Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1888-10-11
TARIFF LEGISLATION.
Widely Divergent Views of the Sen
ate Finance COMMITTEES.
synopses of the Majority and Minority
Reports to the Senate on the
House Measure Known
"a the Mills Bill.

SyDopses of the Majority and Minority
Reports to the Senate on the
House Measure Known
"a the Mills Bill.
WASHINGTON, Oct. 5-Yestarday the
majority and minority reports on the
Tariff bill were presented in the Sen ate.
Both are very long and explicit, and are
intended for distribution as campaign
documents. The majority report, repre-
senting the views of the Republican menu
bers of the committee on finance, fills
eighty-nine closely printed pages, of
which over twenty five are tabular.
There are detailed comparisons between
the features Of the Mills bill (and also
those of the present law and the bill
upon which this is a report making all or
the essential points comprehensive to the
average reader. The report opens with
the statement that the demand for care :
full and thorough revision OF our revenue
laws is imperative.
This revision is necessary: To reduce the Ma
tional revenues, which are now excessive; TO
remedy the defects, anomalies and lncoI-
gruities which have been from time to time
discovered in the tariff schedules, or which
have been created by erroneous decisions OF the
Treasury Department.; to secure the proper re-
dered necessary by modified business condi-
tions, improvements in methods. OF production,
radical changes in prices, or by new elements
or sources of competition, and to give relief and
protection to many industries which are now
suffering on account of the inadequate rates
levied on competing products. The public de-
mand, the report says, for reduction OF reVe-
nue. is more urgent on account of the inexcusa-
BILE retention in the National Treasury. or on
depos: in the National banks. of vast sums OF
money in excess of the amount required to
pay the current de nands on the treasury, and
to meet the maturing obligat ons of the Gov
eminent
The existence of this immense surplus fur
nishes occasion for constant anxiety and APP
prehenssion of possible financial disaster. The
failure to prevent this dangerous accumulation,
melting. as it does. eNtravagant expenditures.
and constituting ever-present menace to the
prosperity and enterprise Of all our people, can
not be too severely condemned; but 1t is fall
ure for which the executive department of the
Government is alone responsible. This accu-
mutation could and should have been profita-
bly, avoided. and the possi bility of business dis
aster averted by a 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 at prices which to the Gov
eminent would have been equal to an invest
ment of otherwise Improbable funds. at a rate
of interest of not less than two per cent. per
annum 1t is probably true that the sixty mill
lion dollars deposited in National banks can
not now be withdrawn without peril to the
business interests of the respective comm uni
ties where the banks are located, and that this
sum must remain for an indefinite period. q
perm anent loan to favored institutions without
interest. This unfortunate situation, however,
must have been foreseen when the deposits
were made, and it should not be aggravated by
further deposits nor should it furnish an ex-
cuse for the failure to promptly dispose of the
much larger sum remaining in the treasury in
the manner indicated.
To amend the provisions of law which enforce
the collection of excise revenue, and to remedy
the defects which we have enumerated are
within the scope of legislative relief, and Con-
gress may properly be held responsible for any
evils resulting from continuance of existing
conditions. 1t may, however, have been fairly
SAID that responsibility for delay in the adop-
ton of legislative remedies rests upon the
party in control of the House of Representa-
tives, which by the Constitution has sole power
to originate revenue bills. The participation
Of the Senate in any effort to cure existing
evils by proper legislation has not been posi-
tile from the fact that the bill uIder considera-
ton Is the first that has reached the Senate in
more than FIVE years giving them jurisdiction
over the subject.
Criticislng the inact1on of "those whose
anxiety for reform has been manifested
by repeated declarations" the report
gays:
It would have been easy at any time when
Congress has been in session since the Sd of
March, 1SS5-and its sessions have covered at
least twenty months OF that period-to have
secured the concurrence of the two houses upon
a measure which would have re-
duced the revenue and amended the
administration features OF our customs laws in
satisfactory manner 1t has been the evident
purpose OF those who have controlled the policy
he ,orfx-i in tn
Nifty causes for nneasiness and to multiply and
to- 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 incidents of the protective system
and that relief can only be found in the er1as-
culation and destruction of that system. The
known attachment OF the great mass OF the
wage-earners of the country to a system which
has been productive to them of unexampled
prevented the adoption OF a policy
OF open attack and made it necessary that
some plausible reason should be found for the
stealthy accomplishment of destructive de-
signs
"The majority say that after a thorough
examination OF the Mills bill they have
become satisfied of its inadequacy rs a
remedial measure in view OF the condi-
ton which confronts u.s." and IN some
general criticisms of the bill reach these
Its adoption would probably result in an in
crease instead of a reduction of customs reve
nue.. It provides remedy for undervalua-
tons, but, on the contrary, 1t invites AMI
gives immunity to unlimited fraua
by the institution OF al valorerl
for specific duties. 1, does not remedy any OF
the irregularities or anomalies. or cure any or
the defects Of existing law While it perpetu.
ates existing injustice, it creates, by its OBJ
scur1ties of purpose and phraseology, and by
It's faulty construction, doubts and antiquities |
which must multiply Indefinitely the confu sion |
now existing It does not preserve the CLASH !
fcetion of dutiable articles in schedules, and
It is impossible to say in many in |
stances to what clause OF existing law the |
amendments proposed by the bill were !
intended to apply, or as to what their effect |
would be: and the results which would flow
be much less disastrous to the material inter- |
esss of the country than those which must sure |
" follow the adoption of its vicious Affirmative |
propositions.
After an exhaustive exa mination of the |
MILLS bill in detail, and long discussion |
Of free trade, protection. the labor cost
of production and war tariff The majority |
close their report with the following OBJ I
servation concerning their work and the |
two tariff measures now before Congress: |
IN all the numerous changes suggested yout |
,ornm .ttee have had constantly in view the |
pr. paration of a consstent measure, whose I
influence would be felt in every |
section and hy every class of our people, which |
would give greater diversity to our industries.
md by strengthening and invigorating
he American system OF protection. secure
he harmonious development and pros.
,er1ty of agriculture. manufacture and |
commerce The differences between the
House dill and tbs substitute re-
ported by your comm ttee are fundamental. |
The House bill has been formulated on the /