The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1888-10-10
The Bill Reported.

Majority and minority reports on the
senate tariff bill have been presented.
The majority report begins with a state
ment that the demand for a careful and
thorough revision of the revenue laws
is imperative. To reduce excessive
revenues, TO remedy in the schedules
defects developed by time or created by
erroneous decisions of the treasury de-
partment, to readjust and equalize tariff
rates in conformity to modified business
conditions, improved methods of pro-
ments or sources of competition, and
to relieve and protect industries which
now suffer by reason of inadequate
rates on competing products, revision
is necessary.
The public demand, the report says,
for a reduction of revenue is more
urgent on account of the ineXcusable
retention in the national treasury, or in
the national banks. of volumes of
money in excess of the amount re-
quired to pay the current demands
upon the treasury, and to meet matur-
ing obligations of the government
This accumulation could and should
have been avoided by the return of the
money TO the channels of trade through
the purchase of bonds, which could have
been obtained at all times at prices
which Che funds for their purchase
being idle and unprofitable) would
have been equal to an investment at
two per cent interest. The participa-
ton of the senate in any legislation to
cure existing evils by proper legisla-
ton has not been possible from the fact
that the bill under consideration is the
first in more than five years to reach
the senate giving that body jurisdiction
over the subject. Criticsing the mac
ton of "those whose anxiety for re-
form has been manifested by repeated
declarations, the report says:
at would have been easy at any time
when congress has been in session since the
| Sd of March, 1886, and its sessions have COW
cred at least twenty months of that period
to have secured the concurrence of the two
houses upon measure which would have
reduced the revenue and amended the adj
ministrative features of our customs law in
a satisfactory manner. 1t has been the eNi-
dent purpose of those who have controlled
the policy of the party in power to delay
action. to magnify causes for uneasiness and
to multplV and intensity evils, until the
people of the country should imperatVely
demand relief and then to assume that the
evils and embarrassments from which we
are suffering are the necessary incidents OF
the protective system and that relief can
| only be found in the emasculation or de-
struction of that system. The known at
tachment OF the great mass OF the wage
earners of the country to system which
has been productive to them of uneXampled
prosperity prevented the adoption of a pol
! Icy of open attack and made it necessary
! that some plausible reason should be found
for the stealthy accomplishment of their
destructive designs
The majority of the senate commit
tee is satisfied of the inadequacy of the
Mills bill as a remedial measure in view
of I" the condition which confronts u.s."
Its adoption would probably result in
an increase instead of reduction of
the revenue derived from imports, and
it invites and gives immunity to unlim-
tied fraud by the substitute of ad-
valorem for specific duties.
The minority of the committee COM
plain because its members were not
consulted or informed about the pro-
visions of the substitute bill, and de-
clare that the protectionists have had