Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1890-09-19
PLUMB NOT HAPPY.
The Rasping Kansas Senator
Gets After Window.
HIS RECENT POLICY CRITICISED.

sherman Wants the Secretary Let Alone
and Doesn't Scare at u Wall Street
Stringency-A Texas Statesman's Foot
Expresses His Indignation in Cory
Manner The Reciprocity Scheme
Agreed tO-RepubIicans Trying to
Break the DeadIock--Ohicial Notes.
WASHINGTON CITY. Sept. 19.-Plumb,
who keeps both eyes open for an oppor-
tunity to "lambast'' somebody, through
resolution, motion, or oration-or all of
them-ssw one yesterday afternoon. and
the secretary of the treasury was the
man who came under the displeasure Of
the senator from Kansas. He offered a
resolution directing that official to inform
the senate whether the rule or policy of
his department which requires the pay
ment of checks for silver bullion over the
counter of the sub-treasury Instead OF
through the proper clearing house, does
not result in paying out notes of the large
denominations instead of those suited for
circulation and use in ordinary business
transactions, and whether such methods
of payment does not result in the pay
ment of gold instead of treasury notes.
Wants a Brake on Window.
In the course of discussion on the res
olution, Plumb said a conspicuous illus
tration had taken place within the last
few weeks of the impolicy of allowing the
treasury department to obstruct or accel-
crate the business of the country For
years the treasury department, he said,
had boarded money, and during all that
time the volume of currency had been
constantly decreasing on account of the
withdrawal of national bank notes. The
secretary of the treasury had seen the
business of the country hampered on &C
count of the lack of money, but he had
waited until panic was impending that
affected the banks of all the cities and So
riously interfered with the operations OF
ordinary business.
Most Likely Thing in the World.
And then what had the secretary done,
He had given out the money to the hold
ers of government bonds, under such cir
cumstances AS to enable them, and not him,
to control the money supply of the coun-
try during their pleasure. The money
which few days ago had been in the
treasury, and which could have been put
out at the will of the secretary, was to-
day in the hands of the men who owned
bonds to the amount of so, 900, 600 And
it was perfectly safe to say that those
men, having that money, would use it tC
bouefit themselves, and not in the interest
of the people Nothing. Plumb said, but
an overwhelming calamity would ever di-
vUrce the treasury from such malicious in
reference with the business of the coun.
try.
sherman Explains Matters.
Sherman said that while he had no OBJ
lection to the resolution, that which had
been done had been done in strict execu
| ton of the law. The secretary of the
! treasury had no right to pay for silver
bullion in anything but treasury notes
These treasury notes had been issued il
| large denominations. There had been only
a very short time to prepare for the exc
cution of the law, and a sufficient amount
of treasury notes of small denominations
| could not be prepared. These large notes
| necessarily did not enter into the genera
| circulation of the country. He doubted
| the policy of paying years interest or
bonds in advance.
Scare Made to Order.
| The financial scare was a manufactured
| sShics II hdu ocoh SOttcH up ny pEoheTS
| by bulls and bears, and various kinds oil
animals, who practiced their trade on the
| exchanges of New York city There wa,
great demand for money now for NOV
| ing the cotton and grain crops and per
| haps to pay for an increased quantity of
! goods imported in order to evade highe
| duties under the new tariff law. Mer
chants had, to use vulgar expression
''bitten off more than they could chew,
and were now shining around to borrow
money. All these things would settle
| themselves in little while. There wa:
| no real serious financial disturbance il
| the country. 1t was confined to the city
of New York. He thought that thing
should be let 60 as they were, and tha
the secretary of the treasury should 10
permitted to use his discretion.
Plumb's resolution was adopted.