The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1894-12-08

WARRINGTON, Dec. AT the opening
,r,bs session Of the house to-day on
nation ofMr. Martin, Dem, Indiana,
n. order for q night session this even.
inv to consider private pension bills
v,, vacated. The committee on bank
iny and currency was given leave to sit
during the sessions OF the house.
On motion Of Mr.. Haugen, Rep, Wis
,op,in the second Saturday in January
q. set aside for the delivery Of eulogies
an the life and character OF tha late
R.Drssentative George D. Shaw, of Wis
eonsin.
The house then went into committee
of.bs whole to consider the Presidents
massage and Mr.. Wilson, DEM, West
virginia. moved that the committee OF
A., whole be discharged from the con-
.idsration OF the message and that Its
,,riou, parts be referred to the stand
inc committees having jurisdiction.
Mr. Grow rep, Pa), in accordance
with notice previously given, took the
soor and addressed himself to the
banking scheme promulgated in the
Presidents message
Mr.. CROWS SPEECH.
For thirty years, lie said, the present
national banking system had been in
operation and no holder Of any national
bank bill had ever lost dollar, nor
would such loss occur as long as it con.
tiuued. The system furnished sound
circulating medium and met all the re-
ouirements OF the people with the ex-
esp,ion, perhaps, Of elasticity. He de.
s.ribed at length the operation OF the
prs,ent system. He believed the pres
snt law should remain exactly as 1t was,
except that the banks should be al
loved to deposit money as well as bonds
for circulation, and take out Sll0 on
every 500 in money deposited and cir
eqlation up to the, par value OF bonds.
State banks, he believed, should have
the same rights OF issue, with the same
liability to the government, together
with persona liability OF the stock.
holders. To prevent undue contrac-
ton, no bank should be allowed to re.
dssm its circulation at a higher rate
than 10 per cent each month, and no
bank should be allowed to reduce its
circulation below 25 per cent, except to
20 into liquidation.
III bank can take out Sl10 in cir.
calation on 500 Of money where is the
elasticity Of your system2" asked MIR,
Hall Dem, Mo- "Certainly nowhere
except in allowing the reduction OF
bank reserves from so per cent to 100
per cont during the months OF October,
November and December, the period
when the crops are moved. An elastic
currency must be based on an elastic
credit"
Nj. Grow (Rep., Pa replied that no
sound currency could be based on
credit In the final adjustment q dol
lar must be behind every dollar OF cir
eulalion,
The motion Of Mr.. Wilson was then
agreed TO.
In the morning hour Mr.. McRae,
from the committee on public lands,
called up the bill to protect forest res
CREATIONS.
A GRAVE CHARGE.
Mr. Wells (Dem., Wis., opposed the
bill in every feature. The attempt to
drive this bill through under whip and
spur smeilsd, he would say SAVIOR, II he
did not have such high respect for the
Chairman OF the public land commit
Tee, Of Doodle. It was said that the
forest association was behind this bill.
there was another association behind
1t, which had its origin in Maine fifty
years ago and had now extended to the
Faclhc slope. 1t was an association OF
timber thieves aud land sharks. That
association was behind the bill. II
these timber thieves were allowed to 20
into tho public forests they would bribe
me agent ot the interior department
and destroy them.
When MIR. Wells took his sest, Chair
man McHae arose and Indignantly de-
MED that there was any land ring or as
soeiation behind this bill. He had as
iamed the responsibility for the bill
Snd II the gentleman from Wisconsin
EaeT oil any hidden power behind it he
would yioId time to him to make known
i!s nature.
y said before" replied Mr.. Wells
iholIy, that l believe in your honesty,
put The gcntlemani is green in thelumber
business, and believe tho gentleman is
tool Of"
i may be green in the lumhor husi-
ness returned Mr.. McRae, "but take
ptue IN tho fact that represent one OF
we largest timber sections OF the Coun-
~ My state, however. is not effected
" ms bill. There is no interest bc.
nIau THIS bill save such rs ought to in
,pte every patriotic American-the
projection OF the forests from devastAt-
'"g hFea and timber thieves"
Ia's this bill, he said impresaively,
'1iIi anI In one hu ndred years your children
S''i rise up and call you blessed. The
"loFy Of tho old world furnishes les.
.ou Which this country ought to learn.
snu The record OF millions OF acreS OF
Hnber destroyed by fro this year attest
'"suf2ent necessity OF immediate action.
~ conclusion McltaO said ho realized
'nI 'nIt Tho bill could not be passed. to-day,
cnu appealed TO the committee on rules
''' Especial order for its consideration.
THE POOLING BILL.
Alter Some further debate by Mr.
wilson rep, wash..), PIckler (Rep.,
w. D. and Corrccn Dem, wyo.,) the
"0,. mo,n,ag hour expired, and in accord.