The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-01-16
Tue nousc

The Speaker laid before the House an es
innate from the Commissioners of the Dis
tFict OF Columbia for an appropriation OF
slo,oeO. TO enable them TO maintain public
o0sr during the ceremonies attending the
dedication OF the Washington Monument
and the Inauguration OF the next President.
Referred.
The House then, under the specisl order,
p7ocee6ed to the consideration Of the Nc.
Pherscn Funding bill.
Mr. Wilkins said simple provision of the
bill WAS to increase the circulation OF
National Bank notes from ninety per cent of
the bonds deposited to secure such circula-
ton to 100 per cent.
Mr.. Yaple said he would vote against any
measure which sought to perpetuats Ma.
consl Bank currency. Every man who
claimed 10 be Democrat should oppose this
bill, and not act as an attorney for private
corporations The National Bank currencS
shocld give way 70 some other that would
be cheap, convenient and safe. There never
Lad existed more dangerous currency; MT
even the widest currency OF former years
1t was a political currency. 1t contracted
with Democratic success. 1t expanded afteI
Republican victory. He advocated green
BACK currency, aud pictarei the services
which the ereenbsck had renderei
the Union during the late war. re
eUlogized the greenback decision of tn
Supreme Caart. The tories of Wall street
might rsil at it. but the people looked at il
az protection against the power or incor-
pcresed wealth. He maintained that IA 4
matter ct good faith TO member who was a
stockholder OF any National Bank shaa'd
speak or vote on this measure. He gave no
sce OF al anl5ndment excluding from tle
provisions OF the bill any bsnk which r..
fused TO receive standard silver dollars o..
dercsit or pay IL over the counter on the
ssme tsrfss as gold
Messrs. Cook and Barnum opposed tbs
bill
Mr. Henderson, OF Iowa supported The
measure. declaring IL wss in the interest Ct
the people aud not In the interest of banks
Mr.. Shively said the bill was proposition
70 make an appropriation of thirty-two NIL
lions to the National Banks without asking
any compensation 10 the Government in re.
turn.
Mr. Ermentrout maintained il the Demo.
crats would take the Chicago platform as
their guide or this. question they
must favor the pending measure. he
he believed could become law. These
were the Mcpherson and Dingley bills
which, in tie next two years, would relieve
the currency to the extent of 1927 900 000
Mr.. Potter opposed the bill. He gave no.
tiee OF motion to recommit the bill with
and Currency to report back the following
bill: To refund the bonded debt of the
United States &C pa per cent. iNterest; to
reduce taxation upon circulating bank nots
currency, and to secure s1ch currency
egsinst unnecessary disturbance and fiuctu-
ation BY applying National revenues eco
nonicaily to the payment OF the National
debt, etc.
Mr.. Potter gave an outline OF his scheme
20 get rid OF the surplus revenue and furnish
a iUnd for the National banks.
Dir. Hunt BRIEFLY advocated the MoPher-
son bill.
Mr.. Warner. of Ohio. offered an amend
meut authorizing the Secretary of the
Treasury whenever the circulating notes OF
the National Banks shall fall below 1903 :
S1S, 1886 to issue United States notes in suf-
hcent amount to keep the volume of paper
currency at all times at total OF $500, 000,-
900.
Mr.. wilkins then demanded the previous
question on the bill and amendments. pend
Ing which Dir. Mills moved the Hoasa ad-
lourn. and pending this, that 1t adjourn to
meet cE Saturday next. which latter ms
7 on wss lost by 81 &c "a
Mr.. Mills then pressed his motion to sd.
journ, stating that the Democrats wished TO
no ID q caucus. The motion was then carried,
yeas, 1870; nays, liz.
While this vas in TO sense test vote on
the McPherson bill (mapy members voting
IA ZIG cAAtthhtiNc ia oruSI tndk tudt toe
caucus might be hel5). II operates a.
virtual defeat OF that measure, as a special
order is not continuing order.
Mr.. B1ckner. Chairman OF the Banking
and Currency Committee, said to an Asso
cisted Press reporter: That settles the bill;
We Will never egain be aols TO get it before
ihe House."
Pending the announcement OF the votes,
on motion OF Mr.. Randall, the House non.
concurred IN the Senate Amendments to the
x month naval appropriation bill, aid
enoaii, Holman sud Long were appointed
.serees.
he House adjourned. and Democratic
caU5kis f-"'
diateA