The Washington times., 1894-12-20

considered advisable to let the present de-
bate run along without any rule as it is pro-
ceeding satisfactorily thus far. 1t may be de-
Yeloped that no rule is necessary to close the
debate. In any event there was no rule yes
terday nor will there be one to-day and the
debate will go over until after the holidays.
1t will then be resumed under the five-minute
rule. with the desire TO have a vote on Tues
day, January s. In case there is opposition to
the vote at that time rule will be brought in,
as there is no purpose to let the debate run
beyond that time.
As soon as the regular routine had been
dispose OF the House went into Committee
of the Whole and
DEBATE WAS RESUMED.
Mr.. Johnson, or Indiana. one OF the mi
nority members ofthe Banking and Currency
Committee, opened the debate with vigor-
bur speech in opposition to the Carlisle bill.
Admitting the defects in our currency system.
he said their correction could not be obtained
by the passage OF a bill along the lines sug-
sested by the Banking and Currency Com
mittee. II was much easier 10 attack the
present system than offer a safe substitute for
it. The present system had given the country
a greenback currency which enabled the gov
ernment to carry on the war, and it procured
market for our bonds in the hour of danger
and peril.
The currency it produced had never been
questioned. While remedial legislation might
be advisable this WAS no time for expert
mental legislation. There was no need of in
decent speed. Congress in this matter could
well afford to make haste slowly.
Mr.. Warner, of New York, spoke in support
Of the bill.
Mr.. Ellis of Kentucky who followed Mr.
Warner was the first Democratic member of
the Banking and Currency Committee TO at
tack the Carlisle bill. At the outset he pro-
claimed that he was convinced that its pas
sage Woald remedy none of the defects of
the
PRESENT FINANCIAL SYSTEM.
In the committee two conflicting theories
had struggled for supremacy. One urged by
the officials of the government who desired
protection from the assaults of the gold specu-
lators and the other urged by the bankers
1 who sought TO extend their privileges and in
crease their power and profits. The people
| had nothing to hope from such schemes He
charged that behind the bill were the same
! influences that forced the repeal of the Sher-
man act and who on that occasion had pre-
dicted that prosperity would follow the re-
/ peal.
/ The repeal of the Sherman law having now
admittedly failed. this currency scheme, he
said, had been insidiously pressed forward by
/ the same high authority. For thirty years the
Democratic party had condemned the national
] bank system, yet it was now proposed not
/ only 10 perpetuate the system, but to perpet-
uate it in form more Objectionable than that
| in which il at present existed.
MIR. Ellis. in conclusion charged the Demo-
cratic party in Congress with being false to
its Chicago platform pledges in not passing
J tariff bill for revenue only, in not repeating
outright the 10 per cent tax on State banks,
and in not restoring silver 10 Its position as
money metal on the same terms with gold
Democratic promises" said he, Twill not
be redeemed until the people elect a Demo-
cratic President. When that day comes, as
believe it will, the Chief Executive will not
be chosen from that small and select class
who believe that all the financial integrity
and capacity in this country is
oUARANTINED or MANHATTAN ISLAND"
An unexpectedly strong opposition to the
bill now before the House is disclosed by the
list of those who have asked for time to speak
on the measure. Two lists have been made,
one for members of the Banking Committee
who wish to be heard and the other for men,
bers not on the committee. The committe.