St. Paul daily globe., 1895-12-24
HIGHER ALL ROUND
REPUBLICAN PROTECTION BILL
COUPLED WITH A BOND
MEASURE.
SIXTY PER CENT FOR WOOL
HORIZONTAL INCREASE ON ALL
SCHEDULES OF THE WILL
SON BILL.
TWO KINDS OF SHORT BONDS
Extension of National Bank Is
sues democratic Opposition
to Tariff Changes.

WASHINGTON, Dec. %. = The
house Republicans will introduce or
the day after Christmas, and pass
within the week, two bills in response
to President Cleveland's message OF
appeal for help for the treasury. One
of these two will be tariff bill tc
increase the revenue, the other q
financial plan to maintain the gold
reserve and prevent the existing trou.
BILE with the greenbacks. This party
plan has been perfected by two meet.
ings of the Republican members OF
the ways and means committee. The
first was held Saturday night, with
the cooperation of Speaker Reed an6
other leaders; the second, this after.
noon. Although strong efforts were
made to preserve secrecy concern
ing the details of the plan, hts feat.
ures nave been obtained from unques.
tionaIble authority. The tariff bill will
be entitled, "a bill to increase the
revenues and prevent deficits in the
treasury" and will go into effect
when signed by the president, if he
signs it, and will remain in effect I'm.
til Aug. 1, 1898, when, by its provis.
ions, its operation will cease. Its
items follow:
A duty on wool of 60 per cent of the
Mckinley law rates.
A compensatory duty on woollen
goods of go per cent of the Mckinley
act rates.
1880 on leather which will be from IL
to 25 per cent ad valorsm.
An increase of % per cent from the
Wilson-Gorman act rates on cereals.
breadstuffs, dairy products and live
stock, including poultry.
A horizontal increase of Is per cent
from the Wilson-Gorman rates on all
othsr schedules, with the provision
that in no case shall the duty exceed
the Mckinley rates, except where the
Wilson-Gorman rates exceed those OF
the Mckinley law.
TWO. ISSUES OF BONDS.
The second bill will provide for two
issues of bonds. The first will be an
unlimited amount of per cent five
year coin bonds, to protect the gold
reserve, with the provision that the
currency redeemed by the proceeds
shall not be paid out for current de-
ficits in the revenues, unless the eX-
penses Of the government are in eX-
cess of tha revenues (Which it is eX-
pected they will not be if the first bill
is in opera tion). In addition the Sec
ond bill will provide for one-year per
cent treasury certificates of indebted
ness not to exceed $50, ,0O0, 900 in amount
and to be disposed of at the discretion
of the secretary of the treasury to
meet current deficits in the revenue.
These are to be offered for sale at the
subtreasuries and repositories of the
government. 1t is possible, also, that
there may be added to this bill plan
to increase the currency by authoriZ-
ing national banks to issue circulation
to the bar value of all the government
bonds deposited by them, with the gov
ernment as security for their notes.
The plan outlined above was not
agreed upon without much reconcilia-
ton of differences and compromises.
but the leaders are assured that both
bills will pass the house without ma
terial opposition, having made thor
ough canvass by state delegations,
and there are strong hopes that the
senate will act upon them favorably.
Saturday nights meeting showed a
general sentiment in favor of incorpo-
rating the whole plan into one bill,
but reasons were advanced today
which led to the division of the tariff
and bond issues.
WILL THEY PASS?
Several Western free silver Repub-
ncans held a conference during the
day and decided. to oppose any bill
containing bond features. Their votes
will be cast against the bond bill, but
it is expected that it will draw enough
votes from the Democratic side to Off
set the Republican detection. On the
other hand the tariff bill probably will
be passed by strict party vote. By
the same division the house Republic
ans hold some hopes that their plan
can carry in the senate, mastering all
of the Republican and two Populfst
votes for the tariff bill, and a combi-
nation of Republicans and Democrats
for the bond bill, although the sup
posed free silver majority of the SEN
ate makes the success of the second
bill much more doubtful. There have
been conferences of both houses of Re-
publicans on the plan, so that it is
not altogether the product of Speak
er Reed. Among the rank and file of
house Republicans there is a. move
ment to hold caucus Thursday morn
ing to pass on the bills, but the lead
ers look upon the caucus with dis
trust, for their combinations may be
formed to change the tariff features
and once the special interests find the
doors to tariff changes open, much
time Is likely to be consumed. To all
of the members who have come to him
today to secure consideration for the
particular interests of their constitu-
ents, Chairman Dingley has replied
that the bill under considera ton was
not a tariff bill, but temporary rev.
enue bill. The same argument has
been used in committee with those
members who opposed the horizontal
raise of Is per cent on the ground that
it was opposed to the protection the
ory.
NOT FOR ONE CLASS.
The advance on live stock and ce-
real breadstuffs was secured by the
efforts of members from the North
west, and is intended in part as a re-
ply said one committeeman, to the
charge that Republican tariff meas
ures favored the manufacturer rather
than the farmer. How much debate
10
but not more than two days at most
is planned. The bill will be laid before
the Democratic members of the COM
mittee Thursday morning, and be in
troduced in the house that day, with
a rule to limit debate and to bring a