The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-12-25
HurrlsdIy Prepared To Meet the EslgenCles
Of Our Shaky National Finances.
THE BOND BILL WAS ALSO COMPLETED.
Democrats VIII Decide En Secret Scs-
Cariislo's Approval Simple In IFS
Dctniis Provides For Issue of
Bonds Payable In Coin.

Washington. Doe. 2i.--"Let the coun-
try understand" said Il leading Rcpub-
lican member Of the Ways and Means
Committee to-day, that the bill we
snail present to the House on Thursday
Is IL, pure revenue measure, hurricdiy
prepared to meet the cXigcncy In our
national finances and in response 60 the
Presidents plea that some measure for
relief must be afforded 10y Congreaa
There has been no attempt mt tariff re-
vision. Our measure Is purely Il rcvc-
nuc measure"
The correctness of this declaration
WAS shown by the action OF the com
mittcc to-day In declining to hear Judge
William Lawrence. OF Ohio president
OF the National Wool Growers Assncia-
ton. who desired to hc heard in support
ol Il hiGhS: rate on wool than that pre-
NiouSiy ai;rcch upon. Repeated applica-
tiona have been made To the committee
in its collective and Individual capacity
from Eastern manufactures. who have
deprecated hnsty action In IN" prrpura>
ion of the bill. To all these applications
the committee have turned "a deaf car
and tho bill will have the distinction Of
being reported To the House as :, result
OF the committees own deliberations
without influence from outside.
II was decided that furm products In.
ciuding live stock. should enjoy % per
cent hotizontallncrcaseo over the present
law.
This led TO some of the Eastern mon,
bcrS TO ask for a currcsp pondiug in
crease on manufactures of iron ana
steel. THIS precpitntcd Al spirited dis
cus#ion, in which he committee divided
| pia cticaliy. on gcogra phical lines the
| Western men strongly opposing n higher
rat" than IL per cent. After some de-
batc an agreement was reached that the
agricultural schedule should he placed
in he s;'nc category as the other Schc>
| duleS--nnmcly ut u IL pcr cent hori.
"ontal increase. This was the only Sc,
rious difference of the day and ii was
speedily settled
| The sugar schedule alone is exempted
| from change 1T was deemed inexnr-
dent to include sugar In the horizontal
Increase owing To the cmbarrassmcnts
which might arise from Increasing the
diiierential duty On refined sugars.
TIC most Important change made mt
to-day's session was that relating to
carpet woods, which in the new hill Will
hc restored u the Nick inlcy rate ON
all other woods the duty will he 60 ucr
cent. of the Mckinley law. with the
compensatory duty On the manufac-
turcd product. also 90 per cent of the
previous law. TIL" duty on all grades uf
lumber will he placed at 90 pcr cent
of tho Mckinley law
The bond bill was completed to-day
ana will be sent tonight to the Gov
crnmcnt printing uiilcc. Both ii and
the revenue bill will be laid before the
fun committee at II o'clock tomorrow
morning. When the committee adj
iourns the Democratic members will
hold secret session at which they
will decide upon the policy to bc pur-
sued by them when The two mca siircs
are called up In the House Both bills
aS has been previously stated will be
presented on Thursday to the House.
The Committee OH Rules viii pass
through the House n resolution setting
aside Thursday for consideration OF the
tariff bill and Friday for the bond
measure. 1t may be said In passing
that this latter bin is understood 10 have
the approval of Secretary Carlisle and
This encourages the Republican leaders
TO believe that ii may pass the Senate
notwithstanding the prepondorancc Of
free silver sentiment in tha body. With
tho President favora bic to the propo-
sition. il is believed that the whole pow
er of the Administration Will be cxcrtcd
upon certain of the Democratic Scnn-
tors from the South with n possibility
that Il sufficient number may be secured
to juin the sound money Republicans
ana pass the measure
The bond bill is simple in it's details
II provides for the issuance Of bonds
interest and principal, payable in coin
and rcdccmablc at the option of the
Government nj the end of five years
1t changes the rate Of interest provided
in the act Of iS75, under which bonds urc
nnw issued. 10 3 per cent, which is also
the rate of interest that the $50. 000, 000
coupon cert iiiicatcS Indebtedness, which
viii he used only to mec; the deficit in
the treasury, will also bear The provi-
sion is made in the bond bill regarding
the legal tender notes
The two bills go into effect upon their
passage, ana remain In operation until
August !. 1888: