Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-07-19

SUM. he said, 1t had been most unwillir gly
accorded by the House, and only after the
most positive irsistence by the Senate con-
ferees.
Concerning the sugar schedule, Mr. Ding
ley read from the official statement, adding
brief comments. By the new arrangement
about 100000 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 industry will re-
ceive substantial benefit.
Mr.. Dingley expressed regret that the
Senate had not allowed the retroactive
clause of the bill to stand, at least, until
the bill was about to become a law. Had 1t
remain ed in the bill, he said $25,OOOOOO Of
revenue would have been saved to the
treasury.
When Mr.. Dingley referred to the elm
inat ton of the stamp tax Mr.. Todd (Mich)
asked him If they then "confessed' that
they Lad abandoned the idea of taxing the
'stock gamblers of Wall street.
mot at ALL replied Mr.. Dingley. I'VE
discovered that the sales on Wall street
could not be followed. No record is kept
The machinery Of collection would be too
complex
Mr.. Cooper ONis) wanted an explanation
of the net result of the change in the sugar
schedule Mr. Dingley explained it along
the lines of the statement submitted by the
conferees. The Gifferential to the refiner.
he said, was exactly the same as the House
bill.
1ElS started q VOiley OF questions ABOUT
the sugar schedule, and Mr.. Dingley was
surrounded by half a hundred members,
who listened attentively to the answers
anG questions.
Mr. johnson Qnd) wanted to know If the
increase In the rate on refined sugar to th3
Senate rate of 1.95 cents per pound would
not increase the profits of the trust on the
anticipatory importations of raw sugars.
Mr.. Dingley explained the impossibility
of preventing these profits. In 1894 when
raw sugar was taken from the free list and
made dutiable at 40 per cent ad valorem the
importers got the benefit they did now.
Mr.. Dingley. after a calculation, affirmed
that the refiner of sugar under the present
Wilson bill had differential of - IL cents
per hundred pounds as against IL IL cents
in the pending bill, as agreed to by the
confarees.
This statement was literally applauded
by the republicans. but Mr.. Dockery (Mo)
aroused the democrats in turn by inter
jecting remark about the sudden increase
in the value of sugar stock in anticipate
of the enactment of the proposed sugar
schedule.
Would Raise 225,OOO,OOO.
As to the question of the revenue to be
raised by the bill, Mr.. Dingley pointed out
the difficulty resulting from the large an
ticipatory importations.
The bill next year, he calculated, would
raise s225, 1900, s75,O00,OOO more than the
present Law. Over $40 OOO.O0O had been lost
in this years revenues 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 S1S5 100000.
Mr.. Dingley declared that there was no
doubt that the revenue produced by the
bill would not only be ample to meet the
expenditures of the government but allow
a republican administration to begin again
to pay off the principal of the public debt,
which had been increased by the late ad-
niniStration.
In conclusion. Mr.. Dingley received round
after round of applause from his republi-
can colleagues by predicting a result of
the enactment of this bill rise of prices
and a restoration of prosperity.