The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1895-12-26

act entitled and '.Act to reduce taxation,
TO provide revenue for the governments
ana other purposes. That which pc
came a law August 27, 1894, and hereby
suspended until August 1,189S. Section 2,
from and after the PASSAGE of this act
and until August l, 1898, shall be levied,
collected and paid on all imported articles
maze In the whole or in part of the wool,
worsted Or other materials described IN
section ! of this act except as hereafter
provided, go per cent of the specific
| pound or square yard duty imposed on
each Of such articles by the act entitled
Act TO reduce the revenue andEequai-
| ize dutlesson imports and other purpos-
es, approved October 1, 1890, subject to
al conditions ndslimitations thereof in
additlon to the advalorem duty now i'm
= posed on such articles.
f3y an act entitled an "act to reduce
taxation, and to provide revenue for the
government and other purposes, which
became law August 27, 1894, on car
pets, drugs, etc., bookings, mats, rugs,
screens, coyers, hassocks, besides art
| squares and other portions of carpets or
carpe6lngs IN whole Or part of wool. A
specific square yard of duty is imposed
on each such article by said act approved
October |, 1890, subject to all condit-
ions and limitations thereof, in addition
to an ad yalorem duty imposed on suoh
articles by said act which became Law
August 81, 1894
Section 3-From and after the passage
of this act and until August /, 1898,
there shall be levied, collected and paid
on all imported lumber and other articles
designated in paragraphs GA to 6S3, in
| elusive of act entitled an "act to reduce
taxation, to provide revenue for the gov
ernment and other purposes" which be-
came law. August 2, 1894, duty equiva-
lent to 10 per cent of the duty imposed on
each of such articles, by an act entitled
an '"act to reduce revenue and equalize
| duties on imports and other purposes !"
approved October /, $780, subject to all
conditions and limitations of such last
named act, but pulp wood shall be classi-
1 fed as round, unmanfuactured timber,
exempt from duty, provided in case any
foreign country shall impose an export
duty upon pine, spruce, elm or other
| logs or upon, stave colts, shingle wood.
pulp wood OF heading blocks exported to
the United States from such country,
then the duty upon lumber and other ar
tioles mentioned in said paragraph 674
TO 6S3 inclusive, when imported from such
country, shall be the same as fixed by
law in force prior to October 1. 1890.
| Section 4--On and af ter the passage of
this act and until August /, 1893 there
shall be levied, collected and paid OH all
imported ARTICLES mentioned in schedules
A, B, G, D, f, G, III, I, J, L, NJ and
tion, to provide revenue for the govern
ment and other purposes, which became
a law August 27, 1894, duty equivalent
to Is per cent of the duty imposed on each
of said articles by the existing law in
addition to the duty provided by said
act,. August 81. 1894, provided additional
duties imposed by thisEsection shall not
in any case increase the rate of duty on
any articles beyond the rate imposed
thereon by the said act of October l, 1890,
i'll such Ceases the dutyfshall be the same
as imposed by the said act provided
| further that where thezpresent rate of
duty on any article Is higher than fixed
thereon shall not be further increased
by this section, but remain as provided
| by law.
1t may beTstated in explanation that
the tariff schedules A, B, G, ID, E, G,
| H, I. J, L, NJ and N Of the act of 1894,
which the duty is equivalent to Is per
cent in addition to that imposed by the
present law, and that there shall be add
ed schedules pertaining to chemicals,
earthen ware, glass ware, metals, manu-
| factures of woods, tobacco agricultural
products, spirits, wines, cotton manu-
| factures, flax, hemp, jute, Silks pulp,
|
| The full text of the financial bill to be
reported tomorrow is, ga bill to main
| tain and protect the coin redemption
| fund and to authorize the issue Of certif-
oates of indebtedness to meet the tempor-
ary deficiencies of revenue.
| 1t is to be titled, HBe it enacted, etc.,
that in addition to the authority given
the Secretary of the Treasury by an
act approved January IA, 1875, entitled:
An act to provide for the redemption of
specie payments, he be authorized from
time to time, at his discretion to issue,
sell and dispose of, at not less than par
coin, the coupon or registered bonds of
| the United States the amount sufficient
| for the object stated in this section, the
| bearing not to exceed 8 per centum in
| terest per annum, payable semi-aunually
| redeemable at the pleasure of the United
States in coin, after five years from their
| date with like qualities, privileges and
exemptions provided in such act for rbonds
| therein authorized, and that the Secre-
tary of the Treasury shall use the pro-
ceeds thereof for the redemption Of Unit
| ed States legal tender notes and for no
other purpose. Whenever the Secretary
of the Treasury shall offer any bonds
authorized for sale by this act or by 1.-the
resumption act of 1876, he shall advertise
the same and authorize subscriptions
therefor to be made at the Treasury De-
partment and nc sub-treasuries and des-
| ignated Repositories of the United States
Section 2. TO provide for anystemporary
deficiency now existing or which may
here after occur, the Secretary of the
Treasury is hereby authorized at his dis
oretion, to issue certificates of indebted
ness Of United States to an amount not
exceeding fifty millions of dollars, pay
able in three years after date to the bear
er in lawful money of the United States,
of the denomination of twenty dollars,
or multiples thereof with the annual
coupons for interest at a rate of three per
centum per annum to sell and dispose
of same for not less than an equal
amount of lawful money Of the United
States at the Treasury Department. and
at ub-treasuries and designated deposit
ories of the United States and such post
offices as he may select. Such certificates
shall have life qualities. privileges and
exemptions provided in the said resump-
tion act for bonds therein authorized
The proceeds thereof shall be used for the
purpose prescribed in this section and no
l