The Providence news. (Providence [R.I.]) 1891-1906, 1895-12-26
NO PARTY PLAY.
PROTECTION PRINCIPLES WAIVED.
Detailed Statement of the I'M
pprtant Points Involved.

WASTING GTOv, Dec. 26.--The house ways
and means committee devoted several
hours Yesterday to a rlal consideration OF
the two reverue bills which were presented
20 the house today lPrnted copies of the
bills were laid before the full committee,
the plan being announced TO the Demo-
cratic members for the q rst time.
The bills We're form al y adopted rs COM
,nittee measures, motin ms TO lay them on
the table being overrnl ed by party votes.
Each bill was read by sections, and mo-
lions were made by the Democrats to
strike out each section, which, OF course
failed to carry. 1t was oted TO give today
X 70 the consideration of the tariff bill by
4 the house and toIuorro W TO the bond bill,
with vote on each at q 10 end of the days
debate upon IL.
The Democrats ende avored to secure
! three days debate, to gain a postpone
ment OF two or three days in which to
study the probable effec, of the measure
/ II enacted. also TO have the bond bill de-
bated before the tariff bill, but the Repub
| licans adhered to their o5 ginal arrange
. ments.
Chasrman Dingley stated to the COM
| mtfee that the bills were not framed as n
| Republican measure, but rs one calculated
| TO save Ahe credit OF tho government,
| which, according to the presidents mes
eage aud TO personal communications
made by SeoEetary Carlisle To members,
was endangered. Tho condition OF the
treasury, from their epre.pntations, de-
ynanded Immediate action, and the Repub-
licans had prepared emergency bills on
lines which seemed most exl,edient.
Mr. Dingley laid particular stress on the
assertion that the first bill did not con-
stitute and was not intendedlf for revision
Of the tariff. Consequently, there was TO
necessity for long discussioA of the bill.
The Wilson act had been taken as the
basis for the tariff bill. An estimation of
the probable increase Of revenue TO be de-
rived from the tariff bill had been made,
based on ,mportations under the Wilson
act In 1894 Thds showed probable in
creased revenue of $40 Ooo, coo, which about
equnIized the deficit OF the past year
e12. .0O0, 600, IL was estimated, would be de-
rived from the increase on raw wool; $l4,-
00o 900 from manufact ured woods, and $l4,-
100000 from the Is per cent horizontal ad-
vance on other schedules.
Party Principles Laid Aside.
The Republicans had waived their pro-
lection principles for the time in prepar-
ING these bills, said Mr.. Dingley. "They
hoped President Cleveland would waive
antagonistic views that he might hold and
sign the bills"
One OF the Democrats asked why the
Republicans had not gone 10 the full ex-
tent of the Mckinley bill, to which Mr.
Dlngley replied that they would do SO IL
they had the power. The Democrats on
their part contended that the effect OF the
bond scheme would be TO retire the green
hacks by holding them in the treasury,
and said the Republicans proposed 10 do
Indirectly just what the president had
recommended and what they (Republi-
cans) denounced. The tariff bill, they
claimed. was strictly Republican meas
ure, and a measure for which President
Cleveland had not asked.
Mr.. Mcmillan asserted that there was
no nccd for additional revenue, as the
treasury statement showed cash balance
of Sl70,0t0.000.
Mr.. Dingley replied that $40, ,O00, 900 OF
this was in greenbacks, which had not
come in as revenue, but had been re-
deemed by gold. While on their face they
constitute part of the cash balance, TO pay
them would continue the endless chain.
The Republican plan would provide for
the expenses OF the government without
encroach!ng on the gold reserve or en-
ploying redeemed greenbacks.
Amendments were offered by Mr..
Turner, TO strike out the second section OF
the bond bill providing for treasury certi-
ficaies of indebtedness, and by Mr.. Nc
MILAN, to make these certificates subject
10 taxation, as are greenbacks and other
currency. Both were lost, but Mr. Tars-
ney voted with the Republicans against
Mr.. Turner's amendment.
Chairman Dingley will present n report
explanatory of the bills. The Democrats
any that they have not time TO prepare a
minority report.
NJ Bill No. 1, submitted 10 the full COM
mittce, Is tho bond BILL and authorizes the
secretary of the treasury at his discre-
tion TO issue per cent b-year coin bonds
for the redemption Of United States legal
tender notes, and for no other purpose, the
bonds 10 be fioated by public subscription
IL also authorizes the issue of not over
5000 900 Of 3 per cent 3-year certificates
Of indebtedness in denominations Of ST.
and multiples thereof, lawful money Of
the United States to be taken in payment
therefor. The proceeds OF these sortil-
Gates shall be used only to supply tempo
rary deficiencies.
The tariff bill imposes a duty Of 90 rsr
cent Of the Mckinley rates on lumber,
wool and woolens, except that carpetings
get higher duty The duties on articles
included In schedules A, B, G, ID, f, q.
II, I. ], J., NJ and n Of the present tariff
law are raised 10 per cent all round, save
that no duty shall exceed the Mckinley
rate, nor any increase take effect II the
present rate is higher than the Mckinley
rate.
Text Of the Bills.
No. IA bill TO maintain and protect
the coin redemption fund, snd to authorize
the issre OF certificates Of Indebtedness 10
meet temporary deficiencies OF revenue.
BE 1t enacted, eto, That in addition TO
the authority given TO the secretary Of the
treasury by the act approved Jan. IL, 1915,
entitled "An act TO provide for the resump-
tion OF specie payments" he is authorized
from time to time. at his discretion, TO
Issue. sell and dispose of at not less than
par Ina coin, In coupon on registered bonds
NJ IN. fad a..