The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-02
FAITHFUL TO TRUSTS
REPUBLICAN CAUCUS DECIDES NOT TO
OPPOSE M0NOPOLIST KINGS.
Think Antitrust Section Unwse ant lmpolitc
Committee Provisions For Tea an 2eef
Duty to be Withdrawn.

Washington, ID. c., July 1.-Ila be-
publican Senators held what they decided
should be their last caucus on the t3riG
bill tonight. The meeting continued
for more than three hours, and vas n.a-
ductive of important results, VIII cb were
not reached without the display OF cum
siderable feeling. Among the points de-
cided were the following:
To report no antitrust amenduent to
withdraw the original Finance .Hmlnlt-
tee provisions for duty on tea nd an
increase of IL cents per barre in the
tax on beer and to provide for a tax
on bond and stock transactions.
The greater part of the time was given
to the proposition for provision against
trusts. The discussion on this question
was opposed upon the basis of a report
by the Judiciary committee in opposition
to any effort to attack q trust provision
to the tariff BILL The committee had
held meeting during the afternoon at
which the whole question was gone over
at length with other Republican Sena-
tors, including Messrs. Hanna and
Chandler. 1t was then decided that it
would be extremely difficult to secure
legislation that would be effective and
that upon the whole it was impolitic
and unwise to undertake it. A report
was made accordingly to the caucus, and
a resolution adopted authorizing the pre-
sentation of an amendment providing in
express terms for the continuance in eff
feet of the terms of the Wilson law,
which makes it unlawful to form q
trust on imported articles.
This report called out some vigorous
protests, especially on the part of the
of hrIff
to with spirit. 1t was asserted among
other things that the presentation of a
new antitrust provision would lead to
long debate, which could not be afford
ed at the present time.
The success of the proposition to re-
cede from the increased tax on beer and
the temporary duty on tea led to quite
prolonged discussion of the amount of
revenue the bill would yield. Many
Senators expressed the opinion that the
volume would not be equal to the de-
mands of the government. 1t was in
response to this view that a determine
ton was reached to provide for tax
on stock and bond transactions. The
details of this scheme were not agreed
upon, but were left to the Finance COM
mittee to perfect. There was decided
opposition to a tax on either ordinary
bank checks or mortgages.
1t appeared during the discussion of
this branch Of the subject that the com
mittee had been supplied to-day with
estimates Of the revenue the bill would
produce, made by Mr.. Worthington G.
Ford, who had given the opinion that
with an equal volume of imports the bill
would produce during the first year Of
its operation more than $100,000,O00 in
excess of the returns under the Wilson
law, for the first year it was in exist
ence. Senator Allison said, however,
that these figures were misleading, as the
imports could not be expected to be so.
large and advised his fellow Senators
on this account not to accept them as
any indication of the possibilities of the.
bill