The times. [volume] (Richmond, Va.) 1890-1903, 1895-12-24
INCREASING THE TARIFF.
Revenue Bills Which the ways an"
Committee VIII Report.


were occupied by the Repupncan "e"'
bors OF the Ways and Means Comh'''ee
this afternoon IN preparing measure OF
relief for the Treasury Department.
There was a satisfactory unanlmity OF
opinion among the members as 10 'ne
course to be pursued. .
Naturally the first suggestion was 10
secure revenue I'm the line OF republican
nolicv which is by duty on imports.
when the conference ended very mate
rial amendments were made TO the pres
ent tariff law, which II Is esumateu
will increase revenues about Sio,W"'VW
annually Another measure, Wnich Il sun
Incomplete. will also be reported AT 'ne
same time looking 10 an issue OF pohus
and certificates of Indebtedness bearing
a low rate of interest to meet the present
emergencies.
The two measures will not be amaisa-
mated but will be brought before the
House separately. This conclusion dif-
fers radically from the sentiments eh-
pressed nj a secret caucus OF the Repubil-
can members held at the Capitol on sun
dav night last At that time nearly all
the Republicans present favored one gem
eral bin. which IL was contended shouid
stand or fall with the Senate and the
President upon its merits.
To-day. however, the disposition was
so general to report two dinerent meas
ures that the agreement was reached
without delay.
The reason for this was obvious. IL
was explained by some Of the members
present that the silver Republicans In
tho House and Senate would vote with
their party on the tariff measure, while
they would be forced, by the very nature
of things. 10 oppose the bond features or
the measure.
IL was primarily TO secure the support
of the silver Republicans and not put
then i'm an antagonistic position TO their
party that the decision was reached 10
divide the two propositions.
The two bills will be reported 10 the
House on Thursday of this week, and
will be passed with little delay
one, and possibly two days, may be de-
voted to their consideration. but IL Is not
improbable that they will be passed be-
fore the close OF the session Thursday.
which may be prolonged 10 extend the
time for discussion.
Tho substantial features OF the tariff
biN arc these.
Making 50 per cent. rate on wool,
with a go per cent compensatory duty on
manufactured cloth over the act OF 1894.
go per cent rate Of duty over the 1890
law Mckinley on lumber.
% per cent. increase over the act Of
1924 CWilson bilD on live stock. cereals.
and dairy products and a horizontal. and
an Increase Of 10 per cent i'm rates in all
other schedules I'm the law of 1890
I'm this connection a proviso is added
that i'm no case shall the rates OF duty
exceed those OF Mckinley law
except In case where the pres-
ent rates Of duty are higher than
those Of the Mckinley tarin law The
proposed amendments will remain I'm cf-
feet until August. 1898.
The increase of duty on farm products
was made m the request of the mem
bers representing distinctively agricultu-
raj States their contention being that
the present law Is ruinOus TO their gran
ger constituents.
The accompanying bill provides for an
issue OF per cent five-year bonds TO
protect the gold reserve I'm the Treasury,
with a proViso that the currency re-
deemed by the bonds shall be paid out
while "A deficit exists I'm the Treasury
This differs from the original purpose of
the Republican leaders. which was TO
give authority TO the Secretary OF the
Treasury 10 issue a per cent. bond as a
popular loan to maintain the gold re-
serve. and for no other purpose, with n
pi"Ni'" 'ndt ih' Teueehet Rtccubacks
shall not be used TO meet current ex-
penses but be retained as long as neces-
sary as part OF the redemption fund .
authority 10 issue TO national banks cir
cuiating notes up 20 the par Of the bonds
deposited as security therefor and 10 re-
duce the tax on national banks circula-
tion. and authority for the issue OF certifi-
Gates or indebtedness 10 meet temporary
deficiency In receipts.
In addition 10 the sale Of bonds the
bin will also authorize the Secretary OF
the Treasury to issue certificates Of in
det;euness bearing per cent. interest
not TO exceed SO,GO000 In amount. to
meet urgent deficiency in the revenues.