Savannah morning news. [volume] (Savannah) 1868-1887, 1885-01-16
MPHERS0N'S BILL DEAD.
AN ANADJOURNMENT BELIEVED TO
HAVE SEALED ITS FATE.

HAVE SEALED ITS FATE.
Friends and Foes Preeede its Shelving
by Spirited Debate-An Uneventful
Day In the Senate-NavaI Finances and
foiicy Discussed by the Democratic
Representative in Caucus.
WASHINGTON, Jan. 15.-The McPher-
son and Dingley bills were not passed by
the House to-day. The probabilities are
tnat neither will be passed at this ses-
sion. The day was given to discussion
oil the Mcpherson bill. Mr.. wilkins, Of
Ohio, who has charge of it, allowed the
debate to run too long. When he called
the previous question it was $3.50 O'Clock.
In half an hour the Democratic caucus
was to meet. The members were begin
ming to think of their dinners. MIR. Mills,
of Texas, on behalf of the enemies of the
bill, who saw their opportunity, promptly
moved an adjournment. This was carried,
only a few Democrats voting with the
Republicans against it. The special
order for to-day, under which the bills
were considered, expires with to-day, so
that the bills must now take their chances
with thousand others on the calendars.
These chances are not good. If the debate
had been cut short the Mcpherson bill at
least might have passed this afternoon.
lts opponents found to-day that Speaker
Carlisle had changed his mind, and would
not rule favOrably on motion to send the
bills to the committee of the whole as
revenue bills" so that the motion was
not made. Had the previous question
been ordered, however, motions to recon-
NIT with instructions to substitute their
bills would have been made by Messrs.
Buckner and Potter. No financial legis-
latlOn OF any Importance is now expected.
DEBATE IN THE HOUSE.
In the House, after the reading Of the bill
Mr.. Henley, OF California, wished to an
tagonize 1t with question of consideration,
but the Speaker ruled that such a question
could not be raised against a special order,
and Mr.. Henley gave notice that he would on
saturday press the Pacific land grant bill for
action.
Mr.. wilkins, of Ohio. gave a brief abatement
of the features of the Mcpherson bill, and the
causes which necessitated ihe passage of some
such measure. The simple provision of the
Dill was tOlnerease the circulation of national
Dank notes from 10 per cent. of the bonds de-
posted to secure such circulation to 100 per
cent. The proposition was so simple and
comprehensive that it seemed to him that the
discussion should not be prolonged.
Mr.. Henderson, of Iowa, suggested that two
hours debate would be sufficient, one hour to
be for and one against the bill.
Messrs. Nc Millin of Tennessee. Warner of
Ohio, and Weller of Iowa, maintained that
Two hours was too short time within which
to consider so important question.
No arrangement was arrived at and the de-
bate proceeded. Among the speakers were
Messrs. 1aple of Michigan, Cook of Iowa,
Brumm of Pennsylvania, Henderson of Iowa,
ShlYely OF Indiana, ErmentrOut of Pennsyl-
vania, and Potter of New York.
Mr.. Potter said that the country was not
yet slN months removed from the time when
per cent. bonds could not be sold for par,
yet the money market had not been disturbed,
I'm ms hull
there would be distrust in the money market
which would inevitably end in the suspension
Of specie payments and bring upon the cOun-
try all the untold calamities which would
result therefrOm. Mr.. Potter gave notice of
motion to recOmmlt the bill, with instruc-
uOns to the Committee on Banking and Cur
rency to report back bill which he read,
the object OF which is to refund the bonded
debt OF the Unlted states at two and half
per cent. interest, to reduce taxation upon
circulating bank note currency and to secure
such currency against unnecessary disturb
ance and fluctuatiOn by applying the nation
al revenues economically TO the payment of
the national debt.
Mr.. Hewitt, of New York, thought that the
vote OF New York city would be found cast
against the pending bill. The bill proposed
by his colleague MIR. Potter he advocated
because 1t would take the surplus money of
the Treasury and use it for the purpose of
reducing the rate of interest on bonds. The
principal of the bonds would still remain as a
basis for banking.
But 30 PER CENT.
Mr.. Hunt, of Louisiana, briefly advocated
the Mcpherson bill and called the attention of
the House to thefact that under its provisions
banks would be allowed practically to issue
circulation only to 95 per cent. of the bonds
deposited. If the gentleman from New York
air. FOtter) thought that il was unsafe
10 truss the circulation of bonds to that
extent he was one of a very limited number
OF people. The gentleman said that 1t was
unsafe because bonds having been enhanced
IN value would rise in the market and the
government would be compelled to paw a
great premium in the redemption of the debt
The bill had been pending for a year, and
win the improving prospects of the passage
OF the bill there had been no rise in the price
of bonds.
Mr.. Warner. of Ohio, offered an amendment
authorizing the Secretary of the Treasury
whenever the circulating notes of the national
banks shall fall below 1903 ,9SI to issue
United States notes in sufficient amount to
keep the volume of paper currency at all
times at total OF $3.50, ,O6O, 600.
Mr.. wilkins then demanded tho previous
question on the bill and its amendments,
pending which Mr.. Mills, of Texas, moved
that the House adjourn. and pending this
winch latter motion was lost by a vote of 81
Mr.. Mills then pressed his motion to adjourn.
stating that the Democrats wished to hold a
caucus. The motion was then carried by a
vote of l30 yeas to ll2 nays. While this was
IN no sense test vote on the Mcpherson bill,
many members voting In the affirmative in
order that caucus might be held, it Oper-
ates as a virtual defeat of that measure as a
special order is not continuing order.
Mr.. Buckner, Chairman of the Banking and
currency Committee, said to an Associated
Press reporter: THAT settles the bill. We
will never again be able to get it before the
House,