Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-09-10
DRIVE AT THE BANKS
Declares Half a Dozen Banks
contsolled the Currency
COUNTY, At THEIR MERCY
IsIl<r Paid Hl~ Respects 90 se~-p4-
per- Epr Advice and Argued ia
Defrssse OF sherman Act

WAsHISeTos. Sept 9-Thers vas .
very slim atfsndance when the senate
met this morning. about twelve senators
on each side u the chamber. The reso-
luton offered yesterday by Mr.. Pefsr In
relation tolnafionai ban AZ of Neu York.
Bosfon and Phllasislphia vas laid bsfore
the senate and Mr.. PETER proceeded 10
show that the national banks OF the
country wsrs the pets of the government
and had bssa ever since their institution
In i31a he asserted that the national
banks q those three cities had con-
pelled their depositors 10 accept. under
the most distressing circumstances. Sc
curities IN the place Of lawful currency;
add ths business of the whole country
had thus heea placed al their merey.
The small BANKS were in no sense re-
sp0Dsible Tor tbs condition u the bank
ing system. bot the hanks of Boston.
New York and Philadelphia were respon-
siDle FOE u; and those banks we're large
ly under the control u half dozen men
nos to exceed a dozen. and all these were
engaged IN speculation m Wall street
lie summarized the money transactions
showing that about per cent had been
repso-ented b. cash and ninety one by
checks. drafts. aud other substitutes for
monies. and be suggested how much
better u would bc 4 al the business
.except Tor very large amountsl. had
bccn done IN actual cash. tirsl. because
there would Dc great deal more money
"a circulation. and the people would got
the benefit u it. aud second. lecause it
would keep the hands of banks away
FROM the people.
AZ the close % Mr.. PETERS remarks
the resoiutions. under the rules. weut
- the calendar. from which 10 Gao only
be taAcn on motion BY a majority vote.
I.ecturrd by the Press
Mr. Teller then addressed the senate
on The repeal bill tie commenced his
speech b referring 10 -lecturing"
which the senate was recel, ing from the
newspaper press of the country. Ssna-
tors. be saId. we're ordered as IL they had
masters 10 proceed without deliberation.
Not only had senator's been told that
they must vote at once. but 10 had been
asserted over and over again that sena-
tors who represented states fortunate
enough % 10 hled with mineral wealth
were representing their individual in
terests aud had not even the right 10
vote on the question. He should not be-
deferred from doing his duty az be saw
u. BY any newspaper aftache or by any
chamber u commerce. appeals They
would Be powerless 90 Affect his vote or
g. change his course on the pending
measure.
VIII Not He Butidoxe,f-
tie read a dispatch from Washington
Stating that the negotiations for the sur
render 81 the SILVER democrats IN the sen
afs we're az an end. that the administra-
ton insistcd on unconditional surrender;
that Senator Vest vas now the aagricst
man against the administration that
could DC found in the country. and bad
Threatened % JOIN Ia delaying action.
However much Ne may differ from the
president. none of Us shall ever come to
The degrading conclusion that be will
ssat a message 90 United States sena-
tnrs seeking % control their action. As
q shat - stated IN regard 90 my action
about delay. lt Is simply Internationally
fass aud the product ~ newspaper
imagination. incited by newspaper
rivalry. ! know that the day q great.
n fsparars. edited by great editors. IL
past. AMI faaf the publication u A news
raesr "a li.se the running - nlanufac-
tory liz IS Tor money. do not say
tat thev are always false. or cven some
Zines false but mean % say taat they
on longer represent the public
Hr Teller then addressed himself -
tts -hefmsa act g show that under 10
far over teo Years the country had been
Prosperous. and that rs only infiuence
has teen hrnrfcisl
So n SIR Teller vas still on the
haof. hut h.s voice was getting husky.
sai STR voorhees, moved an executive
aF-i18
thr slee prfsiient announced the fol
l1winx appointments a. committees.
NJ Perkins. civil service and retrench-
uens education and lsior. naval affairs.
ia,fsn letTslaiion-. select committee
O. invest gate the cundifion q the Poto.
mae river. Mr. Guay. Pensions. Mr
Carey public buildings and grounsis
Affrr 20 executive -csSi0r the scnatH
az iu sdirarned unfii Monday.