The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1894-12-15
DISCUSSED IN THE HOUSE.
Mr.. Grow Argues Against the rresid cnts
Banking Scheme.

Mr.. Grow Argues Against tn. rresi,I cnt's
Banking scheme.
WASHINGTON. Dec. 5. AT the open
ing of the session Of the house, yes
terday committee ON banking and
currency was given leave to sit dur
ing the session. The house then
went into committee of the whole
to consider the Presidents mes
sage, and Mr.. Wilson of West Virginia
moved that the committee of the
whole be discharged from the consider
alton of the message and that it's vari-
Gus parts be referred to the standing
committees having jurisdiction. Mr..
Grow of Pennsylvania. made an adj
dress on the banking scheme promul-
gated in the Presidents mes
sage. lie believed the present law
should remain exactly as it is
except that the banks should DC al
lowed to deposit money as well as
bonds for circulation and take out $40
on every 500 in money deposited. and
circulation up TO the par value of the
bonds. State banks. he believed.
should have the same rights of
issue, with the same liability To
the government. together with per-
sonal liability of the stockholders.
The motion of Mr.. Wilson was then
agreed to- Mr.. McI,ae. from the com
mittce on public lands, called mp the
bill To protect forest reservation. Mr.
Wells of Wisconsin opposed the bin in
every feature. He declared that I'M
association of timber thieves and land
sharks was behind the meas
urc. The pine land thieves of
Michigan and Wisconsin, he lsaid,
had grown rich on their plumber, aud
had then bought seats both in this
house and the other. Mr.. McRac in
dignantly denied that there was any
land ring or association behind this
bill. After some further debate the
morning hour expired. and the house
proceeded with the discussion of the
railroad pooling bill.
The opening speech for the bill was
made by Franklin Bartlett of New
Yosl. one of the democratic majority
of .hc committee.
One of the strong arguments against
the bill was made by William j. Bryan
of Nebraska, who expressed the opn-
ion that IL was not the business of
congress to legislatc for the protection
OF the railroads. lie cited the fact
that under the antitrust law it was "a
criminal offensc for groccrs and butch
crs to combine to raise prices and the
same thing should be true of the rail
roads
The argument Representative Ores
ham of Texas utilized to interrupt Mr..
Bryan was the point, which is insisted
on by the other members of the COM
mittee, to the effect that as the rail
roads are now making combinations
secretly and defying the law the pro-
hibition ofpooling should be abolished.
lie was answered by Mr. Bryan. who
declared the remedy was to make the
existing law better and not to take
away the measure Of protection which
the people have now.
Representative Northway of Ohio
showed that when congress i'm ISIS,
prohibited the making of pooling con-
tracts IL was not taking up new ques-
ton, for pools were then i'm existence
and had been run in such manner as
to take the industries of the country
by the throat. lie was very much
against the repeal of the bill.
Bourke Cochran followed for few
minutes to reinforce the arguments of
his fellow Tammanyitc, Mr.. Bartlett.