El Paso herald. (El Paso, Tex.) 1901-1931, 1913-09-02
TARIFF UNDER
SENATE DEBATE
Gallinger Says New England
Wants Protection; Assails
Democratic Measure.

Washington. D. C.. Sept I'm the
| senate today the tariff bills considera-
/ ton was resumed.
Senator Thompson spoke on the sugar
| schedule and announced that he would
| support the bill in every particular
| Senator Gallinger assailed the Demo-
cratic tariff bill
/ John Kirby. jr., former president Of
/ the National Association of Manufac-
turers, testified before the lobby COM
mittee that he had worked to defeat
! congressman whose views he disap-
proved.
In the house the Hetch-Ketchy bill
debate was resumed.
The banking committee began con-
sideration Of the currency bill, with
view to reporting it Monday.
The general deficiency bill was COM
pleted by the appropriations committee.
The lobby committee continued, with
NJ NJ Mulhal teStifyiug.
Gallinger DenOunces Bill.
Senator Gallinger, Of New Hampshire,
replied today to the recent speech by
lis, who declared New England was not
Disseminated against in the tariff bill
and holly assailed the textile manufac-
turers for recent labor troubles
New England believes in a protect
i've tariff" declared senator GaIlinger.
and no man who supports the bill now
under consideration, or defends men
like EttOr. Haywood and others Of their
ilk. represents in any way her views"
He assailed the Democratic bill as
whole.
Short Selling a Menace.
short selling" on the New York
stock exchange, the Chicago board of
trade, the cotton exchange and prO-
duce exchanges generally was attacked
by senator Cummins, who declared il
was a menace that ruins the industrial
strength Of the country.
Senator Cummins, backed by several
Republicans, delivered a severe criti-
cism on stock and produce exchanges.
The Cummins amendment was offered
as a substitute for the cotton futures
tax proposed by senator Clarke, Of Ar
kansas. which would impose a tax OF
one-tenth Of 1 cent per pound on all
trades in cotton for future delivery.
Senator Cummins insisted that it was
more important to restrict and pro-
hibit fictitious trading in securities
and general productions than simply
to regulate cotton trading.
The entire question OF futures
finally was referred back to the senate
finance committee for further consid-
Grafton.
Senator Cummins declared the stock
exchange should be restricted to actual
sales. "As il is now, it is not a place
for the transfer Of actual commodities"
he added TT is place where expert
enced and reckless and interruptions
men balance their wits. It is a place
where men OF great mental capacity
and audacity as well, fight a battle of
which ought to influence the price of
commodities, but every means which
may tend to affect the price of things
in which they are dealing"
VIII Submit Leading Amendments.
After three hours Of sharp debate,
the Democrats of the senate finance
committee decided to submit the most
important amendments to the tariff bill
which have not been acted upon to the
party caucus.
Inc questions Of higher rates than
originally proposed upon big incomes
and of a tax on stock exchange deals
in futures" viii be left to the entire
party in the senate
The committee refused to make a
further compromise upon the income
tax feature Of the bill and viii face
the insurgents" Of the party, deter
mined to tight for rate of 4 percent
on incomes of 500. 900 and over;
percent on S25O.0OO and over; s percent /
on 100000 and over; and Z percent on
incomes over $1,000 900 The COMMITTEES J
members realize that the insurgents are I
strong enough to put up a stiff argu- !
ment, but hope that appeal to party /
loyalty viii nrove the winning card
It was decided to submit proposed |
amendments regulating railroad rates /
On articles affected by the bill to the 1
interstate commerce commission The /
committee viii fight to keep the bill /
purely tariff measure and will go to /
all possible lengths to defeat any /