The Mobridge news. [volume] (Mobridge, Walworth Co., S.D.) 190?-1917, 1914-10-30
ESTIMATED ANNUAL INCREASE
OF S1O5,CoC,oO0 IN ORIGINAL
MEASURE DROPS TO 500.
OcO,O0O ON AGREEMENT.
INCREASE IN LIQUOR TAX
REJECTED AT LAST MOMENT
C6tton Issue - Lost and Relief Meas.
ares Are Held to Be Unsound-
1he7ter Taxes Changed, Beer
Eeijt al $3.50 Per Barrel
--Gasoline Exemrt

Washington, Oct 23.-Agreement
| on the war revenue bill was reported
| by senate and house conferees at a
sacrifice OF from $l5,000,000 to 500.
100000 in revenue proposed to be de-
rived At the last moment the con-
fereeS eliminated the proposed
amendments to the liquor taxes, re-
Jecting the senate amendments to in
crease the tax on beer from 81 80 to
Sl.13 barrel and to impose tax of
cents gallon on rectiiied spirits.
In sacrificing these amendments the
conferees made no substitution, Rep
resentative Underwoods proposal to
restore the tax of cents gallon
on gasoline, as contained in the house
bill having been rejected by the sen.
ate conferees. This action fixed the
estimated annual revenue at approx.
mately $90,O00,000 instead of $l05,.
10000 as contemplated in the senate
bill
Throughout the conferees fought
over the liquor tax and gasoline
amendment, the compromise proposal
having been carried 20 the president
by Senator Simmons and Representa-.
tive Underwood Final agreement,
however, paved the way for early ad.
journment, and leaders in both houses
planned to expedite adoption of the
report SO that the session might be
ended at once.
Cotton Legislation Lost.
Cotton legislation met defeat in the
house, while the war revenue confer
ence was in progress, the measure to
provide for quarter C G hl ion ad-
ditional currency through the issu-
ance of United States notes or Panama
canal bonds being rejected ty vote
Of % to 90. Lack of 9 Quorum pre-
vented action on the bill to permit
national banks to issue circulating
notes based on commercial paper uD
to 100 per cent of uuimpaired capital
and surplus and also on the measure
to license cotton warehouses. Indi.
cations were that both these measures
would be "pOcketed" in the rush for
adjournment today.
S1.50 Tax on Beer.
The war revenue bill agreement fix.
ed the tax on beer at $l.5O a barrel.
with the senate amendment for
per cent rebate for prompt payment
eliminated.
The senate amendment reducing the
proposed tax on bank capital and sur
plus from 81 to s thousand was re-
tanned. The senate proposal to tax
domestic sweet and dry wines 8
cents gallon with tax Of 50 cents
a 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 eXcep.
tons and the stamp taxes were not
disturbed Stock brokers will be
taxed $50 year instead of $50
The graduated tax On theaters also
was charged slightly, the final rates
being as follows: Thcaters with
seating capacity cf $50 or less will
pay $50 a year; 500 capacity, $50:
800 capacity, $50; more than 500 cap.
acity, 500 year.
Called Cotton Plan Unsound.
Chairman Glass of the banking and
committee, Republican Lead.
er Mann, and others in opposition on
both sides, declared the cotton plan
was utterly unsound," ana would
contract the credit Of the country
rather than expand it.
The cotton belt members, led by
Representative Henry and Hardwick.
insisted that the plan followed past
treasury policies and that the treas
ury often made large deposits of gov.
ernment funds to avert financial
stress in the various section of the
-