Pine Bluff daily graphic. (Pine Bluff, Ark.) 1893-1942, 1894-02-19

ike. But | submit that. III Alo"
all that has been done, and Wiieh "
shall have finished our work 'oiiioi
row, the time will have fully com
when, in all fairness and reason ~
Democrat should cast vote aaSei'
to what may then be agreed upon
or calculated to delay in any lilaliiio
the measure that will then be fllaa'
before us.
| Mr.. Chairman, let us consider tip
effects of delay Gentlemen nav
tspoken OF the duty OF speedy legisla
ton in order to relieve the people az
soon as possible from the heavy our
dens imposed upon them by e&lstliie
law. This is both important anu
true. But | wish to add To 1t an
other aspect of the case, which, SO fal
as | know, has not been brought 10
the attention OF the House. 90
this also in order to assign to their
true cause certain conditions when
are unjustly charged to the character
OF our proposed legislation, but
which are properly chargable to our
delay.
Let us consider the nature and Ell
feet of a bill to reduce taxes upon I'M
ports and of Il bill to increase taxes
upon imports. To state the case is
to argue il, for the results are SELF
evident. The effect of a bill reducing
taxes upon imports is exactly the re-
verse, while pending upon its pass
age, OF that OF a bill increasing such
taxes. Also, the effect. after IFS pass
age, of bill reducing such taxes is
Just the reverse of that Of bill in
creasing such taxes.
Take the Mckinley bill, which is
the existing law, and consider its ma
ture and effect. Its purpose was de-
elared. To very large extent the
price ut which we can buy imported
articles fixes the prices at which we
can buy similar articles Of domestic
AS is too well known
to require citation, and the data is
all here beside me, importers acted
upon this timely warning of an in
crease OF duties and largely increased
their purchases abroad. They inn
ported all the goods they could at
The lower duties, in order to sell
them at Il large profit at the law
made prices after the duties were in
creased.
From tin plate up and down they
Used their own money and all the
money they could borrow, until the
)anks were strained, to stock up
With imported goods. Jobbers and
'etail merchants also desired to get,
'efore the higher duties went into eff
ect, all the imported goods they
would likely want for a long time
o come. This took large quantities
II goods out of bond, and conse-
the receipts OF the Govern |
nent We're greatly increased during
he tendency of the Mckinley bill.
How was it with the domestic
manufacturer? Foreseeing that the
Goods of his foreign competitor could
My be procured at higher prices af-
er the passage of the Mckinley bill,
le naturally wanted all the stock he
0uld produce, so as to take adyant- |
-Se OF the rise in prices. Especially
vas this true OF those who use for
ign materials in the production OF
heir goods. They would have to
manufacture at greater cost after
he Mckinley bill went into effect
han they would before it went into
fleet. The same set OF facts and the
anne line OF reasoning led buyers of
omestie goods to make large pur-
bases before the enactment of that
ill. Thus domestic manufacturing
nd domestic trade Were also stimn. /
,ted before the enactment of that
NV.
But what were the subsequent and
ornament effects of the AIcKinlcv
,w2 After its passage the storcs
Hills and warehouses were full Of
GODS. Advanced prices were asked
nd consumption was reduced All
yer the country wagee were reduced
he permanent effect of reduced con.
is reduced production and
course Il corresponding reduction |
i wages and in the consumntion nv
ne vast army OF wage earners Of tho
aired products OF our people. Tins
'e have lower wages, especially in
ne protected industries, and lower
riees for all products not protected
+ not susceptible of protection
These facts are too recent and too
-ell known to all arounl me to no
uire anything more than their state
tent. The temporary effect then &c
bill Increasing taxes upon imnorts
to stimulate trade and to incraoso
he receipts of the government The
ornament effect is to reduce wages
sduce trade, and to reduce the ra
eipts OF the Government.
Now, consider the effect OF the bin
e have under consideration. We