The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-25
millionaire sibIey VIII Furnish the
sinews and "YOung Mr.. Bailey" Will
Attend to the Shouting.
ARGENTINA MAY RETALIATE
HER PRESIDENT CLOTHED WITH
POWER TO BEGIN A TARIFF WAR.
Treasury Gold Reserve Now S1GO,267,-
463-,sHorixontaI BiIP Morrison
More OutspOken than Polite.
sDeolar to the indianapolis Journal.

Special to the indianapolis Journal.
WASHINGTON Dec. 24-The visit or
young Mr. Bailey, of Texas, to the home
Of "Joe" Sibley, of Bradford, Pa. is re-
oarded as an event of considerable politi-
cal significance and Importance, Sibley is a
millionaire free-silver statesman and mas
hopes of being William Jennings Bryans
running mate three years hence. He IS ac-
credited with a willingness to contribute
heavily in financial way to the obstruc-
ton of the programme of Eastern Demo-
Gratis which is to shelve Bryan and revise
the Chicago platform, and the meeting of
Sibley and Bailey is supposed to have
direct bearing on this matter. Bailey while
not a worshiper of Bryan and antagonistic
to many of his vagaries, believes the
Democracy can win under the Bryan flag
in 1900, and that such an outcome will be
a signal victory for the younger and more
progressive element of the party, as OPP
posed to the Eastern mosSbackS, who
also compose the sound money Democracy.
This latter faction is already organizing to
control or disrupt the organization and
under the direction of Flower, Grant.
Whitney and Croker, of New York, has
succeeded In creating something of panic
among the Western and Southern leaders.
The treasury gold reserve reached $780,
267, 463 to-day, which is high water mark
to date The net balance, aside from gold,
is SIG ,858304, which brings the grand total
up to 1927 1858. BY the time the extraor-
binary disbursements which to be
made about the LIST of January are out of
the way the total treasury balance will be
down to nearly two hundred millions, which
would reduce the working balance above
the gold reserve to about forty millions.
The action of the Argentine Chamber of
Deputies in comforting powers on the pres
ident of that republic to adopt measures of
tariff retaliation against other countries
endangers American trade to the amount of
five or six million dollars annually, our
export traffic to that country ranging
within those figures. Our imports from Ar
gentine have of late years been running
from eight million dollars to ten
million dollars. The largest items
of Argentine exports into the United States
have been hides and wool. In fact, these
two articles have comprised practically all
of the American importations from our
South American neighbor. The Dingley
tariff bill played havoc with Argentina's
sales Of hides and wool, and out importations
have been very small since the new tariff
law went into effect. This loss of business
has been keenly felt in Argentina and the
action of the Chamber of Deputies yester-
day was aimed directly at this country.
The sales of merchandise of our own pro-
duction to the Argentine Republic are d.
versifed. We have been selling Argentina
more oil and lumber than anything else, an
nual shipments of these articles running
from $l.OO0,OOO to $1,6OO,OOO. combined. OF
wagons and carriages the United States
ship annually about 600 worth; bicycles,
$4,000; cotton goods, from 100000 to $225. 900;
iron and steel manufactures, $l500OO:
watches and clocks, $4,000; books SIS 900:
sewing machines, $4,000 to S100, 900; naval
stores, $4,000; electric machinery. $125
furniture, $l50,0O0. 1t is In the power of the
President of Argentina to impose retalia-
tory tariffs which will bar all these goods
try. The total amount of our trade with
Argentina is very small item In our for
eign commerce of two billion dollars an
nually, being rather less than per cent.
Next week. on the expiration of his second
term of five years (ten years in alp as
chairman of the Interstate-commerce Com
mission. Coz w. r. Morrison will return to
Illinois to live, He has been in public life
nearly fifty years and does not expect to
get back into the service again. His dis
trict is politically against him, which makes
his return to Congress very unlikely. The
colonel Is a very free spoken gentleman
and to-day, when he was asked If he in
tended to make his home in Washington,
said:
What the - do you suppose man
wants to live in Washington for when he
has no business here? | am going back
homo to live. Where else do you suppose a
man would go?'
Randolph Tucker, of Washington. once
said to Mr.. Morrison: Colonel, If you were
to be President there would be more honesty
and less manners in the White House than
ever before in the history of this Republic.
This remark made Colonel Morrison very
angry at the time because he fiatters him.
self that he is courtly and dignified.