Evening journal., 1888-10-05
TAKE YOUR CHOICE
Here Follow Three Reports on
the Senate Tariff Bill.
ARGUMENTS PRO AND CON
Voices of the Majority. Minority
and Mr.. Beck.
POINTS FOR TARIFF STUDENTS

ANAN ~ 10A 1Ahlfr DABUEA 10
The Majority Of the Senate Finance Com
inittee Pronounce Their nm just tn.
Thing, aud They Are Satisfied OF tn,
Inadequaey OF tho Mills bin as I
Remedial SIeasure-The Minority sa,
the Mills Bin Is in the Interest OF th,
Public Treasury and the whole People
the Senate Bin Is In the Interest Of tile
Private Pocket and Few Thousand
Manufacturers - They Recommend the
Mills BilI as tho Only Panacea-aHr.
Beck Goes 1t Alone" and says He L.
Glad the Senate Has Gone TO the Tx.
treme of Protection.
WASHINGTON, Oct 5.-The majority and
minority reports on tho tariff bill were pre-
sented in the senate. Both are very long and
explicit and are intended for distribution as
campaign documents. The majority renort.
representing the views OF the Republican
members Of the committee ou finance. fills
eighty nine closely printed pages Of which
over twenty-five are tabular. There are de-
tailed comparisons betwesn the features If
the Mills bill and also thoss Of the present
law and the bill upon which this is a report.
making all Of the essential points compre-
hensive to the average reader.
The majority report opens with the state
lnent that the demand fer a carsf fnl and
thorough revision Of our revenue laws is inn
peratiye. This revision, It says. is necessary
to reduce the national revenueS, which are
now excessive: to remedy the defects. anoma
lies and incon9ruifies which have been from
time to time discovered in the tariff schedules.
or which have been created by erroneous de-
cisions OF the treasury department; to secure
the proper readjustment and equalization Of
tariff rates, rendered necessary bv modified
business conditions; improvements in method
Of production; radical changes in prices, or
by new elements or sources Of composition.
and TO give relief and protection to many in
dustries which are now suffering on account
OF the inadequate rates levied on competing
products.
Tho public demand, the report says, for a
reduction OF revenue IS more urgent on ae-
count Of the inexcusable retention in the ma
tional treasury, or in the national banks. Of
volumes OF money in excess Of the amount
the treasury and to meet maturing obliga-
tions Of the government.
The existence of this immense surplus fur
nishes occasion for constant anxiety and an.
prehension Of possible financial disaster. The
failure to prevent this dangerous accumula-
tion melting, as it does, extravagant exuendi-
lures and constituting an ever present men
ace to the prosperity OF all our people, cannot
be too severely condemned; bat it is failure
for which the executive department Of the
government alone is responsible
This accumulation could and should have
been profitably avoidsd, and ths possibility
OF business disaster averted by a prompt re.
turn of the money collected from the people
to the channels OF trads through the pur
chase OF United States bonds that could at
all times have been obtained for prices
which. to the government, would have been
equal to an investment, if otherwise unprofit-
able funds at a rate OF interest Of not less
than ? per cent. per annum
It is probably true that the S60.O00O0l de-
posted in national banks cannot now be with
drawn without peril to the business interests
Of the respective communities where tile
banks are located, and that this sum must re-
main for an indefinite period a loan to
favored institutions without interest This
unfortunate situation, however. must havs
been foresean whom the deposits wers made.
and it should not be aggravated by further
deposits; nor should it furnish an excuse 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 en-
force the collection Of excessive revenue. and
to remedy the defects which we have enu
merated are within the scope Of legislative
relief, and congress may properly be held re-
sponsible for any evils resulting from a con
tinuance Of existing conditions 1t may.
however, be fairly said that responsibility |
for delay in the adoption OF the legislative
remedies rests upon the party in control
OF the house OF representatives, which by the
constitution has sole power to originate rev
enue bills. The anticipation Of ths senate in
any effort to cure existing evils by proper
legislation has not been possible, from the /
TACT that the bill under consideration is the 1
first that has reached the senate in more than
five years giving them jurisdistion over the 1
subject
Criticising the inaction Of sthose whose
anxiety for reform has been manifested by
repeated declaration the report saws; st /
would have been easy at any time when con-
gress has been in session since the 81 Of
March, lSS5-and its sessions have covered at
least twenty months Of that periodic have
secured the concurrence Of the two houses
upon measure which would have reduced
the revenue and amended the administrative
features Of our customs law in a satisfactory
manner.
at has been the evident purpose Of thoss
who have controlled the policy Of the party
in power to delay action, to magnify causes
for uneasiness and to multiply aud intensity
evils until the people of the country should
imperatvely demand relief, and then TO as
sumo that the evils and embarrassments
from which we are suffering are the neces-
sary incidents Of the protective system.
and that relief can only be found
in the emasculation OF destruction Of that
system The known attachmsnt Of the great
mass Of wage esrners Of the country to a srs.
tenn which has been productive to them of
unexampled prosperity, prevented the adop-
tion of policy Of open attack, and made il
necessary that some plausible reason should
be found for the stealthy accomplishment Of
their destructive designs"
The majority say that after that thorough
examination Of the Mills BILL they have be-
come satisfied Of its inadequacy as a remedial
measure in view 'of the condition which con