New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-27
THE REPORT ON THE BILLS


PRESENTED BY THE MAJORITY OF THE
WAYS AND MEANS COMMITTEE.
THE CAUSES WHICH MADE THE TARIFF AND
BOND MEASURES NECESSARY AND THE
MOTIVES WHICH ACTUATED THE
REPUBLICANS IN FRAN
ING THEM.
Washington Dec. 26.-The report of the majority
OF the Ways and Means Committee on the Tariff
and Bond bills is as follows:
The Committee OF Ways and Means to whom ives
referred SO much of the Presidents annual mes
sage and much OF the annual report OF the Seere
condition of the Treasury and also the President
special message presenting the urgency o, To
bring relief report that the committee apprs iat e
the seriousness Of the situation and the ,mpor'1h ve
OF prompt remedies. far as Congress can sNo
Your committee regard the CHRONIC deficiency OF
revenue for the last two years and half as most
potent cause Of the difficulties which the Treas
s hss an an Of
which has para.yzed business and dangero .i
s 81 Ss eVfa is as f
eminent TO have continuous denT,enGy t,ng its
financial standing. it is for an individual - !, KS Is
sio for sasSs shadow Of doubt
encouragement over all business ope'a'o"7 "'''''
The serious fact which are sailed upon to .
is that sr in the v two ass h hs
has had an insufficency OF revenue to meet cur
,ssa, esDs3Se'A nd sven S The 'af s'
present fiscal year he denciencE VIII nesent month
10 20 and sss aG Sresent Tine there s IS no sucen
ground for 9Pnns that ts this rsmads of q the
year; and how much longer no one can saie'' pre-
oe' THAT ENDLESS CHAIN"
deficiency
we're only the necessity of borrowing money to get
current expenses in the time of peace. even ms
would afford abundant reason for increasing tne
revenue; but the consequences are more "ioe-reaoi
ing than that Insuficiency of revenue mas mace II
necessary to the redeemed United states eg S
tender notes pay current expenditures anG ' dS
10 supply additional means to draw 600 rom o,e
gre eaSess eham of which the Of the
Treasury complains and which has mace ~ n mt
essary sell issue after issue of BONDS 10 repeS"
~" This viii be clearly when Is n.sa asS
so n an" little over ss2 ocC0 Of cent tenye ar
sas realized 4fs fea about and after rdeemng
ss2 10000 OF United States egaender notes wl an
out siss Of these demand notes to meet eur cur
snt Of aH demana to be
again used to draw gold from the t revenue
this performance will so on, and bond sale a IKE,
bond sale will be required II Is also evident b snse
redeemed iegai-trnder notes would not have been
paid ont at and there e, T STaW cod from the
Treasury Indeed there Is good reason TO o @bcS
natglrated the run on the redemption fund, the
Treasury had been receiving revenue more man
TO mold the redeemed Government notes. the dis.
pS TO soon BEEN That would have
undoubtedly been the case II the redemption iunu
allowed TO fall below the 800 100000 minimum And
the necessity for more revenue from the point Of
not taken away by the fact that We have ssoODm
q cash the Treasury IN or ADDITION b qed tE af nd
and the twenty odd millions REQUIRED as i o %orkins
deemed deemed United States iegaitendeT notes for whose
redemption borrowed s5Ooooooo in gold II we we
TeVen"s then Ra presently they VIII back again
%e d mHs supply By FG
The suggestion Therefore that We need 70 sTS5e
coo Of Government notes in the Treasury that can
be used to pay any eec pSop6 5sH ne$ to 4 e
more bonds to meet deficiency which should be
In at other Ur'S words those who oppose raising
revenue in such situation in eec,wnether ney
ence TO paying as we go along
THE DUTY OF THE HOUSE.
Your committee believe that it is the duty of the
House of Representatives.. to which body the Con-
stituton commits the Inauguration OF revenue bills
TO frame and pass a measure that will yield not far
ciency"and 10 do this without delay too-ieaving
TO others, whose cooperation is required finally to
the responsibility in their own way. And the Pres-
dents SPECIAL message age setting forth S SO Poned
for the promptest action. only emphasizes the duty
In response to the urgent call Of the President
your committee have felt impeed TO act with all
intee 10 look to an increase Of customs duties as
the most appropriate source of additional revenue
Ing disproportionate amount from internal reve-
took the ground r. that
taxes should not be resored TO by the Federal Gov
and the Democratic National Convention main
the fact that by increasing customs duties on i'm.
ported articles which we can and ought to produce
dustries and materially aid in turning in our favor
against us all through this calendar year and
whch has caused demand for gold for export
For so long as the balance OF trade is against us on
!what is the same thing) promise to pay gold to pay
for the excess OF imports over the exports.
revision the sr mo- pro
sa uch @ YOU'D san
no chance OF becoming law but also because
and the need is more revenue at once We believe
however, that this need OF more revenue is great
dutiable list and taking from the free list Of the
present tariff a few articles that were always on
have always been important revenue producers
SS INVITING Md sns Of sHfa the to
hciency OF revenue is overcome ought to receive
tective duties patriotic grounds: and that the
fact that IT may incidentally encourage the pro-
ducton of many articles that require at home
instead OF abroad win not be regarded as ground
OF opposition under present circumstances.
SPEEDY ACTION NECESSARY.
In framing the bill submitted for your considera-
ton it has been necessary II action was to be taken
promptly. to resort TO a considerable extent to a
horizontal raise of duties for the reason that it
would have required months TO deal with each art-
Gle separately. Horizontal dealing with tariffs can
not be justified in ordinary times, but in such an
exgency as exists now. so serious that the Pres-
dent felt IL his duty TO send q special message
Of extreme urgency and especially for limited
time IT is not only defensible but is the only alter
native.
But while we have presented in the brief measure