Catoctin clarion. [volume] (Mechanicstown, Md.) 1871-1940, 1884-01-17


Senator Cullom of Illinois, calling
forth hearty congratulations from both
sides of the chamber debates in the
house bearing OH the Mississippi river
improvement, which developed the
views of a number of Congressman on
question that has long attracted ma
tional attention and the passage by
the Senate Of bill for the immediate
appropriation of one million dollars
which the Mississippi river commission
wants now, in order to secure the i'm
provements in progress from destruc-
ton by freshets.
One important matter that is being
prepared in committee for i'm early con-
sideration of Congress, relates to Bank
ing and Currency, and the subject is
likely to call forth almost as much dis
cussion as the appropriation bills and
the revenue questions. However Judge
Buckner, of Mississippi Chairman of
the House committee on Banking and
Currency, says he thinks the people Of
the United States practically agree on
two things, namely: the gradual ex-
tinction of the public debt, and the re-
tention of Il paper currency of uniform
value in every part of the country
Six years ago nearly every member from
the south offered bill to repeal the
tax of ten per cent. upon the circula-
ton of State Banks, and only one bill
for that purpose has been presented in
the present Congress, which fact Judge
Buckner constructs as a demonstration
of the advantages Of paper currency
of equal value everywhere. In com
mittee last Wednesday, plans were dis
cussed for preventing contraction Of
the national bank currency and Messrs.
Potter, Hunt, and Ermentrout, demo
cratic members, expressed themselves
as decidedly in favor of such legisla-
ton, and as friends of the national
banking system. The chairman re-
trains from predicting the action Of the
committee. but every member is said
to be preparing bill expressing his
own IDEAS as to what must be done to
meet the crisis which is approaching
nearer with each reduction Of the pub
lie debt. The committee first proposes
to get all of the bills before it and 9TH
er necessary information, and then en-
dcavor to agree upon some measure
that will secure a paper currency of
uniform value throughout the United
States, after the debt has all been paid,
and that will prevent undue contrac-
ton while it IS being extinguished.
A national convention Of commercial
bodies will meet Wednesday in this
city at Williard's Hall, to consider the
question of uniform system Of bank
ruptcy. 1t will be attended by at least
two hundred delegates representing
exchanges, chambers Of commerce,
boards of trade, and mercantile associa
tons in the most important commercial
circles in the United States. The OBJ
ject is to present to the Judiciary COM
mittce Of Tie two Houses the formula
ted sentiment Of the business men of
the country with regard to a bank
ruptcy bill that will be equitable alike
to the debtor and creditor classes. The
framework of q bill has already been
prepared, and it is proposed a commit,
tee to be appointed at the meeting,
shall present this for the consideration
of Senator Edmunds and Representa-
tive Tucker, who are the chairmen re-
spectively Of the Senate and House Ju.
dietary committees. 1t is expected az
ter Il general interchange of views. that
a bill can be prepared, to meet the ap-
prov4l of both chairmen and Of all in
terests concerned. This measure will
then be submitted to Congress, accom-
panied by an earnest appeal for its i'm