The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-05-24

ure upder discussion. The entire time was
occupied by Mr.. Chiffon (Tex). Mr.. Lodge
mass and Mr.. Turley (Tenn). Wbne
MI Lodge confined himself 10 the discus
sion OF the proposed tax on cornor,t;o,
panh deposits, strongly arguing that
such taNes be not imposed. Mr.. Chiffon and
WI luriey covered pretty fully the general
features. of the bill. Their speeches dealt
Complementary with the theories Of tax-
atioi'' ana therefore in the very nature of
.hihgs' legal and technical dissertations
upon the subject were had. Nh act;o, va.
had on the bill.
Washington, May oS.-At the on9nins NJ
today's session of the senate n cor
mnnlcation was received from Secretary
A'sef' 'osether with draft of bill provid
ing lor a gradual increase in the number OF
OFFICERS OF the corps of engineers. The hiil
provides the corps of engineers OF the army
small consist hereafter of one chief of on
glheerS with rank of brigad!er general
seven colonies, fourteen lieutenant colonsIs
twenty eight majors. thirty-fiye can.ains
thlrty FIRST lleutenants, twelve second lieu
tenants and the battalion of engineers All
promotions shall be made by seniority.
The communication and the bill were re-
ferred to the military affairs committee.
After the transaction of some routine
business Mr.. Allison called up the war reve-
nue. measure. He announced that when
the senate adjourned on Friday the pending
question was on the amendment offered by
Mr.. McEnery (La.) relieving the proposed
corporation tax from certain classes of cor
porations which were such in name only
He stated that the rest OF the bill had been
completed and that an agre ment had been
reached for convenience to first consider
the amendment providing for excise taxes
on persons, firms companies and corpora
lions. That amendment, Mr.. Allison
thought, ought to be disposed of before the
remaining parts OF the bill were taken UP.
Mr.. Chiffon (Texas) delivered an EXTEND
ed and carefully written speech on the diff
ferent features OF the war revenue bill He
expressed the opinion that the vast amount
| of money proposed 10 be raised by the pend
ing bill would not - n geded for the naval
and military operations before congress
| should convene next December. He did not
DeIleNe, IN view OF the laCt tndt inc War
might come to an end within a few weeks
and In view OF the certainty that the situa-
tion would be cleared UP materially by De-
cember /. that 1t was necessary to raise
| such large amount. He was willing, how
ever, to Join the others in furnishing am-
pie resources for the conduct of the war.
He thought it would be a mistake to APP
propriate an amount greater than $4,000
900 a month for war purposeK MIR. Chiffon
hat 10
bill had very near relationship. He de-
ciared that the receipts in the Dingley law
were not sufficient 10 meet the govern
mont's demands,
Then you Sre making a speech purely
for political effect?' suggested Mr.,
Spooner.
II can not foretel what +ts effect may
be-" replied Mr.. Chiffon. He then entered
upon a review of that part of Mr.. Allison's
opening statement which dealt with the
amounts likely TO be raised by the measure
as reported TO the senate. He believed that
Mr. Allisons estimates w-re generally too
high. He presented estimates of his own
on the various schedules of the bill, the
total of tha funds to be raised $l7,6oO,536.
He thought this total sum was not 100
large. for lie believed every generation
ought to pay its own way. In the course o.
Mr. Chltons discussion of the proposes
corporation tax Mr.. Spooner Inquired II MI
Chiffon proposed to tax the business OF the
corporation itself.
THE tax we propose" said Mr.. Chiffon
sis an occupation tax on the business OF
the corporation. If, however the senator
desires to call it franchise tax I'll defend
it as such"
do not lax the business but tax the cor
poration simply because II is corporation
OF course admit the right OF congress 10
Osap ina IN
Mr. Srooner also said II was unfortunate
that in response to the governments re-
quest for sums of money TO conduct the
war. provisions were being made to oh
struct legislation.
In the course of his remarks upon the
inheritance tax Mr.. Chiffon expressed INC
opinion that next 10 a tax or incomes anu
upon corporations the succession tax con
tanned more elements Of justice than any
other feature of the bill
MIR. Chiffon defended the proposition oil
the majority of the finance committee to
issue certificates against silver seisnlor-
age
Aldrich. ito about S42.0o00O0, believe
You say?" Gun
ton. ~ a.. a.,
present ratio of silver be accepted tnv
| profit upon this So-calltu sslEh.'iahV "'''
be far greater than 42,000,0Oo II you are
going to issue fiat money, why do yo'i not
do II without the pretsnse OF Issuing money
against a supposed seigniorass
Taking a silver certificate from ms DOCK
ct MIR. Aldrich read from its face the state
ment that there was on deposit IN me
treasury - silver dollars, payable 70 the
bearer on demand. III certificates are Is,
sued against the so-called seigniorsse.
continued he, there will not he one single
dollar deposited in the treasury. There has
been none deposited there, and there can
not bs in the nature of things Why should
we not issue fiat money and call II such
Mr.. Aldrich said In accordance with Inc
expressed terms of law the government
stood pledged TO hold this so-called seig-
niorage in the treasury as SECURITY for inc
outstanding certificates. and 1t could mol
be properly touched until those certificates
had been taken care or
THAT is all gratuity." replied Mr.
Chiffon 1.-The senator must know there Is
nothing of the sort he suggests in the law
we know precisely how much silver 1t viii
require to coin specified sum IN doi'