The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1890-07-29
YESTERDAYS INsTALLMENT.
More Senatorial EIoquence on a
Favorite Theme for Oratory.


WASHINGTON, July 2S.-In the Senate
today after some discussion a resolution was
agreed to that the Senate hereafter meet at
II a. m, and adjourn at 6p. IN.
Mr. Aldrich moved to proceed to the con-
sideration of the House bill for the transfer
of the revenue marine to the navy depart
ment and the latter motion was agreed to
yeas. 26; nays, 25 Republican Senators vot-
Ing in the affirmative were Messrs Cameron,
ingalls,, Manderson and Spooner. Mr.. Cock
rell was the only Democratic Senator who
voted in the negative. Mr.. Cockrell contin-
The tariff bill was taken up, and Mr.. Vest
addressed the Senate in opposition to it. The
advocates of high tariff taxation, he said,
were confronted by great peril. For years
the farmers had been told the home market
was all they needed, and the foreign market
was bagatele, almost worthless. Now
great change had come. Depression in agri-
cultural interests and the emphatic demands
of the farmers for something besides lying
statistics and frothy defamation caused
President Harrison and Secretary Blaine to
urge upon Congress legislation for subsidies
to steamships and reciprocity treaties with
South American states, in order to obtain
foreign market for American products. Very
little was heard now of the home market,
but great deal of the South American mar
hoO anu Luo IdsCdlly u6VlC6S ny WHICH Eng
land robbed the United States of that valu-
able trade. Mr.. Blaine now deprecated put
ting raw sugar on the free list He suggest
ed tnat the duties on sugar and wool be
utilized to secure free trade with South
American states. So at last the protection
lists were to be driven from their protection
humbug about the home market and forced
to adopt the principle of free commercial in
tercourse, which they had so long opposed
and derided. The high priests of protection
frtO m hn alf nf
free trade and yelling for reciprocity trea-
ties, subsidies to steam and sailing vessels,
Pan-American conventions, anything to
bring about free trade with the South Amer
lean states to enlarge the foreign market for
American products.
Speaking of the increased duties on farm
products and the decrease on rice, Mr.. Vest
asked why was that brutal discrimination
was made against the rice planters of the
South? There could be but one answer,
they voted the Democratic ticket. The pend
ing bill. he declared, was to repay the mill
i0nnalres their contribution to the campaign
fund OF the Republican party during the last
presidential canvass. AS the planters of the
South were Democrats, and the negroes
were regarded by the Republican managers
as political chattels, who could contribute
nothing. the duties on Northern manufac-
lures were increased, while the duty on rice
was diminished. Mr.. Vest asserted that the
consumers of the United States were being
Ll6 DI6G6QSe
of protection to home industries. No further
concealment was possible. The manufac
turers who were persistently asking for
higher duties to exclude foreign competition
were availing themselves of the monopoly
given by an exclusive tariff to charge the
people OF this country 20 to 20 per cent high
er for goods than they could sell the same ar
tlcles for in the unprotected markets of the
world. 1t was no longer protection, but
pure, simple, naked plunder.
made by Mr.. Mcpherson Friday as to the
stock Of Rhode Island Manufacturing
Company selling at $2050 per share. Mr.
MCPHERSON said he rather understated than
oyerstated It, and read list of stock sales
from iron os the e. Dry GoSds S Economist showing
sale OF STOCK OF the Amoskeag Company at
2O7o. The only mistake was he located the
factory in Rhode Island instead of New
Hampshire.
Mr.. Aldrich said Mr.. Mcpherson had made
four Measurements In regard to the matter,
the principal one being that the par value of
the stock was 100. The fact was the par value
was 1000. "-'0
Mr.. Frye added that the original par value
was no criterion, whatever, of the value of
the plant. The plant might have been quad
rupled without its par value being Changed.
Mr. Butler said he would like to have that
problem explained. On what had the plant
been increased?
=, Mr. Frye-"0n the actual money paid into
the company"
Mr.. Mcpherson fortified his original posi-
tion by quoting from Spofford's almanac.
showing large cash and stock dividends Of
numerous manufacturing companies in New
England.
After further discussion Mr.. Turpie ad-
dressed the Senate on Mr.. McPherson's res.
olution to recommt the bill with instruc-
tions to report bill to reduce the revenue
and equalize the duties on imports, in which
the average ad valorem rate of duty on all
dqtiable articles shall not exceed the average
ad yalerem war tariff rate of 1864.
lie declared himself In favor of the re-
committal Of the bill and said he would sup
port any line OF policy calculated to defeat
or delay its enactment.
The motion to recommit was defeated by a
strict party vote-yeas, 10; nays, 30.