The Washington times., 1894-12-16
0aIy One Majority Was Given II In
the Barking Committee.
Two DEMOCRATS OPPOSED 1T
Representatives johnson, of Ohio,
and Ellis, of Kentucky, the Men.
The Bill to Be Reported to the House To-
morrow and Forced to Vote Under
Special Rule the Next Day-Republicans
Strenuously Opposed Kurrying the Meas
ure Through-views of the Bankers.

Bau ing ana currency last evening declueu
10 report the Carlisle currency plan to the
House and ask that it be taken up for con-
sideration at once and voted on before the
holiday recess.
The scenes in the committee room all day
were full of interest The hearing of the
morning and was continued most Of the day.
Then the Democratic members of the COM
mIttee indicated that they were ready for
committee action on the bill
lit seems to me- said Representative Bro
sius. Republican, that this is very short
consideration to give in committee TO n meas
ure affecting all the financial interests of the
country as this does. move that ten days
more be devoted 10 hearings.
But Mr. Brosins might as well have butted
his head against the new marble wall Of the
down. The Democrats of the committee
laughed him 10 seorn. and voted solidly
against his motion. while the Republicans
voted solidly with Mr.. Brosius.
Then the Democrats of the committee
gently intimated that if the Republicans
would retire and give them n chance for
little caucus they might be ready for action at
once So tte Republican members withdrew
and cooled their heels in the House lobby
half hour.
There was pretty sharp talk inside in the
meantime, and il was quite apr aren't that there
was. not to, be entire harmony within the
dominant patty on this question. Meantime
the Republ. cans agreed that their votes
should be cast
TOGETHER on ALL PROPOSITIONS.
When the full committee reassembled Rep
IL. .bot .I
Carlisle bill be reported. This prevailed by the
vote of TO s. as stated Chairman Springer
announced that the Democrats of the commit
tee had agreed on rule for conducting the
debate. This contemplates reporting the bill
Monday. general debate Tuesday and Wednes-
day, dictate under the llve-minute rule Thurs
day and Friday, and vote at p. IN. Friday.
Ii was also provided that the daily debate
should begin at IL n m. and that there
should be night sessions. Mr.. Springer stated
that no amendments would now be offered TO
the Carlisle plan. but that il will be open to
amendment by any member on the floor of the
House
The rale for debate caused warm discus
sion. Messrs. johnson. of Indiana, and
Walker, of Massachusetts, Republicans. an
tagonized it on the ground that the bill was
being "raiiroaded" through Congress. Mr..
johnson moved an extension OF the House
debate TO ten days. Mr.. Culberson amended
TO seven days. Both motions were defeated.
ThereupOn the committee ad .ourned with
out agreeing to the rule Mr.. Springer
stated however. that he would make the re-
port in accordance with the vote Oft COM
mittee on Monday, and, as the subject was
uivleged one, would call it up Tuesday.
The Committee on Rules is expected to fix
next Friday for the vote in accordance with
the original plan of the Democratic members
OF the committee.
Secretary Carlisle was present at the open
ing of the session. The bankers TO be heard
represented two widely divergent views, Pres:-
dent G. G.. Williams of the Chemical National
Bank of New York, representing the prevail
ing view among bankers. while President W.
?. st. Johp OF the Mercantile Bank Of New
York, represented the
EASTERN VIEW FEv6RAB1E TO SILVER.
The presence of Mr.. st. John had drawn
Senator Teller to the hearing, anxious TO hear
the views OF an Eastern silver man on cur
rency revision.
There was added interest in the statement
of Mr.. Williams, who opened the hearing,
from the fact that the bank Of which he is
president has the largest deposits in the
United States, if not in the world "The
situa ion is one requiring firmness and COM
mon sense said he. 1.-The first problem in
our clumsy and conglomerated financial sys-
TEN is the disposition to be made of our legal
tender notes"
He urged that these notes should be funded,
$4,000, 600 at a time, until they are elimi-
mated from our fiscal system. Bonds at 3
| per cent. should be received as security of
! national bank notes on a basis OF par for the
I bonds, the government to have first lien on
! the assets of the bank. These notes should
be redeemable in New York city, and when
Z iGGuaH in pipnf yOlnma and hpinU readily
convertible. would furnish adequate elastic
ity TO the currency.
There was especial interest in the hearing
of Mr.. st. John. who is one of the few New
York bankers friendly TO silver.
Under official dictation," began he,
''tutored by the one most aggressive OF all
our handful of 'goldites' in the United States,
CONGRESS RIDDLES WITH BANK NOTES.
while the burning issue is our primary money
| (coinl. Identcally tutored. our chief ex-
ecutive has required his secretary to abandon
the option conferred by low upon the United
! States and grant to holders of the United
/ States notes the right to exact gold always,
| silver never. as their redeeming coin. Had
! the option to redeem in silver dollars been
exercised boldly at the time when only 3,G00-
! 600 silver dollars were owned by the United
4 States with an ownership OF SIG, ,00O, COO gold.
! any possible alarm cDulu DdN6 Docu IduSutu
! TO scorn. To attempt to seize upon and ex-
ercise the option now, or under Immediately
! prospective conditions of the Treasury, would
/ be to court all the perils of disaster"
Representative Culberson, of Texas, ques-
! toned Mr.. St John as to the remedy he
would propose for present conditions. The
witness presented bill as the remedy. 1t
provides for silver coinage. On the same
basis as gold. To meet money stringency
! the bill provides for coin certificates based
on bonds hypothecated by the banks in such
! quantity as the Secretary of the Treasury
may determine. Mr.. ST. John said the bill
would put the country on silver basis for a
time, thereafter both metals would circulate.
As to the Carlisle plan, Mr.. st. John said il
would "fall fat'' Banks would not accept
4 IT, They would become State banks. But
the Secretary's bill was better than the Balti-
more plan.
Chairman Springer-Would the currency
under the Carlisle plan be safe?
Mr.. ST. John-There would be no cur
rency issued by them. They would not accept
it. Instead OF that you would have the
WORST PANIcoN RECORD.
He pointed out that the safety fund.-
under the Carlisle plan was to be accumu-
lated in small percentages, and would not be
realized for ten years.