The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-12-26

or the United States at the Treasury De
partment, and at the subtreasuries and
designated repositories OF the United States,
and at such postoff1ces as he may select
And And such certificates shah have like quail,
said resumption act for the bonds therein
aH antnorized, ,,d And the proceeds tnereof snaii
this section and for no other"
THE TARIFF BILL.
The tariff bill is entitled: "a bill to tenn
porarily increase revenue to meet the ex-
penses Of the government and provide
against deficiency. It reads:
''Bc it enacted. etc. That from and after
the passage OF this act, and until Aug. /,
1888. there shall be levied, collected and
and 2, as defined In the act hereinafter
cited, approved Oct, ], 1890, and subject to
all tlla conditions and limitations thereof.
and on all hair Of the ecamel, goat, alpaca and
other animals, except as hereinafter pro-
vided, and on all noils, shoddy. garnetted
waste, top waste. slubbing waste, rowing
waste, ring waste, yarn waste and all 9TH
er wastes composed wholly or in part of
wool, and on all woolen rags, mungo and
fiocks a duty equivalent to 60 per centum
of the duty imposed on each of such arti-
cles by act entitled An act to reduce
the revenue and equalize duties i'm
ports, and for other purposes approved
Oct. 1, 1890. and subject to all the. condi-
tions and limitations of said act; and on all
woods and Russian camers hair of Glass
1880. and subject to ali the conditions and
limitations thereof there. shall be levied,
collected and paid the several duties pro-
osd And Psraeraph ey aee paio 2s Of Schedule X and
also Paragraph 6S5 in the free list, In an
act entitled An act to reduce taxation: TO to
for other purposes which became law
Aug. q. 1894, are hereby suspended until
Sec 2. That from and after the pas
sage of this act and until Aug. /, 1898, there
shall be levied, collected and paid on all
imported articles, made in whole or in part
of wool worsted or other material de-
scribed in Section Of this act except as
hereinafter provided. 60 per centum OF the
posed on each Of said articles by an act
entitled AN act TO reduce the revenue and
equaize the duties on imports s sS saa and
subject to all the conditions and limita-
tiors thereof In addition TO the ad valorem
duty now imposed on eaca t OF uca salu taIa
ton, to provide revenue for the govern
ment and for other purposes wnlcn pc
came a law Aug. 27, 1894; and on carpets,
covers hassocks, bedsdes, art squares ana
other portions of carpetings, MADE In wnole
ward duty imposed on each of said articles
by said act, approved Oct. i, lSSV ana SUD
feet to all the conditions end imitations a,,9,,
thereof in addition to the ad vaiorem guy
imposed on such ARTICLES by said act wnicn
became a law Aug. "a. 1894
"Sec s.That from ana after eao tne pa passssI sSsI
OIL in,s l;ed , c,oIiected ana paid on all imported
lumber and other articles designateo III
paragraphs ga to ss inciqs,ve, tsNf,on 1i to pro-
vide revenue for the government ana lor
other purposes which became q, law aug;
27. 1894 duty equivalent to 90 per cen,. OF
the duties imposed on each of such articles
hv AM act entitled An act TO reduce tne
revenue and equalize duties on imports Isnn Sna
| for other PURPOSES approved OCT. 1, io5V,
ana subject to ell conditions and limitations
of said last named act. but pulp WOOD wood snail maj
be classified as round unmanuiacsureu .ii- a.
| her exempt from duty; PROVIDED, tnat III
| case any foreign country shall impose an
| export duty on pine. spruce. elm, or otner
logs or on stays pOlos snnsne to pe the
| United States from such country, then the
| duty on the lumber and other articles men
toned In said paragraphs o.f 10 DSs, iista sbaI,
| be the same as fixed by the law enforced
| prior to 1890 a
| of this act and until Aug ]. 1898, there snail
| he levied, collected and paid on all imported
| articles, mentioned In schedules "A. b, = ID,
| n fs N l. J. K L, VI and of an act en-
| tsfled AN act to reduce taxation, to provide
| revenue for the government. and Tor otner
purposes which became caw Aug oq te dStx
| ipannsad on each of set1 articles by exist
ing law, in addition e. the duty OF Aug. -.
nosed by this section shall not In any case
| increase the rate of duty on any article De,
| yond the rate imposed thereon py ths s..sl saas
H.. Is
| shall be the same as was Imposed by SAID
| act: and, provided further. that wnere the
present rata of duty on any article is nignee ,en
| rate of duty thereon shall not be furtner
| increased by this section. but shall remain
as provided by existing law
MR.. DINGLEY EXPLAINS AGAIN.
Chairman Dingley, of the ways and
means committee. made the following
| statement tonight: The revenue bill Is not
| intended to be a tariff provision, but SIM
| NV an exigency bill to raise about s4O,Oc0,oW
| of revenue to meet the deficiency The
| main object is revenue, although fnciden-
| tally the increases will help American in
| dustries to some extent. The bin is limited
| to two and half years, with the expecta-
| tion by that time the Republicans will be
| in full power and able to revise the tariff
| on their own lines. Wools are taken from
| the free list and clothing wools given a
| duty of 6 4-l0 cents a pound Go per cent.
of the duty pr9viaea py ,ne o,Sc ae. 1c com, ao1%
pensatory duty of per cent. of what they
! had under the act OF 1890, In addition to the
| pet wools are placed where they were un-
| der the act of $780, In addition to the ad
| valorem duties of the present law. The ar
| ticles OF lumber placed on the free list
| of the tariff of 1880 are transferred to the
| dutiable list with 60 per cent. of the duty
that they haa uhass iee H
| sugar which is not touched) have all the
| duties raised Is per cent. The committee
had not time to treat articles separately
and hence a horizontal increase became
| necessary as to all articles now on the free
| list.
| .Srhe bond bill" added Mr.. Dingley,
| "gives the Secretary of the Treasury author
| ity to ISSUE per cent. fve-year coin
\ bond to maintain the redemption fund. I'm
| addition to the authority he possesses,
| but provides that the proceeds of all bonds
| sold under this act and under the redemp-
| ton act shall be used only for redemption
| purposes. 1t also provides that ali bonds
shall be first offered to the people of this
| country. The bill also authorizes certifi-
Gates Of Indebtedness bearing per cent. in
terest and payable within three years. TO
| be issued to meet any temporary deficiency
| of revenue. The only object OF the bond
| bill is to reduce the rate Of interest and
| the time they run, as the bonds which the
| Secretary is now authorized TO issue bear
| 4 or per cent. interest. The bill practi-
| cally separates the redemption fund from
4 the cash I'm the treasury. and Is intended
| to put a stop TO the practical use of pro-
| ceeds of bonds to m .et the deficiency In the
| treasury.
OUR FRIEND IN NEED.
L -, -