The record-union., 1895-12-25

WASHINGTON, Dec. 24-'Let the
country understand" said a prominent
Republican member of the Ways and
Means Committee to a United Press
reporter to-day, that the bill we shall
present to the House on Thursday is
a pure revenue measure, hurriedly pre-
pared to meet the eXigency in our ma
tional finances, and in response to the
Presidents plea that some measure for
relief must be afforded by Congress.
There has been no attempt at tariff re-
vision. Our measure is purely rev.
enue measure
The correctness of this declaration
was shown by the action Of the com
nittee to-day in declining to hear Judge
William Lawrence of Ohio President
of the National Wool Growers Associa
tion, who desired to be heard in sup
port of a higher rate on wool than that
previously agreed upon. Repeated ap-
plications have beeen made to the COM
mittee in its collective and individual
capacity from Eastern manufacturers,
who have deprecated hasty action in
the preparation of the bill, that d
postponement in its preparation be had
until their arguments could be pre-
sented. To all these applications the
committee have turned a deaf ear, and
the bill will have the unusual distinc-
ton of being presented to the House
as the sole result of the committees
labors unin1uenced by outside consid-
Grafton.
At this afternoons session of the Re-
publican members of the committee
several changes were made in the rates
agreed upon yesterday. When an ad-
journment was had at 3 o'clock the
framework of the bill had been COM
pleted, and nothing remained but 20
put it in proper form. At yesterdays
meeting it was decided that farm pro-
ducts, including live stock, should en-
joy % per cent. horizontal increase
over the present law, because of the
ruinous competition which the granger
element along the northern frontier
claimed to suffer from their Canadian
neighbors across the line.
This led some of the Eastern members
to ask a corresponding increase on
manufactures of iron and steer. This
precipitated a spirited discussion, in
which the committee divided, praeti-
cally on geographical lines, the Western
men strongly opposing a higher rate
than 10 per cent. After some debate
an agreement was reached that the
agricultural schedule should be placed
in the same category as the other
schedules, namely, at 10 per cent
horizontal increase. This was the only
serious difference of the day, and it
was speedily settled
no
empted from change. 1t was deemed
inexpedient to include sugar in the
horizontal increase, owing to the en-
barrassments which might arise from
increasing the differential duty on re-
fined sugars.
The most important change made at
to-day's session was that relating to
carpet wools which in the new bill will
be restored to the Mckinley rate. On all
other woods the duty, as stated in the
United Press dispatches last night, will
be 80 per cent. of the Mckinley law,
with the compensatory duty on the
manufactured product, also 60 per
cent. of the previous law. The duty on
all grades of lumber viii be placed at
90 per cent. of the Mckinley law
The bond bill was completed to-day,
and will be sent tonight to the Gov
ernment Printing Office Both it and
the revenue bill will be laid before the
full committee at II o'clock tomorrow
morning. When the committee adjourns
the Democratic members will hold
secret session, at which they will decide
upon the policy to be pursued by them
when the two measures are called up
IN the House. Both bills, as has been
previously reported, will De presented
TO the House on Thursday.
The Committee on Rules will report
and pass through the House a resoIu-
ton setting aside Thursday for con-
sideration of the tariff bill and Friday
for the bond measure. 1t may be said in
passing this latter bill that it is under
stood to have the approval of Secre-
tary Carlisle, and consequently of the
President as well This encourages the
Republican leaders to believe .s.at it
may pass the Senate, Notwithstanding
the preponderance of free silver senti
ment in that body. With the President
favorable TO the proposition, it is be-
lieved that the whole power Of the Ad-
ministration will be eXerted upon Ger
tain OF the Democratic Senators from
the South. with a possibility that a
sufficient number may be secured to
join the sound d-money Republicans and
pass the measure
The bond bill is simple in its details
It provides for the issuance of bonds
interest and principal payable in coin.
and redeemable at the option of the
Government at the end of five years.
1t charges the rate of interest pro-
vided in the Act of 1875. under which
bonds are now issued, to per cent,
which is also the rate Of interest that
the $50,000,000 coupon certificates of
Indebtedness, which will be used only
to meet the deficit in the treasury, will
also bear. No provision is made in the
bond bill regarding the legal tender
notes. The bill, by simply separating
the redemption fund from the general
assets of the treasury, puts it in the
power of the Secretary of the Treasury
temporarily to isolate the legal tenders
when redeemed. The two bills will go
into effect upon their passage. and re-
main in operation until August /. 1898.
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ANGLo-AMsRICAN CRISIS.