The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1895-12-28
TWO BILLS ARE FORMULATED
One IL Designated as "a Temporary
Revenue Bill and Means More
Import Duties.


the treasury. One of these will be
tariff bill to increase the revenue. the
other financial plan to maintain the
gold reserve and prevent alleged exist
ing trouble with greenbacks.
This party plan has been perfected by
two meetings of republican members of
the ways and means committee, the first
held Saturday night with the co-opera-
ton of Speaker Reed and other leaders,
the second this afternoon. Although
strong efforts were made to preserve Sc
crecy concerning the details OF the plan,
it's features have been obtained by the
Associated Press from unquestionable
authority.
The tariff bill will be entitled "A bill
to increase the revenues and to prevent
deficits In the treasury" and will go In
to effect when signed by tho president
(if he signs it and will remain in effect
until August /, 1898, when, by Its pro-
visions, it's operations will cease. Its
items follows:
A duty on wool of 60 per cent of the
Mckinley law rate. A compensatory
duty on wooden goods Of go per cent OF
the Mckinley act rates. A duty of go
per cent of the rate of 1890 on lumber,
which will be from 10 to Is per cent ad
valorem. An increase of rs per cent
from the Wilson-Gorman act on the
rates on cereal breadstuffs. dairy prod
ucts and live stock. including poultry.
A horizontal increase of Is per cent of
the Wilson-Gorman bill ON all other
schedules. with the provision that in no
case shall the duty exceed the McKin-
ley rates except where the Wilson-Gor-
man rates exceed those of the Mckinley
law.
BOND ISSUES.
The second bill will provide for two
issues of bonds. The first will be an I'M
limited amount of per cent five-year
coin bonds to protect the gold reserve
with the provision that the currency re-
deemed by the proceeds shall not be
paid out for current deficits in the reve-
nue. unless the expenses of the govern
ment are in excess of the revenues
(which it is expected they will not be if
the first bill Is in operation).
In addition the second bill will pro-
vide for one-year per cent treasury
certificates of indebtedness not to ex-
coed $50, 000, DOC III amount and to be dis
posed of at the discretion of the secre-
tary of the treasury to meet current def
icits in the revenue.
These are to be offered for sale in the
sub-treasuries and repositories of the
government. 1t is expected that there
may also be added to this bill a plan to
increase the currency by authorizing
national banks to issue circulation to
the par value of all the government
bonds deposited by them with the gov
eminent as security for their notes.
The plan outlined above was not
agreed to without much reconciliation
of differences and compromises, but the
leaders are assured that the bills will
pass the house without material OPP
position, having made thorough can
vass by state delegations and there are
strong hopes that the senate will act
upon them favorably.
Several western free silver republi-
cans held a conference during the day
and decided to oppose any bill contain
ing bond features. Their votes will be
cast against the bond bill, but it is ex-
pected that it will receive enough votes
from the democratic side to offset the
republican detection. On the other
hand, the tariff bill probably will be
passed by a strict party vote.
BY the same division the house re-
publieans hold some hopes that their
plan can carry in the senate, mastering
all OF the republican and two populist
votes for the tariff bill and a combina-
ton OF the republicans and democrats
for the bond bill, although the supposed
free silver majority OF the senate makes
the success of the second bill much more
doubtful.
There have been conferences of re-
publicans from both houses preliminary
to the present plan, so it is not alto
gether the product of Speaker Reed.
Among the rank and file of house repub-
licans there is a movement to hold a
caucus Thursday morning to pass upon
the bills, but the leaders look upon the
caucus with distrust, for other combina-
lions may be formed to change the tar
if features and once the special inter
ests find the doors to tariff changes
open much time is likely to be consum-
ed To all of the members who have
come to him today to secure considera-
ton for the particular interests of their
constituencies Chairman Dingley has
replied that the bill under consideration
was not tariff bill, but a temporary
revenue bill. The same argument has
been used in committee with those
members who are opposed to horizontal
raise of Is per cent on the ground that
1t was opposed to the protection theory.
The advance on live stock and cereal
breadstuffs was secured by the efforts
of members from the northwest and is
intended in part as a reply, said one
committeeman, to the charge that the
republican tariff measures favor ed the
manufacturer rather than the farmer.
How much debate will be allowed has
not been decided, but not more than two