The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1884-02-15
Notes from Washington.
The Tariff Probable Fate of the HEorri-
son Biii-The Duties on WoSl-What
Shall be Done with the Reserve Fund
PrssideafisI q Oms and How they are
Working Duration of Patents.
j Correspandence of the Press }

(Spee1al correspondence of the PressO
WASHINGTON, Feb. u.
Mr.. Mills OF Texas, who is member OF the
ways and means committee, thinks that that
committee will have little difficulty in agree
ing upon tie Morrison bill with some modfca-
tions. He expects the bill to be reported With
in comparatively short time and to see it
pass the House.
81 think it is very good bill, he said, "on
the whole, and think the committee is favor
ably impressed with it. There will undoubt-
edly be scme changes made by the committee,
but not very many. think there will be
some additions to the free list, and some other
changes"
What about wool, Mr.. Mills, win there be
any changes in thai?
"WelI," he said, 81 do not think it will be
placed on the free list, though some people
think it ought to-
Do you think The present features of the bill
which reduces the wool taliff 20 per cent. will
remain unchanged?
'sYes,' be said, ~ think so."
That will not please Mr.. Converse and his
following?
"No,' he said, al suppose it will not, but
their calling for the restoration of the old
tariffs is all nonsense; they ought to know bet
You come from wool Eoducing State, do
you not, Mr.. Mills?
'sYes, Texas is the second wool producing
State in the country. The fact is in my opin-
ion the tariff on wool does not affect the prices
of native wool. You see, in the manufacture
OF cloth they have to have all the grades OF
wool; very fine, very coarse, and Medium Now
we don't grow the very coarse grades in this
country, the consequence is that must inn
port wool. II we increase the tariff on wool
the result is that the wool imported for our
manufactures than IL 0thRrWiafs
would, and increases the cost OF their manufac-
tnre. 1t only affects wool 10 thai
way by increasing the cost of the cloth into
which it is woven. 1t does not increase the
market price of domestic woos. The Drces of
WOODS under the very low tariff which prevailed
prior to 1860 were higher than they wei Q under
the increased tariff since that time Previous TO
1860 GER ain grades of wool were allowed to
Come in free of duty, while on Others the tariff
was comparatively low, and the fact that with
that sort of law the prices of native wool
were better than under high tariff shows that
high import duties on foreign WOODS do a OF in-
crease the prices OF the native product"
IS to the general tariff oill. MIR. Mills do
you think it will pass the House?
eyes, he said II tnink a reasonable tariff
bill Will pass the House, one making moder-
ate tariff reduction"
How about the Senatt?
II dou't know as to that" he said. 'iI see
that Se nator Beck has been saving that rsa-
sonable bill would pass that body; / hope he is
right, though am frank to confess that have
serious doubts"
Aud the President, would it get past him, do
you think?
Rather doubtful" he answered.
THE RESERVE FUND.
Mr.. Mills is after the reserve fund again. He
thinks. as do some other people that there is
no occasion for so large reserve fund in the
treasury as is now kept there. He introduced
on Monday bill directing the Secretary of the
Treasury to redeem $100.OO0O00 bonds from
the reserve fund.- "I think" he said s'that
the nation ought to do as individuals do-pay
its debts as fast as possible. 1t would be folly
for man with plenty of money in his pocket
to allow his debts to run on at interest while
his money was bringing him nothing. So it is
with nations. We have $l5O,000,C COO in the re-
serve fund which is kept there on the plea that
it may be needed for resumption purposes, or
in case of a run upon the treasury or some-
thing of that sort. 1t has been kept so for
years and without any special demand upon it,
SO that we may now consider, think, that it
is not needed in large amount
$50,G00,000 would do just as well, think, aud
We could get rid of tue interest on 100000,
900. am anxious to see those bonds out OF
the way"
Yet there are some people, Mr.. Mills, who
are moving in favor of more bonds?
"Yes, know. They want to buy in the
four per cents and the four and q half per
cents at q tremendous premium. 1t will be
poor policy for the government to pay 30 or 40
per cent premium as it would have to in case
OF that kind.
Do you think proposition of that kind is
likely to be made in this Congress?
II hope NOT was the reply, shut must ad.
NIT thai the tendency of sentiment seems to
be in that direction. 1t would not surprise ne
at all if it should come about
GENERAL SHERMAN AS A PRESIDENTIAL cANDr-
DATE.
There is no boom for General Sherman as a
Presidential candidate. Most of the other
candidates are having their little booms. Presi-
dent Arthur's was observed some time ago,
and Logan's is in full tide at the present
moment. Yet there are many reasons for be-
lieving that Sherman may be the choice of
the convention. It is observed that almost
every man who discourses upon the question
OF Presidential nomination, after RAINING his
choice of candidates, and telling what the
strength of this or that man would be, and
what his chances of success, winds up by say
ing if General Sherman should be nominated
there would be NO doubt of our success; he
WOulu sR60p bud COuDbry. WltQlu tl0 past
month your correspondent has talked with
many politicians and public men upon the
subject of the Presidential candidacy, and
while be has found all shades of opinion, and
all sorts of candidates mentioned and urged
he has found this remark almost univers |
that if Sherman were nominated nothing
could defeat him. Only two objections are
urged against him: on5 is that while his Quali-
Iaa as a fad hai 10 not
much of a statesman. The other is hat his
wife is a Catholic. How much the latter would
tell against him when tue question should
come is uncertain, but the chances are tnat 1t
would bring as many supporters from the
other side as it would aienats 10 his IAN
party. Logan ia orkiug his boom for all il is
worth. Arthur is laying his plans TO ask re-
nomination II he gees that he Can carry New
York. B.aiue, some suspect, keeps an eve on the
Presidency while he affe cts liteTa ure Senator
| Sherman hugs to his breast the belief that he
is the choice of the monied interests Of the
ast. The people and the polite aus say they
| are waiting for developments and it need SUI
| prise one if that development shall be u
| general sentiment in favor OF Tecumseh Sher-
man as the only man whose name Can assure
| success TO his party.
PATENT LAWS.
A good deal of interest is taken by those in
terested in patents, in the bill now in Congress
The proposition isso it appears,in the interests
of the people as against patent rights and mo-
nopolies and that that cry is likely to receive
| good deal of attention when it goes before the
House. The term for which patents are now
| granted is seventeen years and a reduction OF
the time to seven years would be, IL is thought
| by the patent Office people very serious blow
! to tie system.
The length Of time required to introduce and
| indicate the value of certain patents is often
| as much as the seven years proposed and
the Law which would only make the life of
patent seven years without possibility of a
renewal would, it Is feared, have a very de.
| pressing effect upon the inventive genius OF
the country which has been so active and SC
| valuable to our industries in the past few years
| The patent laws of other countries give even a
longer time in which patents may run than il
| does in this country at present.
(From other sources)
| The Tariff-A Hot Protest from Louisiana
| PrOtectioRists.
| WASHINGTON, Feb 13,