The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-05-25
MAR REVENUE BILL.
|root;nues Discussion Of the
orooration Tax Clause.
AZ ISSUE IS PRECIPlTATED
,,rdsay Is in Favor of Is
uouds Instead of the
Legal Tender Notes.

Lrr
..,;o,s was urder discussion in
! throughout the days session.
Lllv the proposed tax on bank de-
As averted TO.
rincipal speech was delivered by
!, REP. Comm and also Mr..
Dem, Ky), both of whom
h attacked the corporation tax.
acton May "a THE senate chap
onening the session today gaze
sor the health and well baing of
Iietoria on this her birthday.
the transaction of some routine
the war revenue measure was
are the senate. BY agreement
his relating 10 corporation taxes
(der consideration, the pending
being the amendment OF Mr.. Nc
ha). exempting from the corpora
Of 'limited liability, commercial
hps or corporations and companies
rations OF LIABILITY conducting
or farming business or preparing
III products Oh tne sort.
leu thought if the amendment IN
he big sugar corporations IL ought
bdopted.
Jaulei tva.) expressed his opinion
tmendment, saying that he thought
hing and planting interests were
itly protected in the pending bill.
hye iMaine) declared that the pro-
ax Oh corporations was a good
10 encourage enlistment in tie
States army. Il fully and firmly
said he, that if this feature oil
be enacted into law 100000 men
out OF work.
frye maintained that the burden
lax would fall on the men and wo-
10 work in the mills, for it was
evident that in the event the
levied the mills must either close
or reduce wages. In either event
fry would result in industrial cen
Ir. Frye objected, too, to the tax
deposits because of the burden
on deposits in saving banks. He
believe that senators from the
bad any proper conception of the
bank rs it was known in New
1t was really d philanthropic in
clusion he lnstanced the direct re-
Dat fall on the levying of corpora
LIS.
PLAT Conn.,. member of the
committee, declared that corpora
was unnecessary, and believed it
He thought the bill would raise
$ient amount without the corpora
i. He said tha bond feature pro-
" the minority Of the finance COM
was eminently fair. II was perfect
Der that the burdens of the war
be distributed over a period of
That burden was thus easier. In
lon, Mr. Plat said that the bill
in enough revenue without a cor
tax; that tax was unjust and I'M
4 Its burdens on business.
Lindsay (Ky) in the course of an
\ legal argument on the corporation
Eure Of the bili said 1t was impossi-
the government to levy taxes OF
nd except on consumption and ON
n. Mr. Lindsay held that if the
tion tax provisions of the pending
puld become a law it would seri-
cripple the State of Kentucky as
other States of the country. 1t
be an unnecessary interference with
l1ation by the Federal government.
le course of the discussion of the
Of issuing bonds and the legal
notes Mr. Lindsay noted the tact
pen the proposition TO issue green
luring the civil war was made TO
5 BY Secretary Chase every demo-
the house voted against it as well
every democrat in the senate. he
ed that it was strange there should
Pen SO great change in the opin-
the democrats in congress in view
fact that the democrats are now
the issue of legal tender notes. In
ment in favor of the issue of bonds,
lded for by the amendment in the
report, Mr.. Lindsay said the pay
ponds could not be demanded until
enty years. their payment being OPP
I'm the government after ten years.
mat time the people of the United
mlght, If it so desired, go to a
asls. He maintained that the paper
Issued during the civil war was
Fiest Kind OF money. The largest
~ bore interest at 6 or Z. even 30
while the bonds proposed in the
OIL called for only per cent. II
should become a law as it stands
nsay urged that the republican AZ
auoh would redeem the greenback5
unaer 1t in gold and would, if nee
sell boHis under the act of 1875 in
get gold, He further maintained
he proposed issue OF legal tender
~ democrats in favor of such issue
imily placing more power in the
SPECTATORS to raid the gold re-
NE government.
DILL said MIR. Lindsay, "contem-
'nat We will use all the money Oh
asufy except the hundred million
heid MS a redemption fund and
VIII Issue greenhacks so that at
y me year all the money in the
WIN be hundred million in gold.
presented the supposiiious case
aaieate presenting the greenbacks
aeasury to the full amount of the
.rNe and drawing it out and then
aso'ner syndicate presenting an
INJURED millions of greenbacks the
Where" he inquired. 'is the
eoine from to meet the second ?"
sueSuon precipitated a colloquv
whole financial question, which
In,,pated in by MIR. Lindsay Mr.,
40 Mr. Teller (Colo.) and Mr..
'Nev;l Mr. Lindsay maintained
!, vhnlcates would raid the gold
me government and that II The
notes were Issued they would
xo y, redeemed in gold, end If re-
ss huiu again be redeemed in gold,
I c.l nave an opportunity. then
49, sockreli to test the patriotism of
OF greenhacks and to sea
,asy VIII raid the treasury 10 OBJ
sola. ia like to know whether
a,s sueh adulterated patriots "
snerenee between me ami the
.om Missouri" said Mr.. Lind
n t"ut ne bF1iaynr tba ex.l1 ra,l;., n