Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1897-07-17

midas minis and make further
contribution to the rehabilitation Of
silver by extending its use in Eng
land, by increasing the legal tender Of
silver, making silver the basis Of
notes, empowering the bank Of Eng
land to use its silver reserve, and that
material assistance and strong moral
support will be given to the object
which the United States and France
have ia view. From London Ma
tional Review Of July, 1897.
The stock exchanges of New York,
Chicago and other great cities are in
quite furry over the fact that the
Republicans inserted clause in the
new tariff bill proposing to levy tax
of 2 cents per share on all purchases
of stock Of a par value of 500 or less,
and also a stamp tax upon all stock
issued, except by building associa-
tons aud organizations al similar
character. This proposition, it is be-
lieved, viii add an average Of a mil
lion dollars Month to the Govefrs
nent and is destined to be an extreme
| ~ popular and satisfactory addition to
the tariff bill
# the statement recently made by
Editor Klett of the Argentine Repub-
tic in his speech in the Cincinnati
Chamber OF Commerce is a sample OF
the arguments upon which foreign
countries base their protests against
the tariff bill now pending, these pro-
tests will be OF little avail. Mr..
Klett's statements have been analyz-
ed by some experts in Washington
and are found to be grossly inaccu-
! rate. His statement indicating that
Argentine woods swere being for the
first time placed on the dutiable list
is found to be inaccurate and untrue,
while the figures which he quotes
with reference to the balance of trade
between the United States and the
Argentine are entirely dissimilar from
those OF our Treasury Department.
An examination OF the Argentine
tariff shows also that his statements
with reference to the admission of our
products into his country free of duty
are inaccurate and misleading.
Farmers who are feeling great in
terest in the production of sugar III
the United States will not be enamor-
ed of the party which threatened even
the life of the tariff bill in order to
prevent the adoption of bounty
clause giving quarter of cent a
pound as an encouragement for the
production OF beet sugar. The Re-
publican Senators at the close of the
tariff debate proposed an amendment
paying quarter of cent a pound
bounty for the term of FIVE years on
beet sugar produced in the United
States and would have promptly
passed it but for the announcement
of Chairman Jones of the Democratic
National Committee that the pro-
position would be met with pro-
longed and indefinite discussion
which would greatly delay and per-
haps endanger the final passage of
the tariff bill. The sugar trust Is
greatly opposed to the encouragement
Of beet-sugar production in the United
States, and it will be remembered that
Senator Jones is one of the men who
framed the present low-tariff law in a
way to make the sugar trust the most
powerful and successful organization
in the United States today.
Prior to the enactment Of the Will
son law, the eastern cities and manu-
featuring establishments were suppli-
ed with coal largely from the Virginia
and West Virginia mines. When the
Wilson law was enacted, however,
coal from Nova Scotia invaded the
eastern market, driving out the
Virginia product. and compelled the
mines Of that section to find market
elsewhere. The result was that their
coal went West instead of East as it
formerly had done, and with reduced
railroad rates was laid down in the
markets Of Cincinnati, Chicago. and
other western cities at such low rates
that coal war followed by railroad
rate war was precipitated. The natural
result Of this and the reduction in
prices which followed was reduction
in the wages Of coal miners, all of
which is thus clearly traceable to the
Wilson law and its reduction in duties
on coal. Happily the new tariff bill
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