Evening star., 1916-08-14
Democratic Caucus to Con-
tinue Deliberations on :
Revenue Measure. sS
DYESTUFFS SCHEDULE =,
APT TO CAUSE DELAY
Wine Schedule and Other Matters to
Be Disposed Of Before Work Of
Conference u Done.

The democratic caucus of the Senate
tinue work on the revenue bill Ma
jority leaders hope that tho caucus
will be able to complete the bill before
the meeting adjourns. -
This 10 doubtful, howevsr. The dye
stufrs schedule. the wine schedule ana
several other matters OF Importance re-
main to be acted upon.
-- Tax on pyestuRs Opposed.
An effort will be made by some DEM
ocratic senator's TO have the dyestuf
schedule thrown out entireiy on the
ground that 1t 10 . protective tariff
and foreign to the principles OF de-
mocracy.
Senator Hitchcock today submitted
an amendment he will urge. which
would. levy a duty on foreign or do
mestic bonds and certificates Of stock
imported to the United -States. The
tariff on bonds or obligations Of FOR
eign governments would be ! per cent
par value; bonds Of corporations OF
the United States, / per cent: certifi-
Gates of stock. foreign or domestic,
2 per cent. -
Corporation Stock Tax. -
The democrats OF the Senate worked
In party caucus on the revenue bill all
yesterday afternoon and until late last
night. The caucus determined upon a
corporation stock license tax, which
is estimated to raise about S2o.ooo.o00.
Southern and western senatofs- made
q bitter assault upon the finance COM
mittee amendment which proposed a
10 per cent tax on the net profits OF
manufacturers OF materials used as
component parts Of munitions Of war.
It was insisted that 1t would result In
tering into the manufacture OF muni-
tions.
A motion by Senator Underwood to
strike out the proposal finally was de-
feated, 20 to Is. Senator Simmons.
chairman Of the committee. has agreed.
however, to reduce the tax on mate
rails to per cent.
Munitions Tax Cut to Half.
As approved the section relating to
munitions provides that . net proht
tax of 10 per cent be levied upon man
ufacturers of all munitions Of war, and
that q per cent tax be levied on man
ufacturers Of materials which satef
into such munitions The estimated
loss Of revenue due to the per cent
reduction will be about S5.0o0.0o0.
To make up for this decrease and
also to- make possible elimination OF
fierce storm was gathering not only
in the caucus, but In the House. 6en-
ator Simmons suggested q license tax
OF so cents on each $1,000 OF capital
ali siGca ccrpoeasions $685. sioo Of the stock
of each CORPORATION to be exempted.
The pf0SotEi wSs .seissd uDons - The
senators present at once and incorporated
mousiy. approved. The tAx would apply
to ali corporations including ban)ts. hav-
ing capital and surplus In excess Of t1oo.-
00e, except munitions CORPORATIONS. taxed
under the munitions section. ~.l
Lewis Proposes Bond Issue.
Senator Lewis stirred the caucus By In
Producing a resolution to postpone action
on the revenue bill until the next session
OF Congress and to direct an issue OF
Panama canal bonds to meet expenses Of
government up to that time The Illinois
senator urged that circumstances abroad
might be SO altered within q few months
as materially to affect revenue require
ments
which was supported by Senators Mar
tine, harQWlCk ana InQcf Wo0Q IN 0cO0lo
and opposed by Senators Simmons, Hoke
Smith and Walsh Senator Lewis VIII ask
for action on II later. Adoption. admin
istration leaders believe. is unlikely.
Income surtax Increases.
In perfecting the income tax section
the caucus agreed to an amendment
adjusting the increased surfaces on in
comes in excess Of 100000 ss follows:
On net income exceeding 100000. but
not exceeding 81 0oo. 900. aatax OF 10 per
cent; exceeding sl,ooo,oeo, but not ex-
ceeding s1.5oo.ooo. IL per cent: exceed
ing sl,50o, 900. but not exceeding ga
ooo. 200. IL per cent; exceeding $1,000
900. 13 per cent
The caucus failed to reach . detailed
Of what stamp taxes
should be retained Senators said the
stamp taxes on express and freight
bills OF lading and telephone and tele-
graph messages certainly would be
stricken out.
senator Underwood announced he
would make a vigorous night on the dyo
stuffs tariff proposed In the bill. on the
ground that IL IL undeniocrntic. he
also expects to fight the tarih commits
sion proposal.
,rannnYrT rAnYETS aT0YEN