Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1890-04-15
NATIONS CAPITAL.
Arrangements Being Made for
EI-Speaker Randalrs Funeral.
Plunb's Bill for Disposition Of CaRtlil
Funds In the Treasury.
Troops Asksd For to Suppress Ind1an
Upuisins In Montana.

WAsHIxevos. April l+.-Plumb intro
duced bill for the disposition Of certain
funds in the treasury, and asked that il be
read in full. ss be desired to call the asten-
ton OF the finance committee to il. Ii pro-
vIdes that money required to oe deposited
for the redsmp ion Of national bank circu-
lation, shall be covered into the treasury
and treated - furds svai able for redac.
tion of the public debt. and for the current
expenses OF government; and that all funds
held for the Pc, mens of matured debt
and interest due and unpaid,
shall be similarly treated, and that
hereafter no funds assils BILE above the su N
Of ten millions. be retained in the treasury.
This 10 rot TO be construed - permanently
diminishing the fund of eiO0 900 GOO that 10
held for the redemption Of q easuPy notes.
He said that less than e70O, 600 600 vss in
circulation for the use of the 81. 900 600
people in the United States. The system
Of finance that had been built up ard NAM
tanned. had brought about that result.
He (Plumbl believed the retention Of
money in the treasury and the assumption
on the part of the secretary to do what
might once have been proper. now consti
tute . menace TO the business Of the coun-
try and ought TO be prohibited BY Law.
There were $3.50 0O0t 90 held in the treas.
ury. One hundred millions are held in
assumed obedience to the Law of 1889 to
provide for the re 'empsion Of legal senders.
Sixty odd millions for redemption of the
national bank notes Of banks gone out Of
business or retiring = portion Of their cir
culation. Between Ave and six millions
for redemption Of such notes Of national
banks as came into the treasury and were
found unit for further circulation. About
seven millions for payment of coupons due
and 20, presented. and of debt maiured,
evidence of which 10 not presented. As to
the remainder, it was impossible to FELL
why it was held IL was enough 10 know
that it was not held for any useful purpose.
He did not think the law required any of il
held there except such portion ~ should.
in the discretion of the secretary. be peces-
.ary to meet the obligations Of the govern
ment.
He plumb admitted the secretary might
even under that theory hold IS large 4 sum
ss is now in the treasury, although he
{ Plumb) should think it extraordinary to
use the secretary's discretion. From every
quarter there is abundant evidence that the
public needed for the transaction of its
business TINS NOR ey in the treasury and il
should be- dsbursed. During the last year
nearly $40. .000. 900 national bank circnla
ton was Withdrawn. To meet that reduc-
ton there vas the coinage Of silver, two
millions a month. and coinage of gold, but
. xperience showed that only we're these
two agencies needed but also that there was
needed paper money to the maximum
amount outstanding at any time. By this
measure of his or something like it. the
money could be disbursed within 60 days
He hoped The finance committee would re-
port this bill or something like it. The bill
was referred to the fnance committee.
A message was received from the House
announcing the des'h Of Mr.. Randall and
the appointment of q committee to attend
his funeral WAS read.
Cameron offered a resolution expressing
the regret and sorrow of the Senate over
the announcement of the death of Hon.
Samuel J. Rsndsll and that the Senate
concurs in the resolution Of the House for
the appointment Of a committee to attend
the funeral, sDd that q committee Of FIVE
be appointed by the Vice President. The
resolutions were agreed to. and Quay. Ali.
son, Dawes, Voorhees, and Eusus we're ap-
po nted on that committee on the part of
the Senate.
As further mark of respect the Senate
at 1880 adjourned until tomorrow.