The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1895-12-27
With ONE BIG RUSH
The Ways and Means Tariff Bill
Passes the House in q Hurry.
CRISP'S PROTEST SHELvED
There Was q Large Attendance on
the Floor to Witness the Smart
Bit Of Railroadlng-The Re-
port. Debate and Vote.

Washington, Dec. 2s.-In anticipation of
a field day In the house over the passage
OF the tariff bill agreed on by the ways
and means committee. great crowds were
attracted to the capitol. Most OF the
members. who had gone home for the
holidays. had hurriedly returned and the
attendance on the floor was almost as
large as on the opening session. In ad-
dition many senators were present.
Dingley to-day reported to the house
the tariff and bond bills agreed upon
by the majority OF the ways and
means committee. They were ac-
companied by the following reports:
THE committee on ways and means.
to whom was referred so much of the
presidents annual message and 30
much of the annual report of the secre-
tary of the treasury as relates to the
revenue and condition of the treasury.
and also the presidents special mess
age presenting the urgency of imme-
diate action by congress in q direction
calculated to bring relief. report: That
the committee appreciates the serious
ness of the situation and the import
anceof prompt remedies so far as con-
gress can give them.
Your committee regards the chronic
deficiency of the revenue for the past
two years and a half as the most po-
tent cause OF the difficulties which the
treasury has encountered. and an i'm
portant factor In the creation and pro-
motion of that serious distrust which
has paralyzed business and dangerous
ly shaken confidence. even In the
financial operations OF the govern
ment A serious fact which we are
called upon to confront is that In the
two and a half years that have elapsed
since July /. 1894. this government has
had an insufficiency of revenue TO meet
the current expenditures. amounting
in the aggregate to about sl34. .o0o. 600.
And, even In the first half Of the pres
ent fiscal year. the deficiency will reach
about $50. .0o0. 900. and about $4,000. 900
this present month. And UP to the
present time there Is not sufficient
ground for opining that this insuffi-
cheney OF revenue will not continue
during the remainder of the fiscal year.
and how much longer no one can safe
ly predict.
"If the consequences of such a chron-
ic deficiency were only the necessity of
borrowing money to meet the current
expenses In time of peace. events would
ing the revenue. But the consequences
are more wide reaching than that. In
sufficiency of revenue has made II
necessary to use redeemed United
States legal tender notes to pay cur
rent expenditures and thus TO supply
additional means to draw gold from
the greenbacks redemption fund-in
short, to create an endless chain.' OF
A. 49, <F flA st.aa
complains, and which has made II
necessary TO sell issue after issue OF
bonds TO replenish the rserve. There
Is good reason to believe that. IL In the
first six months OF the distrust which
inaugurated the run on the redemp-
tion fund, the treasury had been re-
ceiving revenue more than adequate to
meet expenses. 50 as to temporarily
hold the redeemed government notes.
the, disposition to present these notes
for redemption would soon have been
overcome. That would undoubtedly
have been the case II the redemption
| fund had been increased In the spring
| of 1889 and never allowed 10 fall be-
low the 500. 900. 900 minimum. And the
necessity for more revenue from the
point of view of the maintenance of the
redemption fund is taken away by the
| fact that we have $4,000. 900 OF cash In
the treasury. In addition to 500. ooo. 900
| Char goldD required for the redemption
OF the fund and twenty odd millions
required as q working balance. This
$50. .oO0, 900 represents s5o.ooo.ooo of re-
deemed United States legal tender
notes, for whose redemption we bor-
rowed $4,000. 900 In gold. II we con-
tinue to pay them out TO meet the de-
ficiency revenue. then presently they
will come back again to draw s5o.ooo.-
900 more from the treasury. which we
must supply by selling $50. 900. 900 more
bonds. Those who oppose raising
more revenue In such a situation In
| effect-whether they intend TO do so or
not-favor borrowing In preference to
| paying as we go along.
sYour committee believes that II Is
| the duty OF the house of representa-
| tives, to which body the constitution
admits the inauguration OF revenue
| bills, TO frame and pass a measure
| that will yield not far from sac. .0o0. 900.
| sufficient to put an end TO the de-
| ficIency-and TO do this without delay.
| too-leaving to others whose coopera-
| ton In required to finally place such
| Legislation on the statute books TO meet
| the responsibility In their own way.
| The presidents message. setting
forth so pointedly the seriousness OF
the situation and the necessity for the
promptest action. only emphasizes the
duty OF the house. Your committee has
not undertaken a general revision OF
| the tariff on protection lines. as the
majority hope can be done In iss7-sS
| not only because they know such tar
| in legislation would stand no chance OF
becoming q law. but also because q
general tariff revision would require
many months. and the need II more
| revenue at once.
| 'In framing the bill submitted FOL
| your consideration. IL has been neces.
sary 10 resort TO a considerable exteni
10 a horizontal rate OF duties. for the
reason that q would have requires