Bismarck weekly tribune., 1888-10-12
The Present Surplus Should be Re-
verted to the Channels of Trade
by the Purchase of Bonds.
The Minority Say Their Wishes Were
Not Consulted in Preparing
the Substitute Bill.
They Claim the Majority Only Lis
tened to the Manufacturers
Side of the Issue.
The Majority Report.

WASHINGTON, Oct. 4.-The majority re-
port on the tariff bill declares that the de-
mand for a 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 domestic producers from the
disastrous consequences resulting from
fraudulent under-valuation and of inl-
ported merchandise on which ad valorem
rates of duty are levied; third, to remedy
the anamalous defects and incongruities
which have been from time to time dis
covered in the tariff schedules or which
have been created by erroneous decisions
Of the treasury department.; fourth, to Sc
cure the proper readjustment and eQualiza-
tion of the tariff rates, rendered necessary
by the modified business conditions, inn
prOvements in the methods Of production,
radical changes in prices or by new ele-
menJs or sources OF competition; fifth, to
give relief and protection to industries
which are now suffering on account of the
inadequate rates levied on competing pro-
ducts. The public demand for reduction
of the revenue, the majority says, is more
urgent on account of the inexcusable
RETENTION IN THE NATIONAL TREASURY
or on deposit in the national banks of vast
sums of money in excess OF the amount re-
quired to pay the current demands upon
the treasury and to meet 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 revenue
eau be effective, it declares will be suffi-
cient to pay in full the outstanding ~ per
cent. bonds due in 1890-S$s22,OOO, 900. This
accumulation, it insists, could and should
have been profitably avoided and the p0ssi-
prompt return of the money collected from
the people to the channels Of trade, through
the purchase of United States bonds. 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 magnify the causes for uneasi-
ness and to
until the people Of the country should i'm
perativeiy 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 emas-
culation and destruction Of that system.
The majority expresses its conviction of
the inadequacy of the house bill as rem
edial measure, for three reasons. First,
that it would probably increase instead of
reduce the revenues; second, that it pro-
vides no remedy for undervaluations, but
on the contrary invites and gives immunity
to fraud by substituting ad valorem for
edy any of the inequalities or anomalies or
cure any of the defects of the existing law.
If the foreign manufacturers, the majority
says, should through the changes made in
the cotton and wO0len schedules
SECURE A QUARTER OF THE MARKET
now held by American manufacturers (and
this it thinks very conservative estimate)
the additional duty would reach at least
s60OOO,OOO. An expansion of imports it
declares would also follow the reduction of
rates on china, porcelain, common window
glass, manufactures of iron and steel,
factures, with greatly augmented rev
enues. 1t declares that the house bill
perpetuates the existing infrmities and
creates by its Obscurities and faulty con-
structiOn doubles and antiquities which
must multiply indefinitely the present con-
fusion. A feature which most clearly in
dicates its purpose is the proposed substi-
tuition of ad val0rem for specific duties.
This could have no other result than to
change rates now protective for others
which would not protect. The use OF ad
valOrem rates
HAS BEEN CONDEMNED
by the experience Of every commercial ma
ton in the world, by the Judgment of those
who have been entrusted with the respon-
sibility Of the customs, administration and
by honest importers and merchants as well
as by intelligent political economists and
legislators of every shade of economic be-
lief. The report embodies a list of about
fifty manufactured articles from which the
duties are proposed to be removed by the
Mills bill, referring to which list the MAJOR
crete, and the list furnishes conclusive