Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1894-12-18
MR. CARLISLE'S BILL.
His Financial Scheme Reported 10
the House
AND is SEVERELY CRITICISED.
The Republican Members OF the Com.
miiiee on Baking Have
Their Say.

opening Of the sesBlon Of the House,
Hermann (Rsp.) Of Oregon presented
n preamble and resolution declaring
that the Clayton. Bulwer treaty was
an obstacle TO the construction Of an
inter.Oceanio canal aud that II should
be abrogsted. IL was referred to the
committee ON foreign affairs.
Fifteen OF tho sixteen bills favor.
ably reported from the Friday night
session were then passed, without OBJ.
lection, In exactly four minutes.
McRse, chairman Of tho committee
on public lands, moved 10 pass, under
n suspension Of the rulop, the bill TO
protect public forest reservations.
Passed.
Springer OF Illinolg, chairman Of
the COMMITTEES ON banking aud CUT.
fencyi then presonted tho report Of the
majority on the Carlisle banking BIZ
ana u was ordered printed, together
with tue minority report TO 10 pre-
scented by Walker (Rep) Of Massa.
chusetts.
The minority members Of the bank
Ing ana currency committee severely
CfiticiHe the Carlisle bill. They say!
The whole action Of the party major
lty Of the committee was most extra.
ordinary and not approved by it,
voting majority. Secretary Carlisle
read part OF the bill on the flrst day
Of his address 10 tho committee, saying
ho had not finished defeating II and
would bring II when he finished his
address 10 tho committee on the follow.
INK day, which he did. 10 was not
again read or In any manner considered
In committee, aud mn opportunity to
consider or amend IL was refused TO oil
membefe, Democrats and Republicans
alike.
On Saturday at PM, INN ediately
upon this close OF tho examination OF
Mr.. ~. JOhu OF New York, IA motion
was mado TO close the hearing and 40
into executive session. UpOn tho at
tempt OF "A member " tho minority 10
make motion TO take up the bill Tor
consideration, they were informed by
the chairman, MT. Springer, that the
Democratic party majority had con
cluded not 10 send the bill 20 the
COMMITTEES for any motion whatever,
but 10 report II 10 the House on Mon
day, and that each member could offer
what amendments ho chose In the
House.
II Ia the opinion Of n number OF the
most clenf-headod anu eminent imam
cieu In the country that n the Carlisle
bill WAS enacted into law, within
twenty days II would pfeclpilnte
panic far more severe than TINT OF 1893,
rs II would compel the forced sale upon
the market OF nearly S2O0,O00, 900 Of
United States bonds Within six
months.
Section repeats call acts aui parts
OF acts which require or authorizes the
deposit OF United States bonds 10 30
cure circulating notes." etc, instead Of
$50 much " all acts and parts VI acts"
etc.
How many Thousands may DO Berl.
outly injured by such needless whole.
hnle repeal Of the statutes, or whether
the Supreme Court after years Of iii.
CATION might by construction Te-euacl
some parts OF such statutes which Buc.
Rotary Carlisle had repealed, no one eau
tell.
Section provides that "eaeh asaocis.
tlon hereafter organized and each Au-
ISOLATION applying for additional cirou.
lNtlOn shall pay It's pro rata share Into
the said fund before receiving nOteR,n
without defining how the total fund or
each share shall DO ascurlained. In
the same paragraph Il IL provided that
"Whon n national banking association
becomes in6ulvont its guaranty fund
held on deposit shall be tTansierrod to
the safety fund herein provided for anu
applied TO the redemption Of Its out
standing notes."
That Ia 10 say, It Is merged In the
safety fund, anu again, thore la no pro.
vision In tho bill for the use OF tue
bafety fund except by application In the
lines quoted.
Whatever legislation IL had with
reference TO tbs finances Of the country
or banking In ito effect upon national
banks should be permieslye and not
mandatory as 10 national banks while
their present charters continue.
The pRteage OF tho Carlisle bill may
meet somu political eKigenoy Of when
We do not know, but We do know itH
passage will aggravato rather than TO.
lievo tho peTploxiIiea OF tho financial
situation, especially that OF the United
States treasury. Tho United States
legal tender notes Withdrawn from cir.
culation In all the existing national
banks, taking out oil tho circulation
permitted under tho bill, would onlyb e
$751; 900 900, still leaving g3ji,OO0,OU0
20 vbX the treasury, This would not
afford any substantial relief TO tho
treasury. II would mako still more
conspl6uOus nnd thus more urgent tbs
demand for gold upon tho treasury,an
the nOtoa isaued under the bill would
make confusion worse cOnfounded In
the CURRENCY by adding from one to
fOTty.fvs more kinds OF money to
those already existing.
We arc OF the opinion II IL not safe
for the House to enter upon tho line OF
legislation proposed until sOmo Till is
brought before Il that has received far
more attention than tho Carlisle bill,
and We recommend II DO indefinitely
postponed.
The report is signed by the ak Re-
publican members OF the committee.
Cultivate, chairman OF the military
affairs committee, called up the army
appropriation bill aud explained lie
provisions. The bill carried s23, 200, SOB
.-Sl8s, go less than tho appropriation
for the current fiscal year and 1905.
b8i lois than the estimates,
The bill was passed without amend
ment.
Springer, IN accordance with the
notice given early In the day, at this
point announced that he would tomor-
row, Immediately after this call Of com.
mlttees for reports, call up tho banking
bill, either by virtue Of a Especial order
for its p1ivllego or by unanimous con-
Ats block the House adjourned.