New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-19
NATIONAL BANK CIRCULATION BILL
THE ALLEN AMENDMENT VOTED DOWN BY TIL
SENATE-THE COCKRELL AMEND
MENT DISCTSSED.


MENT DISCUSSED
Washington Aug. ls.-Tne Senate was presided
over to-day in the absence of the Vice-Presiden
nv Mr.. Harris (Dem Tenn.) president pro tenn.
motion TO adjourn from to-day until MONDAY
was made BY Mr.. Faulkner (Deni., W. Val. ana was
resisted by Mr.. Iloar rep, MassD and Mr.. Frye
(Rep., Mc.)-the former suggesting the pr"prie'y OF
proceeding with the debate in the Montana Scna-
torial case. and the latter urging acton on the Ma
iOnal Bank Circulation bill.
Mr. VOORHEES, Dem. Ind. chairman OF the n
nance Committee. concurrcd in the necessity OF ac-
ton on the National Bank bill. The motion to nd
fourn withdrawn.
Mr. VOORHEES, reportcd from the Committee on
Finance bill TO discontinue the purchase OF SILVER
bullion, declaring It TO be tie policy OF the Chi'eu
States TO continue the Of both gold and silver as
standard money. Mr. Vest tDcm., MOI. on beha'i
Of the minority of the Finance Committee presented
n substitute for the bin. The substitute fixes IN"
number OF grains OF silver In the silver CONS Ol 'h'
United satts-.4644 grains 81 pure silver per dol
tar and pToportionately fer half dollars, quarters
ard dimes The bill and substitute were placed on
the calendar and Mr.. Voorhees, gave notice that ne
would call up The bill and address the senate upon
Il on Tuesday next.
The bill for the increase Of National bank circula
ton was then taken up. and Mr.. Allen Pop. N"bJ
advocated tie adoption Of the amendment offered by
him last Wednesday to suspend interest on the Donas
which the Increased circulation - IaSfl III MS
judgment The bill vl,ud commit the country 10 tho
policy Of the continue ton Of the National banding
system. and he believed tina, the time had come when
safety required the overthrow Of that system and the
wpipg OF II out Of existence speedily possible
Nine-tenths OF the people of Nebraska were, he de-
Glazed unalteaby opposed TO ny,hng looking 70 the
perLetuaton ot nc National banking system
Mr. stewart, OF Nevada. addressed The senate ana
gave history Of recent movements Tic il"er
question at home and abroai. re declared that the
Sherman law must not b. repealed until the whole
question Investigated and discussed. and The con
dition OF silver n money meta provided fOr lie
horcd that the pending bill would be stripped Of
every Objectionable feature and then passed This
was no time however for the National banks to ask
a further subsidy until every effort was made TO re
ueve the country.
MIR. Mcpherson Dem. y. j.. member Of the
Finance Committee. argued against the Alien amend
,pent. as calculated 10 defeat tho whole measure
Mr. Henderson (Rcp, Neb.) opposed his col
leagues amendment and favored tho immediate
rsssaee of the bill A like bill had passed The sen
ate three times, he said. without word OF oppo
sition He had voted heretofore for II. and he
vould vote for 1t now, and against any amendment
IN a. because he believed that dispatch was needed.
Cu,ck relief was demanded. and Congress should be
ouick 10 act rather than quick 10 debate. lie
totally disagreed with his colleague rs 10 nine
t,,,hs or the people OF Nebraska being opposed TO
The National banking system
MIR. PETER Pop Kan.) made speech against
the National banking system. AS banks OF issue,
the National Banks would. b" Sad' nave TO 60.
Tbcir usefulness had expired, ard they should no
longer cumber the earth.
After further discussion the vote was taken on
Mr. Aliens amendment, and II was rejected Yeas,
II: NAYS 80. There were good many pairs an
nounced The Senators voting for the amendment
were Messrs. Allen Bate. Berry, Coke, lrby' Jones
,Ark) Kyle. Martin, Mills PETER ana h"'cn,
senators George Pugh and Vest said that they would
have voted aye If they had not been paired
The next question was on the amendment oi'
fered BY Mr. Cockrell Dem, Mo- for the redemp
ton at their face value and accrued interest o'
such per cent bonds may lie presented ior
redemption and to issue grecnbacks to pay LOT
them. The amendment was opposed by MI NC
Pherson and ny Mr.. sherman The latter char
scteri1ed II unbusinesslikc transaction The
government Of the United States could not now In
crease ITS demand liabilities II would be unsafe 10
90 H. He would rather vote for the redemption
% tne per cent b0nds-a proposition which would
pe also wrong In principle. The very fact that
the government was increasing lis liabilities by the
purchase OF SILVER bullion had caused the disturbance
IN LONDON on account OF the fear. at one time
the announcement, that the certificates would be
paid In silver That had caused distrust and doub,
to the purpose OF the Government to maintain
all its money ut the standard value. Such n promo
sition would shake the foundations OF the Govern.
ment's credit. Nobody doubted that the Government
WAS strong, rich powerful. and able TO maintain
every dollar OF It's money and pay In gold and