The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1894-12-29

The collapse Of the Carlisle bill under
the attacks already made upon il was so
complete that the Secretary OF the
Treasury is trying 60 throw the RESPONSE
bility for the introduction OF il upon
poor Springer. We are now told by the
cx-speakcr that his bill was only n mem
orandum of suggestion; that lac OK
pected il would he revised and put into
shape 10y the committee before being
given 20 the House. Such is the reward
OF legislative sycophancy 1t serves
Springer and the majority just right.
They had no business TO abdicate their
jurisdiction and become mere messengers
Tor the head Of the Treasury department.
There is just one way for Chairman
Springer Co retrieve that blunder and
that is to cut loose from Carlisle and
submit bill agreeing with his own con
victious OF what sort OF currency The
country really needs. He is an able man,
and thoroughly alive TO the importance
OF maintaining n sound currency His
speech on the subject delivered in the last
congress was very able aud thoroughly
statcsmanike. The Inter Ocean devoted
considerable editorial space TO il, accord
ingit precisely the same measure OF praise
il would have accorded il bad il fallen
from the lips OF a Republican. Let him
recall the advice, ITO thine own self bc
true" lie cannot afford 10 cloud nm
honorable Congressional record with self
qualification in n matter SO important.
Mr.. Springer pointed out with minute
ness and force the objections to state
bank money. Not nm objection did lac
urge then that would not apply 10 the
latest or substitute BILL This substitute
differs from the original Carlisle bill in
that IL does not propose TO force the
national banks TO retire their bills under
existing charter rights unless they want
to. This is very important modiiica-
ton. IL removes the menace of a bank
ers' panic IN the summer OF 1895, which
could not have been avoided under the
original bill or course such relief Is 81
incalculable Importance. But il must
not be forgotten, nor its Importance
underestimate, that SO far az concerns
the wild cat the substitute is as bad ns
the original.
Secretary Cnrlisle's objective point
from the first was repeal Of the ten per
cent. prohibitory tax ON state bank
money. lie is willing Go do or undo
whatever may serve 90 promote that
object. lie is states rights southerner.
He inserted in the fore part OF his bill
what he supposed was Che Baltimore
plan, that seemed Co meet with good
deal Of favor from northern financiers.
But II the national banks do not like il hc
is perfectly willing 20 drop il. inserting a
substitute which is virtually. 40 lar as
concerns national banks, a bill with the
cnacting clause stricken out lie clings
bulldog tonncity TO his state bank plan.
That is the menace now suspended over
the country
IL is 60 be hoped that the house will
refuse TO unlock the cage Of the Wild cat
but il il consents Go do so then the
senate will become the arena oil the con-
test II need be the opponents Of the bill
should exhaust every resource OF hostili-
ty. No matter il nm extra session Of
congress would be rendered inevitable.
The closure does not obtain IN the
senate, and March 4 will soon be here.
II the country j. only protected from
this wild beast until that date all danger
will then be over. Inter Ocean.