The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-01-04

pingley's Rovonu and Bond Meaa-
uros Adopted BY Congress.


~ "*"f4t6 t1us Atf- <I-~-lnc house
Thursday responded to the appeal OF
the president by passing a tariff bin
the operation OF which Is limited "a
two and a half years. and which is de-
signed 70 raise $40.o00,00o for the re-
lief OF the treasury. The vote was
on party lines. with two exceptions,
Ihe republicans all voted for the bill
except Hartman (Mont.), who did rot
vote, and the democrats and populists
against 1t. save Newlands (pop.. Neg.).
who voted In favor OF the measure.
Immediately after the reading OF the
Journal Mr.. bingley. chairman of the
ways end means comanittee, reported
from That committee the revenue bin
which the speaker forthwith referred
TO the committee OF the whole house.
The Committec's Report.
In presenting the bill 10 the house
Mr., Dingley made the following report
OF the ways and means COMMITTEES:
THE committee on ways ana means TO
whom was referred so much OF the prcsf-
dents annual message and so much OF
the annual report OF the secretary OF the
treasury as relates TO revenue and the
condition or the treasury and also the
fHINNNEI presenting
the urgency or immediate action Of con-
gress "a a direction calculated 10 bring
relief, report. that the committee appreci-
ate the seriousness OF the situation and the
Importance OF prompt remedies so far as
congress- can give them"
The report then goes on TO review the
growing deficiency OF the past two years
and a halr' and says that III the con-
sequences OF suck chronic deficiency were
only the necessity OF borrowing money
70 meet current expenses In time OF peace.
even this would afford abundant reason
for increasing the revenue. But the con-
sequences are more wido reaching than
that unsuficicncy OF revenue has made IL
necessary TO use the redeemed United
States legal tender notes 10 pay current
expenditures. and thus 70 supply addi-
tionai means TO draw gold from tho green
back redemption fund--in short. 20 create
the endless chain OF which the secre-
tary OF the treasury complains and which
has made II necessary TO sell issue after
issue OF bonds 10 replenish the reserve.
Want to Increase Revenues sac, 900.
Your committee believes that II IL the
duty or tie house or representatives 10
which body the constitution commits the
Inauguration OF revenue bills, 20 frame and
pass measure that win yield not far
from $40. 900 000--sufiicient TO put an end TO
the deficiency--and TO do this without de-
lay. too. leaving TO others whose cooper
lation on the statute books 10 meet the re-
sponsibility In their own way. And the
presidents SPECIAL message. setting forth
80 pointedly the seriousness OF the situa-
lion and the necessity for tho promptest
action only emphasizes the duty OF the
mouse.
your committee have not undertaken
a general revision OF the tarlff on protee-
ton lines. as majority hope can be done
IN 1878. not only because they know that
suei tariif legislation would stand no
chance or becoming law, but also because
general tarIff revision would require many
months and the need Is more revenue at
once. We believe. however. that this need
of more revenue IN so great that simple
measure increasing all duties Of the dutia-
bic list. and taking from the free list OF the
present fariff a few articles that were always
on the dutlable list until August "a, 1894, and
which have always been important revenue
producers. and limiting the operation OF
such legislation 20 about two years and
hali--until the present deficiency OF revenue
Is overcome-ought TO receive tho approval
even OF those who do not favor protective
duties. on patriotic grounds; and that the
fact that II may incidentally encourage
the production OF many articles that. W.
be regarded as a ground OF opposition
under present circumstances.
A Horizontal Increase OF Duties.
but while wo have presented In the
he.es measure fsfvf tcd a horizontal I'M
crease OF IL per cent. OF existing duties on
ell the schedules but two. which II an
addition OF less thar eight per cent. 20 the
average advalorcm ratio - giving about
tlb.c00.00o revenue from that source; yet
more than $40. 600 900 OF the $40. 000. 900 which
Is estlr4ated this bill viii add to our an
nuai revenue. will come mainly from wool.
which Is taken from the free list
and given moderate duty, and
rom manufactures of wool. which are
given a compensatory duty equivalent 10
the duty OF wool (which In always neces-
sary wnen duty IL placed on weoD In
order 70 give the wool grower the benefit.
and make II possible 10 manufacture
woolens at home.
1.-THE bill reported by our committee pro-
poses 20 make tho duty on imported CLOTH
ing wool 90 per cent Of the duty Imposed
by the act OF 1890. which would give mf
equivalent OF CLIO or cent per pound
on unwashed wool. or about 40 per cent.
ad valorem. This reduction from the duty
OF tho act OF 1890 has been made because
tho restoration OF the iul! duty IN that
act might seem 20 30 too great "a change
from the present law 10 those whose CO.
operation IL Is necessary 70 secure In or
der to have any legislation and not
measure OF what might be done when
all branches OF the government are In
harmony with the majority OF the house
on protection lines. Tho duty on manu-
~~%F~-N~
cinc duty equivalent TO the duty on wool.
THE duty on carpet woods is left al the
81 per centum nd valortm where IL was
placed In 1870. This Is a purely revenue
duty, as we raise very fow carpet woods.
Such lumber as was placed on the free
list by the act or 1890. without the slight
est justification. Is restored 10 the dutlanle
list. but with a duty OF only % per cent.
or the duties provided by she act OF lSSV-
giving an equivalent OF only about 10 per
cent. such reduction from the low
rates OF 1890 IL Justified only on tho ground
that the object OF your committee has
been 20 frame a bill mainly on revenue
grounds. In the hope that IL would secure
the approval OF those In official place
whose cooperation II essential 10 iegisia-
ton and VINO may be supposed 20 feel that
In such an cxigency as now exists the public
necessity must control.
Believing. that such an increase or
revenue as IL proposed II essential ae a
nrst step IN the restoration OF confidence
and the restoration OF tho treasury 20 a
sound condition. and that other iegiala-
ton 10 be proposed 20 this end cannot be
eucctI>e without adequate revenue 10
meet tho expenditures OF tho government.