Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1914-10-29
ESTIMATED ANNUAL INCREASE
or stos.ooo,ooo la ORIGINAL
MEAsuRE pRoPs 70 eco.
1000 ON AGREEMENT.
INCREASE IN LIQUOR TAX
REJECTED AT LAST MOMENT.
Cotton Issue Is Lest and Relief Meas.
nrss Are Held q De InsOund-
Theatcr Taxes Changed, Beer
Kept II si.so Per sarrsi
Gasoline Exemrs.

% ~ "
Washington Oct rs greement
on the war revenue bin was reported
Ply senate and house eonFerees III d
sacrifice cf from Sis ,00p, 900 to $50.
100000 IN revenue proposed to be de.
rived AT the last moment the con.
fsrees eliminated the proposed
amendments to the liquor taxes. re-
iecting the senate amendments To hi.
crease tho tax On beer from $I.Eo To
si.9S a barrel and to impose tax Of
& cents gallon on rectiEied spirits.
In sacrificing these amendments the
eonfarees made no substitution, Rep
resentatiye underwoods proposal to
restore the tax OF cents gallon
on gasoline. as contained Iii tile housS
hill having been rejected BY the sem
ate conferaes, This action fixod the
estimated annual revenue 1T approx.
tnately ss0.o00.O00 instead Of sio5..
100000 az contemplated IN the serata
bin.
throughout the conferees fought
over the liquor tax and gasoline
amendment. the compromise proposal
having been carried to the president
by Senator simmons and Representa-.
tive Underwood, Final agreement,
however, paved the way for early adj.
jonrnment, and leaders In both houses
planned to expedite adoption of the
report so that the session might be
ended at once.
Cotton Legislation Loet.
Cotton legislation met defeat Ia the
house, while the war revenue confer.
ence was in progress. the measure t0
provide for q quarter OF d billion adj
ditional currency through the lssu-
ance Of United States notes or Panama
canal bonds being rejected BY d vote
OF i23 to rs. Lack Of quorum pre-
vented action on the blu to permit
national banks to Issue circulating
notes based on commercial paper up
to 100 per cent Of uninpaired capital
and surplus and also ON the measure
10 license cotton warehouses. fndi.
cations were that both these measures
would be ''pocketed" In the rush for
adjournment today.
$3.50 Tax on Beer.
The war revenue bin agreement fix.
cd the tax on beer at sI.50 barrel,
with the senate amendment for a s
per cent rebate for prompt payment
eliminated.
The senate amendment reducing the
proposed tax on bank capital and sur.
plus from W 10 81 d thousand was re.
tanned. The senate proposal TO tax
domestic sweet and dry wines 3
cents gallon with tax Of SIS cents
gallon on brandies used In the forti.
fication OF wines also was retained.
The senate amendment increasing the
tax on tobacco manufacturers and
dealers was agreed to with few exeep.
tons and the stamp taxes were not
disturbed Stock brokers win be
taxed $50 s year Instead Of $50.
The graduated tax on theaters also
was charged slightly, the flnaI rates
being as fellows; Theaters with a
seating caracity OF ESQ or less win
pay s25 d year; 500 capacity, $50;
500 capacity. ss5; more than 500 cap
acity. 800 q year
Called Cotton Plan unsound.
Chairman Glass OF TIE banking and
currency committee, Republican Lead.
er Mann, and others In opposition on
both sides, declared the cotton plan
was utterly unsonnd." and would
contract the credit on the country
rather than expand II.
The cotton belt members, led by
Representative Henry and Hardwick.
insisted that the plan followed past
treasury policies and that the treas
uTy often made large deposits Of gov
eminent funds to avert financial
stress In the various section OF the
country.