Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-03-27
THE JUTE-TRUST BILL
DEALERS IN OPTIONS TO BE TAXED
TEN THOUSAND DOLLARS
Discussion in the House on the Adrniss'o"
OF Wyoming Into the Unioh-'
woman's Suffrage Clause
WASHINGTON d. c.. March 90, lSV9'
Sonata.

remove the naval magazine from LII. IL.
island. in New York hnrbor. and 70 pun
chase site for and 70 erect naval illa ~,
zine at some other point, and approplla LIZ
$4,000 for the purpose. Inc oeH"'0 f'V
| ceeded 10 consider IT.
Mr.. Hiscock moved TO amend by appro-
priating the further sum OF Sfo,OVO 40
| enable the Secretary Of the treasury W
improve Ellis island for Immigration puI11
poses. The amendment was agreed TO- anu
the Joint resolution was passed.
Mr. Edmunds moved 9n order that IIo on
and after Monday next the oenaVc si'ii
meet at II A. NJ. ..,:...
Mr.. Morgan objected TO its immediate
consideration and the matter went oNeI iii
| tomorrow.
The antitrust bin was taken up ana va va
| rious formal amendments were mace. 10
amendment offered yesterday by, ar.
Stewart 10 insert the words OF OF the
value Of money by which such cost may nc
advanced or reduced" was agreed to-hI'
! HOar withdrawing his amendment 20 IL,
which was to add the words goIu OF
silver
Mr.. Spooncr offered an amendment 70 the
| first section giving the courts authority. III
! addition TO other remedies, 20 issue WIlts
| of Injunction prohibiting and restraining
combinations from proceeding any fuItne
! in business except to wind ny their ahalfs'
and he proceeded to state the GROUNDS on
which he offered it. The legal bearing ana
the effect Of the amendment, as well as the
! bill generally. were discussed by Messrs-
| Spooner, Gray, Hoar, Stewart, Vest, hea-
gan. and Eustis.
After some remarks in reply TO some
thing said 10y Nh. Reagan yesterday Mr;
| Vest said he would not say another word
about the Constitution. He was prepared
90 Join the procession" 1t reminded
| him Of n hunting-p party that made an
| agreement that the first man who COM
planned of n dish set before him in camp
should cook for week. One OF them
/ happened 10 kill an old crow and cooked
/ IL for the mess, and every one praised II as
n most delicious morsel. The Farmers
Alliance was cooking now, and no dish
could be placed on the senatorial table that
would not be taken with gusto that
would delight Partisan gourmand. lie
would like the Senator from Ohio mir.
| Sherman to say whether he considered the
clause incorporated in the bill by Mr.. In
gallss amendment imposing tax on deal
| Jugs in options rs constitutional or not.
/ He characterized the bill as a remark
able act of legislative legerdemain." IL
sai1 TO persons engaged III dealing IN IN.
lures and options that they were LOT OF
criminal thieves and robbers, but that II
/ they would pay g 900 into the Treasury
they might 90 on rObblng.
Mr. Eustis SAID that he asked himself IN
| looking over the bill whether the Senate
was seriously engaged in an attempt TO
| impair and destroy trusts, or whe-
| thCr IL was engaged III sham bat
| tie, PLAYING the r6e Of Don Qulxote.
| What, he asked. had the Congress Of the
| United States to do with the Cotton tx
/ change of Louisiana or with the dealings
| in futures of manufactured cotton and
wOoilen goods in Boston. Philadelphla, or
! New York? If the States he said, had be-
| come SO debiltated and emascuated as 10
surrender the whole question of policy and
| Of pubic morality to Congress It would
not be done bv his vote. He regarded that
part Of the hill "a the Rrossest usurpation
| ever attempted in the history Of the Gov
ernment. Address IN Mr. lngallsh he put this
| case: Surprising to-day contract to sell
! 600 bales of cotton on the lst OF May and
/ that / do deliver them then, although l
| have not them when | make the contract,
would I he obnoxious TO the provisions Of
! tins bill?
