The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1892-09-30

currency question. H. amendment ought
to be uut upon this bill specially, because
it is a House bill It, therefore offers an
opportunity TO have the House pass upon
it directly which viii not come If 10 we're
put upon either of the other bills which
have been mentioned here because they
are Senate bills
Rut ne Finance Committee, as hereto
fore and sIwaya does not mean that any
legislation adsIug 60 the volume of the
currency or any measure which replaces
the currency which mas been taken from
the people, shall ever be adopted That
committee intend TO obstruct and prevent
everything of this kind That committee
is moved by impulses by determinations
by theories, which are opposed TO any in
crease ia the volume of the currency and
equally opposed to anything that stops its
contraction
Mr.. MORRILL,. The Senator from Kan
sas, so far az i am concerned speaks en-
tir6iy out of the book. BE does not know
anything about 10, so far as am concerned.
AIr. PLUMB. appeal from the word of
the Senator from Vermont to the record
of his committsss j appeal to tbs action
OF that committee on this door Whenever
this question has come up. i say that
that committee with all the determination
of its able and determined chairman with
all the determination Of the former Sec
Rotary of the Treasury nov member
of the committee, with all the determine
tiou of that influence which has controlled
the uualgla- pDL4Cy or TINS country -sE
the last 30 years and controls it yet the
control of b0udhOldsrs and ey-lendsrsr
has resolved that nothing shall be done
which shall operate to make the burdens
of the people lighter by increasing the
volume of the currency or even by pre-
venting further contraction.
These facts are shown by the character
of the opposition offered to this amend
meut. 1t is not debated upon its merits.
The Senate is asked TO vote 10 down with
a
not belong to a bill of this kind. Mr.
President, it is in Orderi it is germauei it
is highly Important and without 1t the
bill might Just as well never be passed.
So far as / am concerned intend, as
said before to move this amendment, or
one similar to it, to every bill which that
committee proposes. j do not expect TO
make any impression on the 1nuuratsd
hide of the Finance Committee, but do
hope to arouse the Senate; I hope to
arouse the country to the non action which
has characterized Congress for the last
fifteen years upon this very important
subject We have sat here during that
time and seen the volume Of the currency
contract by reason of the shrink of the
national bank currency, and the motive
for such non action is found in the remark
of the Senator from Ohio a moment ago,
to the effect that IL more currency vas
wanted inducements should be offered to
the national banks to supply it.
tell that Senator as have often be-
fore said ia my place here that Congress
will never offer to any national bank any
inducsment to take out or to issue any
more currency than they have got now.
1t is after the feast entirely. The country
has made up it's mind that tie national
banks not to furnish IL Eyith CURRENCY
They are no longer factors In that great
question. The issue Of currency Is an actor
sovereignty IUhicL the people 40 not mean to
hare delegated TO any further eUteUt than &c
is HoLy, aud as fast as the uatiOnal-bauE
HHa
thing else is to take its place. The qUes-
ton Of The UJluHls Of the currency is not to
be settled Oh pgiUuts corporations upon the
basis of their 0tUH desire for gain as against
the public interest
That is a question to be settled by Con
gress, and the Senator from Ohio VIII wait
O long time before his remedy of more
currency to be issued by the banks viii be
adopted He viii soon see what he prob
ably prefers, a stlA further reduction IN
the volume of the currency
To this complexion it has come at last
The Secretary of the Treasury working
on the same line as the Finance Commit
tee breaches the issue OF more national
bank currency. and In effect threatens
the country - that IT. Is that or nothing.
And thus as We approacE nearer and
nearer to the financial brink and the dan
ger becomes greater, we are admonlzhed
that the only remedy is more national
bank circulation.
No one expects RELIEF from the Secrs-
tary OF the Treasury Tt has got to come
from Congress. The Secretary of tine
Treasury has power TO issue &2.OO0sOOO
month more of silver certificates OF TO
coin &2,OOO,OO0 more of silver dollars.
which would result in that amount added
of silver ceEtihcatssl but he IgiH not do
that. We may be sure that the admins
tratiOn OF the Treasury Department is in
suired with ths same motive that the
Finance Committee is, and that is, that
there shall be no currency which is to
come direct from the Government and no
RELIEF OF any kind whatever unless it
comes from the national banks by some
proGts. That is to be held before as.
That Is the rod which is constantly be d
over u.s.
The Senators from Vermont and Ohio
belong to the school Of huauGiers who be-
Ifsve that small aud diminishing volume
of currency is blessing and chat a large
vOiume OF money is a curse They look
at the condition OF the vaulls lu the banks
of New York city and cay that because
upon collateral security which can be sold
at a moments notice, therefore thgrs is
enough to supply the country and they
lcIIol1 nothing and apparently care nothing
about the condition OF the country at
large about the tWpousrfsh1eut Of lls
people iu Hl1 illtsri0rs because of this hide
bound policy which has characterized
Congress under the leadership OF the FL
nance Committee and which controls the
Treasury Department.
PLUME Gs- PRECEDENT some prog
ress has been made since thiH matter was
under discussion a week ago The 6eua-
tor from Ohio is not so certain nov that
the proposition of the Senator from Ken