The San Francisco call., 1897-07-22

rises. If it turns out that when Reed is
trying to sit prices down he sits them up.
ana ii, as salety-vaiVe, he Is no petter
than that, he had better quit politics.
Tne Vice President decided the point OF
order not We'll taken. 1t was not Tor tne
presiding officer. he said, to declue
whether matter in a conference report was
new or not relevant All such questions
could be decided by Senate itself on
the vote TO accept or reject ne report;
The reciprocity sections having been
read, Teller suggested that II imitation 10
two wears of the power of he President
to enter into reciprocity treaties, was que
10 the fear of the Conference Com mlttee
that the next President might not be
trus ed.
White characterized the section as very
pecuIiara nd yerv eccentric. Making the
VALIDITY of such treaties depend upon the
approval OF Con ress was folly and nom
sense and would only be an indication OF
the men al power of Congress.
After Iur her progress had been made in
the conference report, w hlte inquired
what had become OF the Senate amend
ment to tax the transfer of stocks a nd
bonds. and was informed by Aldrich that
it had one out of the bill.
White inquired whether the Senate con-
ferees had been compelled to recede from
that amendment.
The fact that we did recede," Aldrich
said, lis evidence that we were compelled
to-"
Allison added to Aldrich's statement
the explanation that the House conferees
had urged that one class of bonds could
not be taxed without taxing all bonds.
The amendment had excepted the stock
and bonds OF building associations and
other mutual socie ties, and il was realized
that it could not be done.
Allen argued that receding from thai
amendment prove that the Republican
party WAS 'bound hand and foot, body
and soul, if it uad any soul, " to the money
power.
Morgan attributed the receding from the
amendment partly to the fact that the
stock and bonds of the sugar trust an
other trusts would have to pay tax. He
recalled the TACT that the amendment had
been offered as caucus measure and had
not received ali adverse vote in the Sen
ate. But yet" SAID he, when it went
into the conference, the men who are ex-
plotting this tariff tor he benefit of trusts,
brought their potent influence o bear. and
our nferees shrank from the amendment
and gave 1t up; and now here is the Con-
gress of the United States, an agency of
the Republican party and a conference
committee with its hands crossed and tied,
and without the ability TO rel ase itself. or
even resent this outrageous conduct
He would like 10 hear the plea made
before the conference committee against
the stamp-tax amendment. He imagined
the represe natives of the sugar and other
trusts saying to the Repu bican conferees
(no Democrat being allowed to be pres
entl You have got to stop this, or we
will ex pose you to the world in regard to
your dealings with political affairs" He
insisted that the matter could not be
passed over lightly.
At the close of Morgan's remarks the
clerk continued reading the conference
report, and after the reading had been
concluded the Senate went into executive
session, and at 6 o'clock journed. The
debate on the report will continue to-
morrow.