Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1895-12-27
THE GOLD RESERVE
Republicans Frame a Bill Which
Is Expected to Pass.
TO BE NO MORE GOLD BONDS
The Bill Will Provide for Coin Bonds
and Reduce the Rate OF Interest
on Other Bonds.

Washington, Dec. 22.-This promises
to be an eventful week in the house.
Before adjournment is reached next
Saturday the republican leaders intend
that a bill shall have been sent to the
senate in response to the demand of the
presidents message on Friday for some
means for relieving the treasury and
protecting the gold reserve. The repub
lican leaders determined to act prompt
ly as soon as the message was sent In.
and all idea of taking recess for the
holidays was abandoned in the face of
the situation presented. The ways and
means committee was organized yes
terday, and last night the republican
members held a secret meeting at the
capitol to discuss the details of a bill
which. in their opinion. would furnish
the desired relief.
The general outline of a measure was
practically agreed upon. but the details
have not been completed. The sentiment
was unanimous that no gold bonds
should be authorized, but that bill on
the lines of Mr.. Reeds amendment of
last year should be drawn up. and with
that should be completed some tariff
changes for the purpose Of raising ad-
dltional revenues.
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
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 1885, for the purpose Of resuming
specie payment and protecting the spe-
Gle reserve, from 4 to per cent; and,
second, for low rate, low denomination
coin bond, which would practically be a
debt certificate, to be used to supply de-
ficiencies in the revenue.
The details of tariff changes will fur
nish 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 a duty on wool and com
pensating duties on woolens. The west
ern members want the duty on wool to
be at least cents per pound, but the in
dications are that it will not exceed 5
cents.
There is some discussion of PROPOSE
ton to make a horizontal increase on all
the schedules except sugar of from Is to
20 per cent, but that Is opposed In GER
tain quarters as being not on protection
lines.
While there is, 1t is said. some differ
ence Of opinion, 1t seems certain there
will be time limit of two years or 30
months on the life of the tariff provis-
ions of the bill.
The house will probably adjourn to-
ha Of he
| ways and means committee will go to
work to perfect the details of the bill.
| 1t is hoped that it can be gotten ready
| by Tuesday, and if So 1t will probably
be passed under a special order of the
committee on rules. After the bill has
been sent to the senate the question of
whittier congress shall remain in SEES
sion for the remainder of the holidays
will remain with that body.
AS to the attitude of the democrats to-
ward the bill, it seems probable that II
will be opposed by most, II not all, of the
| democrats. The silver democrats are
not disposed to vote for any bond prop
| osition-first, because they believe there
| is another remedy in the hands of the
| executive, the redemption of notes in sill
yer. They might vote for coin bonds to
borrow money If the executive said that
money was needed to meet current ex-
penses, but as the demand for authority
to issue bonds is not based on thai
| ground their opposition to the bond
feature of the bill Is certain.
| Solid opposition of the democrats IL
looked for, but the overwhelming re.
| publican majority insures its passagt
beyond question.