Rensselaer Democrat, Volume 1, Number 2, Rensselaer, Jasper County, 22 April 1898 — TO RAISE FUNDS. [ARTICLE]

TO RAISE FUNDS.

Committee Agrees Upon a Plan for War Revenue. Tbe Ways and Means Committee agreed upon a plan for raising revenue in case of need, to carry on war with Spain. The plan will raise more than $100,000,000 additional revenue annually, and is thus distributed: An additional tax on beer of $1 a barrel, estimated to yiejd $35,000,000: a bank stamp tax, on the lines of the law of ISGG, estimated to yield $30,000,000; a duty of 3 cents a pound on coffee and 10 cents a pound on tea, and a like amount of internal tax on stocks of coffee and tea on hand in the United States, estimated to yield $28,000,000; additional tax on tobacco. expected to yield $15,000,000. The committee also agreed to authorize the issuing of $500,000,000 bonds. These bonds are to be offered for sale at all postoffices in the Lraited States in amounts of SSO each, making a great popular loan to be absorbed by the people. To tide over emergencies, the Secretary of the Treasury will be authorized to issue treasury certificates. These certificates or debentures are to be used to pay running expenses when the revenues do not meet the expenditures. These preparations are distinctly war measures and would be put in operation only should war occur.