The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-20
THE TARIFF VICTORY
CONFERENCE REPORT ADOPTED BY
THE HOUSE AT MIDNIGHT.
Democrats Kept Up the Fight for
Twelve Hours and Then the Pre-
viOus Question Was Sprung.
A SCENE TO BE REMEMBERED
OPPOSITION BATTERIES OPENED ON
THE SUGAR SCHEDULE.
Republicans Embarrassed at First on
Rise in Wall Street, but Quick
Rally Followed.
REVENUE YIELDING MEASURE
DINGLEY FIGURES BILL WILL RAISE
$225,OOO,OOO YEARLY.
Goes TO Senate at Noon To-Day, and
Expected to Pass Before Next
Saturday Night.
Republicans Embarrassed at First on
Rise in Wall Street, but Quick
Rally Followed.
REVENUE YIELDING MEASURE
DINGLEY FIGURES BILL WILL RAISE
$225, 100000 YEARLY.
Goes to Senate at Noon To-day, and
Expected to Pass Before Next
Saturday Night.
Special to the indianapolis Journal.


WASHINGTON, July 19.-By a vote of 1S9
to 11S the House, at fifteen minutes past
midnight. adopted the conference commit
tee report on the tariff bill, and tomorrow
the Senate will take up the struggle. The
scenes connected with the final House
battle were historically interesting and
more or less exciting on that account but
the proceedings were singularly free from
acrimonious or disagreeable features. The
two great parties engaged in a tug of war
over vital principle, but the struggle
leaves no personal stings. 1t was contest
between great bodies and there was no
place in the performance for trivialites.
The Sugar Trust tried to stampede the Re
publicans in the House to-day by marking
up the price of the certificates $40 a share,
hoping thereby to create the impression
that the conference report and schedule
was t1agrantly in favor of the Wall-street
gamblers. On the face of the blackboard
quotations there was an increase in the
nominal value of the entire Sugar Trusts
capitalization of about S. 000 600. For a little
while the Republicans were thrown off their
feet and up in the air, but they soon settled
down to the support of the conference COM
mittee. Mr.. Dingley, in his statement to
the House following the submission of the
conference report, gave solemn assurance
that the conference schedule was substan-
TALLY Identical to the proposition that came
from the ways and means committee origi-
nally, and that was adopted by the House
last March.
Comparisons were made by everybody,
and the absolute accuracy of this statement
was shown beyond cavil. Reports from
Wall street We're being continuously flashed
to the capital, and the news seemed to give
the utmost satisfaction to the Democrats.
Every advance in the price of Sugar stock
was gleefulIy circulated. 1t took great
nerve for the Republicans to maintain an
unbroken front in the face of these Wall
street bulletins, but as they advanced the
real significance of the performance came
TO be appreciated.
1T makes no difference" said Speaker
Reed this evening, whether Sugar stock
goes down to zero or scars to five hundred.
the fact remains that the Sugar Trust is
receiving smaller favor under the proposed
BILL that came from the conference COM
mittee, than it e--er has received, and the
country will not be long in discovering the
truth"
Similar remarks were made by all the
Republican members of the ways and
means committee and by others who Were
conversant with the facts and whose word
went with their feuow-members for
something more than mere idle declaration.
Mr.. Dingley's assertion that the original
House bill gave the sugar importers and
retiners 1919 cents differential per hun
dred pounds, that the conference sched-
ule gave them 121a cents, and that the
existing law gave them the benefit
of 221a cents differential occasioned
considerable surprise but the facts are
precisely stated. The bill as a whole
and in most of it's essential particulars is
very satisfactory to the Republicans of
both branches of Congress. 1t is declared
by them to be the most just and equitable
revenue measure ever framed, and the pre-
diction is freely made tonight that within
a year after its enactment the country will
SO recognize it. Under its practical opera
ton it is barely possible that some slight
notifications will be made in the BILL when
it reaches the Senate, but the changes will
not materially mar it's perfection.
1t may be that the opposition will muster
sufficient strength to reduce the duty on
pine lumber and restore cotton ties burlaps
and bagging to the free list, but this is not
seriously looked for. The Democrats say this
evening that they do not propose to allow
the bill to be hurried through the Senate
but the opinion nevertheless prevails that
a vote will be reached in that body by Fri
day. If this should be the case, Congress
will be able to adjourn by the first of next
week and give the country a much-needed
rest