The New York correspondent of the Times states in Wednesday's
paper that no alternative will be proposed to the Payne Tariff Bill. The minority, however, has submitted a Report attacking the Bill, asserting that it will increase the cost of living, is "crude, indefinite, sectional, and prohibitive," and will be " an open challenge to a trade war with every other nation on earth." The average ad valorem rate proposed is as high as under the present law,—probably it is a little higher. The opposition to the proposed Federal Inheritance-tax is increasing from those thirty-throe States which already have Inheritance-taxes. It is thought that a similar tax levied by the Federal Government would impair the fruitfulness of the present taxes. The substitution of a tax on the dividends of corporations is being discussed, but the correspondent thinks that an Income-tax will be the eventual solution. Such a tax is regarded with growing favour.
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