The Indianapolis journal., 1895-12-23
SENATE IN The WAY.
PROSPECT FOR FINANCIAL LEGIsLA-
TON Considered HOPELESS.
Little Possibility that the Two
Branches Of Congress VIII Agree
ON Any Relief Measure.
HOUSE WILL WASTE NO TIME
BOND AND REVENUE BILLS TO BE
INTRODUCED THIS WEEK,
And Probably "Railroaded" Through
Under a Special Order from the
Rules Committee.
NO CHANCE IN THE SENATE
DEMOCRATS SAY ANY TARIFF MEAS
URE WILL BE TALKED TO DEATH,
Aud The S1vverftes NJ Roth PARTIES
VIII Oppose Any Legislation Look
ing TO the Issue OF Bonds.
And Probably "Railroaded" Through
Under a Special Order from the
Rules Committee.
NO CHANCE IN THE SENATE
DEMOCRATS SAY ANY TARIFF MEAS
URE WILL BE TALKED TO DEATH,
And the silverites OF Both Parties
VIII Oppose Any Legislation Look
ing to the Issue OF Bonds.

Special to the Indianapolis Journal.
WASHINGTON, Dec. 22-The statement
in last nights dispatch that the prospect
for remedial currency legislation was hope
less and that Congress might as we'll go
home for the holidays has not been altered
by the events of to-day. Speaker Reed and
Chairman Dingley have been in conference
nearly all day and it is generally assumed
that they have been engaged on the bill
which is to be introduced in the House to-
morrow. 1t seems to be conceded that a
tariff bin is to be introduced in conjunction
with a treasury relief bill. 1t Is hardly
worth while to discuss the details of any
such bills. What is true Of bond bill in
the Senate is equally true of a tariff bill
only more so. A duty on wool will be fought
to the death in the Senate. ANY proposed
tariff legislation would demand calm con-
sideration," was the diplomatic way in
which Senator German announced the DEM
ocratic programme of obstruction, which
Senator Harris expressed more openly, with
the statement that any bill contemplating a
duty on wool would be still under debate a
year from next Christmas. 1t matters moth
ing If the bin passes the House tomorrow
under suspension Of the rules. 1t will be
talked to death in the Senate. The situation
resolves itself to this: If the Republicans
pass simple bond bill in the House. then the
free silver men in the Senate, Democrats
and Republicans, will kill it; IL they pass q
bond bill with tariff rider. the Democrats
in the Senate will kill 1t. Hence the num-
Der Of Representatives il constantly grow
ing who frankly urge an adjournment for
the holidays. since all action by the House
must remain barren OF actual result.
SPEAKER REEDS PLAN.
An Associated Press dispatch says: This
promises to be an eventfuI week in the
House. Before adjournment Is reached next
Saturday the Republican leaders Of the
House intend that a bin shall have been sent
to the Senate in response to the demand
OF the Presidents message OF Friday for
some means OF relieving the treasury situ-
alton and protecting the gold reserve. The
Republican leaders determined to act
promptly as soon as the message was sent in
and all idea Of taking a recess for the holi-
days was abandoned in the face of the
situation presented. The ways and
means committee was organized yes
terday and last night the Republican men,
bers held a secret meeting at the
Capitol at which Speaker Reed was
present, to discuss the details of bill
which, in their opinion, would furnish the
desired relief. AS preliminary, it was
ate, as to the fate there of any measure
passed by the House, should be kept in
mind, the House must act independently Of
the result in the upper branch OF Congress
The general outline of a measure was prac-
tically agreed on, but the details have not
been completed. The sentiment was unan-
imous that no gold bonds should be author
lied, but that a bill on the lines of Mr..
Reeds amendment Of last year should be
drawn up and with that should be coupled
some tariff changes for the purpose OF
raising additional revenue. Last winter the
Republicans took the stand that the menace
to the gold reserve was caused primarily
by the lack of revenue to meet the expenses
of the government and that Is still their po-
sition.
Mr.. Reeds bond proposition. which the
committee will adopt, provides first, for the
reduction Of the rate Of interest on bonds
to be issued under the acts of 1870 and 1876
for the purpose of resuming specie payment
| and protecting the specie reserve from 4
| to per cent, and second, for low rate,
low UNCONVENTIONAL coin bond which would
practically be debt certificate to be used
to supply DEFICIENCIES in the revenues. BY
the terms of the bill 1t is probable that pro-
| visions will be inserted specifying that the
| of 1870 and 1876, as amended, shall go to the
| reserve and the proceeds of the
proposed new bonds to pay cur
| rent expenses. In this way a separate ac-
count can be kept and the proceeds of bonds
| sold to maintain the reserve cannot be used
| to pay current expenses.
PROPOSED TARIFF CHANGES.
| The details OF the tariff changes will
furnish the most difficult task in framing
| the bill. There is practical unanimity of
sentiment, so far as can be learned among
| the Republican members OF the committee.
| for duty on wool and compensating dut-
| les on woolens. The Western members want
| the duty on wool to be at least s cents
per pound, but the indications are that
| it will not exceed cents. There is some
| discussion of a proposition to make a hori-
zontal increase on all the schedules except
| sugar of from Is to 20 per cent, but that
| is opposed in certain quarters as being not
on protection lines. 1t seems probable.
| therefore. that wool and woolens. lumber
| and various other articles will be selected.
While there is. 1t is said, some difference
of opinion on this point, 1t seems certain
that there Will be time limitation OF two
years or thirty months on the life of the
| tariff provisions of the bill. The point will
| be made that IL Is an emergency measure
for raising revenue and. therefore. could
| meet with the approval of all who believe
that the treasury needs additional revenue
no matter what the individual opinions may
be regarding protective duties.
The House will probably adjourn imme-
diately tomorrow anG the Republicans of
the ways and means committee will go to
work to perfect the details of the bill. 1t
Is hoped that IL can be ready by Tues
day and IL so it will probably be passed
under suspension of the rules. Speaker Reed
and his lieutenants are not disposed TO
brook delay. They believe the House should
do its duty promptly. After the bill has