New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-12-20
THE CURRENCY DEBATE.
,o,,N DE WITT WARNER COMES TO THE
prsc1,E OF STATE BANK ISSUES.
am JOHNSON oy INDIANA. POINTS OUT G1AR'N'
nrrEcrs IN THE SPRINGER BILI~MR h'''''

MIR JOHNSON oE INDIANA. POINTS o'i '''''''''
DEFECTS IN THE SPRINGER BILI~MR ELLIS
AGAINST 1T FOR DIFFERENT REASONS
,,,,,,n,or Dec 1a-The speakers In the second
,o,s discussion of the Currency Dill IN 'ie o"s
".re Messrs Johnson Caep.. lnd)' warner 49, 49,
~ VI and Ellis (Dem., ky.), al "e'" -
Committee on Banking and Currency A., IN
~ Iohnson CRep. Ind spoke against .he o
| He admitted that some change was =, 10.
This was not a time to make experiments "
,ation The conditions were not ai'osetne' ""D
ohla and could better be endured "h"e Oo"e..
.os considering and formulating "'se
49,, ,ho, tho country should be compehe" u 'e
- ,,ornv path with bleeding feet owins W
the enactment OF hasty and iil-adviS'u Ia" ,,,..
Wv I'm ., such importance should not be driven
,h IN no more time than member Oh '"e
tIouse would expend In swallowing cup VI '
NJ. I'm ,,self Mr. Johnson said from prea'noe
=, tic closing section. was vicious anu il e'"''''
,o.o law would result In CONFUSION WIS N'
@,,d 81, comes to the House. ne sau' wiz"
,be brand of Cain upon It's brow p'"'"
,ho ma ioritv OF the committee, wheh II s"o"''''''
,ho hill 70 the House for consideration
,rho rcnor, Of the ma iority was prepared before
-. hearings bv the committee were concluhed'
I, was significant TO his mihd 'na' was -,
hsrdv.riting with which the House was I"'"''''''
and no believed he was warranted III saying ''''
49,, members Of the majority refused to even agree
fn
. ,,us washing their individual hands OF any
os,onsib,litv for its parentage. The bNI had ie-
c.ived the Enforcement OF no one except us ""'no''
The Controller Of the currency hhh ""o'"''
echeme OF his own. from which. Mr. Johnson sh''
Ia v.os forced 10 the conclusion that although MT
Eckels had not been 80 long In pubic NE ~ Ms
ch,oc no had graduated from much sounder
echool Of finance or all IN" Witnesses before the
Committee on Banking and Currency NOT one APP
proved the bhL -, ,,
ment
! Mr. Johnson should be SIad u U' s'"'''"""
| Will name
Mr. Han / will give 1t to the gentleman before
! he concludes
Mr.. Johnson would Ike to have 1t now.
| Mr. Han snid the testimony comprifed q" page'
ana he. had not had lime to go through II all. but
he had found I'm the statements OF Horace "hi'c
and ". r.. Dana approval Of the plan
! NJ johnson responded that NJ. Haifs statement
but criuhaylscI what pc had claimed. that th"r"
| was IaGrrcat haste exercised y. presenting TINS
natter % thr House. fpr II the gentleman "h'
heard all the statements could nor tell what they
contained VIVA; nir. be- the condition % ~" great
! lody % the House who hat had no opportunity
| +, oc,usin. Themselves win tho contents Of IN"
! volume Is - the assertion inhi White ana Dana
| approved the plan. " Johnson siid witness :
statements were not o. be taken upon what b" trsu
fed to In examination In chief hu' upon the results
| OF CrsSS-pNf inlNtiiDN iul I'-'N'i'Ni''t'''''
in an soo,ci scnt'nce. these gentlemen SCENE" 10
| apnroye some par 81 the sccr'iar)'s BIZ, b. conld
| rot D.. said that They approved Oh" plan
| NJ Johnson rcscf-.i - NJ Springer 'lfi on
| Tho State hilk tax question III c'Tfn"ii'h me-
couras. AMI Intelligence Ia voting against the re-
| pen, 81 that iax. "hl' / an sorry mat Pee has
| ,,snsed hi. mind The change in the gentleman g
ylcvs finds BID c..na, iu sacred or p-0iane history
save in ne case % Saul OF rar7re. iini there The
sinii .rity cuds. Fpr. wn-e saul ~. 'pnF''ir1 -
| tie risat the gentleman from Illinois has been
| covered - the wrong
sir Warner dem y. y ss.l tiai me u'i-e a"i
| e.,turcS INDUCED ia iy ser;l'fura on the other
side were but Iaft - the practice INDUCED )" o."
| ,o. Republican ste when tn.y we're afraid i"'
| democrats were about 10 30 something. th"lcioi"
ne should ash 20 De excused from replying To TIE
r,. Of terror so shrlly cmitie! hy the gentleman
from Nassachu-,iis CIr WakcU OF - tho peal ~
J tho alarm h.I the rope ~ which had been 80
Justly yanici by She gentleman from Indiana 'Ni'
L. ,oua however. refer to q few statements
made by thc gentleman who had Just ,lMei h''
J 80, 49, ,. ,ruos'd 10 the state Bank
e't',r. ~ The carlisle bin The assertion 10, VT:
| Ly - slrelc witness before the Committ"" on ibhnk
| ing and Currency Was also coniro'eit"d 40 NJ
| ir thc sfat'rncnt that With the exception, %
Mcssrs 81 John and 4. ) M1Ine, ana one "i ita
! laid down In The Carlisle bill ana hIfey o. lnr
very details pIopot,a me D, II, r.sord ~ IN"
| committee after consideration. and was measure
| iha, proyllc1 an elastic currency IN place OF the
| financial strait Jacket In which the business OF
| Inc country was being conducted. II proposed 10
take the Government out OF the business OF 'rsu
| ing currency and that Orc provision alone. Mr
| Warner said Was important and desirable thnt
| II would have to he n mighty bad bill In AL other
! respects before he would hesitate a moment 20
| give IL his support Mr.. Warner defended IN" Oh
| State bank issues against the charges OF unfeh"
| blity and unsOundncss. -.
| Wr Bland dem. MOI sent to the clerks h"sk
| and had read for information an amendment ne
proposed to Offer TO the bill an abstract OF "hch
| was published In to-days Tribune
| MIR Ellis OF Kentucky who voted against the
biII i'm committee, said that he could not support
| The measure The passage OF the bill. In his
opinion. would be the greatest calamity Una, conid
| overtake the country. The same power was be
| hind this measure that urged the repeal OF the
| silver purchasing clause of the sherman ACT: lie
| referred TO the recent bond Issues ana asked tie
| supporters OF the bin what provision was made
| 10 siou such issues. No provision. he claimed,
| was made and II II should become n law we would
| have TO 40 on issuing bonds as heretofore. to re
| deem the obligations OF the Government. MI
| Ellis denounced AZ undcmocratic and extraordl-
nary the provisions In the bill proposing To regu-
late the issue OF notes by state banks. ana IN