The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1894-12-19

a. MONTANA, WEDNES D
"Thss y The solvent hanks veuiA b
hankrupeed 10 cid the insolvsutf~
"These would b no such result" ~
plied Speiaese. "If al the hanks sAcuid
fail under this systsm the note ho8dsrs
would b. securs."
ln answer to On inquiry by Slmpseu,
Springer said that - FAR % the retire
meot OF legal tenders was ooncssneds Tor
every dollar deposited In the Treasury hy
ths banks, y In circulating notes would
b issued.
Speinssr gave notice that at the pespsr
tune hs would otter sundry auasndments
looktng to the perfection Of the bill,
among them one permitting the depssit
Of currency certificates issued under the
oct Of 1s72 NA, 100000 Of which wsss eut.
standing.
Dinslsy charged Springer With moon.
sistency tn now supporting . bill which
contained . provision for the repeal OF
the 10 per cent. tax on the state banks, .
measure v hich be had earnestly opposed
lees than elk months ago.
Springer insisted that hs did oppose the
repeal Of the tax on state banks but wtsn
made part OF the general systsm Of
financial reform. hs considered Il safe, al.
though hs was frank to cay he would pes.
Ter simply national hank circulation.
Nj. Walker Of Massachusetts,. who vAs
In charge Of the opposition 10 the msss.
urs. then took the floor. He bsean whh
the statement Of the essence Of the Bal.
timors plan. Tho beginning and end Of
that plan. hs said, was to give to ths
national banks power TO withdraw the
United States bonds from the treasury
and Issue the circulating notes on thsir
asssts up 70 30 per cent. 1t afforded not .
shadow Of relief and did not dssssve Q
memsut's considsration. Again the bill
presented By the secretary Of the treasury
was IN amazing scheme. The bin had
not . feature that could BE- enacted On.
ospt after remodeling without sndanese.
ing the financial interests Of tho country.
He described the peril Of the present con-
dition Of things in the banking world, the
dangers that threatened. Yet the com.
mittee on banking and currency had
dawdled away its time until this undi.
eested scheme Of the secretary Of The
treasury had bsen thrown into the hopper
whom, after few hearings, Il had been
brought into the house without single
change. Mr.. Walker spoke OF his own
bill and its superiority over the Carlisls
bill He expressed the hope that the bill
would be passed IN place Of tho Carlisle
bill.
''That would bs done II you had the
courage Of your convictions" continued
he. addressing the democratic side, ssbut,
failing In that, hope you will rscommit
the Carlisle bill. - feel you surely viii
when you know ito character" A hank,
he said, could not b drained Of gold like
the federal treasury. The government
could not refuse. A hank and ito custom.
ers were mutually dependent. A banker
could pay optionally In gold and silver
under his bill; but the laws Of trade, the
necessitiss Of the case, and the necessity
Of psoteoting the currency would dstsss
mins. The laws Of congress could b Do.
ilsd. the laws Of trade never.
While describing the manner In which
bis bill would redeem and retire legal ton.
den. Tracey interrupted him to ask IL biz
bill would retire the Sherman notes.
''Yes, sir" replied Mr. Walker.
Walkers elaboration Of the terms OF bis
bill attracted the closest attention aud the
members crowded about him, taxing him
with numerous questions, which hs dexter.
ously met and paFrisd. His bill, hs do.
clarsd, would bring the country hack to
the old democratic doctrines Of Jackson
and Bentou. Tha hanks vrhich N n ~,s.