The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-12-31
NEW CURRENCY PLAN
SUBSTITUTES FOR THE CARLISLE
SCHEME WILL BE NUMEROUS.
Springer Realizes the Hopelessness OF
Any Free State Bank Biii-Post-
age Stamp Commercials.
spec,al 70 the Indianapolis journal.

Special to the Indianapolis Journal.
WASHINGTON, Dec. 30.-There can be no
doubt that the currency problem is the
absorbing question of the hour. Scarcely
day passes but the announcement is made
of new currency plan. Almost every
Democratic member of the banking and cur
rency committee is at work on a bill TO be
offered as a substitute for the Carlisle bills
and it is a healthy indication that every
new proposition follows more or less closely
the plan recommended by Representative
Culberson, viz, the issue of a low-rate
bond with which outstanding legal tenders
are to be gradually retired and induce
ments offered to the national banks to take
out more circulation both by permitting
them to issue currency to the full par value
of the bonds deposited and the abolition
of the present tax of one per cent. on
circulation. Chairman Springer himself is
beginning to realize the hopelessnes of pass
ing any bill with a free State bank at
tachment and is limiting at the possibility
of abandoning that feature of his bill. The
Culberson plan is essentially the character
of the legislation for which the Republican
members of the banking and currency COM
nittee have stood out. Their attitude has
always been a government guarantee for
every note and no State banks. These con-
ditions are fulfilled in all bills drawn OH
the lines of Judge Culberson's suggestions.
AS indicating how generally his views are
being adopted it may be stated that Messrs.
Sperry, OF Connecticut, who represents the
Eastern Democracy, and Cobb, of Missouri.
who represents the Western Democracy
on the committee, are both at work on bills
modelled on the Culberson plan. BourKe
COckran 100, Is said to be at WORK on a
bill OF similar character.
Botn houses or CONGRESS VIII resume
expected that there will be more deter
mined effort to press forward the WORK of
the SESSION for the next two months than
has characterized the proceedings during
the month which has already elapsed. The
necessary work of the SESSION is the pas
there are fourteen. OF these, none have
passed the Senate. and only five have re-
ceived the sanction of the House. OF these
five. the Senate committee on appropr.a-
lions has passed favora bly, the PEN
SONS and Military Academy bills. while
the army, Notifications and urgent de-
by the committee. -
1t is in order for the Senate to take I'D
any reported appropriation bill at any
which stands On the Senate calendar as
unfinished business, shall continue to hold
present upon whether the appropria lions
committee shall desire to supplant it with
the pensions or Notifications bill, with
err bills shall be reported from the COM
mittee. There is, however, no urgency con-
corning either of the approximation bills so
that the Nicaragua bill will not be dis
placed for the present, The Nicaragua
canal discussion will, barring the posi-
bility Of displacement and adjournment
over until the following Monday be re-
sumed after the morning hour on Thurs
day, with Senator Morgan occupying the
floor.
Mr.. Morgan has been devoting the holi-
days to the preparation Of reply to SEN
ator Turpie's attack the canal BILL and
his friends expect him to make a vigorous
and exhaustive defense of the measure
and of the enterprise whose interests it is
intended to promote. He will probably
speak an entire day and possibly two or
three days. There may be effort TO
have the Senate adjourn from Thursday
over till Monday In case there should not
i be a quorum when the Senate re-convenes,
but those best acquainted with Senate
methods predict that ii will sit for at
least two days of the present week.