The times., 1897-07-08
THE TARIFF BILL PASSES
oontInaea from Flrst Page.

Treasury reserve amendment
MIR. stewart did not spsak as long as was
expected. His amendments main point
was the retirement OF bonds with any
surplus over the Treasury reserve be
made a statement showing that there was
now accumulated in the Treasury $40
000. 900 OF idle money. called the reserve
Mr.. Stewart also pointed out the great
cost OF maintaining this reserve, which he
put at from S9,000,000 10 $I0,c00,O0o
d year in interest and bonds.
Mr.. Vest follcwe Mr.. Stewart in Il gen
eral review of the bill This speech was
an able presentment Of the report, but
was necessarily very like the speech IN
which Mir yest~opened the debate for the
Democrats
H, made the following comparisons; The
average ad vaiorem rate under the Mekin-
ley tin was 1918: under the Wilson bin 1t
was 1894: under this bill as il came from
tie House ii was 57-4s-
Mr.. Vest said that the al valorem rate
under the present Till would be at least so;
it might he "a or 81.
Mr. Allison reminded MIR. Vest that "this
increase under the present bill comes
wholly from sugar
Mr.. Jones-Isut the Senator from Iowa
viii not deny that there are at least IA
hundred items n which the rates have been
raised over the Mckinley bill.
MT. Aliison-But they don't figure in the
ed valorem.
Mr Morgan REQUIRED to the Stewart
amendment. and noted, with Some sur
prise that Mr.. Stewart had recognized the
validity and legality of the 500, 200
reserve.
II say boldly he said, 'and challenge
contradiction, that there is not on the
statute hooks one line authorizing or JUS
tifying a SI0D, ,000, 900 gold reserve in
the Treasury. is there anybody here 10
deny it?''
MIR Morgan said that the Treasury re.
serve was the work of Secretary Sher-
man and on his own authority. Mr.. Nor
gan then went on To show what a costly
innovation the Treasury reserve had been
70 the people in interest, etc
Mr.. Jones made an argument 10 the ef-
feet that he would vote for the Stewart
amendment on the general ground that as
little money as possible should be kept
locked in the Treasury. He, with Mr.. Nor
gan, however, would not recognize the
validity of the reserve.
Mt. Lindsay opposed the amendment.
he said that there was no way out OF the
in,pHcation of the amendment recognizing
tire validity of the reserve. He thought
it was introduced to divide the councils
of those opposed to the passage Of the
tariff bill
MI Bacon said that there was nothing in
the amendment to change or modify the
present power of the Secretary OF the
Treasury as To redenlptions or purchases
Mr.. Cockrell said that Mr.. Carlisle had
stated that the only authority he had for
keeping up the reserve was the act oi
1875.
MI Cannon said that the object of the
amendment was very plain. 1t demanded
simply that the great surplus promised
by the uauff should be used in retiring
interest hearing obligations of the Govern
meat Those who opposed tie amend
ment would be found to be men who de
sired 90 retire the greenbacks and TO keep
the Government in the banking business.
MI Caffery opposed the amendment
He believed in maintaining the geld 70
serve until the greenbacks were retired
He said that the night to keep the reserve
was to be found n the acts OF 1852 an,
1875.
MI Gray also spoke in opposition to the
amendment.
Mr.. Allison moved TO lay the Stewart
amen .lment on the table.
The yeas and nays We're demanded ant
the result was yeas 3S, nays 80.
The Democrats voting with the Repub
ncans were, Caffcry, Gray, Lindsay and
Mitchell.
Mr.. Aldrich appeared in the chamber
during the roH-call, voted aye, and wa
afterwards warmly greeted by Senators.
The next yea and nay vote was on Nj
Morgan's amen dment, introduced yes
terday, and which was directed agains
the beef trust. It was lost 81 TO &c.
MIR. Caffery introduced an amendmen
proposing TO strike out cOnntervailin:
sugar duties, and proceeded to argue OF
that line, when Mr.. Platt OF Connection
called attention to the fact that ther
was no such provision in the bilI as th'
one MT Caffery wanted TO strike cut.
Mr. Caffery-oh, well: it'n co for som'
other amendment Uaughter.)
Mi Lindsay caused great deal o
amusement by the grave manner il
which he called up his amendment Il
''put a tax on wood alcohol"
Mr.. Mason-May / ask the gentleman
from Kentucky a question?
Mr. Lindsay-Make it short. ! havt
only five minutes
Mr. Mason-Is wood alcohol a bever
age?
Mr. Lindsay-I understand they car
and do drink IL in Chicago. Uaughter.l
ff-r4
went on TO advocate his amendment.
The vote was So TO 24; so the amend
ment was lost.
Mr.. Alien brought up the beet sugal
bounty amendment again, charging tina
the Finance Committee had fled incont
nentIy from its own amendment. He
had modified the provisions so that in
stead of a bounty OF IA OF d cent On th'
manufactured product there should be paiC
80 cents a ton direct to the farmer Oh bee5S
There was no debate. and the vote re
sulted-yeas -, nays 54
Mr White had inserted in the record
statement showing the ad valorem eauiva
Tents OF the Mckinley bill, the present
House bill, the Senate amended bill ant
the Wilson bill This statement was b,
schedules and bore out the statement.
made earlier in the day by Senator Vest
Mr.. Chiffon offered an amendment pro
viding that flannels and other cheap grade
Of woolen eoodsbe eputonthefreelist. Itwa
of course lost.
Mr.. White repeated his humorous re
marks about the former positions of Repuh
hcan Senators on sugar and sugar bounties
He quoted Mr.. Sherman, Mr.. Hale, MT
Hoar and others to show the inconsistenc,
of their present position. In conclusion
he said: And when this bin is passed
as l have no doubt il will be | trust tn