The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-07
President Mckinley Given Authority
TO Revoke MIR. CIeveIand's Forest
Reserve Proclamation.
A MILLENNIUM PROPOSITION
HOW MIR. BACON WOULD CREATE A
UNIVERSAL REIGN OF PEACE.
indianapolis Public Building Bill Re-
ported FavOrabIy to the Semitic
House to Meet BiweekIy.
special to the indianapolis Journal.

Special to the indianapolis Journal.
WASHINGTON, May 6-The belief in
growing that the tariff bill will be disposed
of in the Senate in a much shorter time
than estimated in quarters usually quoted
as well posted" and it need occasion no
surprise if it goes to conference before the
1st of July Circumstances are conspiring
to prevent dilly-dallying, and to promote
reasonably prompt action. Gold exports.
continued heavy merchandise imports and
an impatient people are some of the ele-
ments that confront the. body that is about
to enter on the formal consideration of the
measure. In fact, the Senate is finding
itself in a very unpleasant position, more
so than had been anticipated even by those
who have expressed open dislike of the
House policy to concentrate attention on
the upper branch of Congress pending the
tariff discussion and stimulates action. The
latest cause of Senate pain and sorrow is
the prospect Of a continual drain of gold
until the new law can go into effect and
abnormal merchandise imports can be
stopped. The Senate might stand with
equanimity the spectacle of an idle House
jeering at it's ceaseless discussion, but with
the sleeping House, reinforced by an i'm
patient press, stagnant domestic trade, and
further fortified by the threatening outflow
or gold the situation promises to become
acutely angushng for the apostles of un-
limited debate.
Senators are eargerly studying the daily
statistics of merchandise imports and gold
exports. The treasury situation is at pres
ent strong, and there is a big private gold
reserve in New York, but with the free
treasury gold reduced from $l55,U1, coo to
$780, 0O0,0 ,0GO by the LIST of June, as is now the
-Io xyfr,or hut fa cd
Senate leaders are preparing for squalls
and getting their cyclone cellars ready.
The Democratic senators are playing what
they think is good politics" in this par
ticular, and say they will give the Repub-
licans the right of way to agree on bill
among themselves and pass it. They are
banking on the broad proposition that the
bill, whatever it may be, will not give the
desired relief. 1t is risky and a bold po-
litical play, but they are making 1t.
Hon. r. S. Sharretts, president of the
Board of United States General Appraisers
at New York, who has been summoned TO
washington to advise the Senate committee
on finance in relation to the tariff blll was.
asked to-day for opinion in regard 10
the merits Of the amended bill as a rev.
enue producer, and in reply said: In my
opinion the bill will produce sufficient rev.
enue to meet the demands of the govern
rnent. The duty on tea will aggregate at
least $40 OOO 900, while the increase provided
for by the tax on beer will amount TO from
$12 900 TO $14000,0O0 more. The increased
duty on sugar will result in material gain
to the volume of revenue over that produced
by the act of 1894. Indeed, this increase
alone would be almost sufficient, If times
were prosperous, to produce the additional
revenue necessary to support the govern
ment, as the deficiency under that act was
due largely to the depressed conditions.
estimate the increase of the duty on sugar
over that Of the Wilson law to amount, on
the average, to about So per cent. / do not
believe that the increased rate will ma
terially affect the volume Of importations.
There will also be d large addition from
wool. 1 think the increase from this source
will exceed the possible decrease from the
manufactures of wool due to the rates be-
ing prohibitive the lower grades of
wooden mixed goods. The cotton schedule
shows very little change from the Wilson
law and the same may be said OF the
metal flax and sundries schedules. say
that the increased revenue on the articles
included in these schedules would not ex-
ceed So coo, 900.
Il think there will be a falling off on
tobacco. for the reason that while the rates
are the same as those of the Wilson bill
there is a limitation on leaf tobacco suitable
for wrappers contained in filler bales, which
will work necessarily reduction in the
revenues from this source. This change re-
duces the percentage from 10 TO per cent
This reduction will result in causing a
very large proportion of Havana tobacco
that will be legitimately imported for filler
purposes to be classified for duty at wrap
per rates and this will necessitate it's be-
ing shipped out OF the country"
Mr. Dingley. chairman of the ways and
means committee OF the House, had long
conversation with the President this after
noon, presumably about the tariff. Mr..
Dingley declined to say anything about the
subject of his visit.