The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1894-12-18
Currency Reform Bill to be
Passed on January z.
The House Committee on Rules
so Decides.
A SHARP PROTEST.
The Minority Says it Would
Cause Another Panic.

WASHINGTON Dec. 1s.-Spealzer
Crisp and his associates on the hOu Sc
committee on rules determined yes
terdav on special rule by which
Senator Carlisle's bill for currency
reform will be debated and voted on
in the house Of representa- ives. The
original purpose Of securing a vote
before the holidays was given up.
Instead of that it was arranged that
the general debate should begin to-
day and continue 10 the recess. When
congress reassembIes on January 8,
the currency debate will be resumed.
the 4th and 5th being given to de-
bate under the five minute rule. The
vote will probably be taken on Mon
day. January :.
The minority members of the bank
ing and currency com mittee severely
criticize the Carlisle bill They say
1.-The whole action of the party ma
iOritv of the committee was most ex-
traOrdinary and not approved by its
voting majority. Secre tarv Carlisle
read part of the bill on the first day
of his address to the committee. say
ing he had not finished debating it,
and would bring it in when he fin
lshed his address to the com mittee
on the following day, which he did.
1t was not again read or in any man
ner considered IN committee, and
an opportunity to consider or
amend it was refused to all mem bers
Democrats and Republicans alike. On
Saturday at p. m. Immediately
upon the close of the examination of
Mr. St. John of New York, a notion
was made to close the hearing and
go into executive session. L pom the
attempt of a member of the m noritv
to make a motion to take up the bill
for cOnsidera ton they were informed
by the chairman. Mr.. Springer, that
the Democratic party majority had
c included not to submit the bill to
ever, but to report 1t to the
house on Monday, and that each mem
Der could offer what anne ndments he
chose in the house. 1t is the opinion
of mum Der of the most clear headed
and eminent fnanciers in the country
that if the Carlisle bill was enacted
in to a law within twenty days that it
would precipitate a panic far more
severe than that. of 1898, as it would
compel the forced sale upon the mar
l0et Of nearly 5000, 600, 900 Of United
States bonds within six months
1.-The passage Of the Carlisle bill
may meet some political exigency of
which do not know, but we do
know its passage will aggravate
rather than relieve the perplexities
OF the financial situation, especially
that of the United States treasury.
1.-The United States legal tender
notes Withdrawn from circulation IN
case all existing national banks take
out all the circulation permitted
under the bill would only be $751;
900 900, still leaving $3.50 900 to vex
the treasury. This would not afford
any substantial relief to the constant
drain Of gold from the treasury. 1t
would make still more conspicuous
and thus more urgent the demand for
gold upon the treasury. and the notes
issued under the bill would make con-
fusion worse COMPOUNDED in the cur
rencv, bv adding from one to forty
five more kinds of money to these
already existing
Twice within short time has the
house declared its unalterab bic OPP
position to allowing state banks to
S92, BY a vote of "a for to us against
against state banks of the gallant and
versatile gentle man from Illinois, the
Hon. William NJ. Springer, on j une 6,
1894, Ov a vote to repeal the ten per
cent tax of 102 for to 172 against.
Therefore. we protest against again
consuming the time of the house in
prOfitless discussion of that objection
a Bile section of the Carlisle bill FL
nally we are of the opinion it is not
safe for the house to enter upon the
line of the legislation proposed until
some bill Is brought before it that
has received far more attention than
the Carlisle bill. and we recommend /
it to be indefinitely postponed"
The report is signed by the six Re {
pu blican members of the committee.
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