New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-08-15
THE TARIFF IN WALL STREET
HOW FINANCIAL MEN VIEW THE SHAME
Full ACTION OF CONGRESS.
IL THE PRESIDENT COMPLETES THE DlSiioNois
OF HIS PARTY BY SIGNING THE bill OF
SALE" TIE WHOLE STRUGGLE. THEY
SAY. WILL HAVE TO BE

TIL. nresen, 10 the country by the Democratic
House OF Representatives Of the besmrched ana
scandal-staincd Gormln Tariff bill has not peeh re-
ceived with devout gratitude. Sober second tho"Hh'
has already brought many business men WHO al
first hastily assumed that ANY biz was to be wei
coined as a removal OF uncertainty to dHerent
frame OF mind There Is disposition 10 cry 10 tne
President to veto the bill and avoid stutifyins MS
attitude toward the dsgracefu measure "h"e "
was pending In the House. In fact there are not
a few competent observers In banking ana pu''heS.
circles who express the opinion that Mr. CieVeiahd
.,I M, oct tho seal OF approval upon this shameful
barerng OF all principles for the profit OF the trusts
md monopolles Of the country 1t Is true that ths
belief is not founded on Information. Out men say
that they hardly conceive that after MS oi''r
open denuncation OF the bill and In the face OF tne
anront put upon him by the Senate hire.ings OF 'he
Havcreyer combine and the weak and cowardiy
members OF the House he can permit the Dill 10
become law
II was recognized more fully yesterday tnat 'hs
Senate bill does no, settle the tariff question
The very circumstance OF Its passage, IL there ~
any sincerity honesty honor In the party In
power. assures early attempt 10 rip out IN" pro-
visions which have overwhelmed the Democratic
leaders with the stigma Of subs"rviency 10 cor
rupng and heartioss monopoly like the sugar trust
With this endcavor would surely come fresh uh"er
ms a, other portions Of the BILL whether was IN
the line OF Free Trade theories or an attempt TO
rescue suffering industries after the effect OF the
present blow became visible. II clique OF senator's
dominated by the gIgaatc aggrrgations OF monoIo-
stlc capital which the Republican party mas III
recteI It's endeavors to destroy. can throttle Inc
Na;lona. Legislature IL, every member OF the Al
mlnlstraon and It's party bends It's knee what
safety II Is asked have the people against renewed
agitation 10 secure the more booty? Again. II -
pointed out that tho bill is loosely md unscien-
t.ncaily drawn that its operation would WORK such
injustice and damage TO many Industries that an
indignant ou,cry from the people will compel another
revision The warning OF the Democratic factions
the activity Of the Free Trade propaganda. the IN
competence recklessness and cupidty Of the Con
gress majority will put premium upon remover
mcddllng with tho question at the next session OF
Congress with no guarantee tina; even sweeping
Republican victory in the autumn would prevent a
fresh EFFORT to manipulate the tirin schedules
IMPROVEMENT MAY COME IN SPITE OF THE
Many business men think that there will be an I'M
proyemcnt from existing stagnltion and depression
In spite OF and not In consequence OF the senate
"Bln 81 Sale" II Mr. Cleveland swallows the nau-
scous dose and permits II 70 go IN" statute books
But even this outlook t. couIed by fear ~ IN"
consequences many industries which the bill pro-
poses rob 81 legitimate protection. BANK ohic'rs
are in particular socltous OF the effect OF many OF
the schedules. Those bankers who do n large New
England business say that manufacturers whom
they have consulted say that their states have been
cruelty treated AMI that even Win reduced wages
enforced labor thsr industries ar" bound 10
be retarded. and In some Instances severely injured
by the Senate bill. one prominent bank president
spoke ~ the bill by saying In reference 10 Mon
DAYS stock market: What shall be thought OF
Democratic iarlr whose chief influence IL 10 put
whisky stock up per cent In ter minutes
Tn. stock market yesterday full OF the fever
ishness which the Infamous "seitcm'nt OF the
iarin question by the Democratic Congress has n
u, ~.
vh.r. m. short" in:eres, had reached unvi-ld.y
proportions any material advances scored The
market even where II ended strong was fun OF ir-
regularity and nd"cisiOn. and commission brokers
reported thai the dealings were sl confined 10 me
professional element which has 80 long held Wall
streets business In It's contro, Many Of the trust
stocks received setbacks In spite ~ n" bonn" pre-
scn,eI TO them by the success ~ the 'perniy ara
"dlshonof" which gives III" c1unir, IN" p!l h'cheI
b, the MYSTERIOUS influence OK The Iiayem'yer mo
noroly and ~ co-conspiratorS. sugar stock wa"
enor nously active bu, M insiders took aAa1'ag"
O, the excited opening n Jai.rl0;s 10 'Jnr on
an avalanche - holdings which s"ep; IN" price I"
JOS, II rallied later To io7 bu, the iol'o"ers -
the Innnipu.aiors ~ The Trus, we're guaNhs Over
the suggestion that the iIous biz for tree sugar
might after eli be rushed through the @~nt'e u
thor. w,. 4 sufficient number Of Democratic l." III
/ hers honest AMI cean-handed enough 70 join WIN
the Republican senators In fresh assault on me
monopoly that wrings millions Of dollars 81 nuaiy
from the peov.e
A. the Custom House yesterday there was
lively rush by dealers In spirits 10 take whlskHH out
Of bond in order avoid the additional tax Imposed
hv the senate bill ~ m.ln' To enable the DIS
uliug TTus, 20 advance prices to cor"um'rS farlS
Alien 4 Co and H. Downing & 60 made thc
Withdrawals swing bond and S"oG" was paid IN
Tor duties FOR this purpose. The total payment OF
duties at the Custom House were N6l52 -. making
the heaviest receipts OF any day since last Feb
ruary The Senat, bill will go into effect after
ten days the Presiden, signs H. ana
dlstcrs all the country are fastening To WIN
draw spirits from bond n fast as they can be re-
ganred The Whisky Trust IF hoping that the
President VIII allow the bill 10 become law by de
fault a. such a proceeding on hss part would give
It ten days In which to Accumulate cheap Bood' De
fore the incr.aeei goes into effect 1t was re-
ported YESTERDAY that the Whiskey Trust IL seeking
To negotla,c n loan OF S.@DoOo with which To IA
clll,atc It's operations.
In the sugar trade there signs already OF one
affect which the outrageous, German Trust BILL VIII
produce which consumers Will not relish Kennel
sugar advanced u cent pound on NOS 10
and "a. There is general tendency 70 raise inc
price OF refined sugars. considerable advance Is
generally expected and this idea Is leading TO sprcu-
a,ion in refined sugars one Of the largest dealers
said that II was likely that refined sugars would 90
back to the prices prevailing before the Mckinney
law was passed. THIS would mean furth"r al
vance OF ? cents n pound. Under the Mckinney law
the Sugar Trust dropped the price from cents 10
81. cents Congress- on n plea that the people were
robbed has restored the tax on raw. and now the
Trust has raised the price OF sugar to an extent
greater than the protection amounted TO. and II can
raise the price further without hndrance. owing
to It's monopoly Of the business. The Trust has been
importing raw sugar free OF duty In anticipation OF
| the corrupt bargain sealed by the coward!y sur
render of the House Of Representatives. and 1t IL
esimatei to have a six months supply OF raw ma
trral on hani with new tarn which VIII Keep
| n
| Yesterday: Senators and Congressman must come
| high indeed II the purchase Of the votes on the
Gorman bin does stil leave the Trust with mill
| ion, Of money 10 distribute on Its bloaed capital
,.1rMS OLE WALL STREET RANKERS.