The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1895-12-31
A HIGH TARIFF BILL PASSED


Baltimore Sun.
In response to the presidents message
asking legislation to retire the greenbacks
and Sherman notes, which constitute the
"endless chain" that conveys the treas
ury's gold TO the hands of exporters and
creates widespread financial disorder and
distrust, the republican majority of the
house yesterday passed under whip and
spur tariff bill to increase the govern
menrs revenue. The president and Sec
rotary Carlisle have shown that no in
crease OF revenue is needed. since the
treasury now contains "A balance of 500
0O0,0O0. which is available and will amply
meet all necessary expenditure till the in
craas'ng revenue balances current ex-
penses. Neither a largely Increased reve-
nue. nor a large surplus. they have shown,
would be effective to prevent the appre-
hension Of business men, since IT Is not
the quantity of our money but it's quality
that excites sollcltude. There Is no fear
that we shall not have dollars enough
of some kind or another, but there is
fear that If the gold reserve Is not main
tanned the treasury Will cease to be able
to keep all forms of currency at par with
gold The president and his secretary
nave simply expressed the simple conyic-
ton of all capable financiers in asserting
That the SiS5, coo 600 of outstanding treas-
ury notes are the cause of .ur troubles.
any may there can be no permanent re-
llci until the treasury is authorized to re-
ure them in exchange for bonds
IN the race of these facts the house has
pissed iarln bin increasing the burden
year, under the pretensc that more revn-
hue and larger surplus in the treasury
vii VIII prevent the depletion of the gold re-
l)inyiey. the cha rman of the WAYS and
means committee, announced that tho
present bill is an tnstallment--that after
Two ana half years II is to be replaced
by new act. of fully "protective'
CHARACTER, that will restore substantially
p re MS1 ,sSG rates hs voted down by the
by !!s author. with grim humor, ''reve-
my lneasure, though It Increases largely
hi nrs1 .u,es' are protective. The
10 per cent up'n existing duties on ali the
schedules but two-wool and lumbor IN
un,washed wool a duty Of 40 per cent adj
taxed IN proportion, on wooden gonds Of
an sorts including carpets. there Ia to be
~ 'arne ,hcres - From wool and woolens
as nuch as s20D0.000 of revenue is To- h."
| utrlVed. IL is expressly stated thar tho
polsct OF the COMMITTEES In framing the
r MI W,th y, rates no higher than these is
iiherey 10 secure the approval of those
IN official places whose oo-operation is
essential meaning tho presldent-but ms
80 Nlt HItsluepcy Is captured dutiaa
| WIN be nut at the top notch of protontia,,
~ Is intmated that President Cleyeiand
can not refuse to sign the blll. since lin
| sucn an eNlgency as now exists tho ul,hIi"
necessity must control ''"''o
the republicans, It Is evident. In franz
ing me present tariff bin are merely
ing their platform for 1886 Thov hnve 10
! .Npectat Ton that their bin will get through
sns senate or IL they expect 1t to PASS tbo
senate they are wcll assured thar tho
president viii veto It. II is not I'm he
| view what a financial b'Il should no mi M
as tariff bill 1t is sure 10 be ldisap-