People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1892-09-30

al tnlnR, IL Is LOT Wise icy lsldtlOn upOn Tue
currency question. Ny amendment ought
to be put upon this bill specially, because
it is House bill. II, 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 obstruct 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 | 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; l 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 member
of the committee, with all the determine
tion 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 money-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 a 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 well never be passed.
So far as am concerned, l intend, as
said before, to move this amendment, or
one similar to it, to every bill which that
committee proposes. | do not expect to
make any impression on the indurated
hide of the Finance Committee, but l do
hope to arouse the Senate; 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 moment ago,
to the effect that if more currency was
wanted inducements should be offered to
the national banks TO supply it.
l tell that Senator, as have often be-
fore said in my place here, that Congress
WI never offer to any national bank any
Il hcement TO take out or to issue any
more currency than they have got now.
1t is after the stentirely. 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 Which the people do not mean TO
hare delegated TO any further ertent than IL
is notu, 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 volume Of the currency is not 10
be settled BY private corporations upon the
basis of their DUN desire for gain as against
the public interest.
That is question to be settled by Con-
J 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
I on the same line as the Finance Commit
. tee, breaches the issue of more national
bank currency, and, in effect, threatens
} the country-that il 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
7 from Congress. The Secretary of the
3 Treasury has power to issue 100000 q
= month more of silver certificates or to
3 coin 100000 more of silver dollars
5 which would result in that amount added
, of silver certificates, but he pill not do
3 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
5 there shall be no currency which is To
j come direct from the Government, and nc
9 relief of any kind whatever unless II
e comes from the national banks by soms
enlargement of their power and Of theil
I profits. That is to be held before us
: That is the rod which is constantly heC
over US.
T The Senators from Vermont and Ohio
Y belong to the school Of fnanciers who be
e lieve that small and diminishing volume
9 of currency is blessing, and that large
: volume of money is curse. They lool
Q at the condition Of the vaults in the bank
q of New York city and say that, becaus,
3 money can be had there by favored one,
Il upon collateral security which can be solo
e at moments notice, therefore there il
t enough to supply the country, and hel
g InotO nothing aud apparently care nothin.
e about the condition of the country a
e large, abo-' the imporerishment Of III
d people in q. interior, because of this hide
d bound policy which has characterized
v Congress under the leadership of the Fl
a nance Committee and which controla ~,