Savannah morning news. [volume] (Savannah) 1868-1887, 1884-02-27
Ranking Bills.


The Mcpherson currency bill, which
passed tle maze Monday, does not give
tse national banks tie announcement
t5ev desire. Il doesn't appear that the
b,nIs care very much whether the bllI
ba,o7las q law or not. Il benefits them to
tho extent Of allowing them TO increase
+aa;- circulation 10 per cent. without in
creasing the amount Of bonds deposited to
SECURE circulation. This concession Is,
Of course. worth something 70 the
banks, but what they want more than
ANYTHING else IS legislation that VIII afford
them some certainty Of continued exist
ence.. \ very large proportion OF the
bonds DEPOSITED to secure circulation IS =
per cents. and they are liable to be calleu
at any time. In fact. some Of them are
included In every bond call which the
Secretary Of the Treasury makes. During
the debate in the senate complaint was
made that the Finance Committee nad
failed In its duty in not
rerorting bill that "oulu
nlace the national banking system
On q firm and permanent basis. and the
Chairman Of that committee replied that
the committee was now considering a
measure calculated TO meet the complaint.
LISA matter Of some surprise that the
measure in question was not brought
forward instead Of the MCPHERSON bill.
Much valuable time perhaps. would have
been saved. HOweve-. the debate in the
Senate developed that while there are
WIDE dine noes Or opinion among Sena-
.ors respecting matters pertaining TO the
national finances. there is a strong
feeling IN favor Of sustaining
the netional banking system, because It
+ is about the best the country has ever
I had. and the best it is likely to get. \
good deal OF q stir is being made about
F the Potter bin, row pending in the House.
/ An a, tempt doubtless VIII be made TO at
/ tach it 20 the Mcpherson bill. 1t aims to
do more than the Mcpherson bill. II
adopted IL would preserve the national
+ banking system un,il almost the whole OF
/ the national debt is paid. 1t provides
for funding the entire debt into ~ per
cents. The bill. Of course, provides for
! cOmpensating the holders Of The 5 and y 5
/ for the diEaeace between the interest they
are now receiving and what they would
Y receive II The exchange Tor 215 per cents.
were made. The bin also provides for re-
dUcing the tax on circulation from one to
one-halt III one per cent. The chief bene-
fit t0 the banks, however. is the provision
which requires the secretary Of the
/ Treasury to purchase first the bonds
which VIII cause the greatest saving OF
interest. In determining this point the
/ tax received on circulation is TO be con-
sidered deduction from the iEteres paid
on the bonds deposited 10 secure circula-
/ ton. Ncccss rilv. Therefore, the bonds
which secI e bank circulation must be
the last paid. The Mcpherson bill was
quite a wrIe getting through the Senate
/ but It viii not be surprising II its pro
gress is very much slower in the House.
The indian Territory Problem.
The pres. dire on Congress to open the
Indian Teri DRY TO settlement or to per
init the unoccupied lands to be leased fol
grazing purposes viii doubtless grow
1 stronger each year. At present the ef
fort is To have some arrangement made
which will permit syndicates or indiyid
uals to lease tracts of land not more than
10000 or 100000 acres IN extent. \
pamphlet has just made is appearance
which pr. SCENTS all the arguments that
can be advanced in support OF such an ar
/ raugement. The fact that the cattle
ranges OF the country are now limited Is
pointed ont and elaborated with a great
deal of force. Kansas has no more lands
that Will answer Tor grazing purposes
ana he Texas lands are about all taker
uo. In Texas lands that could have been
bo- INT a few years ago for fifty
. cents an acre now command ten dollars
! The ranges in Idaho. Montana and even
in Dakota. are taken up. In these Ter
rio ses the climate is too severe for cattle
although vast numbers are probably pro
duced there. The climate in the Indian
Territory is mild, and the grasses arc
very nutritious. About 100000 acres
have been leased to syndicates for grazing
purposes. but the contracts have not vet
been approved by the Secretary of the Int
ri0r. 1t is estimated that there are about
100000 acres OF unOccupied lands in the
4 lcIllLbIA. ne Hur9tAoI II ooA1N. " ~
permit this vast domain to remain unused
when there is such u demand for cheap
beef The price of good beef, it IS as
serted, is continually advancing. The
Indian Territory, il is estimated, would
support herds that would furnish beet
enough for half the country. 1t is
urged that the leasing system would not
interfere with the rights of the Indians to
the land. and would afford them an income
which they are anxious TO have. No doubt
the arguments in favor of the leasing sys-
TEN are strong, but it is certain that il
the white people once get a legal foothold
in the Territory they will never leave it
They will gradually push the Indians ont
or coufne them to very small portion Of
it, 1t is only question Of time when the
Territory Will be opened to white settle
ment. such a great, rich and beautiful
country will not be permitted to remain a
( wilderness.