The Indianapolis journal., 1895-12-24
And a $4,000, 900 Issue of One-Yenr
Two Per Cent. Treasury Certih-
Gates of Indebtedness Proposed.
INCREASE IN THE TARIFF
PROVISIONS OF THE REVENUE
RAISING PART OF THE PLAN.
Both Bills to BE Passed This Week
Chance that Senators VIII Adopt
Them-DemOcratic Proposition.

WASHINGTON, Dec. 2s.-The House Re-
publicans will introduce on the day after
Christmas and pass within the week, two
bills in response to President Cleveland's
message of appeal for help for the treasury.
One of these two win be a tariff bill to in
crease the revenue: the other financial
plan to maintain the gold reserve and pre-
vent alleged existing trouble with the green
backs. This party plan has been perfected
by two meetings of the Republican men,
bers Of the ways and means committee; the
first held Saturday night, with the co-opera-
ton of Speaker Reed and other leaders, the
second this afternoon. Although strong ef-
forts were made to preserve secrecy con-
corning the details OF the plan, its features
have been obtained from unquestionable au-
thority The tariff bill Is entitled, "a bill
to increase the revenues and prevent deficits
in the treasury" and will go into effect
when signed by the President, If he signs 1t,
and will remain in effect until Aug. 1, 1898,
when by its provisions, its operation will
cease. Its items follow:
A duty wool of so per cent. OF the Nc
Kinley law rates.
A compensatory duty wooden goods of
60 per cent. Of the Mckinley act rates.
A duty of go per cent. of the rate of 1890
lumber, which will be from 10 to Is per
cent ad valorem.
An increase OF 25 per cent. from the Will
son-Gorman act rates on cereal breadstuffs,
dairy products and live stock and poultry.
A horizontal increase of 10 per cent. from
the Wilson-Gorman rates on all other sched-
ules, with the provision that in no case
shall the duty exceed the Mckinley rates,
except where the Wilson-Gorman rates ex-
ceed those of the Mckinley rates.
TWO ISSUES OF BONDS.
The second bill will provide for two issues
of bonds. The hfstf VIII DC an unlimited
amount of per cent. iye-year coin bonds
to protect the gold reserve, with the pro-
vision that the clsrrency redeemed by the
proceeds shall not be paid out for current
deficits in the revenues unless the expenses
of the government are in excess of the rev.
enues (Which, it is expected, they will not
be if the first bill is in operation.) In addi-
ton, the second bill will provide for one
year 2 per cent. treasury certificates of in
debtedness not to exceed $50 0O0, 900 in amount
and to be disposed of at the discretion of
the Secretary of the Treasury TO meet cur
rent deficits in the revenue. These are to
be offered for sale at tlle subtreasures and
repositories of the government 1t is possi-
bill plan to increase the currency by au-
thorizing national banks to issue circulation
to the par value of all the government bonds
deposited with the government as security
for their notes.
The plan outlined above was not agreed
on without much reconciliation of differ
ences and compromises. but the leaders
assured that both bills will pass the House
without material opposition. having made
thorough canvass by State delegations. and
there are strong hopes that the Senate will
act on them favorably. Saturday nights
meeting showed a general sentiment in fa-
vor of incorporating the whole plan into one
bill, but reasons were advanced to-day
which led to the division of the tariff and
bond issues. Several Western free silver
Republicans held conference during the
day and decided to oppose any bill contain
ing bond features. Their votes will be cast
against the bond bill, but it is expected
that it will draw enough votes from the
Democratic side to offset the Republican
detection. On the other hand the tariff bill
probably will be passed by strict party
VOTE BY a similar method the House Re-
publicans hold some hopes that their plan
can carry in the Senate, mastering all of
the Republican and two Populist votes for
the tariff bill and a combination of Re-
publicans and Democrats for the bond bill,
although the supposed free silver majority
of the Senate makes the success of the Sec
ond bill much more doubtful.
LEADERS OPPOSED TO CAUCUS.
There have been conferences Of Repub-
licans from both houses preliminary to the
present plan, so that it is not altogether
the product of Speaker Reed Among the
rank and file of the House Republicans
there is movement 10 hold caucus Thurs
day morning to pass upon the bills, but
the leaders look on the caucus with dis
trust. for combinations may be formed to
change the tariff features, and once the
special interests find the doors to tariff
changes open much time is likely to be
consumed. To all of the members who have
come to him to-day to secure consideration
for the particular interests of their con-
stituents Chairman Dingley has replied that
the bill under consideration was not tariff
bill, but temporary revenue bill. The
same argument has been used in committee
with those members who opposed the hori-
zontal raise of Is per cent, on the ground
that it was opposed to the protection theory.
The advance on live stock and cereal bread
stuffs was secured by the efforts Of men,
bers from the Northwest and is intended
in part as a reply. said one committee
man, to the ,charge that Republican tariff
measures favored the manufacturer rather
than the farmer.
How much debate will be allowed has not
been decided. but not more than two days
at most Is planned. The bill will be laid
before the Democratic members of the COM
mittee Thursday morning. and be intro
duced in the House that day. with a rule
to limit debate and bring vote not later
than Friday night. On this point the re-
mark is attributed 20 Speaker Reed, This
House Is no debating school," and argu-
ments for longer debate will meet with the
response that the bills are emergency bills.
which should be passed at once IL at all.
The Democrats will oppose unanimously.