The Ogden standard. [volume] (Ogden City, Utah) 1902-1910, 1909-06-30

Washington. June S0.-Whetner ow.
ing 10 the absence Of Senator Aldrich,
the lack OF interest, or the heat, the
attendance was unusually small In the
senate today. When tho president g
gavel fell at 10 o'clock, there were
not more than eight OF ten senators
present, and the principle of no ouor.
um was made. Twenty-Five minutes
later forty-seyen senators had arriy-
ed. but before business could be put
we'll under way, large number of
those who had come In during the cali
disappeared. and by half-past ten. an
other Toll-call had been ordered.
The proceedings were begun with
the presentation by Senator Kean of
an emphatic protest from the building
and loan association league, OF New
Jersey. against the inclusion OF build
ing and loan associations In the cor
poraton tax Evidently Mr.. Kean was
not averse TO presenting It,
Before proceeding with his speech.
Mr., Cummins remarked on the alb
sence of Mr.. Aldrich, saying he had
seen an announcement in the morning
papers that the chairman of the fin
ance committee was going on a sea
voyage.
After the acknowledgment. which
he made to the senate yesterday, with
respect to his voting forward on the
amendment We are now considering"
said Senator Cummins, evidently re-
ferrlng TO Mr.. Aldrich's statement
that he favored the corporation tax
to defeat the income tax amendment,
he needs the restoration and the re-
cuperation OF salt air. I would want
10 take trip lasting about thous-
and years II should be compelled to
make a confession of that sort, with
respect TO a measure brought forward
by myself"
Mr. Clapp interrupted with an OBJ
Seryation. Referring to the corpora
tion tax amendment, he said:
Il notice by the newspapers that
the large corporations are not uncom.
Portable. They are reported as being
we'll satisfied with this provision"
Mt CummiDs replied there was
nothing In the corporation tax amend.
ment 10 make corporations uncom-
Portable. He then proceeded TO dis
cuss the receipts and expenses Of the
government to sustain his contention
that the pending bill did not supply
enough money for usual expenses.
Declaring that s479. 900. 900 must be
raised from customs duties and an In.
heritance. corporation or income tax
10 meet government expenditures and
10 take up the sinking fund. Mr.. Cum.
MINIS presented letter from Secre-
tary MacVeagh of the treasury depart.
ment. stating that a deficit appeared
In the sinking fund at the close of the
fiscal year 1908. OF S549,363.GI7, al
though, up to that period the total
debt had been reduced S32,S12OOO I'm
excess Of the sinking fund require.
ment.
The deficit az the close of 1905"
wroie Mr.. MacVeagh, will be in.
creased, however. in the current wear
OF 1909, by approximately $44,000.OOO.
which deficit Is more apparent than
real"
Mr.. CummiDs claimed that secreta.
ries Of the treasury had failed 10 place
aside In the sinking fund, the amounts
contemplated by law
There is" he said, "a mystery In
the bookkeeping which is not easy TO
understand"
Estimating at sS4O.O0O,OOo the sum
of money required by the government
for the fiscal year 1911. Mr.. CummIns
said that not more than $500. 600 900
would be raised from internal revenue
and not more than 0,000. 900 would
be obtained from customs reyenues
under the Payne bill, leaving about
s240,000,00O to be supplied from some
other source.
My conclusion is" he said, "the
dehc- will be Sl75, 100000 at the close
OF 1911"
He declared that no one could in
vestigate the subject without being
convinced that there must be large
deficits every year hereafter. and he
asserted that every penny which
would result from the enactment of
his and Mr.. Bailey's income tax
amendment would be necessary to
~ @HYn HT\ 0Ny