacks. These two latter propositions
have not been agreed upon. but they nave peeh
discussed sufficiently TO warrant the predlcuon
that they will be incorporated in the Demo
cratic substitute for the bond feature Of the bill
The seigniorage amounts TO about Si2oooooo
and tho intention Is 10 authorize the issue OF
certificates for it, so as 10 secure money I'M
medlatey and not wait for the coinage OF the
silver These certificates. with the greenbacks
would give Sl92 100000 OF immediate cash. and
the Democrats think this would be sufficient Tor
the Immediate wants OF the Government They
believe that the tax they propose on corpora
tons would increase the regular revenues to the
extent OF about $50 600 OOO annually.
The Republican members OF the committee TO-
day considered the advisabilty OF tax on the
transfers OF stocks and bonds. and II is probable
that they will propose such an amendment. as
Il is believed that II incorporated In the bill II
would 90 far toward reconcng Senator Wocott
to the measure The full committee will meet
again tomorrow