Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1894-12-18
MORE TIME GIVEN.
New Bank Bill To Be Debated
After the Holidays.
THE DISCUSSION 10 BEGIN TODAY

Special Order Prepared for That Par.
psss That Appears satIseacsosy 70 the
Republicans Consulted-A vote Probe-
hle by San. Minority Of the Bankius
COMMITTEES criticises the Bin-EAd q
the BlueAelds Dimculty.
WASHINGTON, Dec. 1S-Speaker Crisp
and his associates on the house committee
on rules have determined on q special rule
by which Secretary Cariisle's bill for the
currency revision will be debated and
voted on in the house of representatives.
The original purpose Of securing vote
before the holidays was given up. Instead
OF that it was arranged that the general
debate should begin today and continue
until the recess at the end of this week.
When congress reassembles on Jan. 8 the
currency debate will be resumed, Jan. 4th
and nth being given to debate under the
five minute rule. The vote will probably
be taken on Monday, Jan. a. 1t would be
fixed for the Sth if that were not jackson
Day" which many members expect to be
absent to celebrate.
Speaker to Decide o Point.
Instead of carrying the vote over to
Monday noon it may be determined to
take it Saturday night Speaker Crisp
will determine on the exact time, and the
special rule in accordance with the fore
going will be submitted by him to the
rules committee today. 1t will make no
provision for morning OF night sessions
This general programme for the debate
was arranged after numerous conferences
Chairman Springer, of the banking COM
mittee, had hoped to get vote next Fri
day, but the sentiment of the house was
against this rapid progress. Crisp called
in johnson of Indiana and Walker of
Massachusetts,, Republican members of
the banking cammittee, TO get their views
of the length of the debate. johnson
urged that ten days be given, bringing
the vote on Jan. 5. Walker did not want
any exact time limit fixed at the outset.
Criticism by the Minority.
The minority members of the banking
and currency committee severely criticise
the Carlisle bill. They say: 1.-THE whole
action of the party majority of the com.
mittee was most extraordinary and not
approved by its voting majority. Score.
tary Carlislt read a part of the bill on the
first day of his address to the committee,
saying he had not finished debating it
and would bring it in when he finished his
address to the committee on the follow
ing day, which he did. 1t was not read
or in any manner considered in commit
tee, and an opportunity to consider or
amend it was refused to all members,
Democrats and Republicans alike.
Some Pessimistic Opinions.
1T is the opinion of a number Of the
most clear-headcd and eminent f1nanciers
IN the country that il the Carlisle bill was
enacted into a law within twenty DAYS
it would precipitate panic far more
severe than that of 1893, as it would com.
pei the forced sale upon tine market of
nearly &,0O0,C00 of United States bonds
within six months" The repeal of the
act requiring the deposit of United States
bonds to secure circulation, it Is init.
mated, may be declared unconstitutional
by the supreme court if it is enacted.
Fault is found with the safety fund and
generally the bill is disapproved of in
severe terms.
Another Objection Noted.
The minority goes on to say: ITO pro.
vide as in section that every national
banking association heretofore organized
and having bonds on deposit to secure cir.
culation shall. on or before the LIST day OF
July, 1895, withdraw such bonds and de
posit with the treasurer of the United
states guarantee fund consisting of
United States legal tender notes, includ-
ing treasury notes, cannot he justified
upon any principle Of safe legislation. 1t
could not fail to produce panic, and the
rccklessness of such legislation would
startle not only financiers in this country
but in the world" Generally the minority
thinks the bill will result in system Of
state banks al one.