The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-10-05
Report of the Majority of the Senate FL
nance Committee on the New Measure.
A Fair, Just Schedule, Promising the Kind of
Protection That Will Result In Benefit to
the Largest Number Of Our People.
The Defects and Objectionable Features
Of the Mills Bill Pointed Out.
The Senate Finally Adopts the Resolution
Ordering an Inquiry as to the Benet Cir
cular-Ths Question Of Adjournment
THE SENATE TARIFF BILL.


Argument In Its Behalf by the Majority OF
the Finance Committee.
Special to the indianapolis journal
WASHINGTON. Oct. At was evident to the
most casual observer around the Senate to-day
that q great load had been lifted from the
shoulders of the Republican and Democratic
members Of the committee on finance in the dis
position OF the tariff bill and the completion Of
the reports upon it The work Of compilation of
the bill and the hearing Of the various interests
affected by it has been going on for four or five
months. The members of the committee have
been hauled around. jostled and pushed about
and importuned and criticised until their
patience was almost threadbsre. and the ap-
pearance about them Of any ono desiring
information on the subjecs Of the bill was like
pail and nightmare. Mr. Allison. OF Iowa, the
able and genial chairman, who has had the
weight Of responsibility for this bill upon his
hands. has resumed his normal genial disposition,
and was in his seat 10 the Senate during the
day. For the first time in months he had sn
opportunity, and be felt like going about among
his friends and chatting upon current legislation,
the campaign aud politics. Senators Sherman
and Hiscock, of the committee ON finance, have
left the city, and Mr.. Aldrich the other Repub-
lican member Of the committee, intends leaving
the city this week. Senators Harris and Vance,
the only Democratic representatives OF the CON-
mittee on finance ip the city, also showed evi.
dcnces during the day of feeling of great relief
by having disposed Of .he tariff bill. There is
hetter humor and better atmosphere through
out the entire Senate end Of the Capitol now.
The reports accompanying the bill were read in
tho Senate to day. The majority Of the COM
mttss declares that the demand for . careful
and thorough revision Of our revenue laws is
imperative
First-To reduce the national revenues which
are now excessive.
Second-To protect honest importers and do
mestic producers from the disastrous conse-
quences resulting from fraudulent uudervalua.
tions Of imported merchandise on which ad va
lorem rates of duty are levied.
Third-T0 remedy the defects, anomalies and
incongruites which have been, from time
time, discovered in the tariff schedules or which
have been created by erroneous decisions OF the
Treasury Department
Fourth-To secure the proper rs-adjustment
and equalization of tariff rates, rendered neces-
sary by modified business conditions, improve
ments in methods reproduction. radical changes
in prices, or By new clements or sources Of COM
petition.
; Fstth--To give relief and protsctior 20 mary
industries which are now suffering account
Of the inadequate rates levied on competing
products.
The public demand for reduction ofrevenue,
tn . majority Gays, is more urgent on account of
tn inexcusable retention in the national treas
ury or on deposit ia national banks Of vast
sums OF money In excess of the amount required
"a pay the current demands upon the treasury
aud TO inset the maturing obligations Of the
government This sum, with the additions
which will accrue within the next four months,
and before any legislative action reducing
the revenues can be effective. il declares, will
be sufficient to pay in full the outstanding l-2
per cent bonds due In 1S9l-$22l ,000, 600. This
accumulation, 1t insists, could and should have
been profiably avoided. and the possibility of
business disaster averted by prompt return of
the money collected from the people to the
channels of trade through the purchase of
United States bonds, that could at all times
have been obtained for prices which, to the gov
ernment would have been equal to an invest
ment of otherwise Improbable funds at rnte
of interest Of not less than 2 per cent per
mum.
1T has been the evident purpose" the report
says, ''of those who have controlled the policy
of the party in power TO delay action. to mag
Nifty causes for uueasness, and to multiply ard
intensity evils until the people OF the country
should imperatively demand relief, and then to
assume that the evils and embarrassments from
which we are suffering are the necessary Incl
dents Of the protective system, and that relief
can only be found in the emascuiation and de-
struction of that system. The known attach
ment OF the great mass or the waRe-earners OF
the country to q system which has been pro-
ductive TO them of unexampled prosperity, pre-
vented the adoption OF a policy OF open attack,
and made it necessary that some plausible
reason should be found for the stealthy accom-
piishment of their destructive designs"
The majority expresses the conviction of the
inadequacy. of the House bill as aremedial meas-
ure for the reasons
"First-That it would probably increase in
stead of reducing the revenue.
''Secopd-That it provides no remedy for
underv valuations, but on the contrary, invites
and gives immunity to fraud by substituting ad
valorem for specific duties.
"Thrd-That it does not remedy any OF the
inequalities or anomalies, or cure any of the de-
fects of existing law"
II foreign manufacturers the majority says,
should, through changes made in the cotton aud
wooden schedules, secure a quarter of the mar
ket now held by American manufacturers, and
this it thinks is very conservative estimate,
the additional duty would reach at least $780,
600, ,0O0 An expansion of imports. it declares,
would also follow the reduction OF rates on
china. porcelain, common window-glass, manu-
factures of iron and steel, fax, jute. hemp, and
many minor manufactures, with greatly aug
mented revenues. 1t. declares that the House
bill perpetuates existing inirmties, and creates
by its ohscurtiee and faulty construction doubts
nitely the present confusion. The report makes
reference, for illustration, to Its appendices,
citing large number of paragraphs OF the
the present law of doubtful meaning, which the
majority claims the House bill fails to remedy,
and TO paragraphs of the House bill, anv proba-
BILE Interpretation Of which, it thinks would in
crease existing confusion. ''The results. how
ever,n the majority says. (which would flow from
the failure of the bill as q corrective measure
would be much less disastrous to the material
interests of the country than those which must
surely follow the adoption of its vicious sffirma
tive propositions The feature which most
| clearly indicates its purpose is the proposed
substitution Of ad valorem for specific
duties. This could have no other result
than to change rates protective
| for others which would not protect
| The promoters of this bill must have been
| familiar with the testimony submitted to Con-
| gress by Secretary Manning, disclosing enormous
| frauds apon the revenue and honest merchants
| through the of ad valorem rates The fire.
| quency and notoriety Of these frauds and the
| widespread Generalization resulting from them
| should have prevented any attempts TO extend
| the system. The use of ad valorem rates has
| been condemned by the experience Of every
| commercial nation in the world, by the judg-
| meut Of those who have been intrusted with
| the responsibility of customs administration.
| and by honest importers and merchants, as well
| as by intelligent political economists
and legislators of every shade OF
economic belief The reasons for this general
| and sweeping coudemnAtio obvious. Ad va
/ L. .G-Ne