Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-09-02

i
in my state. and we will fight this guess
ton out and see who Is right"
Senator Roots Plea.
Senator Root of New York today plead.
ed in the Senate that exemption under
the income tax provisions of the tariff
bill be decreased to $1,000 He declared
that IL an exemption of 5000 or $4,000
was retaaned the great state of New
York and otter industrial centers would
be Disseminated against for the benefit
OF the agricultural states. He pointed
out that New. York and Others which are
centers of great wealth would pay
almost the entire tax as compared with
Kansas. Mississippi and other agricul-
tural states
When YOU place the exemption at
5000 or AW0. YOU levy a tax. not upon
your own constituents but upon mine
said Senator Root. How long do Won
think comparatively small part of the
country will he willing To bear the burden
of this tax practically alone? This Union
cannot exist unless the representatives OF
all states have that self-control which
will cause them to do justice to all states
alike, no matter what sectional prejudice
there may be"
Issues Left to Caucus.
After three hours OF sharp debate last
night the democrats of the Senate finance
committee decided TO submit the most
important amendments to the tariff bill
which have not been acted upon to the
party caucus tonight. The questions of
higher rates than originally proposed
upon big incomes and of tax upon
stock exchange deals In futures" will be
left to the entire party In the Senate.
The committee refused to make a
further compromise upon the income tax
features OF the bill and will face tn.
insurgents" of the party determined to
fight for rate of per cent on incomes
Of 100000 and over. per cent on $50. :
QUO and over. per cent on SJOOOO and
over and per cent on incomes over
sl.UU'oU. The committee members real
ize tnat the insurgents are strong enough
to put up stiff argument, but hope that
winning card.
1t was decided to submit proposed
amendments regulating railroad rates
on articles affected by the bin To the
Interstate commerce commission Tn.
committee will fight to keep the hill
purely tariff measure, and will go to-
all possible lengths to defeat any
amendments aimed at trust regulations
or subjects Foreign to revenue raising
legislation
Chairman Simmons was Informed
that Senator Newlands Of Nevada, whs
mas been absent for several weeks. will
return to Washington during the nres
ent week. Reports that Mr. Newiands
was threatening to bolt the caucus and
line up with the republicans when the
Dill came up for final passage were de-
MED.
Attack on Stock Exchange.
Senator Cummins OF Iowa, who Of
fered as a substitute for the Clarke
cotton futures amendment to the tariff
bill. an amendment which would place
a tax Of 10 per cent on all sales where
the seller did not actually own the
property sold on stock and produce ex-
changes. made vigorous attack upon
the New York Stock Exchange yester-
day afternoon. In this he was sup
ported by other republican senators.
and finally the whole matter was re.
ferred back to the finance committee
for further consideration.
Most OF the sales on the New York
Stock Exchange are fictitious" he said
thousands OF men have been wrecked
in fortune, and their moral fiber broken
down by the methods employed I'll
mas been the chief factor in imposing
on the people a great volume of water
ed stock upon which they must paw
dividends for years to come
"One-half Of the railroad stock OF the|
country represents water-at least IL did|
at the time 1t was issued. More than one
half the stock OF all the larger Industrial
corporations has no foundation in value
1t represents the immoral disposition and|
the marvellous audacity OF the men instru-I
mental in putting II out. These stocks.
with the burden they impose on the pub
lie could never have been foisted on the
PUBLIC but for this method OF short sales.
Senator Cummins declared the stock ex-
change should be restricted to actua /
sales. las it is now. it is not a place for|
the transfer OF actual commodities he|
said.
Progress on the tariff bill yesterday was
limited to the consideration Of many items
in the chemical. earthenware and other
schedules OF the bill which had been
passed over in the first reading OF the
measure.
LaFollette Secures Amendment.
items in the chemical schedule carried ex-
cessive duties. On one of these, dextrine
made from potato starch. the senator's
suggestion was accepted and an amend
ment was incorporated into the bill reduc-
ing the duty from one and a half cent a
pound to one and one-fourth cent
The one-cent-a-pound duty on chic
rate of potash, Senator La Toilette
said. should be reduced to one fourth
cent. He added that an agreement hal
been made with the powder trust noi
to sell this article to the United States
government.
EFF that is SO. think il should so
to the free list declared Senator
O'Gorman.
The committee took the paragraph
under consideration.
A suggestion by the Wisconsin sen
ator that the duty on peanut oil
should be reduced from s cents a gal
lon to 1 cent. as the former rate was
prohibitive. was not acted upon.
The Senate motion of Senator
Thomas of the finance committee voted
down the amendment proposed TO the
window glass paragraph increasing
duties on some of the smaller sizes or
glass. and agreed to the House rates.
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