Omaha daily bee., 1892-08-29
How Hollands Commerce Was Affected
by the Mckinley Tariff.
CONSUL GARDENERS VIEW OF THE SUBJECT
Merchants at First believed the Legisla-
tion Was Intended to Ruin Them
But Were Easily Convinced
to the Contrary.
WASHINGTON BURE,U OF THE BEE,
kll INAt.I, ri 1 N SrAiL,Er
DO EOohihENih "a ~
WASHINGTON. ID. C.. Aug. 2S.

looked very blue. Trade fell off for a short
time, but very soon adjusted itself to the
new conditions. The Holland merchants
were wrathy, though. They swore that
the Mckinley bill was blow aimed at their
interest with malics aforethought and intent
to ruin then. After time became Tired oil
hearing this talk and laid some figures be-
fore then. or the twenty y-scven exports
which they sent to the United States the
duty on sixteen remained unchanged under
the bill, six were lowered and five raised.
Sumatra tobacco was In the last class, as
well as high grade pickles aud cheeses.
told them that these things were uxuries
and that the people who consumed them
were of the class who would not mihd an ln-
crease in the prices If the higher tarif should
affect them.
"The TOBACCO shipments dropped off largely,
but this was partly due TO the fact that
supply sufficient for two years had been sent
here before the Mckinley bill went into
effect. Our principal exports to Holland are
oieomargarine, petroleum and grain. Ihe
grain importations from America of course
rose while expectation from the Black sea
ports were forbidden. The first three
months of 1891 showed a record OF IOO,OOo
bushels from the United States. while DUR
ing the same period in 1892 1000, 900 bushels
were shipped. When the bars were let
Down in Russia of course this rate was low
porters made connections with America
which will not be broken"
Mr. Gardner thinks that the conservatism
of the Hollanders will discourage importa-
ton Of labor saving machinery for many
years.
May See Washington's Tomb.
The Grand Army encampment committee
has made arrangements to give all the old
veterans chance to see Washington's tomb.
Where only one boat is running to Mount
Vernon now there will be eight during en-
campment week, leaving at half holr inter-
vals Their aggregate capacity is 9S5. Ar
rangements have been made also for eXcur-
sions all through the week TO the battlehelds
OF the SOUTH
Stevenson's View of Reform.
Civil Service Reform Cleveland is continu-
ally running against Axeman Stevenson's
chopping record. Last night Representative
Barnes Compton of Maryland opened the
campaign iE his district. AT the conclusion
of his spaech he related an interesting story
of Stevenson to the effect tnat he (Compton)
once called upon Stevenson 20 request the
removal of six republ poStnasterS i'll the
Fifth district. Stevenson agreed to comply
with the request and upon Mr.. Compton
remarKlng that the weather WAS very hot"
Stevenson said: ut is never too hot for me
to remove repu blican."
1t may be added that Mr.. Compton was
opposed to the nomination OF MIR. Cleveland
Result of Campaign Work.
Secretary Foster has sent long letter to
Senator Allen replying TO tho criticisms of
Representative Davis Of Kansas on the de-
partment statements on the subject OF the
currency. These criticisms were made in n
letter printed in the Congressional Record
| receive and did not see until a
few days ago. They are being used
now as campaign arguments by the
peoples party Candidates, and Senator Allen
rta. aYNlNr tn fhny
Mr. Davis says that the contention is
| mainly as to the status OF the sevcn-tnrty
notes, and that If they did not circulate as
money the treasury reports of 1865 and 1865
| should not have tabulated them, and Senator
| Logan shoIlu not have so quoted them.
Replying to this the secretary says: ~
| am unable to lind in the treasury reports OF
| 1855 and 1866 any statements, taoulated or
| otherwise, which include the seven-thlrty
notes among the items OF circulation. The
treasurer of the United States made no
mention of them in his reports of currency
| Tor 1865 and 1866. they were not issued by
! him as money, but by the secretary OF the
| treasury as a loan. The comptroller OF the
currency made q statement OF the circula-
| tion for 1865, in which he mentioned the one
| and two year notes and compound interest
| notes, though he finally deducted from his
| table all but l0,000,O0O Of them which he
| estimates as the amount in actual circula-
| lion.
.'He, too, omitted all mention OF the seven
| thirty notes. Secretary McCulloch publis he'd
| table of the paper circulation for October
| 81 1865, which looted up about S1O4, 900, 900,
| and he added to 1t $50, 600 600 as All estimate
| of the one and two year uotes and compound
| interest notes in circulation. He also omitted
| the seven-thirty notes from his table and
| from his estimate, though he expressed the
| opinion that many OF the small dcnomlna-
| tions of them were in circulation as money"
No Foundation for the Statement.
|
/ as there were only about S44, ,0OO,O 600 OF that
| denomination issued, the secretary's indef-
| nitely expressed opinion that "many of
| themn were in circulation does not afford
| very broad ground for the assertion that the
whole seven-thirty loan OF $3.50 900, 900 was
| used as money. Continuing, the secretary
! says that Mr.. Davis mas misquoted Senator
| Logan, who separated RESPONSIBILITIES from
| tho currency, ana did not assert that they were
| in circulation Mr.. Foster says that he can
| not understand the language attributed to
| General Spinner that "the seven-thirty
notes were intended prepared, issued ard
| used as money"
No statement, he says, could possibly be
more inaccurate. He quotes the circular
Offering the notes TO the public as n loan and
| SAYS that probably no loan made by the gov
| ernment was ever SO widely advertised as q
| loan. Concerning the statement that they
| were paid out as currency TO the soldiers In
the field, Mir Foster quotes Secretary Fes
| senden's reports in which he spoke Of the
soldiers who accepted these notes expressing
| their satsfa at being able TO aid thei,
country by loaning money to tho govern
| ment.
The secretary says that after careful ex
| animation he has been unable TO iind any
| discrepancy between hls statements anC
those of Secretary McCulloch.
Other Points Denied.
Then he SAYS: in one of the concluding
| paragraphs OF Mr.. Davis letter there ap
| pears the following: 10 your column headed
! Amount in Circulation. 4 sec no deductions
! are mlde for bank reserves az required by
law. Such legal reserves are AS absolutely
out of circulation as If locked up In the
treasury or uncoined in the mines. You
| make no deductions for lost or destroyed
bills during thirty years OF wear and tear oi
the greenb backs, or thirteen years OF wear
and tear OF coin certificates, nor do you de
QUOT for the wasting ana loss OF coins These
MIR. Secretary, are all items, and some oi
them very large items, which should not be
overlooked in correct estimate OF the
amount OF monev In clrcclation.'
"Mr. DAVIS is correct la stating that bank
reserves are not deducted. They are mol
deducted from any OF the tables prepared
Il 1t DO properto make this deduction foI
1891, II would be necessary 10 make similar
one for 1865 and 1866 In order TO give a true
comparison between the two periods, and II
this were done IL would be found that the
remainder would be as small relatively il
l eli In ha nnt