The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-11-11
Tin Plato and Raw Materials Will Go on the
Free List. the sugar Bounty Repealed and
an Income Tax Law Probably Enacted.
Pat Yeur Money Into Good Real Estate
Is the Advice of Dir. Wanamaker.
he Thinks CAPITAL Will Not Invest in Manu-.
featuring Until The Future Is Clear-The
Indiana Gas Belt All Right.


What tho Allies of Britain May Do In the
Next Congress-Wanamakers ADVICE
Special the Indianapolis Journal
WAsHISGToN, Nov. 10-"Put your idle
money into good real estate is what Post
master general Wanamaker said to-day,
while discussing the outlook in view Of
the ID, mocratic administration. Mr.. Wanna
maker. who is prime business man and
who travelled over Indiana and some other
States. and made Republican speeches dur
ing the campaign. is one of those who be-
lleve that capital will be wary of manu-
featuring interests till it is seen what the
Democratic Congress will do in the way OF
a new tariff law. and that wherever and
whenever money is withdrawn from the
common channels of trade real estate APP
preciates in value.
The same view Is entertained by the
Hon. l.. T. Kitchener, of Indiana. aud who.
as corporation lawyer here. has had much
to do with manufacturers. FL believe that
desirable real estate will now advance in
value. as the result of the withdrawal OF
capital from manufacturing. shipping and
other business Interests said Mr.. Mich
ener to your correspondent to-day. Manu-
featuring interests will be at q standstill
until the new Congress revises the tariff.
That will be at least eighteen months FROM
this time. The new Congress will convene
thirteen months hence, and 1T cannot act
upon such an important measure as a tariff
bill under five or six months after it con-
venss. Men will be chary about lending
money on long time. and, for . temporary
or permanent investment. will put IL into
good real estate. The new tariff law de-
feated as. We will now see what the Dem
ocrats viii do in the way of cutting down
the tariff and main tanning the govern
ment."
Col. W. r. Morrison. of Illinois. one Of
the members of the Interstate commerce
Commission. and one of the most promi-
nent tariff-reformers in the Democratic
party. said. to-day. that the new Congress
would not wade rashly or wildly into the
Mckinley act and, in cutting il down.
would afford our manufacturers incident
al protection" He said the new law would
be for tho purpose of raising revenue. aud
necessarily would carry with IL protective
features. Tin-plate will go upon the free
list. Pig-iron, coal and much of the raw
material which our manufacturers con-
sumo. will te upon the free list The sugar
bounty will be repealed. and the duty lew
led for the protection of our retiners will
be stricken down, unless the planters OF
Louisiana can resist the temptation. and 10
1T is not believed that they can.
Already much Is heard about what will
be done with the pension list. The Demo-
Gratis claim that the soldiers, that il, the
Union veterans, Of course. voted the Re-
publican ticket almost solidly and, there.
fore. can lay no claim TO Democratic
charity or justice. IL 10 the belief that
there will be a new pension law passed TO
take the place OF those upon the statute
books. 1t will be n modification of the
present laws. and It is etated that the new
law wall only pension those who are
wounded or those who are disabled from
disease contracted in the service and are
psupers 1t Is stated further that the
Democrats propose To reduce the pension
expenditures more than one-half. and pos
sibiy they will turn the Pension Office
over to the War Department Ii the free
list Is To DO SO greatly enlarged. and the
tariff reduced so greatly, the expenses or
the government must be cut down. and the
pension list affords fruitful field. A d.
rect, or income tax, such as England has
at present. will be proposed, but 1t Is not
thought that it can be passed. as the Popu-
lists In both honses of Congress cannot
agree with their Democratic brethren on
this point. 1t is not believed that the 10
| pei.cent. tax on State bank issues will be
repealed. as all of the Republicans IN the
| Senate are opposed to il, and quite q num-
Der of the Democratic Senators Will not
vote for it, The Democrats in Congress,
| now IN Washington, say the State bank
blunder in their platform made them more
| trouble than all else. and that they will
| not pursue the subject The national bank
ing laws will Eot be disturbed, 1t 10
| thought. for the same reason.
| Congressman McCrearv, of Kentucky,
| one of tho foremost and most influential
| Democrats in the city. shook his head om-
inously, to-day, az be talke ed on the diver
| gencies of opinion that will prevail in the
| next Congress. and the divisions that will
| occur in efforts TO make new laws. It 10
| the evident belief of the leading Demo-
| Gratis here that nothing of consequence
| will be done in the new Congress although
| the power of the Democrats 70 tear down
| and destroy Is vastly greater than their
| ability To upbuild. Messrs. Morrison and
| McCreary both say the Democrats will 90
| At tariff revision with great care. Both de-
| clare that wool will 20 on the free list and
| that there will be as great reductions in
the duties upon farm products upon
those of the factory. One thing 10 very
certain now, and that 10 that upon the
| tariff question the Democrats will have an
easy working majority. even though the
| balance of power may rest with the two
| Alliance Senators. There are three or four
very low-tariff Republicans IN the senate
and no high tariff Democrats Republicans
| here are cougratu'atiDg their party that q
| Republican Senate viii not again per-
| form the thankless work OF preventing the
| adoption of Democratic tarin measure.
II