Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-07-26
ALOR|CH HELD
Up AS FRIEND
OF GAMBLERS
COTTON TARIFF
TO BOOM STOCK MARKET
Senator BriStow Declares That
Rhode Island Statesman In
creased Schedule UnneceS-
SariIy for Private Interests.
fBy Morning journal sDec,a, r4asss wIrsi

fBy Morning journal Special LEASED wirsl
Topeka, Kan, July 25.--In an adj
dress here tonight United States Sem
ator j. I. Bristow, declared that
United States Senator Aldrich forced
an increase In the cotton tariff sched-
ules when the cotton manufacturers
in this country were not asking for
IT, senator Rristow charged that the
increases Ma made for the purpose
Of booming the sfoek market
1T is interesting to know" do
clared Senator Bristow, why Mr.. AL
drich insisted upon increased cotton
duties when the mill owners and man
ufacturers testified In the hearings
before the ways and means commit
tee that they were not needed. But
an examination Of stock issues Of the
United states for the year 1903 fur
nishes the reason. These increases
were not made for the protection of
any legitimate manufacturing enter
prises IN the United States, but to
boom the stock market Last year
there were Issued $90.000,000, addi-
tional cotton and wooden stocks, $64,-
600, 600 that had been previously au-
thorized but not issued and S26,000,-
600 of new stocks.
How much of this stock repre-
sented actual investment | am not
advised, but under the impression that
these increased duties on cotton goods
and the maintenance of the exces-
sive duty On woolens would give at
least temporary impetus to the
business, these stocks found a mar
ket. So these increases, therefore,
driven through by Mr. Aldrich, were
in the interests Of the stock gamblers
and spectators, and not In the inter-
ests Of legitimate manufacturing en-
terprises.
THE duty on cotton goods, valued
at more than seven cents per square
yard. was increased on an average Of
20 to 25 per cent in the face Of the
testimony Of II. r. Lippitt. represen-
tative Of the Cotton Manufacturers
association of New England, before
the WAYS and means committee, that
the cotton manufacturers did not
want any increased schedule. All
they asked was that the duties not be
reduced, but remain the same. In his
testimony, Mr.. Lippltt said:
Wen. / am not appearing mere 10
ask for an increase in the duties on
the cloth clauses Of the cotton sched-
ule. / think that while there are I'M
portations going on under them, the
importations are not SO large that we
feel justified in asking that the duties
be increased; but We would not like
to see them decreased, as we believe
that any decrease would certainly re-
suit in very much larger importations
and a great deal more of our cotton
being manufactured abroad and
shipped back as finished goods.
Continuing senator Bristow said:
This method Of tariff legislation Is
almost as reprehensible as the in
crease on the duties on lead and rub
ber
THE wooden schedules carried on
the ordinary wooden fabrics of ladies'
dress goods duties ranging from il5
To 1f5 per cent. on wooden blankets
from lis to 1866 per cent and on other
wooden clothes and fabrics used by
every family duties usually as extrav-
acant. No attempt was made to as
certain the difference in the cost OF
production on these fabrics at home
and abroad. but imperative demand
was made by Senator Aldrich that the
wooien schedule not be touched. de-
claring IL to De the keystone OF the
protective arch"
Fred s. Jackson. attorney general
Of Kansas. and progressive candidate
for congress against Congressman J.
X Miller. discussed Congressman
Mnler's effort to secure Temperance
legislation Mr. Jackson charged that
Miller was a supporter of Speaker
Cannon and that Cannon was not IN
sympathy with the efforts of the tenn
perance people Of the country.