The herald., 1895-12-23
IN THE HOUSE
A Bill to Be Introduced to Assist the
Finances

FiHhhSsS
WAsHINGToN, Dec. 22.-This promises
to be an eventful week in the house. Be-
fore adjournment is reached next Satur-
day the Republican leaders intend that
bill shall have been sent to the senate
in response to the demand of the presi-
dents message on Friday, for some means
of relieving the treasury situation and pro-
tecting the gold reserve. The Republican
leaders determined to act as soon as the
message was sent in, and all idea of taking
recess for the holidays was abandoned in
the face of the situation presented.
The ways and means committee was
organized yesterday, and last night the
Republican members held q secret meet
ing at the capitol at which Speaker Reed
was present to discuss the details Of a bill,
which, in their opinion. would furnish the
desired relief.
As a preliminary it was decided that
while the situation in the senate. as to the
fate there of any measure passed by
the house, should be kept in mind, the
house must act independently of the result
Oft upper branch of congress. The gen.
eral outline of a measure was practically
agreed upon, but the details have not been
completed. The sentiment was unanimous
that no gold bonds should be authorized,
but thai bill on the lines of Mr.. Reeds
amendment of last year should be drawn
up and with that should be combined some
changes for the purpose OF raising addi-
tional revenue. The Republicans took the
stand that the menace to the gold
reserve was caused primarily by the
lack of revenue to meet the ex.
is still their position. MIR. Reeds bond
proposition, which the committee will
adopt, provides first for the reduction of
the rates of interest on bonds to be issued
under the acts of 1870 and 1855, for the
purpose of resuming specie payments and
projecting the specie reserve. from to 8
per cent, and, second, for low-rate, low
denomination coin bond which would prac-
tically be debt certificate. to be used to
supply deficiencies in the revenue. By the
terms of the bill it is probable that pro-
visions will be inserted to provide that the
proceeds of any bonds issued under the
acts of 1870 and 1875, as amended, shall
20 10 the reserve and of the latter bonds to
pay current expenses. In this way sep
arate account can be kept, and the pro-
ceeds of bonds sold to maintain the re.
serve cannot be used to pay current eX-
penses. The details of the tariff changes
will furnish the most difficult task In franz
ing the bill.
There is practically unanimity of senti
ment so far az can be learned among the
Republican members of the committee for
IA duty on wool and compensating duties
on woolens. The weslern members want
Ifl6 QuLy OH WOOL 10 De al l6dSt ti&Lt ccutS
per pound, but the indications are that it
will not exceed five cents.
There is some discussion of a proposition
to make a horizontal Increase on all the
schedules except sugar, of from fifteen to
twenty per cent, but that is opposed in
certain quarters as being not on protection
lines.
1t seems probable, therefore, that wool
and woolens, lumber and various other
articles will be selected. While there is, it
is said, some difference of opinion on this
point, it seems certain there will be a
time limit of two years or thirty
months on the life of the tariff
made that it is an emergency measure for
raising revenue and, therefore, would meet
with the approval of all who believe the
treasury needs additional revenue, no mat
ter what the individual opinions may he re-
garding protective duties. The house will
probably adjourn tomorrow and the Re-
publicans on the ways and means commit
tee will 60 to work to perfect the details of
the bill. 1t is hoped that it can be ready
by Tuesday, and, if SO, it will probably be
passed under suspension of the rules.
Speaker Reed and his lieutenants are not
disposed to brook delay. They believe the
house should do its duty promptly. After
the bill has been sent to the senate the
question of whether congress shall remain
in session for the remainder of the holidays
will remain with that body. If the senate
proceeds to the consideration of the bill
the house will remain in session and prob
ably adjourn from day to day, but if the
senate should, after the passage of the
house bill, show that it did not propose to
go ahead with it and should deliberately
pass resolution for holiday recess, it is
probable that the house would agree to it.
As to the attitude of the Democrats
toward the bill, it seems probable that it
will be opposed by most, if not all of the
Democrats. The silver Democrats are not
disposed to vote for any bond proposition;
first, because they believe there Is another
remedy in the hands of the executive-the
redemption of notes in silver. They might
vote for coin bonds to borrow money if the
executive said that money was needed to
,meeu current expenses, but as the demand
for authority to issue bonds is not based
on that ground, which fact is distinctly dis
avowed, their opposition to the bond
features of the bill is certain. They would
probably also resist the measure on ac-
count of the increase in the
tariff schedules. The administration and
sound money Democrats who might be
disposed to vote for II bond authorization
will probably be deferred from voting for
The measure because of its tariff PROPOSE
tons. So that the solid opposition of the
Democrats Is looked for. The overwhelm-
ing Republican majority insures its