Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1895-12-23
RUSH IS THE WORD
Regarding the Desired legisla.
ton on Finances.
HOUSE WILL BURN NO DAYLIGHT"

Outline. Of . Bill That VIII Probably Be
sent to the Senate and the Reception Il
Is Likely to Meet Thsre-Apparent Ma
Jority I'm That BODY In Favor Of Radical
silver Enactments and Opposed to Bonds
Of Any sort-Houss Committees.
WASHINGTON, Dec. 23.-This promises
70 be IN eventful week in the house.
Before adjournment Is reached next
Saturday the Republican leaders Of the
house intend that bill shall have beea
sent to the senate In response to the de-
mand Of the presidents message for some
means Of relieving the treasury situation
and protecting the gold reserve. The Re-
publican leaders determined to act
promptly as soon ms tho message was
sent In, and all idea Of taking a recess for
the holidays was abandoned in the face
Of tho situation presented. The why's and
means committee has been organized and
Saturday night the Republican members
held secret meeting mt the Capitol, at
which Speaker Reed was present, to dis
cuss the details Of n bill which, in their
opinion. would furnish the desired relief.
As preliminary 1t was decided that while
the situation in tho senate as to the fate
there Of any measure passed by the house
should be kept in mind the house must act
branch Of congress.
Points of the Republican Proposal.
The general outline Of measure was
agreed upon, but the details have not been
completed. The sentiment was unani-
nous that no gold bonds should be author
izcd, but that n bill on the lines Of Reeds
amendment Of last year should be drawn
up, and with that should be coupled some
tariff changes for the purposes Of raising
additional revenue. Last winter the Re-
publicans took the stand that the menace
to the gold reserve was caused
primarily by the lack Of reve-
nue. to meet the expenses Of the gov.
ornmcnt, aud that Is still their POSI-
ton. Reeds bond proposition, which the
committee will adopt, provides for the re-
duction Of the rate Of interest on bonds to
be issued under the acts OF 1870 and 1875
for the purpose Of resumng specie pay
ment and protecting the specie reserve
from to 3 per cent. and for low rate,
low denomination bond which would
practically be debt rtificate to be used
To supply deficiencies In the revenues.
Unanimous for Duty ON Wool.
by the terms Of the bill it is probable
that provisions will be inserted to provide
that the proceeds Of any bonds issued
under the acts Of 1870 and 1875 rs amended
shall 20 To the reserve, and of the latter
bonds to pay current expenses. In this
why u separate account can be kept and
the proceeds Of bonds sold to maintain tho
reserve cannot bc used to pay current ex-
penscs. The details of the tariff chany yes
will furnish the most difficult task i'm
framing the bill. There is practical unan-
unity of sentiment so far as can be- learned
among the Republican members of the
committee for u duty on wool and COM
pensating duties on woolcns. The western
members want the duty on wool to be ut
least cents per pound, but the indica.
tinos nrc that 1t will not exceed 5 cents.
Isuiit To Catch All Sorts OF People.
There Is some discussion of u proposition
to make u horizontal increase on all the
schedules except sugar Of from Is to 10 per
cent but this Is opposed in certain quar-
ters as being not ON protection lines 1t
seems probable, therefore, that wool and
woolens, lumber, and various other arti-
clcs will he selected. While there is some
difference Of opinion on this point 1t seems
certain that there will bc a time limita-
tion Of two years or thirty months on the
life Of the tariff propositions Of the bill
Tho point will bc made that II Is an emer-
gcncy measure for raising revenue, and
therefore could meet the approval Of all
who believe that the treasury needs addi-
tional revenue, no matter what the indi-
vidual opinions may be regarding protcc-
tive duties. Republicans on the ways and
means committee will 60 to work ut once
to perfect the details of the bill.