taxes on business and taxing bond transactions. The Finance Committee bill met with opposition on the Senate floor. The House bill sought to raise million in taxes, and to borrow another million (if necessary). But the Finance Committee bill raised million in taxes and another million via the issuance of United States Notes and silver certificates. Another Finance Committee change taxed all corporations at the same rate, without giving an exemption to small corporations. The issuance of Notes was stripped from the bill on the floor, but the issuance of certificates remained. An effort was made to exempt small businesses from the corporate tax, but this effort also failed. A wide range of amendments were offered on the Senate floor, including an antitrust law, an income tax, repeal of the United States Treasury's ability to issue bonds, and a number of restrictions on the issuance of bonds. All these failed. However, a limitation on the amount of silver coin which could be issued by the Treasury was adopted, the estate tax was lowered to 0.75 percent, and an excise tax on imported tea were all adopted. The Senate began debating the amended bill on May 16, and approved it on June 4. Conference committees were established by both chambers, although the date when each was established is not clear, nor is it certain when the conference report was issued to the House and Senate. The House voted on the conference report on June 9, approving it by a vote of 154 to 107. The Senate adopted the conference report on June 10 by a vote of 43 to 22. President McKinley signed the War Revenue Act into law on June 13. Terms The War Revenue Act of 1898 authorized a tax on a wide range of goods and services, including amusements, liquor, tea, and tobacco, and required tax stamps on some business transactions (such as bills of lading, manifests, and marine insurance). The act also established a one-cent per call "telephone tax", which lasted three years. A tax on corporate gross receipts over $200,000 was also included, but applied only to sugar- and oil-refining companies. The Supreme Court had struck down a gross corporate receipts tax in Pollock v. Farmers' Loan & Trust Company, 157 U.S. 429 (1895), because, as a direct tax, the gross receipts tax violated the Constitution's provision that direct taxes be apportioned. Opponents of the tax