The daily morning journal and courier., 1895-12-24
WILL INCREASE REVENUES
REPUBLICANS HARD AT WORK Tb
 BELIEVE THE TREASURY.

NHi|LEfE IdE IhEASURY. First Suggestion as to Course to be Pursued
 Was in Line of the Republican Pollcy,a n
 Duty Gn Imports-An Increase of Forty
 Million Dollars Annually Estimated
 Under the Proposed Tariff-Some of Its
 Features.
 Washington, Dec. 2S-Four hours were occupied by the, republicans of the ways and means committee this after noon in preparing measure of relief for the treasury. There was a satis- factory unanimity of opinion among the members as to the course to be pur- sued in. order to meet the deficit in na- tional finances. Naturally the first suggestion was to secure revenue in the line of republican policy, which is by 8 duty on imports. When the confer ence ended those present had agreed upon material amendments to the pres ent tariff bill which it is estimated will increase revenues about forty million dollars annually. Another measure still incomplete will also be reported at the same time looking to an issue of bonds and certificates of indebtedness bearing a low rate to meet the present emer- genctes.
 The two measures will be brought be- fore the house separately. At the cau- nf I, 11,1a l,.o e%,,x,f day night last nearly all present fa- vored one general bill which it was con- tended should stand or fall with the senate and the president upon its mer- its.
 To-day, however, the disposition was general to report two measures It was explained by some that the silver re- publicans in the house and senate would vote with their party on the tariff neas- ure, while they would be forced by the very nature of things to oppose the bond feature of the measure. It was primarily to secure the support of the silver republicans and not put them in an antagonistic position to their party that the decision was reached to divide | the propositions.
 IiiC DlllS VIII UC lGpOllCo tO tllC llO4SO on Thursday of this week and will be passed with little delay. One and pos l sibly two days may be devoted ito their consideration, but it is not improbable l that they will be passed before the close of the session Thursday, which may be prolonged to extend the time 1 for the discussion The substantial features of the tariff bill are: 1 Making a 50 per cent. rate on wool, with 60 per cent. compensatory duty on manufactured cloth over the act of 1S94
 I A 60 per cent rate of duty over the 1890 law GNTcKinley) on lumber. | A 25 per cent. increase over the act of 1894 CWdlson 'bilD on live stock, cereals and dairy products and a hori. zontai increase of 15 per cent. in the rates on all other schedules Of the law of 1894.
 In this connection a proviso is added that in no case shall the rates of duty. exceed those of the Mckinley law, ex- l cept in cases where the present rates l of duty are higher than those of the Mckinley tariff law. The proposed amendments are to remain in effect un- l til August 1, 1898.
 The increase of duty on farm pro- ducts was made at the request of mem bers representing distinctively agricul- l tural states, their contention being that the present law is ruinous to their granger constituents.
 The accompanying bill provides for 1 an issue of 8 per cent. five year bonds to protect the gold reserve in the treas ury. with a. proviso that the currency redeemed by the bonds shall. not be paid out while a deficit exists. This differs from the original purpose of the republican leaders, which was to give authority to the secretary of the treas ury to issue 8 per cent. bond as a popular loan, ito maintain the gold re- serve and for no other purpose, with a proviso that the redeemed greenbacks | shall not be used to meet current ex- penses, but be retained as long as nec- essary as part of the redemption fund: 1 authority to issue to national banks | circulating notes up to the par of the bonds deposited as security therefor and to reduce the tax, on national bank circula ton; and authority for the issue of certificates of indebtedness to meet temporary deficiency in receipts until l the revenue can be provided.
 In addition to the sale of bonds the bill will authorize the secretary to is- sue certificates of indebtedness bearing ? per cent. interest, not to exceed $50,- | 100000 in amount, to meet current de- 1 fYionaiac of tho rnuapua