The Taney County republican. (Forsyth, Mo.) 1895-1992, 1909-06-24
Washington Letter.

AOW SCiilLuCully CApCCtCu tiAdt dliOtilSl
week will see the tariff bill in confer
ence, and there are whispers to the ef-
feet tina. the conferees who will settle
the matter understand each other and
that they will get together very quick
ly on many schedules. It is not ex-
pected, however, that the bill will
reach the President before July 18th.
1t can be very confidently predicted
that the sc-called Bailey Cummins in
come tax amendment will not be in
corporated in the Senate bill, although
there may De an amendment or a res
olution introduced looking to an
amendment to the Constitution, which
shall in the future admit of an income
tax. There is no doubt that the senti-
ment in favor of an income tax has in
creased very substantially during the
last few years, although it does not
seem probable that such a tax will be
found on our statutes for some time.
It now looks as if a tax on the net
receipts or dividends of corporations
may be found in the new tariff bill,
which will be sort of compromise be-
tween an income tax and national
tax on Inheritance. Such tax on the
dividends of corporations should pro-
duce revenue upward of $5O,OOO,-
O0G, which, with the duty on imports
and internal revenue, should be suf-
icient to meet the expenses of the
Government.
Should the question Of al income
tax through a resolution, looking to
an amendment OF the Constitution be
submitted to the States, it is doubtful
If two-thirds would favor it. But it
seems the best way to get sentiment
Of the whole people of the country.
It is believed that the tariff law as
it is being shaped will produce sufi-
cient revenue, particularly rs the De-
partment Chiefs are continuing to cut
down the estimates. It seems likely
now that the next appropriation bills
may show reduction of as much as
500, 100000, and should this prove
true a very substantial surplus should
be gained and continued for several
years to come.
With TIE tariff bill out Of the way
anticipation will be keen concerning
the Legislation of next winter. It is
understood thattile President is giving
very seiious attention to the matter Of
so-called corporation legislation, and
his recommendation at the opening OF
the next session OF Congress will be
looked forward to with much interest,
but President Taft will not be governed
by sentiment, he will be governed by
the Constit ltion, and whatever legis-
lation he nay call for will not be such
as to iniure any railroad or industrial
corporation pursuing honest methods.
The condition of the stock markets
for several weeks and the plans Of the
different railroads Of the country shcw
that they have DO fear of President
Taft recommending any Legislation
which will work IN injury and hard
shin to tfe;r stockholders.
It is possible that in the near future
some method of government control CT
supervision will be worked out, par
ticularly affecting over-capitalization
and the uniform conduct of business.
Undoubtedly many evils have grown
out of our recent consolidation meth
DDS, and these evils if possible will
be eradicated or at least modified to a
considerable extent, but the subject
is vast one and the people of the
country feel confident that both the
President and Congress will act very
slowly in bringing about any radical
changes.
Already there are rumors of coming
changes in the Cabinet, but thsse can
not be verified, and it is not thought
that any change will occur at least un-
til after the opening of the next ses-
sion of Congress. It is known, how
ever that there are many conflicting