Evening journal., 1895-12-23
TARIFF BILL PREPARED
A Revenue Measure Ready For
the Lower House.
A FORECAST OF CONGRESS- WORK


Popular Loans-No Holiday Recess Il
LIKELY to BE Taken.
TO bo an eventful week in the house. Be
fore adjournment Is reached, next Satur
day, the Republican leaders OF the house
intend that a bill shall have boen sent TO
the senate in response 20 tho demand Of
the president message OF Friday for some
means of relieving the treasury situation
and protecting the gold reserve. Tho Ro-
publican leaders determined 10 act prompt
ly as soon as tho message was sent in,
and all idea of taking a recess for the holi-
days was abandoned IN tho face Of the sit
uatlon presented.
Tho ways and means committee has or
ganizod and tho Republican mombers
hold secret meeting TO discuss the details
OF bill which In their opinion would
furnish tho desired relief.
As preliminary u was decided that
while the situation In tho senate as TO tho
fate thoro Of any measure passed by the
house should bo kept in mind tho house
must act Independently OF tho result In
the uppor branch OF congress The general
outline OF measure was practically agreed
upon, but the details have not beon COM
pleted The sentiment was unanimous
that no gold bonds should be authorized,
but that bin on tho lines OF Mr. Reed q
amendment of last year should be- drawn
up and with that should bo coupled some
tariff changes for the purpose of raising
additional revenue Last winter the Re-
puhlioans took the stand that tho menace
TO the gold reserve was caused primarily
| by the lack Of revenue to meet expenses
OF the government and that is still their
position.
Mr.. Reeds bond proposition, which the
committee will adopt, provides, FIRST for
the reduction OF the rnto OF interest on
bonds TO bo issued under the acts OF 1870
and 1875 for the purpose Of resuming
/ specie payment and protecting tho specie
| reserve from TO 3 per cont; and, second,
for "A low rate, low denomnational coin
bond, which would practically be a debt
certificate, to bo used to supply doioien-
oles in tho revenues. by the terms Of the
bill it Is probable that provisions will be
inserted to provide that tho proceeds Of
any bonds Issued under the acts OF 1870
and 1875 as amended shall 60 60 the ro-
serve and Of the latter bonds TO pay cur
rent expenses.
In this way separate account can be
kept, and tho proceeds Of bonds sold TO
maintain tho reserve cannot be used 60
pay current expenses.
Changes In the Tariff
The details OF the tariff changes will
furnish tho most difficult task In framing
tho BILL There is practical unnnimity OF
sontimont 30 FAR as can ho learned, among
the Republican mombors of tho commit
tee for duty on wool and oompensating
duties on woolens. Tho western mombors
want tho duty on wool 70 ho at least
cents per pound, but the indications are
that it will not exceed 5 cents. There Is
some discussion OF proposition to mnke
horizontal inoronso on all the schedules
except sugar Of from 10 to 90 per cent, but
that IS opposed I'm certain quarters as be-
ing not on protection limos 10 seems prob
able therefore that wool and woolens lum-
ber and various other articles will be So
locted While there U.s. it Is sald some diff
ference of opinion on this point, 10 soems
certain that thore will be a time limita-
ton OF two years or 30 months on the life
OF tho tariff provisions OF the bill The
point will bo made that IL Is an omergon-
cy measure for raising revenue and there
fore could meet with tho approval Of all
who believe that the treasury needs addi-
tional revenue no matter what the indi-
NluuNl OIlMlNnN may UI ANANiAANk IANNhNN-
i've duties The Republicans Of the ways
and means committee are now at work
perfoctlng the details OF the bill.
1t is hoped that It can be ready by Tues
day, and n 80 IL will probably be passed
under a special order Of the committee on
rules or possibly under suspension Of the
rules.
Speaker Reed and his lioutenants are
/ not disposed TO brook delay. They believe
the house should do its duty promptly.
| Aftor the bill has been passed and sent TO
the senate the question Of whether con-
gross shall romain. in session for tho re-
mainder Of the holidays will rest with that
body.
The Matter of Holiday Recess.
II the senate will proceed to consdera-
ton Of the bill the house will remain in
session, probably adjourn from day to
day, but II the senate should after tho
passage Of tho house bill show that it did
not propose TO go ahead with it and
should deliberately pass n resolution for a
holiday recess IL Is probable that the
house would aRreo TO IL. As TO tho atti-
tude Of the Democrats toward the bill, IL
seems probable that Il will be opposed by
most II not all OF the Democrats
Tho silver Democrats are not disposed
TO vote for any bond proposition, be-
cause they believe there Is another remedy
in the hands Of the exeoutiye-thor redemp-
tion OF notes in silver. They might vote
for coin bonds 90 borrow money II the exec
utive said that money was needed to
meet current expenses, but as the demand
for authority 20 issue bonds Is not based
on that ground-whioh, in fact, is dis
tinctly disavowod-their opposition to the
r bond feature Of tho bill Is certain. They
} would probably also resist the measure on
account OF the increase in the tariff sched-
ules
The administration and sound money
Democrats who might bo disposed TO vote
for a bond authorization will probably be
! deferred from voting for the measure be-
, cause of its tariff propositions So the
solid opposition of the Democrats Is look
cd for. The overwhelming Republican
&. majority insures its passage. however, be-
r yond question. 1t Is likely that several
. amendments will be offered by the Dom
z ocrats II they can secure recognition for
4 | that purposo-one to authorize the re-
s demption OF the treasury notes Of 1890 In
{ silver and another 60 coin the silver IN