St. Paul daily globe., 1895-12-25
REPUBLICANS REVISE THEIR
BOND AND REVENUE MEAS
URES.
NO CHANGE ON SUGAR DUTY.
BREADSTUFFs AND LIVE STOCK
IN THE HORIZONTAL PRO-
VISION.
REDUCED INTEREST RATES.
Principal Issue to Garry Three
Per Cent, Payable in Three
Years if Desired.

WASHINGTON, Dec. 24.-The Re-
publican members of the ways and
means committee held another confer
| ence this afternoon and decided upon
several changes in the two revenue
bills which will be introduced in the
house Thursday. The most important
! change in the tariff bill was to drop
the clause putting cereal breadstuffs,
live stock and dairy products at an
advance of % per cent over the Wilson
German rates. so that these features
will simply have the - per cent ad-
vance, under the raise on all classes.
1t was also decided TO advance carpet
wool to the Mckinley bill rate, but
other woods and manufactured prod
ucts of woods will remain at 60 per
cent of the Mckinley tariff, accord
ing to the agreement of yesterday.
The other change was to exempt sugar
from the provisions of the clause for
a horizontal advance of 10 per cent.
Lumber will remain as decided yes
terday, at 60 per cent of the Mckinley
bill.
In the bond bill the principal issue
authorized will be with a change of
the rate of interest authorized by the
act of 1875, from to 8 per cent. and
these bonds will be payable at the op-
ton of the government after three
years. The rate of interest for the
one-year treasury certificates of in
debtedness was raised from to per
cent. This bill will also provide for
the temporary isolati of the green
backs. so that they will be held sep
arate in the treasury and not included
with the general assets of the govern
ment.
Several important considerations op-
Grated to bring about the changes in
the tariff bill. There has been little
doubt from the beginning that sugar
would be exempted from whatever
tariff changes were made, because any
attempts to alter the schedule would
give rise to complications. The de-
cision to drop farm products and cattle
from the list of duties to be adopted
will cause much disappointment
among the Western men, but so much
trouble arose over the settlement of
these items that it was thought best
to drop their consideration.
IRON AND STEEL.
An effort was made to have iron and
steel and their products given an ad-
vance, buu it met the opposition of the
Western men and was abandoned, this
fact also having something to do with
dropping the live stock and cereal ad-
vances contemplated. The iron and
steel interests argued that they should
! be equally favored with the farmers.
Members of the committee reply that
these bills are not intended in any way
| to represent Republican policies on the
finance or tariff; they are merely tenn
porary eXped- -ents to meet an emer-
gency, the Republicans holding that
| the emergency is caused by an INSULT
cheney of revenues. Chairman Ding
ley had conference with Secretary
Carlisle over the bills. Tomorrow both
bills will be adopted by the ways and
means committee, at a meeting which
the Democratic members will attend.
They will be reported to the house
Thursday, with a rule giving the day
for debate on the tariff bill. with the
vote at the close, and Friday for the
debate on the bond bill, bringing that
to a. vote Friday night.
A plan has been drafted by eX-Speak-
er Crisp and Mr.. Bailey, of Texas.
which will be offered a. a substitute for
the Republican measures. 1t is based
on the old bill for coming the silver
seigniorage, which was passed by the
last congress and vetoed by the presi-
dent but to this BILL modified, will be
added feature for the redemption of
greenbackS. The principal change in
the Seigniorage bill will be the omiS-
sion of that part which rendered avail
able the seigniorage before it had been
coined by the use of silver certificates
based upon it. The trainers of the bill
hold that this feature is not necessary,
because there is no immediate de-
ficiency with the present amount of
silver in the treasury.
REDEEMING GREENBACKS.
The other feature of the plan will
provide for the redemption of green
backs in silver whenever the amount
of gold in the treasury falls below
$1O0,0O0.00O. This may be offered as an
amendment to the Sc. griorage bill, as
more votes can be mustered for the
former plan than for the latter prop
ositions. The Democrats who favor
the plan intend, of course. merely to
place themselves on record as consist
ent in their financial policy.
The Populists senator's conferred to-
day and decided to offer a free silver
coinage bill as an amendment to either
a tariff or bond bill, or both, when they
come from the house. The Popudists
are favorable to duty on WOOL but
against a raise in. duties on woolen
goods.