The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1895-12-26
THE GOLD RESERVE
Republicans Frame a Bill Which
Is Expected to Pass.
TO BE NO MORE GOLD BONDS
The Bill Will Provide for Coin Bonds
and Reduce the Rate of Interest
on Oiher Bonds.

Washington, Dec. 22.-This promises
to be an eventful week in the house.
Before adjournment is reached next
Saturday the republican leaders intend
that a bill shall have been sent to the
senate in response to the demand of the
presidents message on Friday for some
means for relieving the treasury and
protecting the gold reserve. The repub-
lican leaders determined to act prompt
ly as soon as the message was sent in,
and all idea of taking a recess for the
holidays was abandoned in the face of
the situation presented. The ways and
means committee was organized yes
terday, and last night the republican
members held a secret meeting at the
capitol to discuss the details of a bill
which, in their opinion, would furnish
the desired relief.
The general outline of measure was
practically agreed upon, but the details
have not been completed. The sentiment
was unanimous that no gold bonds
should be authorized, but that a bill on
the lines of Mr.. Reeds amendment of
last year should be drawn up, and with
that should be completed some tariff
changes for the purpose of raising ad-
dltlOnal revenues.
The republicans took the stand that
the menace to the gold reserve was
caused primarily by the lack of revenue
to meet the expenses of the government.
Mr.. Reeds bond proposition, which the
committee will adopt. provides first for
the reduction of the rate Of interest on
bonds to be issued under the acts of 1870
| and 1885, for the purpose of resuming
| specie payment and protecting the spe-
| Gle reserve, from 4 to per cent; and
second, for a low rate, low denomination
coin bond, which would practically be a
| debt certificate, to be used to supply de-
| ficiencies in the revenue.
The details of tariff changes will fur
nish the most difficult task in framing
the bill. There is practical unanimity
| of sentiment so far as can be learned
among the republican members of the
committee for duty on wool and com
| pensating duties on woolens. The west
ern members want the duty on wool &c
be at least 8 cents per pound, but the in
dications are that it win not exceed
cents.
There is some discussion of PROPOSE
tion to make a horizontal increase on al
the schedules except sugar of from Is tC
20 per cent, but that is opposed in GER
tain quarters as being not on protection
| lines
While there is, it is said, some differ
| ence of opinion, it seems certain there
viii be a time limit of two years or 81
months on the life of the tariff provis
ions of the bill.
The house will probably adjourn to
morrow, and the republicans of the
ways and means committee will go tC
work to perfect the details of the bill
1t is hoped that it can be gotten ready
by Tuesday, and if so, it will probabl!
be. passed under a special order OF th'
committee on rules. After the bill has
been sent to the senate the question o
whther congress shall remain in ses
sion for the remainder of the holiday
will remain with that body.
AS to the attitude of the democrats to
ward the bill, it seems probable that
will be opposed by most, if not all, of tn
democrats. The silver democrats ar
not disposed to vote for any bond prop
osltion-first, because they believe ther
is another remedy in the hands of tn
executive, the redemption of notes in sill
YER They might vote for coin bonds.t
borrow money if the executive said tina
money was needed to meet current eX
penses, but as the demand for authorit
to issue bonds is not based on tina
ground their opposition to the bon
feature of the bill is certain.
Solid opposition of the democrats
looked for, but the overwhelming re
publican majority insures it's passag
beyond question.