Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-05-14
efst .coNoREss:.
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T..
ton. which the committee proposes to
reduce to Is cents. yields. he said.
revenue Of $332,000 which would be
lost by placing iron ore on the free list
as proposed by the House.
MIR. Burrows read a description OF
extensive iron ore deposits in Cuba
which he said belonged to the Pennsyl-
vania Steel Co. This body Of ore on the
north coast Of Cuba, he said. was larg-
err than the iron ore deposits of the
Lake Superior region and all condi-
tions were favorable to placing that
ore on the market at cheap cost. Sen
ator Cummins said he understood the
Cuba ore could not be taken west OF
the Alleghenies on account OF the
freight rates.
Mr.. Burrows stated that from the
Lake region to Pittsburg the freight
rate was 1928 a ton, while from Cuba
to Pittsburg the rate was $2.35 a ton.
After reading figures from advance
proof sheets OF the annual report of the
geological survey, Mr.. Burrows said:
The senator from South Dakota
yesterday told us that our iron ore de-
posts would be exhausted in 30 years
but according to the statement or the
geolcgists' survey at the rate OF con-
sumption now going on the iron ore OF
Michiga, Minnesota and Wisconsin
will last a little over 5000 years, SO
think we need not concern ourselves
now about the exhaustion of these
products 5000 years hence. He present
ed petitions from bodies of iron ore
of Michigan and elsewhere protesting
against the withdrawal of the duty on
iron ore.
Saying that if the Senate should
reject the amendment of the commit
tee On finance placing a duty OF 20
cents ton on iron or he would later
move to put that article on the free
list, Mr.. Rayner proceeded to discuss
the iron ore industry. He read extracts
from newspapers to the effect that il
the duty on iron ore should be retain
ed the act would rebound to the benefit
of the United Steel Corporation as the
owner Of the ore land and would in
jure the independent steel companies
be cause those companies must buy
their iron ore from the steel corpora
ton if they could not import it free OF
duty"
II am for revenue" declared Money.
committee. He introduced statement
giving the total value of products. and
the total wages entering into each under
each Of the schedules of the bill. He
said he presented the statement particu-
|larly because Of it's bearing on the iron
schedule, in which the labor represents
|2O.S per cent.
This bill can carry revenue enough
he said. Il am of the opinion that the
Expenditures of the government cannot
he reduced. and I will venture to predict
that the next supply bills instead of car
rying $lO32, 100000 will amount to $780,
100000. l am one man. at least, who Is for
the United States of America and next
for the consumer"
Money said that he believed the in
creased rates on iron proposed by the
finance committee We're necessary to pro-
duce sufficient revenues.
Money had read a circular calling upon
the people to write letters to senators
asking for free hides and to request 9TH
ers to do so, and characterized the system
as an endless prayer business" Now
if these people would get together on
free hides. free leather and free shoes,
Jumping them all together. might stand
for the program" said Money.
McCumber referred to the estimate of
III. j. Hill that the marketable iron ore
of this country would be exhausted in
so years. Smith, Mich. interjected that
in Michigan alone there were 1876. o00, 900 600
tons of iron ore, and if that is exhausted
at the rate Of 100000 tons year it will
take about 1000 years to exhaust the sup
ply" The iron deposits of Minnesota, he
said, were greater than those Of Michi-
gan, while those of Tennessee and Ala
bama We're very large.
Aldrich. quoting from the report of the
chief of the geological survey, said that
the estimation of iron ore in sight was
80. 900, 100000 TONS while he said would last
1900 years.
Referring to the dissensions in the DEM
ocratic party, following the issuing of
bonds by President Cleveland. Bailey de-
clared that the Republican party is now
even more rent by internal discord than
was the Democratic party at that time.
You should be admonished by this" he
said land see that your lease of poyer
is not so strong as you think it is. You
are sleeping on volcano and in the next
ELECTION there will come an eruption"
Bailey declared that in the present fl
nancial condition of the country 1t was
necessary either to maintain the high
rates of the Dingley bill or to, sell bonds.
You dare not sell bonds to pay the
Expenses of the government he shouted.
He added that the Republican admins
tration had bankrupt treasury and they
would have either to sell bonds or to al
low their obligations to go by default.
He said the trainers of both the House
and Senate tariff bill understood that He
suggested that his amendment providing
$50 600, 900 of revenue would take the bur
den of taxation from the consumers and
place it upon incomes that are abundant
Deliver claimed free iron ore would aid
Independent steel manufacturers in COM
petlng with the United States Steel Cor
pore ton. Smith, Mich. said that the steel
corporation was unde rstood to control
most Of the iron ore deposits in Canada
Beveridge said he was tired of hearing.
every time a reduction of a tariff rate
was proposed. that it would benefit some
trust. On motion OF Alilrich a vote was
taken on the committee amendment maxi