The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1897-07-20

|
this side is to get vote at the earliest
possible moment"
This is the earliest possible moment,
said Mr.. Bailey.
The gentleman surely does not suggest
vote now" he got no further.
licans eagerly. II suggest we wait until
sugar stock goes up little higher re-
torted Mr.. Bailey sarcastically. "It has
gone up $6 share since the agreement
was reported"
At this point Mr.. johnson, Republican
OF Indiana, appealed to Mr.. Dingley to
permit two days Of debate. The Demo
Gratis warmly applauded Mr.. johnson.
All efforts to reach an agreement having
failed, Mr.. Dingley with the statement
that he would confer with Mr. Bailey
later, opened his speech on the conference
reports. The figures and details of the
foundation OF the changes were very dry :,
but the House gave him close and earnest
attention. He took up each schedule, ex-
planning in detail the changes made
and following closely the formal Statement
given out by the committee. AS to the
surrender on the item of cyanide of
potassium, he said, it had been most un-
willingly accorded by the House and only
after the most positive insistence by the
Senate conferees.
Concerning the sugar schedule, Mr..
Dingley read from the official statement,
adding brief comments. By the new ar
rangements about $4,000, 900 increase of
revenue would be realized, as the increase
had been placed on raw sugars at the
point where revenue would be received
and at the same time the beet sugar in !.
dustry will receive substantial benefit.
Mr.. Dingley expressed regret that the
70 hod ,n% o1o
clause of the bill to stand, at least until
the bill was about to become law Had
it remained in the bill, he said, $25 ,0O0,-
600 of revenue would have been saved to
the treasury. When Mr.. Dingley referred
to the elimination of the stamp tax, Mr..
Todd, Democrat of Michigan, asked him
if he then confessed that they had
abandoned the idea Of taxing the "stock
gam blers'' Of Wall street.
"Not at all, y replied Mr.. Dingley. "We
discovered that the sales on Wall street
could not be followed. No record is kept.
The machinery of collection would be too
complex
Mr.. Dockery, Democrat Of Missouri
aroused the Democrats by interiecting
remark about the sudden increase in the
value of sugar stock in anticipation of the
enactment Of the proposed sugar schedule.
As to the question of revenue to be raised
BY the bill, Mr.. Dingley pointed out the
difficulty resulting from the large antici-
patory importations. The bill next year,
he calculated, would raise 1925, 900, 900,
SO, ,OOO, 600 more than the present law.
Over $40, 100000 had been lost in this
years revenue by the importations of
wool and sugar and other things, the
duty on which was raised in the bill, so
that he calculated that the bill this year
would raise $lS5,000,000. Mr.. Dingley
declared that there was no doubt that the
tYscxy Ii
only be ample to meet the expenditures
OF the government, but allow Republi-
can administration to begin again to pay
off the principle of the public debt,
which had been increased by the late adj
ministratpn. In conclusion, Mr.. Ding
ley received round after round of ap-
plause from his Republican colleagues by
this bill rise of prices and restoration
of prosperity:
Mr.. Wheeler, Democrat of Alabama,
opened the debate for the Democrats,
cr1ticising the bill as the most vicious
and burdensome ever imposed on the
cussed the serious effect of the measure on
the laboring and agricultural classes.
MIR. Wheeler referred to the advance on
| sugar stock in the New York market and
said this was the clearest evidence of the
benefits conferred on the sugar trust.
Mr.. Swanson, Democrat of Virginia, a
| member of the ways and means commit
| tee, to whom Mr.. Wheeler yielded a
portion of his time, devoted his attention
to assailing the sugar schedule agreed up
on by the conferees.
Mr.. Lacey, Republican of Louisiana,
| asked Mr. Swanson whether the trust had
not made great profits in 1894 by antici-
patory importations just as the trust
probably would make great profits now.
Their profits were estimated at $.5, 900, 000
Might not this account for the increased
value of the stock, he asked. If the trust
was to make SIS, ,000, 600 out of anticipatory
importations, replied Mr.. Swanson, it
was not entitled to differential.
we cannot prevent anticipatory i'm
portations," said Mr.. Lacey. "You could
do what Secretary Gage recommended, 4"
| an internal revenue tax on this sugar
which has been imported. II you want to
strike blow at the trust why don't you
| follow the advice of your Secretary of the
Treasury?''
Mr.. Swanson and Mr.. Northway. Re-
publican of New York, then had brief
controversy over the sudden boom in the
price OF sugar stocks in which the latter
contended that sugar stock had gone up
| IN sympathy with the whole market.
In concluding Mr.. Swanson declared
that when permanent prosperity at last
came back to this country, it would not
show itself first in stock gambling ex-
changes of Wall street. One Of the
greatest demonstrations of the debate oc-
CURED when Mr.. Lanham, Democrat of
! Texas, who followed, paid tribute to
| VIM. J. Bryan. The Democrats cheered
for several minutes and many of the
spectators Joined in the demonstration.
At this point at the suggestion of Mr..
| Dingley it was arranged that a recess
should be taken from 6 to s O'Clock this
evening.
Mr.. Ball, Democrat of Texas, who
secured few minutes time declared that
it was un-Democratic to advocate the
raising of revenue by duties on wool,
sugar, lumber. etc., but he denounced
Democrats who sought protection Tor tne
industries of their sections. In the pro,
lection game of grab lie said, the SCUM
and west would go to the wall. Inc worlu
sold the products of the east, but mus'
buy those Of the west and south.
| Mr.. Fleming. Democrat OF Georgia,
severely criticized the Democrats who
had voted for duties on cotton and white