The Richmond palladium. (Richmond, Ind.) 1906-1907, 1906-12-09
VARIED EMOTIONS
OVER INCOME TAX
If Measure Passes Congress-
men Will Get but $4,000
Each Year for Work.
MONEY KINGS HARD HIT.
GREAT GATHERING FIELD AT
WASHINGTON DURING PAST
WEEK TO CONSIDER WATER.
WAYS IMPROVEMENTS.

Washington, Dec. S.-with mixed
emotions Congress on its opening day
listened to the reading of the income
tax bill introduced by Representative
Sheppard of Texas The weather.
the member the more mixed the feel
ing, and those whose salary is their
only income looked as though some
one had kicked them in the pits of
their financial stomachs. For, be it
known, if the Sheppard bill passes,
these purse-poor Solons will be di-
recting the destiny of the nation at
an annual stipend of $4,000 per, in
stead of $4,000. The income tax on
their yearly salary will slice just ex-
actly 500 off each and every pay
check. According to the measure,
incomes under $4,000 are to remain
unscathed of the tax-gatherer, but
all above that sum will be assessed
on a rising percentage scale. until
such money kings as Carnegie and
Rockefeller are paying upwards of
81 900, b0 for the privilege of clipping
their coupons. The bill. too, puts a
premium on United States bonds, for
they are the only class of revenue
producing property that is exempt.
1t is difficult matter TO prophecy
the fate of the measure.
If the report of the chief of the
Bureau of Loans and Currency is not
twisted, there is probability that
large number of United States citi-
zens will be hit by the Sheppard bill,
should it become law. According to
that officials report the amount of
money in circulation on December 1
was s32,S69, 074,255 which is a
gain of 100000 in the last month
and of about $7,000,00O in the last
year. This hoists the per capita cir
culation up to 1886, a point never
before reached in the history of the
United States. No wonder Uncle
Sam wishes to garner a little of the
increased shekels for himself through
the medium of an income bill.
Never before in America has such
a gathering been held to consider the
Improvement of the waterways of the
country as was held here this past
week. In numbers and enthusiasm it
is remarkable assemblage, and
practically every state in the Union
is represented. A number of COVER
nors have headed delegations, among
these being Governor Chamberlain,
of Oregon, and Governor Blanchard
of Louisiana, and prominent men in
all walks of life have put aside pri-
vate and public affairs to lend their
voice and influence toward launching
national campaign for better water
ways as a means of insuring increas-
ed transportation for growing COM
merce, and a consequent maintenan-
ce of prosperity. The convention
has notably large number of dele
gates from communities not situated
on navigable waterways, but who re-
aliZe that the movement is not one
in which benefits accrue only to
to those cities and towns and states
SO located. The realization that de-
veloped waterways will prove
mighty factor in lowering all freight
rates, has opened the eyes of every
section to the Importance of the cru
SADIE. 1t is regarded now as practi-
cally certain that Congress will pass
a rivers and harbors appropriation
bill of at least $50,0O0,0 900, and there
even is reasonable expectation that
the bill VIII carry more than this
sum.