The Washington herald., 1914-09-23
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The report denies that the threatened
shortage is in any wise attributable to
the Underwood-Simmons tariff law and
insists that IF il had not been for the
war in Europe the tariff act OF October
g. 1873 and the other sources Of revenue
would have yielded sufficient revenue
to meet the demand OF the government" d"
| The final necessity for the enactment
OF an extraordinary revenue measure is
summed up by the Democrats in the fol-
lowing conclusion.
1--WE have therefore reached the con-
clusion that 1t is conservative to state
that the loss of customs that will be
caused by the war conditions abroad for
for one year will be 800, 100000. This
amount, unless replaced by taxes from
other sources, will cause a serious def
cit in our Treasury balance. II is true
that we have a general fund balance in
the Treasury amounting to $ll90Oo.Oc0
| About 81. 10000 OF this money is now
deposited in the national banks Of the
country to assist in the movement Of
crops and to meet the Treasury daily
needs when required. or the remaining
surplus there is large amount in sub
sidiary coin and bullion, which is not
available for use in meeting current OBJ
legations. The question therefore CON-
fronts US as to whether II is advisable
TO call in this surplus from the banks at
take care Of the loss of revenue caused
by the war in Europe"
DIEtributIon of Revenues.
The slO5OoO.O 900 Of revenues which the
Government will obtain through the me
dunn of the proposed bill the Democrats
Of the committee distribute as follows:
Fermented liquors ....---..........S y, 500, 600
Wines ..--....................... h,WJ,VD
Gasoline
Special taxes OBSERVATION-DISCLOSURES. le.SpVN
Stamp taxes NEUTRALITY-SUSPICIOUS.. 100000
Total ACKNOWLEDGEMENTS .slO5 OoO, 900
The minority report in which the Re
publican members Join, also was made
public yesterday. 1t takes the ground
that the emergency which the Democrats
consider so grave is hardly an emer-
gency at all and that adding tax burdens
to the back of American industry at this
juncture is unwarranted. Also the Re-
publicans fail to discern any threat OF
disaster through the withdrawal OF Fed
eral funds from the banking institutions
OF the country at this time.
That the minority will receive short
shrift at the hands of the Democratic
majority in the House when the bill
comes before that body was in evidence
yesterday when Majority Leader Under
wood introduced the rule under which
the bill will be debated. This rule is the
most drastic ever presented to the House
for the consideration OF a measure OF the
magnitude OF the pending bill. 1t pro-
vides for but four hours OF general de-
bate and no debate whatsoever under
the five-minute rule. The bill will not
be subject to amendment and but one
motion. a motion to recommit, will be ad-
missable.
Republicans Up In Arms.
Naturally the Republican members OF
the House are up in arms at this appli-
cation OF the gag. They will be heard
from during the short two hours allotted
them of the four hours general debate.
The rule has been referred to the
Committee on Rules and will be reported
without amendment, 4 is expected.
Thursday, at the opening of the days
session. The legislative battle will begin
right there. Leader Underwood Is con-
vinced, however. that the debate on the
rule and the bill itself will require not
more than six hours and that the House,
by o'clock p. m, at the latest. will have
passed the war revenue bill.