The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-12-26
cent horizontal advance on other

One of the Democrats asked why
the Republicans had not gone to the
full extent of the Mckinley bill, to
which Mr.. Dingley replied that they
would have done so if they had the
power. The Democrats on their part
contended that the effects of the bond
scheme would be to retire the green
backs by holding them in the treasu-
ry, and said the Republicans proposed
to do indirectly just what the president
had recommended and what they (the
Republicans denounced. The tariff
bill, they claimed, was a strictly Re-
publican measure and for which Pres
ident Cleveland had not asked.
MI. Mcmillan said there was no need
statement showed a cash balance OF
$170, ,00O
Mr.. Dingley replied that S7OOOO,00O
of this was in greenbacks which had
not come in as revenue, but had been
redeemed by gold. While on their face
they constituted part of the cash bal
ance, to pay them would continue the
endless chain. The Republican plan
would provide for the expenses of the
government without encroaching on the
gold reserve or employing redeemed
greenbacks.
Had Not Time.
Turner to strike out the second section
of the bond bill, providing for treasury
certificates of Indebtedness and by Mr..
Mcmillan to make these certificates
subject to taxation as are greenbacks
and other currency. Both were lost.
Chairman Dingley will present a re-
port explanatory of the bills. The
Democrats say they have not had time
to prepare minority report
Two Bills.
The two bills. to be presented TO the
HOUSE, sspha9rseY and their text is as 9
.SNo. I-A bill to inailtaint and pro,
teet. the coin, redemption fund, and tp
atffhorize the issue of certificates OF
Mdebtsar1ess to meet teEnporarySdefi-
ciencies of revenue Z IL
b r'Ba-it enacted, etc, that in addition
to the authority given to the secretary
| of the treasury by the act approved
january IA, 1875, entitled an act to;
provide for the resumption Of specie
payments he is authorized from time
to time, at his discretion, 20 issue, Sefl.
and dispose of at not less than par, IN
COIN coupon or registered bonds OF the
!. United States to an amount sufficient
for the object stated in this section,
bearing not to exceed per cent inter
and redeemable at the pleasure OF the
United States, in coin, after five years
from their date, with like qualities,
privileges and exemptions provided in
said act for the bonds therein autnor-
lied.
And the secretary of the treasury
shall use the proceeds thereof for the
redemption of United States legal ten
der notes and for no other purpose
+11eA aTeftaTV of the treas
ury shall offer amy of the bonds au-
thorized for sale by this act, or by the
resumption act of 1875, he shall adver-
tise the same and authorize subscr1p-
tions therefor to be made at the treas
ury department and at the sub-treasu-
cries and designated depoSitor1es OF
the United States.
The Temporary Deficiency.
Section 2-That to provide for the
temporary deficiency now eXlStlng OF
which may hereafter occur, the secre-
rary of the treasury is hereby author-
lied, at his discretion, to issue certlh-
Gates of Indebtedness OF the Unlted
States to an amount not exceeding
fiftv millions of dollars, payable IN
thrda wears after their date, to the
bearer, in lawful money of the Urlted
States. of the denomination OF twenty
dollars, or muFtiples thereon, Wluh aruIu
al col1nons for interest at the rate OF .
per cent per amnum, and to sell ANA uls-
nose of the same for not less imam dli
eo1ral amount of lawful money Oh uile
United States at the treasury uePel =
ment. and at the sub-treasuries ana
designated repositories of the UNITED
States. and at such postofhces as ne
NAV select. And such certificates shail
have like qualities, privileges ana eA-
ernntionts provided in the resumption
act for the bonds therein authorized,
And the proceeds thereof snail De useu
for the purpose prescribed III uilis sec
ton and no othef. .,. ~
Bill No 2, q bill to Temporarily III
crease the revenue to meet the e4-
penses of the government anu Pi0' iN-
against a deficiency.
ssBe it enacted, etc, that from anu
after the passage of this act and unlil
August /, 1898, there shall be leVleu,
affected and paid on all imported
woods of classes one and two, as de-
fined in the act hereinafter clteo' APP
proved October l, 1890, and supJect 10
all the conditions and limitations
thereof. and on all hair of the camel.
coat alapaca and other garnetted
animals. except as hereinafter pro-
vided. and on all noils. shoddy, gar
Melted waste, top waste, slubblng
waste. rowing waste, ring waste, yarn
waste. and all other wastes composed
wholly or in part of wool, and ON all
wooden rags, mungo and hocks, a
duty equivalent to 60 per cent. OF the
duty imposed on each of such articles
bv an act entitled IAN act to reduce the
revenue and equalize duties on imports,
and for other purposes, approved
october l, 1890, and subject to all the
conditions and limitations of SAID act
and on all woods and Russian camefs
hair of class 8, as defined in said act,
approved October 1, 1890, and subject
TO all the conditions and limitations
thereof, there shall be levied, collected
and paid the several duties provided
nv the said act approved October l.
1890. and paragraph 279 OF schedule K,
and also paragraph 6S5 in the free list
i'm an act entitled IAN act to reduce
taxation. to provide revenue for the
government, and for other purposes,
which became a law August q, 1894,
and hereby suspended until August l,
1898.
Section 2.-That from and after the
massage of this act and until August l.
1898. there shall be levied, collected and
maid on all imported articles, made in
whole or in part of wool, worsted, or
other material described in section
of this act, except as hereinafter pro-
vided, 60 per cent. of the specific pound
of square yard duty imposed on each
of said articles by an act entitled IAN
act TO reduce the revenue and equalize
duties on imports and for other pur-
poses." approved October l, 1850, and
r,,t,;oo+ ~ IL tba conditions and lifnita-