The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-09-06
No Other Remedial Legislation
to Be Pressed.
THE PRESIDENTS PROGRAMME.
Repealers Not Making Much Headway
Against Silverites in Senate.
Senator stewart Assaiis Jeha sherman
PETER Preposes Free Coinage Of
Aiaminum-A soushera Inroms Tax
Messure-Harter's Bank BnI.

WAsHlssros CITY. Sent 5-The finan-
ciai policy of the administration was
clearly defined today. IL is that all sec
ondary financial legislation shall be post
poned till the senate acts on the repeal
bill. The house committee on banking
and currency, TO which falls the duty to
originate legislation TO follow repeal. met
this morning bat adlourned for week,
having learned that the president and Sec
retary Carlisle had expressed wish that
all remedial legislation be postponed till
the repeal bill has actually passed the
senate. There is no doubt the committee
intends TO follow this suggestion. The
object is 10 put spurs on the senate By con-
centrating public attention on It. The
house will keep the road clear for immedi-
ate consideration of repeal as soon as il
comes from the senate.
During q meeting of the senate COM
mittee on finance this morning there was
an informal discussion Of the policy TO be
pursued with reference to measures now
before the senate which have been re-
ported by this committee. Senator yoor-
hees announced his determination to push
the repeal bill as rapidly as possible, and
indicated that this will be done. at least
for the present, without reference TO other
bills which the committee had uLder con-
siieration. This is taken 10 mean that
whatever truth there may be in rumor
that the administration has other financial
plans brewing, or that Voorhees, himself
is anxious TO secure other legislation, AL
these schemes will be at least temporarily
held aloof and the repeal bill given undi-
vided attention. Senator Harris also
made an important announcement in the
meeting in behalf, it is supposed, of OPP
ponents of the repeal bill. to the effect that
hereafter it was his purpose TO demand
that at all times there shall be quorum
in the senate This announcement is sup
posed to have originated in the state of
affairs discovered in the senate yesterday.
great many bills have been fled IN
the house. A great majority are bills that
have already found q place OF, the calen-
dars of previous congresses, such as bills
to repeal the Federal election law, to re-
pay TO the states the cotton tax, to estab-
lish uniform system of bankruptcy, and
to increase facilities for prosecuting war
claims of various kinds. The original
bills chiefly grow out of theexisting tinan-
cial conditions Several are to repeal the
10 per cent tax on state bank circulation
and two are to establish IN income tax.
One by Richardson Dem jof Tennessee is
radical in its provisions. He proposes q
tax of per cent. on 50. 600 to 5000; per
cent. on 5000 to $1,000; 10 per cent. on
1000 to s20, 600; 10 per cent. on 1000 TO
$4,000; 20 per cent. on $50 coo TO $50, 1000;
80 per cent. on $50, 900 to Si0o, coo; 40 per
per cent. on all over 100000. A national
bank bill has been prepared by Harter
CDem. of Ohio, under the provisions of
which national banks may issue
circulation bonds to secure il. and
the bonds now on deposit with the
treasurer to secure circulation may be
withdrawn. The United States is to take
first lien on the assets of any failed
national bank 10 secure its guarantee of
the banks circulation, and in case the
assets are not sufficient to reimburse the
government the comptroller Of the cur
rency is TO make an assessment upon all
the national banks of the state in which
the derelict bank is located. divided pro
rata according TO capital and surplus, to
make up the deficiency. Besides rs per
cent. of circulation provided for as stated,
the banks may issue an amount equal to 50
per cent. of their capital and surplus, to be
known as emergency circulation, secured
by United States bonds. and pay o tax of g
per cent. until retired. Among other bills
introduced are: To provide for the aem
sion of Arizona and TO enable the pecpie
of New Mexico, Utah, Arizona and Okla.
homa to form constitutions and state gov
ernments and be admitted into the Union.
The silver men in the senate TODAY
sprung a surprise on the repeal forces in
the declaration of Stewart that hereafter a
quorum OF the senate would have
TO be present when the senators
spoke upon the silver question. If
the opponents of repeal insist upon a
quorum being present at all times IL will
be new move and may seriously inter-
fere with the programme of the friends of
repeal Substantially the entire day in the
senate was consumed by Stewart of Ne
vada. who took positive grounds against
repeal OF the Sherman act until silver was
remonetized The vote of the senate to
proceed to consideration of executive busi-
ness this afternoon was the FIRST setback
the repeal men have thus far sustained in
the senate.
Morgan of Alabama today offered a con-
current resolution Tor the appointment Of
. joint select committee on finance of
seven members from each house. 70 ex-
anime into the financial and monetary
condition of the government and people,
with a view to devlsing means for better
ment. Its power is very wide, including
the question of remonetlzation OF silver:
its ratio with gold: revision of the law re-
lating TO legal tender; repeal OF the state
bank tax: cause Of ihe present financial
depression: legislation TO prevent national
banks from abusing their privileges and
power TO the dstriment Of the government
and people. etc. IL was laid over.