The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-12-26
BOND AND TARIFF BILLS.
Chairman DingIey Makes a Statement
Concerning Them.

WASHINGTON, Dec. 2o.-Chairman
Dingley of the ways and means COM
mittee made the following statement
last night: 'sThe revenue bill Is not
il nded to be tariff revision, but
simply an exigency bill to raise about
$40, 900, 900 of revenue deficiency. The
main object is revenue. although in
cidentally the increases will help
American industries to some extent.
The bill Is limited to two and half
years, the expectation being that by
that time the Republicans will be in
full power and able to revise the tariff
on their own lines. Woods are taken
from the free list, and clothing woods
given duty of ga cents $50 per cent
of the duty provided by the act of
1890, and wooden goods are given e.
specific compensatory duty, 60 per cent
of what they had under the act of 1890,
in addition to the advalorem duty
of the present law. Carpet woods are
placed where they were under the act
of 1890, and the same specific duty
given to carpets as under the act of
1890, in addition to the ad volorem du-
ties of the present law. The articles
of lumber placed on the free list of the
tariff of 1890 are transferred to the
dutiable list, with so per cent of the
duty that they had under the act of
1880. Then all of the other dutiable
schedules Except sugar, which is not
touched), have all the duties raised Is
per cent The committee had not the
time to treat articles separately, and
hence a horizontal increase became
necessary as to all articles now on the
free list.
1.-The bond bill," added Mr. Dingley,
''gives the Secretary of the Treasury
authority to issue per cent FIVE
year coin bonds to maintain the re-
demption fuD@ in addition to the
authority he w possesses, but pro-
vides that the -oceeds of all bonds
sold under this : and under the re.
sumption act shall be used only for
redemption purposes. It also pre-
vides that all bonds shall be first Of
fered to the people of this country.
The bill also authorizes certificates of
Indebtedness bearing per cent in
terest and payable within three years,
to be issued, to meet any temporary
deficiency of revenue. The only OBJ
ject of the bond bill is to reduce the
rate of interest and the time to run as
the bonds which the Secretary is not
authorized to issue bear or per cent
| interest The bill practically sepa-
rates the redemption fund from the
! cash IN the Treasury, and is intended
to put stop to the practical use of
proceeds of bonds to meet the defic-
iency in the Treasury"
The House ways and means commit
tee devoted several hours of Christmas
to a final consideration of the two
revenue bills. The bills were formally
adopted as committee measures, mo-
tions to lay them on the table being
overruled by party votes. 1t was voted
to give Thursday to the consideration
of the tariff bill by the House and
Friday to the bond bill. with vote
on each at the end of the days debate
upon it. The Democrats endeavored
to secure three days debate; to gain a
| pOstponement of two or three days in
which to study the probable effects of
the measures, if enacted; also to have
the bond bill debated before the tariff
bill; but the Republicans adhered to
their original arrangements