The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-01-03

=" bridge IN. Financial Crisis wi
increase thc Tarin aud Issue Low RIA,
bond~ and Cert lhcates ~ In.ebtessne =.
NASiiiNpro>, Dee. 2i.-Four hon,
we're occupied by the republican men
bers OF the ways and means committe
yesterday afternoon ia preparing
measure OF relief for the treasury a,
partm"nt. There was Satisfactor
unanimity OF opinion among the mem
Ders a. TO the course 10 he pursued II
order to meet the deficit in the ma
lionel finances. Naturally the tir,
suggestion was 20 secure revenue II
The line Of repu blican policy. which 4
by duty on imports. When the con
ference ended very material amend
ments were made To the present tart
law, which il is estimated will IN
crease revenues about sio.0o0.OOO an
nually.
Another measure. which Is still in
complete, viii also be reported az IN.
same time, looking 90 an issue Of bonds
and certificates ~ indebtedness. bear.
ing low rate Of interest. To meet the
present emergencies. The two meas
urcs Will not be analgamated but
wlllh brought before the house sep
arately.
This conclusion differs radically from
the sentiments expressed at the secret
caucus OF the republican members held
az the capitol on SATURDAY, night last
Al that time nearly all the renub-
iicans present favored one ron
eral bill, which. il was contendei.
should stand or fall with the senate
and the president upon it, merits
To-day, however, the disposition was
so general torcport two different meas.
nres that the agreement was reached
without delay.
The reason for this was obvious. 1t
was explained by some of the member,
present that the silver republicans in
the house and senate would vote with
their party ON the tariff measure while
tney would be forced. by the very ma
ture OF things. 20 oppose the bond fea-
lures of The measure. Ii was primarily
70 secure the support of the silver re-
pnblican> ANA not put them in an an
tagoni>tic position to their party. that
the decision was reached to divide the
two propositions.
The two bills viii be reported to the
house on Thursday Of this week ana
Will he passed with delay. one. ana
possibly two days may be devoted n
their consideration but it i not inn
probable that they viii be passed be-
lore the close Of the session Thursday.
winch may bc prolonged to extend the
time for discussion.
The substantial features Of the tar
II bill are these:
Making a % per cent. rate on won,
WITH - per cent. compensatory duty |
IN manufactured cloth. over the act of |
>s+ 80 per cent rate OF duty over the
$40 law iMckiAleyl On lumber. A % |
Der cent. increase over the act Of lsp4
" ilson bill on live stock. cereals and
larry products, and a horizontal in
rease Of Il per cent in the rates of
uty on all other schedules. over the
aw Of 1894.
In this connection proviso i added
hat IN no case shall the rates of duty
~ecrd those Of the Mckinley law. ex-
opt ~ cases whore the present rate,
( duty are higher than those of the
ichinley tariff law. The proposed
mcndments will remain in effect un-
i Augut 4. 1898.
The increase Of duty on farm prod
cts was made at the request Of the
'embers representing distinctivclv
sriculthral states. their contention
eng that the present law i ruinous
Their granger constituents
me accompanying bill provides for
issu" OF three per cent. fivc-vear
'nhs 70 protect the gold reserve in
'e treasury. with a proviso that the
Irrcncy redeemed bv the bonds shall
d Pc paid out while deficit exists in
/" treasury. This differs from the !
iginal purpose Of the republican ,
iherS, which was 70 give authority
the secretary Of the treasury to i. /.
s three per cent. bond as popular
az, !" maintain the gold reserve
q Tor NJ other purpose. with a pro- \
~ mat the redeemed recnbacSs \
al not Dc used to meet currentex.
nSce. bnt be retained as long a. ,l.e.
AIRY ~ part Of the redemption
~ 'tA 70 ISSUE - national :.
nka circulating notes up 10 the par
the bonds deposited as security !.
'refor, and 70 reduce the tax on ma.
nal bans circulation: and authority u
inc issue Of certificates Of indebted.
> ~ meet the temporary deficiency {.
the receipts until the revenues can n
provided IN
N addition To the Sa1a ~ l.,a al "a
VIII also authorize the sccrctarv
the treasury 70 issue certificate, 81 ~
chtedness bearing two per cent. in. ~
est. not exceeding s5o.oo0OOD in 81
cunt, y meet current deficiencies IN -
revenues. n