The herald., 1897-03-26

ment in the report Of the Democratic
minority that 1t offered no substitute for
the bill because 1t had no time to prepare
one, and inquired II the Democrats
thought the country would be willing to
air their theories at the cost of s1,000,-
900 day. If the bill raised the maximum
amount calculated by the chairman of
the committee 1t would yield too much
to pay the interest and principal of
bonds issued, to resist the attempt made
on the nations life by the Democratic
party and the bonds issued to make good
the deficit incurred during the last ad-
ministration. Referring to the tin plate
| industry, he contemplated that the fall
in prices in Liverpool after the enact
ment of the Mckinley law proved the
theory that the foreigner paid the du-
ties. The law giving rebates on tin
plate when exported was justifiable un-
der the old system. but was not under
the new, because It amounted to a
bounty to the Welsh manufacturer 10
compete against the home manufacturers
so 1t was abandoned. He defended the
bill against the charge that 1t fostered
trusts.
"The political economy ofAdam Smith
has long since been relegated where it
belongs" he said. "The industrial
world has been revolutionized by the in
PRODUCTION of the factory system. It is
terprises, which are recognized by the
no longer the single farmer or the sin
gle mechanic, but great aggregations
of wealth, necessary to carry on vast en-
laws Of every state" He would not say
there were not abuses incidental to the
system, but in free trade England there
were more monstrous trusts than the
United States kenw anything about, and
he cited, for example, the English steel
rail trust. and read from an English
paper concerning a new combination OF
great armament manufacturing firms.
All the cry about trusts was an exhibition
Of ignorance Of economic conditions.
Dalzell was warmly congratulated
when he concluded.
Colson (Ky., Rep.) argued in favor OF
higher duty on camel coal. He said
If the issues had been free silver alone
Kentuck's vote would have gone to
Bryan.
Steele Qnd., Rep.) a member Of the
ways and means committee. gave 1t as
his opinion that the measure was the
most complete tarif bill ever framed,
but because of the superb method pro-
vided for the collection of those duties.
While discussing the reduction of the
duty on cattle in the present law, Simp-
son of Kansas (Pop..) asked If It was
not fact that the price Of cattle had
increased since the reduction of the
duty.
1T is not fact" replied Mr. Steele.
IT insist that 1t is" persisted Mr.
Simpson. what are known as stock
ers are one-third higher than they
were three or four years ago"
| Hawley of Texas (Rep.,) treated the
house to an argument in favor of pro-
lection from the point Of the Lone Star
state, and was literally applauded by
his party colleagues.
| At o'clock Bailey Of Texas was recog-
nized to close the general debate for the
opposition, but-he stated that his voice
was in no condition to speak and an
arrangement had been reached@with Mr..
Dingley by which the house would be
asked to modify the special order so as
to allow an hour to each side to close
after the conclusion of the five-minute
| debate next Wednesday.
Dearmond Of Missouri (Dem.,)
charged that the real purpose Of the Re-
publicans was to pile up surplus in the
treasury which could be used to lock
up the greenbacks and treasury notes
and thus contract the currency so that
| the people in desperation would even
| tually be forced to accept one of their
schemes for the aggrandizement of the
| national banks.
! Couldn't the surplus be used to pay
| on the $3.50. .000, 900 Of bonded indebted
| ness contracted by q Democratic ad-
| (CAnttnuel on Paga Three.l