The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-05-27
REPEAL OF THE BANK TAX
The Fight Over the BTaWlCy Bill Be-
gun In the House.

Nearly Two Hours In Advocacy of
the Bill.
Washington, May 26.-The fight ovor
the repeal of the 10 per cent tax on the
circulating notes of state banks began in
the House this afternoon. The bill under
discussion was that of MIR Brawley to
relieve the clearing house certificates
issued during the panic last year from
the operations of the 10 per cent tax
law. This measure was reported favor
ably from the banking and currency COM
| mittee, with an understanding that an
amendment providing for the repeal of
the 10 per cent tax on state bank notes
would be offered in the House
This course was adopted because of
the inability of the committee
to agree upon any measure looking to re-
peal of the 10 per cent. tax. This, of
! course, opened up the discussion of the
whole subject The debate was begun by
Mr.. Springer chairman of the banking
and currency committee. He spoke at
length making an elaborate argument
against repeal and against the issuance Of
circulating notes by state banks. He was
followed by Mr. Grow, ex-speaker, also in
opposition to repeal.
LAWSON FAvoRs REPEAL.
The first speech in favor of repeal, and
the last Of to-day's debate. was made by
MIR. Lawson. He held the floor
an hour and fifty minutes His argu-
ment covered every phase of the
/ question, and was listened TO with the
utmost attention. At its close he was
congratulated not only by the friends of
repeal, but by a number opposed to it.
His speech was commended as covering
the entire ground, and being in every
way as strong an argument as could be
made in favor of repeal, and in favor of
! permitting state banks to issue notes for
! general circulation. One point made by
! him was especially appreciated by every
one except Mr. Springer. It twas when he
stated that Daniel Webster had approved
the state banking system, and that he
| Uawson) would set Mr.. Webster against
Mr. Springer. This caused a ripple of
| laughter to run over the house, in which
even Mr.. Springer himself was con-
strained to join. The idea of setting up
the great "expounder Of the constitution
against the sage of the Sangamon" was
one calculated to rouse the risibilities of
| the most apathetic.
The prospects are favorable for the pas
sage of the repeal bill through the House
within a few days, but 1t is doubtful if it
| can be passed through the Senate at this
session, owing to the unlimited debate
permitted in that body
DETAILS OF THE DEBATE.
BY the Southern Associated Press
Washington, May 26.-After disposing
of few unimportant local bills in the
the House to-day, a House resolution was
passed requesting the Postmaster Gen
eral to inform the House of the number of
clerks removed from the railway mail
service between March 4 and May /,
1889, and also asking for other informa-
tion about removals. appointments, etc,
in the service during the period named.
! Then, on motion of MIR Springer, of
Illinois, the House resolved itself into
committee of the whole on the state bank
tax repeal bill, and Mr.. Springer ad-
dressed the House in a prepared speech
against state banks, denying their rights
to issue paper currency. Regarding. the
question of currency as only second In
| Importance to the tariff at this time, he
. IcGT6Gbcu LIldb buGIG was 10 uAcu anu
sound policy in reference to it which
would render periods Of hnancia
depression remote, if not impossible,
| and proceeded with his subject, announc-
ing that he would renounce all party con-
| siderations upon the ques tion of the
currency, but would unite with
any men of any and all parties
in the preparation and passage
Of a measure which would provide n cur
I that tvonlH bn alyVaFfQ safe and
stable and sufficient TO meet all the re-
quirements Of trade and commerce.
SURE TO BEGET CONFUSION.
"Under no circumstances should we re-
| turn to the system of state bank circula-
ton which prevailed before the war"
said Mr. Springer III there were no
other reason for opposing a circulating
medium issued by state banks. the argu-
ment of Inconvenience ought TO be sum
cient There are now forty-four states in
the union, and four more undoubtedly
will be admitted in the near fu-
ture. Each Of these states would
the organization of banks, and providing
security for the circulating notes. There
are over nine thousand banks in the
United States at this time. Assuming
that all of the states would avail them
selves ultimately Of the right to incor-
DOra te state banks having authority 10
issue circulating notes, and that all ex-
isting banks would avail themselves Of
such authority, the different kinds Of
\ notes which would be put in circulation
and their number would be confusing and
embarrassing in the extreme 70 all those
engaged in active business"
PATERNALIsM THAT HE FAvoRs.
After denying that state bank has any
more right to issue paper currency than
il has 10 coin silver and gold into eagles
and dollars, Mr.. Springer said that he
favored that paternalism in all things
which the constitution Of the United
States has established, the paternalism
which gives congress the power to lay
| and collect taxes, duties and imports, TO
| provide for the common defense and geh-
eral welfare of the United States,
| to regulate commerce with for
eign nations and among the several
states, to establish a uniform rule Of
naturalization, TO establish postofices and
post roads, to promote the progress Of
science and the useful arts by granting
patents 10 inventors and copyrights TO
authors; to raise and support armies ana
provide and maintain a navy; to coin
money aud regulate the value thereof
and Of foreign coin and TO fix the stan
dard of weights and measures.
ESSENTIAL 10 THE GovERNMENT's PREsER-
WALTON.
"AIl these powers smack Of paterna--
! ism, but they are essential 10 the mainte-