The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1890-09-19
.PLUMB'S BOMBSHELL
The Treasury Department Asked for
Information.
The Secretary Accused of Accel-
Grating or RetardIng the
Business OF the Coun-
try at His Pleasure.

WASHINGTON, Sept. lS.-The resolution
offered yesterday by Plumb, to recon-
mend the bankruptcy bill, went over till
tomorrow.
Plumb offered resolution directing the
secretary Of the treasury to inform the
senate whether the rule or policy Of his
department, which requires the payment
of checks for silver bullion into sub
treasury, instead Of through the proper
clearing house. does not result in paying
out notes of larger denominations, instead
ordinary business transactions; and
whether such method OF payment does
not result in the payment Of gold instead
OF treasury notes. As his reason for
offering the resolution, Plumb sent to the
clerks desk and had read letter from
member of New York bank
ing house, stating the facts as to the
payment of such checks, venturing the
prediction that the silver question was not
finally settled, and that New York specu-
lation and accumulations OF silver
threaten to revive il. Plumb spoke of the
conspicuous illustration that had taken
place within the last few days of the policy
of allowing the treasury department to
obstruct or accelerate the business of the
country. For years the treasury depart
ment had boarded money. and during all
that time the volume Of currency was con-
stantly decreasing on account OF the with
drawal OF national bank notes. The Sec
retary of the treasury had seen the busi-
ness of the country bampered on account
OF that lack OF money, but he waited until q
panic was impending-nota a stockholders
panic, but a stringency OF money that
affected the banks OF all cities and seri-
ously interfered with the operations of or
binary business, and then the s. cretary
had given money to holders OF govern
ment bonds, under such circumstances as
to enable them, and not him, TO control
the money supply of the country during
their pleasure. 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 men
who owned bonds to the amount Of S2O,-
000,0GO. II was perfectly safe to say these
men, having that money, would use IL TO
benefit themselves, and not in the inter-
est of the people. Nothing but an over
whelmine calamity would ever divorce
the treasury from such malicious interfer-
ence with the business Of the country.
Sherman said, while he had no obiec-
ton 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 bull
lion in anything but treasury notes. Those
treasury notes had been issued in large
denominations. There had been only a
short time to prepare for the execution OF
the law, and sufficient amount Of treas
ury notes of small denominations could
not be prepared. Those large notes nec-
essarily did not enter into the mineral
circulation of the country. He (Sherman)
doubted the policy OF paying years in.
terest on bonds i'm advance. The finan.
cial scare was manufactured scare. II
had been gotten up by brokers, by bulls
and bears, and various kinds of animals
who practiced their trade in the ex.
changes of New York. There was, he
admitted, great demand for money now
| for moving the cotton and grain crops and
perhaps TO pay for the increased quantity
of foreign goods imported in order e
evade the higher duties under the tariff
law. All these things, Sherman said
would settle themselves in little while
There was no real serious financial dis
turbance in the country. Ii was confined
TO the city of New York. He thought tho
secretary Of the treasury should be per
| mitted TO use his discretion.
After further discussion Plumb's resolu
| ton was agreed TO.
The vice-president announced havin,
signed the river and harbor bill.
The calendar was then taken up and tn,
following bills, among others, passed
House bill TO amend the articles of wa
relative to punishment or conviction b.
| courts-Hartial; senate bill 10 provide 70
inspection Of live cattle, hogs and car
casses and products thereof which ar
subjects of interstate commerce.; senat
bill TO revise the grade of lieutenant-gen
eral i'm the army of the United States; sen
ate bill for the relief OF women enrolled a
army nurses, allowing s12 a month "
women who for six months rendere,
actual service in any regimental camp o
general hospital, and who are unable Il
earn their support, pension TO commenc
from date OF filing application, after th'
passage of this act.
The bill to establish land court wen
over until tomorrow.