Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1894-12-21
A SUBSTITUTE OFFERED.
k-sn
Important Changes suggested in the
Carlisle Pian-COngress AdjOurns
TO-mOrr0vv-Other News Notes.

TO-mOrrOw-Other News Notes.
Washington, Dec. 21.--The Carlisle
currency bill, now before the house of
representatives, will be withdrawn and a
substitute presented. This decision was
reached after caucus of the Democratic
members of the banking and currency
committee quietly held last night, fol
| lowed by conference between Secretary
Carlisle and Chairman Springer to-day.
The substitute
HAS ALREADY BEEN DRAWN
and will be offered by Mr.. Springer to-
day or tomorrow, certainly before the
holiday recess, as the desire of all con-
cerned is to get it before the country
prior to adjournment. Tt differs very
materially from the original Carlisle bill.
FEATURES OF THE SUBSTITUTE.
Two very important features appear
for the first time in the substitute. The
original Carlisle bill contemplated that
all national banks must reorganize under
the new plan. This would have required
them to surrender government bonds
which now constitute the basis of their
circulation. The substitute does away
with this imperative change. If the ma
tional banks wish to continue to hold
United States bonds and issue circulation
thereon, they may do 80. 1t is felt that
they will
SOON DISCOVER THE ADVANTAGES
of the new system and adopt 1t volun-
tarily.
Another important feature of the sub
stitute is that it does away with the un-
known liability of banks to guarantee
the notes of all other banks. This feature
of the original bill has been much criti-
cized. 1t contemplated that if national
of its assets and general safety fund.-"
made UP by all the banks. But If the
assets and safety fund we're insufficient to
pay the notes of the failed bank, then the
comptroller of currency was to
MAKE PRO RATA AssEssMENTs
on all the banks. The banks said that
this prospective assessment would have
In effect, it made them supply insurance
on all the notes of banks, in which they
had no concern.
The substitute will DO away with the
assessment plan. The safety fund will
be the limit of the joint liability of all
the banks for the failure of individual
banks. They will, however, be compelled
to keep up this safety fund by moro rigid
provisions sthan those embodied in the
original bill.
| LOCAL LEaIsLATIoN BLooKED.
At least twenty members of the house
crowded into the area in front of the
speakers rostrum to-day in the effort to
secure the passage, by unanimous con-
sent, of bills of local Importance, but
English, of New Jersey, who has inaugu-
rated a war of retaliation against unani-
nous consent legislation until pet
measure of his is passed, was on guard
and obdurate.
However, he allowed joint resolution
offered by Livingston, of Georgia, to go
through, providing for the
ENTRANCE OF FOREIGN EXHIBITS
to the Cotton States and International ex-
position at Atlanta next year. "This bill,
l understand, involves the admission of
contract labor" suggested Mr.. Wilson,
of Washington, humorously. "I want to
remind the gentleman that but short
time ago the country was in Juror over
the admission of single coachman.
Does this bill provide for the admission
of an English coachman?' "It does
not" replied Livingston amid laughter.
Mr. English also allowed a bill amending
the act creating the court of appeals of
the District of Columbia to pass.
Mr.. English finally
DEMANDED THE REGULAR ORDER.
A Joint resolution providing for holi-
| day recess from December % to January
was adopted.
The house, on Mr.. Springer's motion,
went into committee of the whole for
the further consideration of the currency
bill. Mr.. Pendleton, of West Virginia,
was recognized by the chairman, but be-
fore he could proceed johnson, of In
diana, arose for the purpose of
| PRoPoUNDING AN INQUIRY
to the chairman of the banking commit
tee.
"I understand" he said, "that at a
meeting of the Democratic members of
the banking committee last night it was
| decided to offer substitute to the pend
ing measure and that the consent of the
secretary of the treasury has been Sc
cured Is my information correct? If
80, ] suggest that the substitute be now
offered in order that we can proceed in
telligently."
SPRINGER REPLIES.
"Sometime during the afternoon re-
piled Springer, sit is my intention to in
troduce substitute for the pending bill"
Springer, however, denied that the
"consent" of the secretary of the treasury
had been asked for or obtained. The
Democratic members of the committee,
he said, were responsible for the subs IT,
tute.
GALL FOR REPORTS ISSUED.
The comptroller of the currency has
issued a call for reports on the condi-
tion of national banks at the close of
business on December 10.
Dynamite PlOtters to be Released.
Liverpool, Dec. 2l.-The Post says
that arrangements have been concluded
between the Redmondites and the govern
ment for the release of certain prisoners
confined for participation in dynamite