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Special Message

Special Message image
Parent Issue
Day
29
Month
January
Year
1895
Copyright
Public Domain
OCR Text

Washington, Jan. 28.- The president is expected to send a special message to congress this week. Tho subject of the message is generally agreed to b'e tho financial situation, and the condition of the gold resorve. This expected message makes foreeasting what the house wiü do rather diiïicult, because the programme will be subject to revisión in case the president does send in a special message. Speaker Crisp, who has been at Ashnvillo. N. C, for the benent of nis health, is expected today or tomorrow, and if special legislation is demanded by Cleveland to meet the crisis un effort will undoubtedly be made to comply with hls wishes. CoiiovHsion to tho Silver Men. The president. Secretary Carlisle and Attorney Gtmeral Olney had a long conforence at the White House at which the financial situation, it is said, was discussed in all its phases. Secretary Carlisle went to the White House and was soon joined by Olney. It is not known what, if anything, was decided upon, but it is believed that early in this week tho administración men in congress will make an authoritative proposition to the silver men looking to tho passage of a bilí providing for the issue of 8500,000,000 m 3 per cent. bonds, coupled with sorae silver legislation. Frieiids of the administration argue that it would be wise for the silver men to accept any fair and liberal offer, as in case they refuse any silver legislation during the next two years would be out of the question. Glad the Reserve is Low. The silver men say they are glad the gold reserve is running away. They say that silver will do and that a good way to make this discovery is to let the gold flutter to a premium. They declare the gold reserve a bugbear and a bogy man with which to scare financial babies. The sooner it disappears the sooner its harmless charactor will appear.and "goldbugs" who are ' 'goldbugs" through terrorization by Wall street and the banks will recover their senses and bo for silver. In the meantime members of congress who believe in the income tas as an equitable method of raising revenues are gratiflod at the unexpected good showing of the preliminary canvass made by the colleotors of the internal revenue at the direction oL Secretary Carlisle. They believe that the greater the amount realized from this tax the more popular it will become and the more firmly rooted as a part of the policy of the government. Kevenne Iram the ln:oine Tax. Representativo McMillin says that if a large per cout. of tho revenue of the government is derived from this plan any attempt to repeal it before the expiration of the five year limit flxed in the Wilgon bill will be exceedingly unpopular, and that the greater the revenuo derived from it the greater will be the probability of its re-enactment at the end of its term. When the proposition to tax incomes was before oongress the proiit from the scheme was at flrst estimated at from $15,000,000 to $18,000,000. Later the estimates of the committee were raised to the vicinity of tao, 000,000. Says It Will Be S50,00O,0OO. Hall of Missouri, who has given more study, perhaps.to the theory andhistory of the income tax than any other man In the house, did not place the total bclow $50,000,000. From tho resul ts of the canvass of the internal revenue bureau it appears that Hall was more nearly correct than the other forecasters. He now says that the income tax may yield moro than fi.0,000,000, and it is kuown that the treasury department officials do not place its results below that mark.

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Subjects
Ann Arbor Argus
Old News