Red Lodge picket. [volume] (Red Lodge, Mont.) 1889-1907, 1895-12-28
THE TARIFF AND BONDS
Methods Proposed by the House
to Help the Treasury
TWO BILLS ARE FORMULATED
One Is Designated as "a Temporary
Revenue hi ~ and Means More
Import Duties.

Washington. Dec 23.-The house re-
publicans will introduce on the day af-
ter Christmas and pass within the week
two bills in response to President CleVe-
lands message of appeal for help for
the treasury. One of these VIII be
tariff bill to increase the revenue. the
other a 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 hrst
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 the president
(if he signs iD and will remain in effect
until August /, 1898, when, by its pro-
visions, its opera tionS will cease. Its
items follows:
\ duty on wool Of so per cent of the
Mckinley law rate. A compensatory
duty on wooden goods Of 60 per cent Of
the Mckinley act rates. A duty of ~
per cent of the rate of 1890 On lumber,
which will be from 10 to 10 per cent al
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 German bill on all other
schedules, with the provision that in no
case shall the duty exceed the Mckln-
| ley rates except where the Wilson-Gor-
man ra tes exceed those Of the Mckinley
| law.
BOND ISSUES.
The second bill will provide for two
| issues Of bonds. The first will be an un-
| limited amount of 3 per cent five-year
coin bonds to protect the gold reserve
with the provision that the currency re-
| deemed by the proceeds shall not De
| 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 II
! the first bill is in operation.
| In addition, the second bill will pro-
vide for one-year 2 per cent treasury
certificates Of indebtedness not to ex-
ceed $50, 900, ,OOC Ii 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
| &c there
NAV also be added to this bill 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
ernment as security for their notes.
MAY PASS BOTH HOUSES.
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 op-
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 republt-
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 1t 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-
publicans hold some hopes that theil
in ha
all of the republican and two populis1
votes for the tariff bill and combina
tion 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
caucus Thursday morning to pass upol
the bills, but the leaders look upon tn
caucus with distrust, for other comblna
tions may be formed to change the tar
if features and once the special inter
ests find the doors to tariff change
open much time is likely to be consum
ed. To all Of the members who hav
come to him today to secure consldera
ton for the particular interests or thel
constituencies Chairman Dingley ma
replied that the bill under considerable
, was not tariff bill, but temporar
revenue bill The same argument ha
been used in committee with thos
members who are opposed to horlzonts
| raise Of Is per cent on the ground ina
, it was opposed 20 the protection theor.
, | The advance on live stock and ceres
breadstuffs was secured by the effort
! Of members from the northwest ana
y intended in part as reply, said or
: committeeman, to the charge that tf
f republican tariff measures favored tf
4 manufacturer rather than the farme
How much debate will be allowed he
: not been decided but not more than t"
q davs at the most is planned. Ihe bl
! will be laid before the democrat
g members Of the committee Thursda
/ morning and will be introduced IN II
s house that day with rule to Inn
: debate and bringing vote not lat
than Friday night. On this point u
remark is attributed to Speaker Ree
This house is not debating school
e and arguments for longer debate "
meet with the response that the pll
d are emergency bills which should
is passed "a once If at all.
r The democrats Of the house VIII
y pose unanimously as far as can be
l. certained, the revenue bill Whlch u
. republicans will bring in on Thursda
al Both the silver and anti-silver dem
Gratis assert that there IS no necessl
ct for an increase in the revenues, as tn
le| claim that the available cash in t
treasury over and above the golo I
81 serve is amply sufficient to meet g
ficiency that may occur for the ne
til two years. when they expect the
ceipts from the present tariff law
es equal or to exceed the expenditure
ut Up to this point the democrats seem
cd agree. AS to an authorization for &C
"a "a bonds they differ. The gold men Wou
~ ~ be willing to vote for bonds, preft
he ably gold bonds, to fortify the reser'
n. but in their opinion no bond will me