New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-04-03
MAY REDUCE WAR TAXES.
SUCH ACTION FORESHADOWED IN "A
RESOLUTION ADOPTED BY
THE HOUSE.
[BY TELEGRAPH TO THE TRIBUNE

IBY TELEGRAPH TO THE THiBUNE.]
Washington April 2.-The first step toward
checking the surplus which has been piling up
in the Treasury for the last six or eight months
taken to-day in the House of Representa-
tives, when Mr.. Payne, the chairman or the
Ways and Means Committee offered and the
House adopted resolution calling on Secretary
Gage for estimate of the revenue producing
qualities of the special tax act OF 1S9S
The resolution directs the Secretary or the
Treasury to submit to the House any informa-
ton he may have to indicate the possibility of
a considerable surplus of revenues for the fiscal
years ending June So 1900 and June 80, 1901.
He Is also to show what amounts were realized
through the internal revenue taxes imposed by
the act of June 49, 1898. 1t being the general
sentiment in Congress that possibly portion
of this taxation may now be lifted without Gre
ating inroads on the Governments necessary In
come.
AS the surplus for March. reported to-day
stands at $4,000 900, and the surplus for the
year ending next July will probably exceed
$50 900 900 the leaders in both branches Of Con-
gress deem it wise policy to be prepared to
check an inflow Of money into the Treasury
which may operate to disturb the general con-
ditions of business Until Secretary Cages re-
port is received no plans to pare down the in
dictated surplus of 1900 and 1901 will be serious
ly formulated.
STATEMENT BY CHAIRMAN PAYNE.
After the adoption of the resolution by the
! House. Mr.. Payne authorized the following
statement:
The object of the resolution is to get informa-
ton from the Secretary of the Treasury that
will enable the Ways and Means Committee 10
determine whether 1t is safe TO attempt reduc,
ton of the revenue. and, in case that is decided
affirmatively, then along what lines this reduc-
! ton should be made. II is true there is sur
plus of S54 100000 for the nine months ending
Saturday last. and S16,5OO'oO for the month OF
March. Whether this surplus is to be increased
or not for the balance of the fiscal year is one
of the questions which we desire information
Should all of the $S5O.O0O,OO0 of bonds which
can he refunded under the refunding act be
presented some SS6.OOO,OOO would be absorbed
in this operation. 1t will require S2OoocUo 10
refund the bonds already deposited with the
Secretary of the Treasury under the act recently
passed What we desire to know Is the effect
of this measure upon the surplus. and the proba-
BILE expenses of the next fiscal year In order to
determine safely upon reduction of the reve-
nue..
Mr. Payne was asked If he considered it prob
able that legislation for this reduction would be
presented at this session of Congress. He re-
piled:
I cannot say as to that until get the In
formation If any action is taken sufficient re-
duction be made under the War Revenue
act, which was an emergency act; passed in
1893. 1 am opposed to interfering In any way
with the Dingley Tariff law of 1897.
Payne on the Ways and Means Committee said
that in no event would there be any step toward
changing the tariff law, as the reduction of
revenue, If made would be through revision
of some Of the features of the War Revenue act.
He expressed the opinion that the stamp taxes,
which came most generally under the eye of the
public were likely to receive early attention.
The text of the Payne resolution is follows:
Resolved, That the Secretary of the Treasury
! II
of Representatives whether in his opinion. based
upon such knowledge as he has, the present laws
Tor the raising of revenue creating and will
continue to create surplus in the Treasury
and above the wants of the Government and il
so, to what extent the end of the current fiscal
year, and like report to the fiscal year end
ing June 30. 1901.
That he also report to the House his estimates
and probable receipts of the Treasury from all
sources of revenue for these years, to wit,
toms, internal and miscellaneous sources.
Resolved That he also report the House the
amount of internal revenue taxes received under
the War Revenue act of June Is, 1898, upon arti-
ces not heretofore taxed; that said statement be
itemized far possible for the ending
June 80, 1899. and for the nine months ending
March 81, 1900