New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-05-14
AFFAIRS AT WASHINGTON.
DISCUSSING THE BANK CHARTER BILL


WASHINGTON, May 13-The Democrats in the
House of Representatives offered no opposition to
the taking up of the National Bank bill this morn-
ing An interesting explanation is offered for the
course taken by Mr. Randall yesterday in taking
the lead in tilibusterng against the consideration
of this measure. 1t is that Mr.. Randall hoped
thereby to rehabitate himself in the estimation OF
his party associates, who have complained very
bitterly on account of his support of the Tariff
Commission bill, to which a very large majority OF
the Democratic Representatives was strenu-
ously opposed. An equally large majority
OF them is quite as strongly opposed
to the Bank BILL which it is declared Mr.. Randall
secretly fayors. To allay resentmens in his own
party, however, Mr.. Randall, it is asserted, has
been willing TO offer so much opposition to that
measure as he thought might suit his own purposes.
Chairman Crapo's speech in support of the Bank
bill to-day was an admirably compact, terse and
logical argument, and was listened to with close
attention by everybody present except few
statesmen like Townshend Bland and others, who,
of course, already know all about financial sub
jects. Although Mr.. Crapo's speech was largely
devoted to an analysis of the National banking
laws and system, and fairly bristed with facts.
such is his mastery of the subject in all its details
that he spoke extemporaneousy and almost without
notes.
Nlessrs. Bland of Missouri and Joneo, of Arkansas,
delivered harangues against monOpoiiss and mo-
nopOes and in glorifcatiOn of cheap money for the
people. Mr.. Dowd, of North Carolina, new men,
ber, made speech in favor of the bill and certain
amendments to it which attracted considerable at
tention. Another vigorous speech in favor of the
bill was that of Mr. Smith, of Illinois, also a new
member, and one OF the Banking and Currency
Committee Mr.. Smith is a successful private
banker, but earnest friend of the National bank
ing system.
Mr.. Flower, of New York. made q vigorous speech
in favor Of the bill, with some amendments in the
course of which he said that unless certain amend
ments should be adopted he hardly believed
he should vote for the measure. The amend
mcnts he mentioned are the one requiring banks
to give ninety days notice of withdrawal of
circulation and the one providing that banks may
be sold in the State Courts Mr.. Flower declared
also that this bill does comprise all the remedial
legislation that Will be necessary TO avert financial
disaster before next winter. What more is re-
quired. he said, is the enactment of per cent re-
funding law to afford stable basis for the Nation
al Bank circulation, such basis not being afforded
by the 32 per cents, which are subject to call and
large amounts of which constantly being called
in and paid. The tone of all the speeches III favor
of the bill was a warning one against impending
financial and business disaster. OF course. such
warnings will have little effect npon such states
men as Mr.. Bland, of Missouri, and :. S. Cox Even
Mr. Buckner, of Missouri holds that next winter
will he soon enough to take action. lie says
" Let's wait and see what will be the effect of the
expiration of the bank charters between now and
December next"
On June l the charters of six banks will expire,
and 10 redeem their bonds they will be required to
Withdraw from circulation and deposit i'll the United
States Treasury 81 ,O24, 200 On July l the char
ters of twelve banks will expire, causing a like
withdrawal from circulation of - 246, 800 of lawful
money, and on September / the expiration OF six
charters will require the withdrawal of 1227 800
OF lawful money On February 20, 1888, the char
tiers of 297 banks will expire, involving the with
drawal from circulation of god, 900, 900 of lawful
money, The amount OF lawful money circulation
that Will be Withdrawn before next Christmas
account of the expiration of National Bank charters
will he as follows May, $1,71s,7l0; June,
So 6O2 200 July, $3, 507 500; August, 1904, 900;
September Sl 677, 800; October. S494,0 No
vemDer, S770, 900; December, $5l3,OOO; or total
of SI3,1 3,1SG,9l0.