Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-12-24
NEW TARIFF BILL.
Measure Proposed by tie Republicans
for Treasury Relief.
AN ISSUE OF BOyDs.
Also of Certificates of Indebtedness.
To Meet Present Emcrgcncy-BOth
Bills tn he Passed before End of
Thursday.

WASHINGTON, December 25.--Four
members Of the Ways and Means Com
mittee this afternoon in preparing
measure Of relief for the Treasury De-
partment.
There was a satisfactory unanimity OF
opinion among the members as to the
course to be pursued.
Naturally the first suggestion was to
secure revenue in the line OF Republican
policy. which is by duty on imports.
When the conference ended very mate
rial amendments were made to the pre-
sent tariff law. which IT is estimated will
increase revenues about 100000 an
nually. Another measure. which is still
incomplete. will also be reported at the
same time, looking to an issue Of bonds
and certificates Of Indebtedness bearing
a low rate of interest. to meet the pre-
sent emergency
The two measures will not be amalga-
mated. but will be brought before the
House separately. This conclusion differs
radically from the sentiments expressed
at secret caucus Of the Republican
members held at the Capitol on Sunday
night last At that time nearly all the Re
publicans present favored one general bill,
which il was contended should stand or
fan with the Senate and the President
upon It's merits To-day however the
disposition was so general TO report two
different measures that the agreement
was reached without delay.
The reason for this was obvious. 1t was
explained by some OF the members pre-
sent that the silver Republicans in the
House and Senate would vote with their
party on the tariff measure while they
would be forced. by the very nature or
things. to oppose the bond features OF
the measure.
II was primarily to secure the support
Of the silver Republicans and not put
them in an antagonistic position to their
marty. that the decision was reached 10
divide the two propositions
The two bills will be reported 10 the
House on Thursday Of this week, and VIII
be passed with little delay. one and
possibly two days. may be devoted 10
their consideration. but II is not improba-
bic that they will be passed before the
close OF the session Thursday. which may
be prolonged TO extend the time for dis
cussion.
FEATURES OF THE BILL
The substantial features Of the tariff
bill are these:
Making eO-per-cent. rate on wool, with
a G0-per-cent. compensatory duty on man
ufactured cloth over the act OF 1884.
4 oO-per-cent. rate OF duty over the IAV
law McKinley), on lumber.
4 g5-per-cent increase over the act OF
194 Wilson biD. on live stock, cereals
and dairy products and q horizontal m
crease Of l5 per cent in rates IN al
other schedules in the law Of lssi.
In this connection "A proviso is addei
that In no case shall the rates or duty
exceed those OF the Mckinley law eN-
cept In cases where the present Ia.es
Of duty are higher than those Of the Nc
Itiniev tariff law. The proposed amend
nents VII remain in eject until August,
1898.
The increase OF duty on farm products
vas made AZ the request Of the members
representing the distnctively agricultural
States. their contention being that the
present law Is ruinous TO their Granger
constituents.
The accompanying bill provides f6r an
issue Of per cent. 5-year bonds 10
nr,tect The gold reserve in the Treasury
with q proviso that the currency Re-
deemed bv the bonds shall be paid ont
while a deficit exists In the Treasury.
This differs from the original purpose
OF the Republicans leaders which was ID
give authority 10 the Secretary OF the
Treasury 10 issue 3-per-cent. bond as
a noDular loan 20 maintain the gold
reserve. and for no other purpose. with
q rroviso that the redeemed green
backs shall not be used 10 meet cur
rent expenses, but be retained as long
as necessary as q part OF the redemption
fund: authority 10 issue TO national
banks circulating-nOtes - 10 the par or
tn bonds deposited as security IN -refor'
and To reduce the tax on national-bank
circulation: and authority for The issue
Of certificates OF Indebtedness 10 meet
temporary deficiency in receipts.
Ir addition % the sale OF bonds, ths
bill VIII also authorize the Secretary OF
the Treasury 20 issue certificates OF IL
debtedness bearing per cent interest.
not 10 excel sj3c01o0 In amount 10 meet
urgent deficiency in the revenues.
CONGRATULATIONS FROM CHICAGO
CHICAGO. Ill. December 3.-1he
Chicago Board OF Trade to-day sent the
following telegram TO Speaker Reed:
Thomas b. Reed
I'VE congrat tulate the House OF Repre-
sentatives OF the United States upon
their prompt and patriotic action 10
relieve the Treasury. as requested by
the President Of the United States.
Messages were al the same time sent
all over the country TO the leading
boards Of trades and chambers Of com
merce. requesting them 10 follow the ex-
ample set by Chicago