Evening journal., 1895-12-26

ed on each of such articles by said act,
approved Oct. 1. 1890, and subject to all
the conditions and limitations thereof, I'm
addition to the ad yalorem duty imposed
on such articles by said act, which became
law Aug. 27 1894
Tho Duty on Lumber.
"Sec. 3.-That from and after the pas-
sage Of this act and until Aug. ], 1898,
there shall bo levied, collected and paid on
all imported lumber and other articles de-
signated IA paragraphs ga to 6s3, inclus-
I've, of an act entitled An Act to Reduce
Taxation, to Provide Revenue For the
Government, and for Other Purposes
which became a law Aug ~, 1894, du-
by equivalent TO go per cent Of the duty
imposed on each Of such articles by an act
entitled An Act to Reduce the Revenue
and Equalize Duties on Imports, and For
Other Purposes, approved Oct. ], 1890.
and subject to all the conditions and lin
ltations of said last named act; but pulp
wood shall be classified as round unman-
ufactured timber exempt from duty; pro.
yided, that In case any foreign country
shall impose an export duty upon pine,
spruce, elm or other logs or upon stave
bolts, shingle wood pulp wood or head.
Ing blocks exported 60 the United States
from such country, then the duty upon
The lumber and other articles mentioned
In said paragraphs GA to 6s3, inclusive
when imported from such country shall
be the same as fixed by tho law in force
prior to Oct !, 1890.
"Sec. 4.-That on and after the passage
Of this act and until Aug. ], 1898, there
shall be levied, collected and paid on all
the imported articles mentioned in sched-
ules A, B @, ID, +, G, II, l. j. l., NJ and
n Of an act entitled, An Act TO Reduce
Taxation 10 Provide Revenue For the Gov
ernment and For Other Purposes, which
became law Aug. ~ 1894, duty equiv
alent 10 10 per centum of the duty i'm
posed on each OF said articles by existing
law in addition to tho duty provided by
said act OF Aug. 81, 1894. provided that
the additional duties imposed by this Sec
ton shall not in any case increase the rate
Of duty ON any article beyond the rate im-
posed thereon by the said act of Oct. /,
1890, but in such cnse tho duty shall be
the same as was imposed by said act; and,
provided furthor that where the present
rate Of duty on any article Is higher than
was fixed by said last named act the rate
Of duty thereon shall not be further in
creased by this section, but shall remain
as provided by existing law. "
The Financial Bill.
The full text of the financial bill, which
was also reported today, IS as follows:
"a bill 20 maintain and proteut the
coin redemption fund and to authorize
the issue of certificates Of Indebtedness to
meet temporary deficiencies Of revenue.
BE it enacted, ETC., that in addition to
the authority given 20 the secretary Of the
treasury by the not approved Jan. IA,
1875, entitled, An Act to Provide For the
Resumption Of Specie Payments, he is au-
thorlzed from time to time, at his disore-
tion, to issue, sell and dispose Of, at not
less than par, coin, coupon or registered
bonds of the United States to an amount
sufficient for the object stated in this sec
tion, bearing not to exceed per centum
interest per annum, payable semiannual-
ly and redeemable at the pleasure OF the
United States in coin after ave years from
their date with like qualities. privileges
and exemptions provided in said act for
the bonds therein authorized. And the
secretary of the treasury shall use the
proceeds thereof for the redemption of the
United States legal tender notes and for
no other purpose. Whenever the secretary
of the treasury shall offer any Of the bonds
authorized for sale by this act or by the
resumption act Of 1875 he shall advertise
the samo and authorize subscriptions
therefor TO be made nc the treasury depart
ment and at the subtreasurles and desig-
natod repositories Of tho United States
Sec 2.-That TO provide for any tenn
porary deficiency now existing or which
may hereafter occur, the secretary of the
treasury Is hereby authorized, at his dis
oretion, to issue certificates of indebted
ness OF the United States to an amount
not exceeding 500 000, 600, payable in
three years after their date to the bearer
In lawful money of the United States, of
the denomination of $50 or multiples
thereof with annual coupons for interest
nc the rate Of 3 per centum per annum,
and to sell and dispose OF the same for not
less than equal amount of lawful money
of the United States at the treasury do
partment and at tho subtreasuries and
designated repositories OF the United
States and at such postoiiices as he may
select. And such certificates shall have
the like qualities, privileges and exemp-
tions provided in such resumption act for
the bonds therein authorized. And tho
proceeds thereof shall be used for tho pur-
pose prescribed in this section and for no
other.
Another Bond Issue Likely.
J. Pierpont Morgan's visit TO Washing
ton has resulted in an understanding with
the administration that the next sale OF
bonds for the restoration OF the gold re-
serve viii be 500, 600. 600. There will be
no contract TO maintain the reserve for
any given period, but simply the exchange
OF so much gold for per cent bonds, re-
deemable in 80 years, at premium to net
the holder per cent interest
The gold reserve is now we'll below
SOC, 600, 0O0 lt promises to suffer fur
ther reduction Of serious magnitude In the
immediate future. In making up for the
loss Of gold which the United States Is
sustaining the president has determined
to increase the amount of gold In the
! treasury much beyond the limit of Sl00,
600, 900. The groenbaoks and treasury
notes outstanding aggregate nearly 5000,
600, 600. Forty per cent Of this amount
4 .N..n.H l.. ~ n