Evening star. [volume] (Washington, D.C.) 1854-1972, 1892-06-13
He Speaks Upon It in the Senate
Today.
IT'S CONSTIFUqIONALITY QUESTIONED,
But He Thinks the United States
Can Loan Money.
FREE COINAGE AGAIN
MesSrs. Mcpherson and Morgan
Speak on the Subject.
THE SENATE.

Not single one OF the Senators who have
been in attendance on the Minneapolis conven-
ton was In the Senate chamber this morning
when the session opened There were but
twelve Senators present on the republican side
and q few more than that number on the demo-
cratic side
The first indication Of the democratic move
ment on Chicago was the granting Of leave of
absence to Mr.. Voorhees, until the 26th instant.
The pension appropriation bill with amend
ments was reported back from the committee
ON appropriations and placed on the calendar.
Mr.. PEvFER's LOAN BILL.
The bill introduced by MIR. PETER on the 26th
Of May, "to increase the currency and provide
for its circulation, to reduce the rates Of inter-
est and to establish bureau Of loans" was
taken from the table and Mr.. PETER addressed
the Senate in explanation and advocacy Of it.
1t provides for the appointment by the Presi-
dent OF three commissioners, to held their
Office in Washington, whose duty ii shall be to
establish loan agencies, one at the capital Of
every state and territory and at other conven-
lent places, such loan agency to be known as
the central loan agency for that state or terri
tory. The business Of these local agencies is
to be to lend money to the peple on the plan Of
weu-regulated real estate and loan agencies, Sc
cured by real estate. The loans are to
be for not less than one year nor longer than
$l00 nor more than q, 500 to any one person
or family. There Ia no provision as to the rate
OF interest. In order to provide funds treasury
notes are to be issued equal in amount to 81. 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 here
after to receive interest at higher rate per
annum than per cent for short time or per
cent for year or longer.
There is a section in the bill providing for
loans Cat one-third of one per cent a monthly by
the bureau Of loans for less than twelve months,
on the security Of personal property, wherever
any state shall have provided warehouses for
agricultural products, such cotton, wheat
and tobacco, and for manufactured articles that
will not deteriorate by storage few months.
Much Of Mr.. PETERS speech was in denuncia-
ton of usury, which, he said, was breaking down
the republic. The people, he said, were in
earnest about that matter. The republic would
60 down unless the people were saved; and there
was no way OF saving them except by destroy
ing the great evil Of usury. The bill was in that
line. 1t WIS suggestive and helpful, and at
least deserved the consideration Of the Senate,
At the close Of his speech the bill went over
without action.
The Senate, at 2:35, adjourned till tomorrow.
THE HOUSE.
The Minneapolis contingent Of the House
had not arrived at II o'clock today, when the
body was called to order, and the attendance
was not large one.
The Speaker laid before the House Q letter
from the Secretary Of the Treasury ashtng for
an appropriation Of $3.50, 900 for adequate pre-
cautions at the worlds fair for the protection
Of revenue from customs and for the super
vision of importatiOns. Referred.
On motion of Mr.. Peel (Ark.) bill was
passed providing that Indian children shall be
declared to be citizens when they have reached
the age OF twenty-one years, and shall there
after receive no support from the government
provided that they have had ten years Of in
dustrial training.
THE MAXWELL LAND GRANT.
Mr.. Otis Kan asked consent for the pres
ent consideration Of a resolution reciting i'm
proper conduct on the part of Secretary Noble
and Commissioner Carter in regard to the Max
we'll land grant (said conduct being alleged to
be in pursuance Of a conspiracy entered into
some years ago by Stephen B. Elkins and ]. A
williamson, and asking for special committee
OF seven members to inquire into the matter.
Mr.. PAYNE On: W objected and the resolu-
ton was referred.
On motion of Mr.. Bankhead Gala the Senate
bill was passed granting the Washington
Scheutzen Verein permission to erect a bust Of
Baron Won Steuben in one Of the public res
ervations in Washington.
The floor was then accorded to the committee
on the District Of Columbia.