The herald., 1898-05-29

Spain's New Ministe
and it could not be said that it might not
result in complications of the most serious
nature. 1t would require but spark to
set the whole of Europe afiame, and that
spark might be struck from the clashing
swords of the United States and Spain at
any moment. He did not believe any coun-
try in Europe would intervene between the
contending nations except on grounds of
pure humanity, for not one cared to assume
the risk of a war confiagration that might
sweep the civilized world.
Referring to the suggested enmity of
France to the United States, Mr.. Wolcott
declared that the people of the country did
not reliably announce the position of
France. He was positively familiar with
the situation in France, and was satisfied
that except in the newspapers and
among few of their followers, French sem
timent toward the United States was most
friendly. He paid high tribute to the
premier of France. He said he was one
of the staunchest friends America had in
Europe, and was in perfect consonance
with our ideas and policies No complica-
tons, he was certain, would arise from
that quarter. From whatever source COM
plications might spring, however, the
United States must be in position to meet
them with composure, dignity and honor
The attitude of Great Britain during the
present war had been, he said, of meal
culable benefit to this country.
Mr.. Wolcott then entered upon discus
sion of the pending bill, strongly advocat-
ing the issue of bonds, as proposed by the
Republican minority of the finance COM
mittee and the proposed stamp tax.
Discussing the tax upon corporations,
as proposed by the majority of the finance
committee, he said taxes should be levied
with view to the ability to pay. Pro
ceeding, he said all railroad mileage was
now paying 3.4S per Gent upon gross re-
ceipts; 16.4 per cent upon net receipts, or
44.5 per cent upon net receipts, affixed
charges had been paid. He said 1915 per
cent of all the railroads in the country were
now in the hands Of receivers. He criti-
cised the tax upon bank investments as
likely to result in double, triple, and prob
ably quintuple taxation by reason OF the
law requiring banks to keep an account of
their deposits in repositories designated by
the government. He said he favored, in
this respect, the bill as reported by the Re-
publican members of the committee.
Addressing himself to the coinage of the
silver seigniorage, Mr.. Wolcott advocated
the plan as a general proposition, but Of
fered an amendment directing the coinage
to proceed at the rate of not less than$4 ,000.-
900 per month, and authorizing the secretary
of the treasury to issue silver certificates
as the silver is coined. He attacked the
proposition to issue $50 900 900 in green
backs, and said:
"Mr. President, I am shocked and sur
prised now at men who know are not of
that Populistic element that simply want
the coinage Of silver, tin or anything else
for the sake of having more money, men OF
the rock-ribbed Democratic party, party
that has been always a hard money party,
and continuously declared itself desirous
of only gold and silver as the money of the
constitution, voting now to put out s1sO, ,OO0.-
900 of greenbacks without dollar of gold
or silver to back 1t up
Concluding his speech, Mr.. Wocott sup
ported the minority bond provision provid-
ing for bond issue in the nature of pop
ular loan which could be taken by the peo-
pie generally. He contended such loan
would be readily taken by popular subscrip-
ton. In this connection he criticised Sec
retary Gage, who, he said, recently ex-
pressed before the committee on finance his
belief that the people would not absorb such
loan as was proposed.
His wish, I am inclined to believe" said
the senator twas father to the thought,
and I trust he is the only man in the coun-
try who cherishes the belief"
At the conclusion of Wolcott's speech
a proposition was made to vote upon the
amendment offered by German of Mary
land, limiting the excise tax upon railroad
steamboat electric light, telegraph, tele-
phone, express and other corporations to
those whose gross receipts exceed s25O, 900
annually and making the tax one-half of
l per cent.
Aldrich moved to lay upon the table the
amendment offered by the committee, for
which Germans amendment was intended
as a substitute.
The motion to table was made with the
understanding that Germans amendment
should be placed upon its adoption should
the motion to table prevail. This brought
on the most important vote yet taken in
the senate upon the revenue bill. The vote
resulted in ayes Al, and nays 27, as follows:
Yeas-Aldrich, Allison, Bacon, Caffery,
Carter, Cullom, Davis Deboe, Elkins,
Fairbanks. Foraker, Frye, Gallinger, Gear,
German, Hale, Hanna, Hansbrouch, Kyle,
Lindsay Mcbride, McEnery, Mcmillan,
Mason, Mitchell, Morrill,, Murphy, Nealson,
Penrose, Perkins, Platt of Connecticut,
Pritchard, Proctor, Quay, Sewell, Shoup,
Spooner, Warren, Wellington, Wetmore
and Wolcott-41.
Nays-Allen, Bate, Berry, Butler, Can
non, Chiffon. Clay, Cockrell, Daniel Faulk-
ner, Harris. Heitfeld, Jones of Arkansas.
Jones of Nevada, McLaurin, Mallory.
Mantle, Money, Morgan, Pascoe, Petit
grew, Rawlns, Stewart, Tillman. Turley.
Turpin and Whte-27
Upon the announcement of the vote Cor
man, under the arrangement that a vote
should be taken on his amendment, again
offered 1t, modified somewhat as to tx.