Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1893-08-24
WORK OF CONGRESS.

/
of the secretary of the treasury as to tn
conduct of national banks in refusing (
pay promptly In currency the checks O
their depositors was taken up, and nc
tIon to refer 1t to the committee on fnanc
was made by Mr.. Hoar.
Mr.. Voorhees,, chairman of the financ
committee, favored the reference of tn
resolution and promised that 1t would no
be buried in the committed. Mr.. Kyl
argued against the reference which, b
said, would only mean the burying of tn
resolution.
Mr.. Hill opposed the reference and in
sisted on the adoption of the resolution di
reo:ly by the senate.
Mr.. Mcpherson favored the reference o.
the resolution and said if there had been
technical violation of the Law by the bank
the finance committee would report 1t. The
arrsignment of the comptroller ut this tim,
would make the panic worse. Mr.. VOL
colt opposed the reference.
Mr.. Hill said the only object In referring
the resolution was not TO act upon 1t.
Mr.. Mitchell of Oregon criticised tbs
resolution ss calling rather for legal op!n.
ion than for the facts.
Mr.. Butler favored the resolution and
opposed its reference.
Mr.. Cullom did not think that II the
resolution should be adopted any informa.
ton would be given that would disturb
public affairs.
nr. Hill undertook to draft come modi-
fcstion of tine resolution, but the morning
expired and the resolution went over. II
took it's place on the calendar, where II
can or y be reached again in the regular
order or upon motion supported by ma
jority vote.
Mr.. Hoar then made an argument
against Mr.. Buffers amendment TO the ma
tional bank circulation anticipating the
10 per cent. tax on state bank circulation
He said he was opposed to restoring to
state banks the power of issuing, circulst-
ing and furnishing currency. The people
were entitled TO have currency every
dollar of which had been equal to
changing in value go far as the
wit of man could bring that to pass That
currency should be national. 1t was the
function Of the national government to see
it was provided. It never had been pro-
vided by the states. He desired to relieve
the distress OF the people by authorizing
the additional use of national bank notes,
which were secured and ssfely guarded.
He was also willing take measures, In con-
cert with other commercial countries, for
restoring silver to its proper and perms
nent place in the service of mankind.
The notion seemed to prevail in come
quarters, he sometimes thought that IL
had penetrated the senate chamber and
had taken possession of the finance com
mittee, that the managers of eastern banks
were set of hsrpies, delightipg In the
misery of the people, reaping a harvest
from their distress, expanding and con-
tracing the currency, seizing business by
the throat and "bulliDg" and clearing"
the market 30 as to reap benefit from the
peoples sorrow. There was no truth
whatever in the notion. Whenever there
was an actual or threatened departure from
the path of steady business the first and
most emphatic remonstrance came from
the banks. In his own state the stock
holders of banks were, as a general rule,
persons of moderate fortunes, whose cav
ings had been invested in the stock, with
the desire not so much for large profits as
for permanent safety.
And the directors of the New England
banks were as general rule the class of
persons whom men select for integrity,
Weldon and prudence in the conduct of
such trusts. They were not spectators.
They were not rash and daring investors.
If men were to be sought IN whom an en-
during and unfaillng confidence might be
placed, they might be sought and would
be found among the managers of the bank
ing institutions of New England with as
much certainty as anywhere on the face of
the earth.
at the close of Mr.. Hoar's remarks the
national bank bill was laid aside and the
nj hA anr tan ON rixrfla ri
elections In favor of seating Lee Mantle as
senator from Montana was taken up.
Arguments against the adoption of the re-
port and the admission of Mr.. Mantle was
made. The vote was taken on the substi-
tute offered by Mr.. Vance declaring Mr..
Mantle not entitled to the seat. The vote
resulted yeas 35, nays &c. So the substi-
tute was agreed. The following Is the
vote:
Yeas-Messrs. Berry, Blackburn, CAT
ferry, Coke, Cullom. Dixon, Faulkner, Gal
linger, George, Gibson, Gray, Harris,
Kyle, Lindsay, Mcmillan, MCPHERSON, Man
derson, Mills, Mitchell of Oregon, Mitchell
of Wisconsin, Murphy, Palmer, Pasco,
Pfeffer, Plat, Proctor. Ransom, Smith,
Stockbridge, Vance, Vest, Wsehburne,
White of California and White of Louisi-
ans-35.
Nays-Messrs. Bate, Butler. Cameron,
Carey, Daniel, Davis, Dubois, Frye, Hane-
brough, Hswlsy, Higgins, Hill, Hosr, Hun
ter, Irby, Jones of Arkansas. Jones of Ne
vsds, Lodge, Martin, Perkins, Power,
Pugh, Roach, Shoup, Squire, Stewart, Tel
Ter, Turpie, Wslthsll and Wolcott-30.
Mr.. Henderson, who had changed his
vote from nay to yea in order TO make a
motion to reconsider, made that motion.
A motion to lay the motion to reconsider
on tho tchIa yvps mazda hint vrifhnut aotfor,
the senate adjourned, leaving the case still
open.
SILVER DEBATE IN THE HOUSE.
The louise met at 10 o'clock this morn
ing, and the silver debate was opened at
once by Mr.. G. w. Stone, rep, Pa, who
spoke for repeal and sdjured members to
disregard partisan feeling in dealing with
the subject.
Mr.. Covert, dem, New York, pleaded
for unconditional repeal and, comparing
silver to faithful servant fallen into bad
habits. held that nothing would suffice to
restore 1t but the gold cure.
Mr.. Fitch, dem. \. Y, followed on the
same line.
Mr.. DslEell, rep. Pa, commended for the
repeal of the purchase act and ascribed
the difficulties OF the present situation to
democratic hostility to the tariff.
Mr.. Ryan, dem, N. Y, announced his
intention to vote against each and every
substitute offered by the gentleman from
Missouri (Mr. Blsnd), and TO cast his vote
for the unconditional repeal of the pur-
chasing clause of the Sherman act.
Mr.. Hatch, dem, of Missouri was estis-
fed that the prosperity of the country and
the welfare of all the people depended upon
the decision of congress upon the financial
question. No man had a more supreme
contempt for the Sherman law than he had ,
from the first word to the last word. He
had denounced 1t; he had voted against it;
but, in connection with its repeal, there
should be some sttt mpt to relieve the peo-
pie and to move the great crops of the
country which were now lying in store
houses because there was no money to
move them. 1t WAS said that what the peo-
pie needed was confidence.
Mr.. Cummings of New York sid he had
not intended to speak until he heard the
srraiQnment of the New York democracy
by the gentleman from Mississippi (Mr.
Stockdale). The New York democracy
needed no vindicstion at his hands, but
the southern democracy needed vindication
before the people when It arraigned the
New York democracy.
Mr. Bell of Texas spoke in favor of the
free coinage of silver.
Mr.. Hicks of Pennsylvania, while advo
eating the Wilson bill, attributed the pres
emit depression to the fear of democratic
| tinkering with the tariff.
DENOUNCED BY DEMOCRATS.
The Iowa Democratic State Platform
styles the sherman Law a Coward
| " make-Shift.
L mr. % -Tha Mat