The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-08-24

Charges VI D'SAoS"AVJ w NAS'S'0"A'
An Unhappy Family's Row.
WasalSa7ow, D. O., August 91.-The
resolution which was introduced yester-
5sv by Senator PefIer calling on the sec
rolary Of the treasury for information
ntowhothor the national banks OF New
York, Boston and Philadelphia were
conducting their affairs at present in
violation Of law regarding the amount
Of their reserve, the payment OF checks
and the ratos OF interest charged stirred
ap in tho senate when it camo up for
consideration to-day debate which was
tho sharpest ono of the. session. The
cause Of Mr.. PETER was sustained by
Senator Hill, OF New York, who broke
away from tho leadership OF Mr.. Cor
man and Mr.. Voorhees, and, in direct
opposition to the position taken by
them, made several speeches, which
showed division in the ranks. e..
Mr. Hill took position which indl-
Gates that he has opinions and views OF
his own that are not to be nodded by
those who have been considered lead
ers OF tho Democratic side in the SEN
ate.
The report OF the committee on elec-
tions and privileges in favor OF the
right OF Lee Mantle to q seat in the SEN
ate on appointment OF the governor Of
Montana was taken up and decided in
the negative. Tho vote was taken on
tho minority resolution declaring Mr..
Mantle not entitled to q seat, and it was
carried 50 TO 30. AS Mr.. Manderson
changed his vote in order to move to
reconsider, the vote had really stood 81
to 81. The motion to reconsider was
made and was pending when the SEN
ate adjourned.
THE PROCEEDINGS.
The resolution offered yesterday by
Nj. PolIer was taken up on motion to
refer it to tho committee on finance,
made by Mr.. Hoar, who said that in a
time Of popular distress and panic the
comptroller Of the currency should not
DO compelled to drive the national
banks up to the strict letter OF the law.
Mr. Voorhees, favored the reference to
tho finance committee, promising it
would not be buried there.
Mr.. Hill Dem. N. Y. opposed the
reference and insisted on the adoption
OF the resolution directly by the senate.
lie did not assume that the comptroller
Of the currency violated the law, al-
though the senator from Massachusetts
tNIr. HoarJ had said that 1t was likely
or probable that the officer had, in
some slight or trivial respect violated
the law Of the land.
Mr.. Manderson (Rep, Neb.) was not
prepared to say the technical violation
Of law by tho national banks OF Boston,
New York aud Philadelphia was not
perfectly iustifable in the present dc.
plorable position. He favored the
adoption Of the resolution.
Mr. Wolcott (Rep., Col.) opposed the
reference Of the resolution. Mr.. Cor
man lDem.) argued in favor of tho
reference Of the resolution. For the
third or fourth time during the present
monetary system a point had been
reached when the national banks were
failure so far us their power to relieve
the condition OF the country was con-
corned. 1t had been reached in 1873,
1877, 1887, 1890 and 1893. AT these
periods it was utterly impossible for
the banks to comply literally with the
law. They had violated it by refusing
topay checks OF depositors and had is.
sued clearing house certificates. They
were doing that to-day. They had done
ltwth the eye OF tho secretary OF the
treasury and Of the comptroller OF the
currency upon them,. but the enforce.
ment OF the law on any OF those occas-
ions would have resulted in the de.
'tnction not only Of the financial in.
'tiiutiona but every interest Of the
country. Every ono knows that
there is technical violation OF
lilo law, but 1t Is the duty OF the
mon in charge OF the government not to
aal to the distress. Under our present
system OF finance the banks arc power
INSs, unless they act as they are acting.
There Is no relief to be given them. On
l0Imer occasions relief was given by the
sale oibonds, by tho deposit OF govern.
imcnt funds in tho national banks and
Uy tho anticipation OF interest OH the
ponds, But now, mono OF these rene.
aIOs can bo applied. The secretary ol
lho treasury apd his chief find them.
selves powOrless to give rolief. Bonds
cannot DO redeemed, for you have LETT
n9lhlHg in tho troasury to redeem thom
with, No deposit OF government funds
can DO nado on tho banks, because
mc money Ia not in tho treasury. The
adoption Of the pending resolution
would bo understood by the country
auu by tho executive officers Rs nm OK.
preston OF opinion by tho senate thai
sho aw must DO enforced, and that
Would mean destruction to the interests
1.-The country.
HILL RErLiEs.
Mt Hill replied to Mr. German. The
only object Of referring tho resolution
S''' ho oaid, not to act upon 1t. TnOrt
never had been so bad case In the his
nty oil tho country that It's advocates
"0l .l hol always pleaded that the matter
|S1lnpIalncd Of was not in tho Interest
VI lhe public welfare.
Mt Woshburn lRepu Mlnn.)-Wha
goN no senator from New York pro
po'O mat tho senate shall do7 II tht
WInplroIlcr ol tho currency reports
,,N ,N thCtc has been u technical vlola
ug9 Of the law -
ah iiill--l havo made no proposl
on Ihatis matter for the senator
.lm Nansis llo must bo tho judgd o
what ~ his duty undor lho clrrum