The people's journal. (Pickens, S.C.) 1891-1903, 1896-01-02
TO MEET THE EMERGENCY.
The Republicans Report Bond and
Tariff Bills for tho Relief OF the
Trcasury

| Ane Republicans REPORT Bond anC
Tariff Bills for tho Relief of the
Treasury.
The Democrats wanted the ways aut
means committee to postpone action
on tho tariff and bond bills, but the
Republicans ordered them to be re.
ported by strict party vote.
All the members OF the committee,
| except Mr.. GrUsvenor, of Ohio, and
Mr.. McLaarin, Of South Carolina, were
in Attendance. The session lasted two
and IL half hours. The Democrats
made general protest against both
measures. Tho tariff bill was first
considered. AS each section was read
Mr.. Turner, OF Georgia, mov.d to
strike it out, the Democrats Voting
IN the affirmative ana the Repub leans
| IN opposition. Mr.. McMillin, of Ten
nessee, thon entered an earnest pleu
for more timo in which to consider
both bills. lie argued that this being
u holiday the departments wero closed;
That 1T would bo impossible to s. euro
from the treasury department E&tore
Ihut"day the data necessary to sup
port the Democratic contention and
closed with " motion that furthe: re-
consideration OF The measure in com
nltten re postp,ncd two days.
This motion was defeated, az was
also his motion ior twenty four i",urs'
delay After tn,s, discussion, ,ur IL
while, became general. Tho l. ,mo-
Gratis commended '.ilut the treaSurl now
conta! ned cas-, halMICo of $l7l 800,
UOO That this ".s ample to moe. any
dchc'rnclcS which might aris,. for
several years thai the receipts boiorc
the clos" OF the fiscal year would ruual
Il ,,; ~
latiOn was necessary.
10 this Chairman Dngley responded
with general dlSc(aim =. He stated
that so O,OUO,OO0 uf the amount was in
SrccnDackS, which bias not been re-
cclVcd rs revenues, but which were
redeemed with gold, and that they be-
lOnged practically to the rcdcm ption
fund. They were Il part, really. OF the
cash balance, and ought not to be used
Tor current expenses. He showed
that tho greenbacks were used us an
'endless chain" to draw gold from
the Treasury, and approved the policy
OF the Secretary in looking thom up.
The purpose Of the tariff bill, MIR.
Dingley continued, was to furnish the
money needed for the expenses of the
Government without trenchne on the
gold reserve, or the greenbacks which
mad been redeemed in gold. He ad
mltted that in Offering these revenue
measures the Republicans have
waived, for the moment, their protec-
tion principles and they made this con-
cession, hoping that the President
| would be equally unseltish in putting
his own objections behind him. Mr.
| Dingley insisted that the bill was not
Intended as party measure. 1t was,
he explained, non-partisan in charac-
ter, and he hoped that it would poll
the full vote Of Congress, in order to
save tho credit of the government,
which, according to the Presidents
message, and disclosures made in pri.
Vate by Secretary Carlisle, was in
great danger. The condition Of the
| Treasury, he insisted, demanded
prompt action. Evory days delay
added to the Embarrassment of the
administration. Inasmuch as no re-
vision of the tariff was attempted in
the measure in question no discussion
in committee at this time was ncces-
sary.
Tho Republicans, he said, in con.
clusion, had taken the tariff law of
1894 us IL basis, and according to the
lmportatl0ns for that year. the now
bill would add $4,000, 900 annually to
the revenues. or this sum $l2, 900, 900
Woulu ''e ucFIVcu from duties on r;BW
wool, l4,O0O,0On on manufactures of
wool and $l4,O0u,000 additional from
the horizontal increase on the remain
ing schedules, except sugar, which
was not changed, aud lumber, the duty
on which would be 60 per cent. of tho
Mckinley tariff rate.
The first and only break in tho Dom
ocratic column was the motion Of Mr..
Turncr tD"m. OF Ga.) to strike oua the
second section 3f tho bond bill au-
thoriztng tho issuance of $50, 10000
certificates Of Indebtedness. On this
motion Mr.. Tarsnoy (Dcm. OF MOI
voted with tho Republicans and the
amendment was lost.
Thcrcupon, Mr.. McMillin Dcm. of
Tom. offered an amendment that the
certificates issued should be subject to
taxation as arc the grccnbacks ana
other moneys, b.o this amendment was