The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1913-08-16
SENATOR WARREN
HITS TARIFF BILL
Charges Democrats With "Hedg-
ing" and Doubling Success
of Their Program.
WILL INCREASE GOLD RESERVE
Owen Of Oklahoma introduces Bill for
EniaroIns Amount In Redemption
Division Of Treasury and RstIr-
Ing 1 wo Per Cent. Blonde.

Washington, Aug. 8.-Charg1ng the
Democrats with hedging" and with
being doubtful OF the success of their
tariff program, Senator Warren Of Wy
oming criticised statements made by
Democratic senators to the effect that
Republican senators were In conspir-
acy to bring about hard times, during
the consideration or following the pas
sage Of the pending tariff bill.
Il myself would many times rather
see the present dominant party retain
the reins Of government for long
time, with continued prosperity equal
to that which the nation has enjoyed
under Republican rule than to again
endure the hardships of the period ISL
lowing the election of 1892 and con-
tinuing until 1885," said Senator War
rem.
Fear for Country's Industries.
Senator Warren said that he had
received thousands Of letters during
the last three months containing ex-
pressions Of fears for industries Of
this country should the Democratic
tariff bill become law. He referred
to promises made In the past with ref
erence to placing articles on the free
list and the reduction Of prices to the
placed on the free list, with promise
that shoes would be cheaper. Instead.
he said, the prices of shoes had In
creased. He predicted this would be
the case in the finished products where
other raw materials are placed on the
free list. Free wool, he said, would
not result In cheapening clothes to the
consumer. but would merely harm the
farmer producing wool.
Senator Warren declared that the
farmer had been woefully discriminate
ed against In the pending tariff bill
He pointed ost that under the protec'
tive tariff of the Republicans the farm
ers had flourished. He showed that
in the 20-year period from 1890 until
1910 the average net ownership Of the
farmer had increased In this country
from 1920 to $4.574.
Would Increase Gold Reserve.
A bill providing for increasing the
sion of the treasury, retiring the two
per cent. bonds and unifying the cur
rency issues of the United States was
introduced in the senate today by Sen.
ator Owen OF Oklahoma, chairman oil
the banking and currency committee
The measure provides that the sec
rotary of the treasury Is authorized
and directed. as gold certificates come
into the treasury or subtreasuries OF
the United States, to have them can
celed and the gold represented by
such certificates transferred to the
redemption division. In place of these
Cancelled gold certificates the secre
tary is to issue treasury notes of the
United States, redeemable In gold al
the treasury.
Secretary Can Purchase Bonds.
The secretary Is also authorized In
his discretion. when requested to dc
SO by the national banks having out
by two per cent. bonds, to purchase
these bonds at par 1and accrued inter
est and to assume the redemption al
par of the bank notes secured by
these bonds, charging the amount Of
the notes against the proceeds of the
two per cent. bonds and paying the
balance In cash to the national banks
These two per cent. bonds sha1r Then
be Cancelled and like amount of 20
year three per cent. bonds shall be
placed in the redemption division and
the annual interest on them credited
to the funds of the redemption divi
sion.
When the national bank notes, the
redemption Of which has been as
sumed, shall come into the treasury
they shall be Cancelled and retired and
In place of these notes the secretary
OF the treasury shall issue treasur,
notes In like amount.
The bill was referred to the commit
tee on banking and currency.
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