Daily Kennebec journal., 1895-12-27
Emergency Bills.

The ways and means committee of the
national House passed Christmas day in
perfecting. The plans for emergency legis-
lation, the text Of the bills prepared is
given below. These bills are intended to
provide necessary revenue, and to place
the United States treasury in condition
of safety, condition where it shall no
longer be a menace to the financial in
terests of this country. The tariff
measure does not represent the Republi-
can party's policy of protection, as to
by men of long experience in tariff legis-
lation. The situation does not admit OF
tariff hearings and consequently none
have been granted. This is eminently
wise. This revenue measure if passed
and signed would terminate in 1898. 1t
assumes to be nothing more than a bill
to provide needed revenue on protective
tariff basis.
Under the circumstances the hostile
attitude of the Democratic members of
the ways and means committee and of
leading Democratic newspapers is calcu-
lated to excite intense Indignation. A
Democratic administration has dared to
take a patriotic stand upon the Monroe
question, although at the same time
making the mistake in assuming that
of
erent words, thereby exciting an onslaught
upon American securities. Alarmed at
what he had done and wishing to shift his
responsibility upon Congress he gave
another message to the public in which
he still further excited public distrust.
If he told the truth our finances are in a
bad way and the treasury gold reserve
must be restored. It is evident notwith-
standing the undoubted ability and de-
termination Of the United States to main
tain its credit, that money must be had
and had Immediately Already the
President, assuming that Congress will
not be wise enough to give him oppor
tunity to issue bonds under the most
favorable conditions, is said to be making
arrangements with members of the recent
bond syndicate He realizes that his
theory about greenbacks cannot be of any
avail in this present emergency, and that
was all he had to offer in way of sugges
tion.
Mr.. Dingley in the committee meeting,
Wednesday, pointed out that Of the money
which is now in the treasury seventy
millions is in greenbacks, which at this
time it is inexpedient to pay out in meet
ing expenses, as must be done unless
more revenue is supplied. 1t is lack of
revenue that has made the greenbacks an
"endless chain" Unless there is more
revenue the government may go on buy.
ing bonds indefinitely SO long as there is
any demand for the gold in the reserve.
There has not been so great need of full
treasury since the Rebellion as now
exists If the country is to support the
President it must have money We can.
not tnlnk that anyone. who has given the
subject careful study believes that the
present tariff will provide adequate rev
enue. The reception given the Presi
dents message and the report of Secre
tary Carlisle indicates general unbel ief il
their conclusions. These documents have
been critically examined and it has beer
conciusively shown that not only is ther,
no protection for the gold reserve but tha
/, there is no probability that there " ill b.
sufficient revenue for ordinary expenses
And yet President Cleveland and Secre
tary Olney have made it necessary, if W
would be ready for the result fore
shadowed in the Presidents warlike mes
sage, to have an ample revenue for g,
traordinary expenses. 10 refuse 70 nrov;d
for such an emergency ID 10 imnlv tbe