The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-12-25
Interest on Certificates of Indebted
Made for Isolating Greenbacks.
FIGURES FROM CARLISLE
STATEMENT SHOWING EXTENT OF
OUR TRADE WITH ENGLAND.
Imports to and Exports from the
pendencies-Hoke Smiths Defense.

members of the ways and means commit
tee held another conference this afternoon
and decided on several changes In the two
revenue bills which will be introduced In the
House Thursday. The most important
change in the tariff bill was to drop the
clause putting cereal breadstuffs, live stock
and dairy products at an advance of % per
cent over the Wilson-Gorman rates, so that
these features will simply have the 10 per
cent. advance under the horizontal clause.
1t was also decided to advance carpet woods
to the Mckinley bill rates, but other woos
and manufactured products of woods will re-
main at so per cent. of the Mckinley tariff,
according TO the agreement of yesterday.
The other change was to exempt sugar from
the provisions of the clause fora horizontal
advance of is per cent. Lumber VIII remain
as was decided yesterday, at 60 per cent. of
the Mckinley duty.
In the bond bill the principal issue author
lied will be with a change of the rate of
interest authorized by the act of 1875, from
4 per cent. to 8 per cent, and these bonds
will be payable at the option Of the govern
ment after three years. The rate of inter-
est for the one-year treasury certificates of
indebtedness was raised from per cent to
3 per cent. This bill will also provide for
the temporary isolation of the greenbacks.
so that they will be held separate in the
treasury and not included with the general
assets Of the government.
Several important considerations operated
to bring about the change in the tariff bill.
There has been little doubt from the be-
ginning that sugar would be exempted from
whatever tariff changes were made, because
any attempts to alter the schedule would
,-fco 70
drop farm products and cattle from the
list of duties to be advanced viii cause
much disappointment among Western men.
but so much trouble arose over the settle
ment of these items that it was thought
best to drop their consideration. An effor.
was made to have iron and steel and their
products given an advance, but it met the
opposition of the Western men and was
abandoned, its abandonment also having
something to do with dropping the live stock
and cereal advances contemplated. The iron
and steel interests argued that they should
be equally favored with the farmers.
Members of the committee state emphatic
ally that these bills are not intended in any
way to represent Republican policies on the
tariff or finance; they are merely temporary
expedients to meet the emergency. the Re-
publicans holding the emergency Is caused
by an insufficiency Of revenues. Chairman
Dingley had conference to-day with Sec
retary Carlisle over the bills. Tomorrow
both bills will be adopted bv the ways and
means committee at a meeting which the
Democratic members will attend. They will
be presented to the House Thursday with
rule giving that day for debate on the tariff
bill, with vote at the close, and Friday
for debate on the bond bill, bringing that
| to a vote Friday night.
| plan has been drafted by ex-Speaker
| Crisp and Mr.. Bailey. of Texas. which will
be offered as a substitute for the Republican
measures to be presented Thursday. 1t is
| based upon the old bill for coinage of silver
seigniorage which was passed by the last
| Congress and vetoed by the President. but
| to this bill, modified, will be added feature
| for redemption of greenbacks. The prin-
| cipal change in the seigniorage bill will bs
| the omission Of that part which rendered
| available the seigniorage before 1t had been
| coined by the use of silver certificates based
on it. The trainers Of the bill hold that this
feature>is not necessary, because there is
| no immediate deficiency with the present
amount of silver in the treasury. The other
| feature of the plan will provide for the re-
| demption of greenbaclxs in silver whenever
| the amount OF sOlu IN the treasury 1allS
below $1Co,cOO.OO0. This may be offered as an
amendment to the seigniorage bill. as more
| votes can be mustered for the former than
| for the latter proposition. The Democrats
| who favor the plan intended, of course,
merely to place themselves on record as con-
sistent in their financial policy.
The Populist Senator's conferred to-day
| and decided TO offer a free silver coinage
bill as amendment to either tariff or
bond bill. or both. when they come over
from the House. The Populists are favor
able to a duty on wool, but against raise
| In duties on wcolen goods.
Gold Reserve Down to SOC, ,760, Jos.
| WASHINGTON. Dec. 24-Up to 1 o'clock
| this afternoon the treasury officials had
| been advised of the withdrawal for export
| of 81, 10000 in gold bars from the sub-treas-
| ury at New York. This leaves the true
| amount of the gold reserve $50, 766395.
HOKE SMITHS REPLY.