Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-06-14
PETER ON HIS PLAN
Of Government Loans to Farmers, to
Pull Them Through Dull Times.
SENATORS BUSY WITH POLITICS.
Attempts in the House to Get Through
With the Sessions Work.
BIG INCREASE IN THE PENSIONS BILL,

WASHINGTON, June 13.-Not one Of the
the Minneapolis Convention was in the
Senate chamber this morning when the ses-
sion opened. There were but 12 Senators
present on the Republican side, and few
more than that number On the Democratic
side. The first indication of the Demo
cratic movement on Chicago was the grant,
ing of leave of absence to Mr.. Voorhees,
until the 26th inst.
The pension appropriation bill, with
amendments, was reported back from the
Committee on Appropriations and placed
on the calendar. 1t carries total of S146, =
49,, $50, which is an increase of s11, 912, 2s4
over the House bill, and S327, 200 less than
the estimates. The bill, as reported, ex-
ceeds that of last year by s11, 500, SOS. The
principal increase over the House bill is
S11, ,907 ,634, for army and navy pensions.
The bill introduced by Mr.. PETER on the
26th of May ''to increase the currency and
provide for its circulation, to reduce the
rates of interest and to establish bureau
of loans" was taken from the table, and
Mr. Peffer addressed the Senate in explana-
uon ana advocacy OF It.
Provisions of Feffer's Plan.
1t provides for the appointment by the
President of three commissioners, to hold
their office in Washington, whose duty it
shall be to establish loan agencies, one at
the capital of every State and Territory,
and at other convenient places-such loan
agency to be known as the Central Loan
Agency for that State or Territory.
The business of these local agencies is to
be to lend money to the people on the plan
of well-regulated real estate and loan
agencies secured by real estate. The loans
are to be for not less than one year nor
longer than two years They are to be for
not less than 500 nor more than 81, 500 to
any one person or family. There is no pro-
vision as to the rate of interest In order
to provide funds, Treasury notes are to be
issued, equal in amount to s. so for every
dollars worth of gold and silver coin and
bullion belonging to the United States-the
bullion to be estimated at its coinage value.
No banking firm, company or corporation is
hereafter to receive interest at higher rate
per annum than per cent for a short time
or per cent for year or longer.
Loans on Agricultural Products.
There is a section in the bill providing
for loans, at one-third of l per cent Q
month by the bureau of loans, for less than 12
months on the security ofpersonal property,
whenever any State shall have provided
warehouses for agricultural products, such
as cotton, wheat and tobacco, and for manu.
factured articles that will not deteriorate
by storage for few months
Much of Mr.. PETERS speech was in de-
nunciation of usury, which he said was
breaking down the Republic. The people,
he said, were in earnest about the matter
The Republic would go down unless the
people were saved, and there was no way of
saving them except BY destroying the great
evil of usury. The bill was in that line.
1t was suggestive and helpful, and at least
deserved the consideration of the Senate.
Mr.. PETER said he had examined the con-
stitutional question and that he believed
that Congress had as perfect authority to
lend money to the people as it had to pro-
vide for carrying mails or packages or de-
termining the rates which railroads may
sengers. At the close Of his speech the bill
went over without action.
Mr.. Mcpherson gave notice of his inten-
ton to address the Senate next Wednesday
on the bill for the free coinage of silver,
and Mr.. Morgan gave notice that he would
do so tomorrow, as he expected there would
{ ben be quorum in the Senate. The Senate
then, at 2:35, adjourned until tomorrow.
Work Resumed in tho House.
The Speaker to-day laid before the House
3 letter from the Secretary of the Treasury
asking for an appropriation of $3.50, 900 for
adequate precautions at the Worlds Fair
for the protection of revenue from customs,
and for the supervision OF importations
Referred.
On motion of Mr. Peel, of Arkansas, o
bill was passed providing that Indian chill
iren shall be declared to be citizens when
they have reached the age of 81 years, and
shall thereafter receive no support from the
provided they have had ten
years of industrial training
Mr.. Otis, of Kansas, asked consent for !
he present consideration of resolution re-
,iting improper conduct on the part of Sec |
,etary Noble and Commissioner Carter, in |
'egard to the Maxwell land grant (said con-
iuct being alleged to be in pursuance Of q