The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-01-27
FINANCES OF THE NATION.
STRIKING STATEMENTS MArE N
THE HOUSE.


Chairman Wilson Declares That
There Is no Danger of a Default
BY the Government I'm the Pay
meRt of Its Obligations - The
Treasury Able 10 stand "A Deficit
of Fifty Million Dollars and stiI
Meet It's Obligations.
Washington. Jan. 26.-Soms striking
statements regarding the financial outlook
OF the national treasury were made in
the House to-day by Chairman Wilson
of the committee Of ways and means.
They were uttered in the course of the
opening argument upon the bill TO repeal
the provision OF the tariff act which i'm
poses an additional duty Of one-tenth Of
cent a pound on sugars. molasses and
syrups imported from countries which
pay an export bounty on these articles.
Mr.. wilson. in the beginning, had read
the corresp ondence between Secretary
Gresham and the German ambassador
relating 70 protests by Germany against
the adoption of the differentiaI duty. and
TO the prohibition by Germany of Ameri-
can cattle and meat products.
OF commercial treaties. Mr.. Wilson spoke
Of Attorney General Olneys interpreta-
ton in opposition TO that Of Secretary
Greshsm's as an obiter dictum. But it
was when he came to discuss the financial
bearing Of the bill that the chairman of
the committee on ways and means aroused
the ironical laughter of the republicans
and the enthusiasm of the democrats.
He declared there was no danger that
the treasury would default in the pay
ment Of the expenditures of the govern
ment' that ii could. under present condi-
tons. stand 2 deficit of S5OO0O.O0O in re-
ceipts this year and still pay all obli-
cations; that the revenues were in
creasing end rapidly approaching a point
where they would yield surplus; and
that the present tariff bill would provide
sufficient revenues for all purposes. He
advocated the repeal of the duty because
II was right and just TO do so: because it
was . protective duty levied for the bene-
mt Of The sugar trust, and against the in
terests OF the consumers; because II would
relieve the irritation Of foreign govern
ments. and because the revenues aris-
ing from it we're not needed.
AIessrs. Meyer and Price of the Louis
lana delegation spoke in support of an
amendment proposed by the former to in
! crease the duty on raw sugar from 40 to
| 80 per cent. ad valorem
Mr.. Reed did not open the discussion for
! the republicans, but Mr.. Payne of New
! York, came forward. This fact caused
/ some speculation as TO whether or not it
meant that Mr.. Reed intended to make
| Mr.. Payne chairman of the ways and
means committee. and the republican
leader on the floor in the Fifty-fourth
/ congress.
/ Mr.. Payne contended that the adoption
| of the differential duty was not in viola
/ ton OF treaty obligations. and said that
/ if such Legislation was 10 be followed by
/ commercial war, let the war come hut
/ let congress stand for the rights of the
/ country under its treaties
The last speaker was Mr.. Warner. dem.
| of New York, who argued that the duty
sought 10 he repealed was not in any de-
/ gree essential 10 the refners Of the coun-
/ try, and that the trouble with the sugar
/ planters of Louisiana was reliance upon
/ the stimulation of the tariff for the sup
/ port of their business.
Before the repeal bill was taken up
bills were passed granting rights of way
/ through the Indian and Oklahoma terri
tories to the Gainesville McAllister and
st. Louis Railroad Company Cfor two
/ branch lines, and to the Oklahoma Cen
trail Railroad Company, and TO establish
! special rules for the navigation of har-
bors and rivers.
The Senate was requested TO return the
/ indian appropriation bill. that certain
/ clerical errors might be corrected.