Mr.. Ingalls,: You ought not to be.
MIR. Eustis: | assume that the Senator
| knows what amendment he has offered,
| and say that 1t does apply to Just that
case. This amendment does prohibit and
suppress the making Of contract for
/ future delivery unless the party making
| the contract is the actual owner of the
| thing sold and 10 be delivered.
Mr.. Pugh expressed his belief that the
! ingalls, amendment was entirely out OF
place and should not be incorporated IN
| the bill, but il did not interfere at all with
! the Cotton Exchange IN Louisiana or any
! where else. He regarded 1t, however. AS
| harmless a. il was useless.
Mr. ingalls, said that his amendment was
| not intended in any manner whatever to
| interfere with bargains, purchases, sales,
or the exchange of any products OF which
! the parties might be possessed or of which
! they might be the producer. or which they
! intended actually TO deliver. IL was
| directed against that gigantic modern in
vcntiOn known as dealing IN futures. "
| which was Just rs nefariOus and Just as dis
/ reputahle as the pOker-table or farO-bank.
| Mr.. ingalls, proceeded to make sarcastic
political speech, directed more particularly
! against the southern Senators, whom he
! rldicuied for raising the question Of consti-
tutiOnality. He said there had been no
! step Of progress made by the coun-
try IN the last thirty-fve wears
which had not been met by similar
objections. The Constitution, he sad,
was pcrpetually invoked by tue
narrow and rigid and liberal cOnstTuc-
tionists as an insuperable barrier against
every effort 10 benefit the condition Of the
people. The people of the United States
! did not regard the Constitution with SUI
perstitlon or awe. The knew that there
| WIS something more venerable than chnr-
ters. more sacred than constitutions; and
that was the rights and privileges which
charters and constitutions were ordained
To establish and TO maintain. Mr.. Ingalls,
then proceeded to argue that his amend
ment did not violate the Constitution in
any respect. and that there was WIDE dif-
ference between il and revenue measure.
lie affirmed that the bill was in 10 sense
whatever bill for raising revenue, and
was therefore not obnoxious to the clause
that all revenue measures must originate
/ in the Hous Of representatives,.
Mr.. Butler offered an amendment eN-
! tending the provisions OF the bill to stocks
and bonds. Adopted.
Mir. INGALLS, inquired whether stocks and
bonds were TO be taxed by the pound or
| by the bushoL.
Mr.. Butler: Gy the bushel or by the ton,
! if YOU prefer 1t.
Mr.. tustis offered an amendment extend
/ i'm its provisions TO cotton prints steel
rails. boots and shoes, lead, and lumber.
Adopted.
On motion Of Mr.. Blair an amendment
was adopted including woollen goods and
whiskey. and all kinds OF intoxicating
| drink within the provisions of the b'l.
Ar. Gray said that he did not believe IN
burning house IN order to get rid OF rats,
nor IN ovorturnmga constitutional govern
ment IN order to Get rid of some. evils
which the States were able TO deal with
! themselves. He offered as substitute tor
/ the bill m amendment prepared by Mr..
George. and said that it seemed to him 10
have very carefully considered the .ques;;
/ ton Of what legislative power conferred
by the Constitution was appropr aTely ap-
piicable so the circumstances.
MIR. Gallon moved to refer the bill and
all amendments back to the Finance Com
miitee.
Mr.. Hawley moved to amend by refer
ence 10 the Judiciary Committc with ~
structions TO report back within a fort
night. The motion to reter TO the
Judiciary Committee was ruled 70 be out OF
order. and the question was taken on Nj.
Cu'lom's motion to refer TO the FINANCES
Committe, and il was reiected-yeas, l!
NAYS, 81. Mr. Hawley then renewed bis
motion to refer the bill and amendments
to the Judiciary Committee. The motion
was rejected yeas, "a; nays, %.
lIr. Vance, Mt G;l5, moved to ADJOURN
| Negatiycd.