The Anaconda standard., 1895-12-24
Speaker Reed and His Friends Evolve
Scheme for Raising Money.
READY TO PUT 1T THROUGH
High Tariff and More Bonds to Be
Voted. But Democrats Object
and the Silver Men Are
In the Way.

dent Cleveland's message of appeal for
help for the treasury. One of these
| will be a tariff bill to increase the rev.
enue. the other a financial plan to
maintain the gold reserve and prevent
the alleged existing troubles with the
greenbacks. This party plan has been
perfected at two meetings of the re-
publican members of the ways and
means committee; the first was held
Saturday night, with the cooperation
of Speaker Reed and other leaders; the
second this afternoon
Although strong efforts were made
to preserve secrecy concerning the de-
tails of the plan, its features have
been obtained by the associated press
from unquestionable authority. The
tariff bill will be entitled "A bill to
increase the revenues and to prevent
deficits in the treasury" and will go
into effect when signed by the presi-
dent, If he signs it, and will remain
in effect until Aug. 1, 1898, when, by
its provisions, it's operation will cease.
Its items are as follows:
A duty on wool of go per cent of the
Mckinley law rate; a compensatory
duty on wooden goods of go per cent. OF
cent of the rate of 1890 on lumber,
which will be from 10 to 15 per cent
ad valorem; an increase of 25 per cent
from the Wilson German act rates on
cereal breadstuffs, dairy products and
live stock, including poultry; a hori-
zontal increase of Is per cent. of the
Wilson-Gorman bill on all other sched-
ules, with the provision that in no case
l - 1..A. -
rates except where the Wilson-Gor-
man rates exceed those of the McKin-
ley law.
The second bill will provide for two
issues of bonds. The first will be an
unlimited amount of per cent. five
year coin bonds to protect the gold re-
serve, with the provision that the cur
rency redeemed by the proceeds shall
not be paid out for current deficits in
the revenue, unless the expenses of
the government are in excess of the
revenues, which it is expected they
will not be If the first bill is in opera
tion. In addition the second bill will
provide for one-year per cent, treas
ury certificates of Indebtedness not to
exceed s50,OOO,0O0 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 in the sub-treas-
uries and repositories of the govern
ment. 1t is expected there may also
be added to this bill plan to increase
the currency by authorizing national
banks to issue circulation to the par
value of all the government bonds de-
posted by them with the government
as security for their notes.
The plan outlined above was not
agreed to without much reconciliation
of differences and compromises, but
the leaders are assured that the bills
will pass the house without material
opposition. having made a thorough
canvass by state delegations; and there
are strong hopes that the senate will
act upon them favorably. Several
western free-silver republicans held a
conference during the day and decided
to oppose any bill containing bond
features. Their votes will be cast
against the bond bill. but it is expected
II will receive enough votes from the
democratic stie to Offset the republican
detection. On the other hand the tar
iff bill probably will be passed by a
strict party vote. BY the same division
the house republicans 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 republicans and dem
ocrats for the bond bill, although the
supposed free silver majority OF the
senate makes the success of the second
bill much more doubtful.
There have been conferences of re-
publicans from both houses prelimin-
airy to the plan. so IL is not altogether
the product of Speaker Reed. Among
the rank and file of the house republi-
cans there Is a movement to hold a
caucus Thursday morning TO pass
upon the bills, but the leaders look
upon the caucus with distrust, for other
combinations may be formed to change
the tariff features and, once the special
interests find the door to tariff changes
open, much time is likely to be con-
sumed. To all of the members who
have come to him to-day to secure con-
sideration for the particular interests
of their constituents. Chairman Ding
ley has replied that the bill under con-
sideration was not a tariff bill but a
temporary revenue bill
The same argument has been used I'm
committee with those members who
were opposed TO the horizontal raise of
fifteen per cent on the ground that IL
was opposed TO the protection theory.
The advance on live stock and cereal
breadstuffs was secured by the efforts
Of members from the Northwest, and
is intended in part as a reply. said one
committee man, 10 the charge that re-
publican tariff measures favor the
manufacturer rather than the farmer.
How much debate viii be allowed has
not been decided. but not more than
two days at most is planned The bill
will be laid before the democratic mem