Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1892-09-29

anything, 1t is for wise legislation upon the
currency question. My amendment ought
to be put upon this bill specially, because
it is House bill. 1t, therefore, offers an
opportunity to have the House pass upon
it directly, which will not come if it were
put upon either of the other bills which
have been mentioned here, because they
are Senate bills.
But the Finance Committee, as hereto
fore and always, does not mean that any
legislation adding to the volume of the
currency, or any measure which replaces
the currency which has been taken from
the people, shall ever be adopted. That
committee intend to obstruot and prevent
everything of this kind. That committee
is moved by impulses, by determinations,
by theories, which are opposed to any in
crease in the volume of the currency and
equally opposed to anything that stops its
contraction.
Mr.. MORRILL,. The Senator from Kan
sas, SO far as l am concerned, speaks en-
tirely out of the book. He does not know
anything about it, so far as am concerned.
Mr.. PLUMB. Iappeal from the word of
the Senator from Vermont to the record
of his committee; I appeal to the action
of that committee on this floor whenever
this question has come up. l 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, now a member
of the committee, with all the determine
ton of that influence which has controlled
the financial policy of this country for
the last 30 years, and controls it yet, the
control of bondholders and Oney-lenders,
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
ment. 1t is not debated upon its merits.
The Senate is asked to vote it down with
out debate-upon the pretense that it does
not belong to bill of this kind. Mr..
President, it is in order; it is germane; it
is highly important; and without it the
bill might just as we'll never be passed.
So far as am concerned, l intend, as I
said before to move this amendment, or
one similar to it, to every bill which that
make any impression on the indurated
hide of the Finance Committee, but / do
hope to arouse the Senate; 1 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 if more currency was
wanted inducements should be offered to
the national banks to supply it.
I tell that Senator, as l have often be-
fore said in my place here, that Congress
will never offer to any national bank any
inducement to take out or to issue any
more currency than they have got now
It is after the feast entirely. The country
has made up its mind that the national
banks are not TO furnish IL Nth currency.
They are no longer factors in that great
question. The issue of currency is an act Of
sovereignty ,ohich the people do not mean to
have delegated 10 any further ertent than It
is notO, and as fast as the national-bank
currency now outstanding is retired some
thing else is to take its place. The ques-
ton of the uolume of the currency is not to
be settled by private corporations upon the
basis of their DUN desire for gain as against
the public interest.
That is a question to be settled by Con-
gress, and the Senator from Ohio will wait
long time before his remedy of more
currency to be issued by the banks will be
adopted. He will soon see what he prob
ably prefers, a still 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 approach nearer and
nearer to the financial brink, and the dan
ger becomes greater, we are admonished
that the only remedy is more national
bank circulation.
No one expects relief from the Score.
tary of the Treasury. 1t has got to come
from Congress. The Secretary of the
Treasury has power to issue 100000 a
month more of silver certificates or to
coin $2,O00,O00 more of silver dollars,
WnlCn Ohap uhiOuhe ouNSN
of silver certificates, but he toiH not do
that. We may be sure that the admins
tration of the Treasury Department is in
spired with the 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
enlargement of their power and of their
profits. That is to be held before us.
That is the rod which is constantly he'd
over us.
The Senators from Vermont and Ohio
belong to the school of financiers who be-
lieve that a small and diminishing volume
of currency is blessing, and that large
volume of money is a curse. They look
at the condition of the vaults in the banks
of New York city and say that, because
money can be had fare by favored ones
upon collateral security which can be sold
at moments notice, therefore there is
enough to supply the country, and they
knotc nothing and apparently care nothing
about the condition of the country at
large, abe the inporerishment of the
people IN a. interior, because of this hide
bound policy which has characterized
Congress under the leadership of the FL
nance Committee and which controls the
Treasury Department.
Mr PIIJMB Mr. President some prop-