Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1894-12-12
GONE GLTMMERING.
The Senate Refuses to take Up the
Anti-Sugar Trust Bill Einan-
cial Matters Still Being
Discussed.

Washington, Dec. 12.-On motion of
Breckinridge, Of Kentucky, the house
went into committee of. the whole for
the consideration of the urgency deficiency
appropriation bill. The bill carries
$2,OO6,595, but there we're only two dis
puted items, one Of $245,OOO for the col
lection of the income tax and $260,OO0
for the expenses of special examiners of
the pension Office. An attempt to secure
an agreement fixing limit for general
debate failed owing to the objections of
Mr.. Bartlett, of New York, who ledSthe
opposition to the income tax, and Mr..
Henderson, of Iowa, who led the opposi-
tion to an appropriation for special ex-
aminers of the pension Office.
IN THE SENATE.
There was but small attendance 10
the senate ts-day when it was called to
order.
On motion of Senator Allen, Of Nsbras-
ka, the senate passed an amendment to
the senate bill amending section 3 of the
act of March 8, 1889, Withdrawing certain
public lands from private entry. He ex-
planned that the bill was important at
this time on account of large number
of persons in the northwest driven from
their homes on account of drOuth.
NO SUGAR LEGISLATION Or oLoTuRE.
At 2 p. m. Senator Gray moved to take
up the sugar bill. This motion was lost
by vote of 23 to 81.
Senator Vest then moved to tako up
his cloture resolution, which was lost by
a vote of "a to 81.
HOUSE FINANCE COMMITTEE AT WORK.
A letter was received from Lyman j.
Gage, prominent banker Of Chicago, at
the opening Of the hearing of the house
committee on banking and currency to-
day. Gage said: ~ believe the Baltimore
plan carries the true principles of credit
currency, but years may intervene before
it can be realized. Meantime the way
currency business and to place the bur.
den of redemption on the banks is plain.
GAGE ADVOCATES MORE BONDS.
"Authorize an issue of $25O,OOO,O0O "a
per cent bonds payable at such time as
congress may elect twenty-five years is
desirable) to be offered subscribers at
par. Accept in payment for these bonds
United States legal tender notes or treas
ury notes, the same to be cancelled. Then
amend the national bank act so that
banks can obtain note issue to the face
value of bonds deposited as security for
the circulation. Reduce the tax on cir
culating notes to one half of per cent.
This done, the national bank notes would
MAKE GOOD THE VACUUM
caused by the retirement of the govern
ment notes. In fact, there would be
some expansion under it, to be followed
later by some contraction through the
forced redemption of bank issues, if it be
true, as some claim, that the volume of
circulating medium in the United States
is larger than can be maintained and the
outflow of gold is natures method Of
equalizing things. The problem is thus
to take the government out of the note
issuing business, first, without contract.
ing the currency in the process; second
without inviting expansion. Carlisle's
plan is in the danger involved under the
last suggestion"
ANOTHER PLAN SUGGESTED.
George G. Butler, of New Haven, Conn.
presented currency plan. Its feature,
include note issues up to 8 per cent of a
banks capital; the removal of the comp.
troller Of the currency to New York
where he is t. have control of the specie
reserve made up Of rs per cent of the
notes issued. Buffers plan also proposed
board of bank officers in New
York, presided over by the comptroller
of the currency; also that the government