The record-union., 1897-05-26

viding for naturalizing two British
built ships to carry this grain. He de-
clared the shipping laws preventing the
naturalizing of foreign-built ships were
responsible for the humiliating condi-
ton of having no American ships.
The tariff bill was taken UP at ?
O'Clock and Vest gave notice that when
the paragraphs We're read he wz7izts
move to strike out the provisions relat-
ing to beer. manufactured tobacco,
snuff and cigars.
Mr. Aldrich then opened the debate
for the Republicans. In opening his
speech Senator Aldrich said: THE
business of the entire country is in a
state Of suspension awaiting the act
ion of the Senate upon the bill under
consideration. l believe that the anx-
iety to secure action upon this impOr-
tant measure at the earliest possible
day is shared by every member of the
Senate. 1t is my purpose to keep the
bill continuously before the Senate, to
the exclusion of all other legislative
business, until it is finally disposed of
and in this | shall expect the hearty CO.
operation Of the Senators on both sides
of the chamber. In the discussion by
the members the majority committee
will content itself with such brief ex-
plantations as may be found necessary
to the various paragraphs as they are
reached.
1T seems desira BILE that at the be-
ginning of this discussion the majority
Of the Finance Committee should pre-
sent to the Senate in detail their esti-
mates of the effect which the bill would
have upon the revenue and that they
should explain in a general way the
character of the amendments they have
suggested. The majority of the COM
mittee believe that if thorough revis-
ion of our revenue laws, such as is con-
templated by the House bill, is nee
conservative spirit, and that such a
moderate and reasonable measure
should be adopted as will insure a
much greater degree of permanence to
our tariff legislat ton Frequent re-
visions of the tariff are productive of
the long periods of uncertainty and ar
rested development The radical
change in policy in 1894 proved disas-
trous to the business interests of the
country
1T was, 1 believe, thoroughly under
stood throughout the country in the
last campaign that if the Republican
party should again be intrusted with
power any extreme tariff legislation
would not follow. 1t was believed
that in the changed conditions of the
country return TO the duties imposed
by the Act of 1890 would not be nee
essary, even from protective stand
point. 1t was with these facts con-
stantly in view that the majority of
the Finance Committee prepared the
amendments which they have submitted
for your consideration. Nothing could
be more conducive TO the return and
maintenance of real prosperity in this
country than the we'll grounded belief
that there were to be no violent changes
in our revenue policy for some years to
come. The true friends of a protec-
tive policy do not insist upon extreme
rates nor are they necessary to an
equalization. While it is true that
rates above this line are often inopera-
tive, yet it must be admitted that they
furnish needless opportunities for de-
structive attacks.
The committee believes that the re-
ductions they have suggested from the
rates imposed in the House bill. they
have not done in any instance below
the protective point, and if the bill
should become a law in the form pre-
sented by them every American indus
try would be ena bled to meet foreign
competition on equal terms: that is.
so far as this equality can be secured
by tariff legislation. The rates sug-
gested by the committees amendments
are considerably below those imposed
by the House bill and in most in
stances below those contained in the
Act of 1890
In suggesting these reductions the
members of the majority committee re-
affirm and emphasize their position as
friends of protective policy. The ul-
innate purpose of this policy is to Sc
cure, as far as this is possible, by wise
and conservative legislation. the steady
growth and development of all interests
= agricultural manufacturing and
commercial. The provisions of a tariff
law affect all these interests in number
less ways, and unless there can be sta
bility in tariff policy there can be no
certainty of prosperity, for industrial
conditions in this country with very few
exceptions do not demand a return to
the rates imposed by the Act of 1890.
The bitter contest which is going on
among the leading nations of the world
for industrial supremacy has brought
about improvements in methods and
economies in production to an extent
which was not thought possible a few
years ago. These new conditions must
be taken into account in considering the
rates to be imposed.
Without relinquishing one particle of
our devotion to the cause of protection.
we feel we have a right to ask that the
cause shall not be burdened by the i'm
position of duties which are unnecessary
and excessive. In the adjustment of
rates the committee has tried in every
instance to make them sufficiently pro
tective to domestic interests without
being prohibitive.
THE trainers of the House bin esti-
mate total revenue from the bill of
S269, 103, 40 in normal years. This
would be the largest revenue received
from customs duties, and an increase of
S113. 40. 1913 over the customs revenue of
1896 and of so, I32 254 over that of
1893. The report of the Ways and Means
Committee of the House recognizes the
fact that the anticipatory importations
will largely reduce the expected reve-
nues of the first fiscal year under the
new tariff, but after making allowance
of the importations, the report estimates
an increased income of $4,000. 900 for
the year 1898, provided the law should
/ h.a hx 1ct
We're delayed until July 1st. the report
added, that S13,000,o00 additional would
easily be lost to the public treasury"