Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-08-15

Threatens 20 assume SuCu stuoN"4 -
shape "a 90 preclude the pOssiOiHty OF
definite action for weeks 20 come.
While mOnOtOnOus debate over the
ouestion OF free coinage or repeai is
PROGRESSING 10 the House with no pros
pect of a vote until two weeks from
TODAY. the indications are that the
Senate will devote its first legislative
action 90 entirely another remedy iOr
tbe financial situatiOn-that OF permit
ting National banks 20 issue currency
To the full par value Of their United
Ststes bonds or deposit In the treasury.
DEVELOPMENTS were discOuraging to-
day 90 those who have hoped Tor IN
conditional repeal The Introducing
by Senator VOORHEES, Of the Increased
currency bill indicates that the finance
committee will first recommend the
issue OF national bank notes 10 the par
value of bonds deposited, ana that the
other questions will be reiegated 10
future consideration.
Later I'm the daY, when Senator vest
affirmed bis allegiance 70 oi-metalilSm
and spoke against uncOnditiOna. repeal
OF the Shermaa act, the repeating men
fouDd greater cause for diSappoirtme
Senator Hiu showed his willingness 70
meet the issue by presenting a resoIu-
tion declaring that no legislation per-
taIpiug 20 other than the finances snau
be considered az the present session.
Indeed. aII the developments OF theday
we're discoUraglng.
The National Bank note bill was In
troduc.d by Senator Voorhees,. IL reads
as follows:
THE TEXT OF THE BILL.
"Be IL enacted, etc, That upon any
deposit already or hereafter made OF
any United States bonds bearing Inter-
est In the manner required by law, any
National Banking Association which has
made OF shall hereafter make the same,
shall be entitled 10 receive from the
comptroller Of the currency circulating
notes OF different denominations IN
blank, registered and couutersigned as
provided by law, not exceeding 10 the
whole amount in circulating notes thus
issued the par value OF the bonds depos-
tied; provided, that az no time shall the
total amount of such notes Issued TO any
such association exceed she amount at
such time actually paid in rs It's capital
stock. "
ACCOMMODATING the bill was the fol-
lowing letter from Secretary Carlisle:
TREASURY DEPARTMENT,
"OFFICE OF THE SECRETARY,
"WAsHINGrON, ID, c., Aug. Ii, 1898.
Hon. ID. ~. TOrhecS,
MY DEAR SIR:-YOur favor Of the
10th inst. incIoSing form Of a bill, 90
eI ~ nfr la Y Irf u
notes 20 National banks, and asking the
views of the Secretary OF the
Treasury as % the advisabllitY Of
its passage, Is received. The
enactment OF such q law as proposed
would enable the National banks TO issue
and out 90 circulation at once on bonds
already deposited with the Treasurer OF
the United States about Sl9,0OO,OO In
currency in addition 90 the amount now
authorized: and this. TO my opinion,
would afford @ very considerable meas
ure Of relief 90 the country under exist
ing circumstances. !, therefore, recon-
mend the passage Of the bill.
Respectfully yours,
81 O.. CARLISLE, Secretary"
TO cox THE TREASURY BULLION.
Mr. Mitchell, Republican, Oregonl
offered an amendment that no change
can be made in the tariff laws during
the Fifty-third Congress.
Mr.. Vest democrat, MissOur), in
trOduced a bill for the coinage Of silver
bullion 10 the Treasury, and that ma
tional banking associations shall be en-
titled 20 issue notes 20 the value at par
Of United States bonds on deposit. The
bill was referred 20 the Finance Com
mit,ee.
Mr.. Hill Of New York, offered a res
0lution that no legislation other than
that pertaining 20 the finances shall be
considered. He asked that the reSolu-
zion lie on the table for the present
Mr. Stewart, (Rep., Nevadal, sent to
the Clerks desk 90 have read an article
from the New York Recorder headed,
"Give Us Free Silver" After a portion
OF the article had been read. 0ajec-
zion 20 It's further reading was
made by Senators Hoar and HaWley,
and the article was ordered printed as a
document-Mr. Stewart remarEing tha,
the Recorder was the first paper To New
York that had said a word for silver,
auQ LlhL tu0t eAoWgN SAtuOA tAo SOU q
ment Of New York on the subject OF sill
yer was changing, or that the Recorder
was a very brave paper.
Mr.. Vest, before beginning bis speech
in favor OF silver, had read the declara'
tlons in the Republican and Democratic
platforms on the subject OF silver, 10
order 20 show that both parties were
practically agreed on that question.
TAKING Up THIS SHERMAN ACT.
Mr.. Vest spoke OF it as a harmlessand
homeless legislative dog. Nevertheless
he would vote against its repeal with
out a guarantee that silver shall exist
asa money metal. He had in all his
speeches in Missouri declared Mr.. CleYe'
land 10 be a bimetallisL he had the
right 60 make that statement because
Mr.. Cleveland had accepted the
nomination on a platform which pledged
the Democratic party TO bi-metallism.
He did not undertake to say that the
President could not give his sanction
TO a measure 20 coin silver az CON-
merclal ratio with gold, but that the
Presidents message was most signih-
cant for what it tailed TO say. With the
greatest respect for the President and
without the slightest doubt Of his hon
esty OF purpose, the President failed, ip
that great State pager, 20 say one word
IN ras etalhsm, he certainly
sratlon Of the qaes