New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-09
Congress Budget Totals
Almost Two Billions
Expenditure of $780, 100000 Authorized for Army and
Navy-Four Treaties and Other Important Legis-
ation Effected in Session Just Closed

which prevented threatened nation
wide railroad strike. President VIII
son, after futile negotiations with Off
Gals OF the railroads and railroad
brotherhoods, submitted the contro-
versy to Congress- recommending leg
islation 10 avert the strike and 10 pre-
vent such emergencies from arising in
The future
After a week Of consideration a bill
was passed to establish an eight hour
day as a basis for pay of railroad
workers, the present rate OF pay for
ten hours work not 20 be reduced
and the men TO receive pro rata pay
for work in excess of eight hours,
pending an investigation by special
commission into the effect Of the eight
hour day on railroad revenues.
Most important legislative enact
ments of the session, exclusive of laws
for national defence, included the fol-
lowing:
Government ship law-Appropriat-
ing $50,000,000 TO operate ships in for
eign and coastwise trade when unable
TO lease them to individuals or private
corporations.
Child labor law-Denying interstate
commerce to products of mines and
quarries employing children under six
teen years of age, and factories, mills,
canneries and other establishments en-
ploying children under fourteen years.
Emergency Revenue Law.
Emergency revenue law-providing
for doubling the normal income tax on
the lowest class, making an additional
surtaX ranging from l per cent on that
portion of incomes exceeding 5000
to 19 per cent on amount of incomes in
excess of S2,000,000, levying a gradu-
ated tax of l TO 10 per cent on inheri-
tances ranging from $4,000 to $4,000
600, a 10 per cent net profit tax on
manufacturers of munitions and a per
cent net profit tax on manufacturers of
materials entering into munitions, a
license tax on actually invested capital
stock of corporations capitalized at
more than $4,000, wine, beer and
liquor excise taxes and miscellaneous
stamp taxes.
Good roads law-Providing for CO.
operative Federal aid to the states for
construction of highways, and appro-
priating S75000,00 to be spent in five
years.
Federal Reserve-Amen lments, in
Guiding amendment TO the Clayton anti
trust law permitting officers and direc-
tors Of member banks to become Off
GERS and directors of not more than
two other competing banks, and
amendments permitting national banks
10 establish foreign branches. liberal
izing regulations for discounting com
mercial paper and permitting member
banks in towns of 5000 or less popula-
tion TO act as agents for insurance
companies.
Four treaties were ratified by the
Senate. The most important were the
long pending Nicaraguan convention
providing for the acquisition of a
canal route and naval station rights
in the Bay of Fonseca for $4,000 700,
and that ratified in the closing hours
providing for the purchase of the Dan
ish West Indies for s25,OOO.0Oo.
Another was the treaty with the Re
public Of Hayti providing for an Amer
lean financial protectorate.
Death claimed four members Of the
Congress during the session-Senators
Shively, Of Indiana, and Burleigh, Of
Maine, and Representatives Brown and
Moss, both of West Virginia.