The Portland daily press., 1897-05-26

| ling. The trainers of the bill had under
| taken to make the duties absolutely pro-
hibitory. And this on the goods which
go into every home. 1t was outrageous
oppression the senator declared.
| AS to hides, Mr.. Vest said he warned
Republican senators that hides would go
back on the free list as result of thrifty
New England sentiment.
In conclusion Mr.. Vest said there was
no disposition to delay the consideration
of the bill. There would be no factious
opposition and no unnecessary objection.
Mr.. Cannon, Silver Republican, intro
duced an amendment for bounty on
agricultural exports and spoke briefly,
say the pending bill offered no pro
tee to agriculture staples The tariff
bill was then laid aside for the day.
At 5.15 p. m. the Senate went into exc
cutlve session and soon after adjourned.
In opening his speec Senator Aldrich
said:
| Mr.. President The business of the en-
| tire country is in state of SuSpenSio n
| awaiting the action of the Senate upon
the bill under consideration. l believe
that the anxiety to secure action upon
| this important measure at the earliest
possible time, is shared by every member
OF the Senate. I can say for Senators sit
ting on this side of the Chamber that no
time would be spent in the academic dis
cussion of the principle of protection.
| 1t is my purpose to keep the bill con-
tinuously before the Senate to the ex-
clusion of all other legislative business
until it is finally disposed of, and in this
| shall expect the hearty cooperation of
Senators on both sides Of the chamber.
In the discussion Of the bill, the m en-
bers of the majority Of the committee
| will content, thpyp Sa1vpc with c,1ch briaf
explanations as may be found necessary
of the various paragraphs as they are
reached
1t seems desirable that at the beginning
of this discussion the majority of the
finance committee should present to the
Senate in detail their estimate of what
| influence the bill will have on the revenue
and that they should explain, in general
way, the character of the amendments.
The committee believe that in the re-
auctions they have suggested from the
rates imposed in the House bill, they have
not gone in any instance below the pro-
tectiye point and if the bill should be-
come law in the form presented by
| them, every American industry would be
enabled to meet foreign competition on
equal terms; that is, so far as this can be
secured by tariff legislation. The rates
suggested by the committees amend
ments are considerably below those i'm
posed by the House bill and in most in
[ stances below those contained in the act
of 1890.
| In suggesting. these reductions the
members of the committee reaffirm and
emphasize their position as friends of the
protective policy. The ultimate purpose
of this policy is to secure, as far as this is
possible, by Hwise and conservative legis
lation, the steady growth and develop
ment of all neutrality-suspicious. maui
| featuring and commercial. The provisions
/ of tariff law affect all of these interests
| in numberless ways, and unless there can
be stability in the tariff policy, there can
be no certainty of prosperity for any
! Industrial conditions in this country
with very few exceptions do not demand
a return to the rates imposed by the act
| of 1890. The bitter contest which is going
on among the leading nations of the
world for industrial supremacy has
| brought about improvements in methods
and econc mics to an extent which was
not Thought possible a few years ago
| These new conditions must be taken into
| account.
| Without relinquishing one particle OF
our devotion to the cause of protection we
have right to acknowledge that the
cause should not be burdened by the i'm.
position of duties which are unnecessary
and excessive. In the REIMBURSEMENT OF
rates suggested the committee have tried
in every instance to make them sufficient
| ly protective to domestic interests without
being prohibitiye s
| The trainers of the House bill estimate
[ a total revenue from the bill of 1868, 104, :
no in normal years. This would be the
largest revenue ever received from Gus
Etoms duties and an increase of s113, 479, 79s
over the customs revenue of 1896 and $40,
| 1872, 254 over that of 1898:
| The report of the ways and means com
mittees of the House recognizes the fact
that anticipated importations will largely
4 reduce the expected revenues OF the first
| fiscal year under the new tariff; but after
making allowances for these importa-
tions, the report estimates an increased
income of $40, 900, 600 for the year 1898
provided the law should be passed by May
| L.. If its enactment were delayed until
June /, the report added that SIS, coo, 00t
additional would easily be lost to the
public treasury.
/ The secretary of the treasury estimates
the expenditures for all purposes for the
| fiscal year ending June 80, 1898, at $466,
946, 074.2S. The finance committee esti-
mate the revenue to be derived in the
same fiscal year from customs, if the pro-
visions Of the bill reported by them
should be enacted into law at 1882, 744, COO
This includes an estimated revenue from
the temporary duty on tea of IS, 900, 900.
| The committee estimate the receipts
from internal revenue for the same period
at $170, zoe, 900. If we add to this the
treasury estimate for miscellaneous re.
ccipts, $40, O00,0 600 and the receipts on &C
count of the post office, 1886, 227 ,076, we
have total estimated receipts for the fiscal
year 1898 of $469, 671 ,076, or an estimated
excess of receipts over expenditures for
that year of ~, 725, OPS.
In estimating the receipts for internal
revenues for this year, we have added tc
the usual receipts from this source $23
900,0 900, the estimate of the internal reve-
nue. bureau of the additional revenue
which will be derived from the increase
in taxes in fermented liquors, cigarettes,
tobacco and snuff provided by the sug-
gested amendments.
| If the estimated revenue from the duty
on tea and the additional internal reve-
nue. taxes should be omitted from the
committee's estimates of receipts there