The Oskaloosa herald., 1902-03-20
CUBAN RECIPROCITY.
Conferees Hold Another Fruitless
Session.

stated with positiveness Friday that
the conference now in progress would
result in compromise agreement on
the Cuban reciprocity issue, probably
on the lines of 20 per cent. conces-
sion for one or two years.
On the other hand some of the
conferees representing the element
opposed to the ways and means
stated that while an amicable adj
justment undoubtedly would be
reached. there would be no con-
sent to any plan involving redrc-
ton of tariff. Representative Ford
ney, of Michigan, one of the confer
ees, takes this view and has favored
in the conference plan by which
there shall be 20 per cent. reduc-
ton of the Cuban duties on United
States goods going into Cuba, and
in return the payment to Cuba out
of the United States treasury of an
amount equal to 20 per cent. of the
duties on Cuban goods coming here.
Mr.. Fordney holds that this will give
the decided relief without involving
a reduction of duty. The plan is
somewhat similar to the rebate
proposition heretofore presented, ex-
cept that this payment is to go di-
rect to Cuba instead of to the plant
ers.
The conferees were in session Fri
day from two until five p. m. At the
close Chairman Payne, who had been
delegated by both sides to give out
a statement, said that after further
consideration of the subject the con-
ferees had come to no conclusion and
had adjourned until two o'clock this
afternoon. 1t is understood that
considerable of the time was given to
an argument by Mr.. Norris, of Min
nesota, on the constitutionality of a
rebate. Individually the members
after the meeting said that the pros
poets for an agreement were good,
but that the form of the agreement
was still in doubt, no one plan yet
having shown it's advantages over the
others. There were no votes taken
at the meeting.
Bond Purchase Discontinued.
Washington, March 15.-The secre-
tary of the treasury has announced
that he will discontinue for the pres
ent the purchase of United States
bonds of the five per cent. loan of
1904, the four per cent. funded loan
of 1907, the three per cent. loan of
190S-1918 and the four per cent. loan
of 1925, such discontinuance to take
effect at the close of business to-day.
The secretary believes that the price
M&pnds is unreasonably high, and
the effect of the government be-
permanently in the market slim
wives and helps to maintain this
price to the prejudice of national
bank circulation. Banks are said to
be retiring circulation as rapidly as
possible, presumably for the purpose
of selling the bonds nowJ IN deposit
at present prices, or for the purpose
of using them with the treasury as
security for government deposits. In
making government deposits the sec
rotary is disposed to discriminate in
favor of such banks as maintain their
circulation, and by these two meth
DDS he hopes to overcome the tend
ency to retire bank circulation.
Want Caucus on BOer War.
Washington, March Is. - Repre-
sentative Randall, of Texas, on Fri
day circulated among his democratic
colleagues of the house petition for
a caucus OF democratic members to
cons der what course should be
adopted in relation to the govern.
gment's attitude toward the Beers
The, petition was addressed to Rep
resentative Hay, chairman of the
democratic caucus, and named March
10 as the time for the gathering. The
signatures were very general on the
democratic side of the house and the
caucus probably will be held, al
though no cali has yet been issued.
Senate.
Washington, March 15.-Through-
out the session of the senate Friday
the ship subsidy bill was under COM
sideration. The measure was dis
cussed by Senators Foraker (O), Ne
Laurin (Miss) and Harris (Kan.).
Senator Foraker supported the bill.
although he admitted that he would
have preferred to build up the Amer
lean merchant marine by the levying
of discriminating duties. He was
willing, however, to defer to the
judgment of the majority that the
pending measure embodied the. better
plan. Both Senator McLaurin and
Senator Harris opposed the measure
on the ground that in their judy
ment it was not constitutional. They
maintained that it was class Iegisla-
ton which amounted to little short
of robbery of the people for the ben
eft of few Shipowners. Senator
Harris made the point that the Unit
ed States now was paying more to
the American line for the carrying
of ocean mails than was paid to for
eign ships for greater service.
House.
Washington, March 1.-THE house
Friday passed the post Office appro-
priation bill. The only amendment
of Importance adopted was one to in
corporate in the bill the provisions
of the bill to classify the rural free
delivery service, passed a few days
ago. Quite number of other bills
were passed, including three bills for
marine hospitals at Buffalo, Savan-
nah and Pittsburg. The Burleson res
olution calling on the secretary of
state for the facts relative to the
case of DR.. Thomas and wife, who de-
sired to go to South Africa to dis