Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-04-17
TEXAS MISSES
Majority and Minority on Tariff.

WASHINGTON, pril I6.-Reports of the
majority and minority Of the ways and
means committee on the tariff bill were
presented to the house this afternoon
The majority report begins with the
statement of the financial situation, and
estimates a showing that the surplus at
the end of the present fiscal year will be
S92 900 900, and deducting the sum re-
quired to make payments on the sinking
fund, the net surplus OF receipts over
expenditures will be S43 ,67S 1888.
The estimated surplus of the
next fiscal year will be
S43, $50 ,522, which, with the amount of
cash now on hand and available (reach-
ing $50, 900 ,000), will justify a re-
duction of revenue II the sum contem-
plated by the bill reported $50 1885,
936, and probably more from customs,
and say $40, 1927 1873 from internal rev.
enue, or a total of ST. 1854 ,414. The
committee admits that free trade or rev.
enue duties will temporarily diminish
prices, but argue that it would be at the
expense of domestic products which
would be displayed, and then prices
would again advance and the country be
left at the mercy of foreign syndicates
responding, as it believes, to the senti-
ment of the country and recommends
tons of the president, submit what they
consider to be q just and equitable re-
vision of tariff, which, while preserving
the manner of protection which is re-
Quired for the industrial independence,
will secure reduction of revenue, both
from customs and internal revenue
sources. "We have not looked alone to
the reduction of revenue, but have kept
steadily in view the interests of our
producing classes, and have been ever
mindful of that which is due to our DO
lltical conditions, our labor, and char
acter of our citizenship. We have real
lied that reduction of duties below the
difference between the cost of labor and
production Of competing countries and
our own would result either IN the
abandonment of much Of our manufac-
turing here or the depression
of our labor. Either result would
bring disaster, the extent of which no
one can measure. We have recon-
mended no duty above the point of diff
ference between the normal cost of pro-
duction here, including labor, and the
cost of like production in countries which
seek our markets, nor have we hesitated
to give this measure of duty, even
though it involved an increase over the
present rates and showed an advance Of
per centages and an ad valorem eqiva-
lent. We have not sought to make un-
form rate of duty upon all imported ar
ticles. This would have been manifestly
unjust. -
In the case of wool, the report cites
figures in evidence of alarming decline in
production, and says that an advance of
duties has been recommended, which, it
is believed, will afford ample protection
to wool-growing farmers. While the
senate bin fixed duty on third-class wool
at &c, the committee places it at $40.
Acting upon the belief that with restric-
tions, definitions and classifications, aud
addition of port charges recommended by
the bill the difference will be fully COM
pensated. The committee believes that
the United States should produce all of
the wool it consumes. and that with
proper defensive legislation it will do so.
The annual consumption is 600, 900, 900
pounds, and with the protection afforded
by the bill the farmers of the United
States viii at early day be able to supply
this demand by the addition of loo per
cent, OF 100, 200 GOO sheep, to the pres
ent number. The bill seeks to stop
the frauds which have been 80