Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1894-12-15
CARLISE'S BILL.
The Banking and Currency Committee VIII
Report 1t to the House Monday Without
Change Yesterdays Hearings

WASHINGTON, d. O., December IL
The Democratic members Of the Bank
ing aud Currency Committee held an
executive meeting to-day and decided
so report the Carlisle bill without
amendment. All Democratic members
were present At the meeting to-day ana
Secretary Carlisle also attended.
The Democratic members do not agree
on the bill. Several have remarked
that il does not satisfy any one, but Is
compromise. All agreed that some
thing must be done with the currency
problem at once.
There was spirited incident before
the committee today. Representative
Walker, OF Massachusetts, said he IN
derstOOd a programme had been quietly
agreed on, by which the currency OIL
would be considered by the Democrats
OF the committee tonight, by the full
committee tomorrow night, aud pre-
sented TO the House Monday.
Mr.. Walker protested against undue
haste. ave have been turning over
this currency question for the last ten
months" said Mr.. Walker LAT the
end Of that time Secretary Carlisle
comes In with a bill which he tells Us
he dictated hnrriedly 70 his stenogra'
pher before coming 70 the committee
room. No man living could prepare q
measure affecting such vast interests In
less than a week. Yet this is the OIL
that Is 20 be reported ott-hand. Inls
haste is not becoming TO US as leglsIa-
tors. There should be full consldsra-
tion OF the question without limit OF
time"
Mr.. Walkers motion to reconsider
was voted down.
Mr.. johnson, Republican, Of Indiana,
added his protest he had agreed TO
the meeting tomorrow night because
he knew the majority had virtually
agreed on bill and were ready TO push
it through the committee, so that IL
was useless TO resist the haste.
Ex-Representative A. d. Warner, OF
Ohio. President OF the Bi-Metallic
League, addressed the committee. Mr..
Warner said the history OF the world
proved that the gold standard could not
be maintained by giving TO the banks
the power of expanding the circulation.
He was amazed that this proposition
should be made in this enlightened age,
in the face Of the financial experience
of the world.
Mr.. Enoch Plat, president OF the
Baltimore Clearing House, said with re-
gard TO the Baltimore plan that it en-
bodied his views. Speaking Of the fifth
section OF the Carlisle bill, providing
for a guarantee fund, be said 10 would
be safe II the strong banks could be
gotten into 10, which he considered
doubtful.
John R. Walsh, president Of the Chit
cago National Bank, stated his objec-
ton TO the Baltimore plan, the first OF
which was that itOdOes not provide ade-
ouats security for the notes; Sec
ond, because IL throws on the
treasury Of the United States the
burden Of redeemlng notes Of failed
banks; third, because the people would
never accept the notes of any bank not
properly secured. He adds that the
Baltimore plan is nothing but q revival
OF the old New York State safety fund
plan, q system which was abandoned
long before the organization OF any ma
tional banks. In his opinion the proper
waVb deal with the currency is for the
COY nment to issue an irredeemable Pa
ne cent boud which could be made the
basis OF circulation for national banks
No to the amount Of the capital.