| Show TO TAX STOCK DEALINGS It seems there isto be an amendment amend-ment to the tariff bill to place a tax on stock and bond transactions This has been agreed upon by the Republican Republi-can senators In caucus The object Is ito i-to supply the revenue It was expected to raise from a tax on tea and beer but it having been decided not to adopt that tax this other is substituted substi-tuted in place oft It is estimated that the revenue to be derived from it i will amount to some seven millions of Collars The proposition is not liked In Wall street President Eames of the stock exchange declaring that It is ill advised ad-vised While others SPPTTI tn think curh A legislation unconstitutional If such legislation is passed stock and bond transactions on every stock exchange in the country will be affected and the tax will be the same on all stocks no matter whatthelr value There Is no more objection to the proposition J because of this than there is to making the stamp tax on bank checks uniform no matter for vhat amount they may be drawn The really important point about the proposition Is the fact that it is another an-other strong evidence of the tendency In the Republican party to resort to other methods than tariff duties for raising revenue It is a tendency to adopt those methods of raising revenue that have always been advocated by the Democratic party as the proper ones So plain was this tendency made when it was proposed to raise revenue by placing a tax upon tea and beer that the Republican party In the senate was forced to abandon it And here Is a recurrence of the very same tendency Thus Mr John T Terry a director of the Western Union Telegraph Tele-graph company and the Manhattan Railwaycompany and who has always been a steadfast Republican since the formation of the party declares that it seems to him that the nartv Is ruEhinir headlong to ruin when it advocates such legislation as this It is certainly making a radical departure from its traditions when it advocates such legislation leg-islation as this The whole country is ina transition stage on the question of the best methods of raising revenue The next national conventions will probablywit ness some rather startling declarations on the subject of revenue and tariffs |
