The times. [volume] (Richmond, Va.) 1890-1903, 1894-06-06
RICHMOND VA. WEDNESDAY, JUNE q 1894


he be given an hour. and that some gen
tleman on the other side be accorded the
same privilege. Objection was made. how
ever. and Mr. Hartor declined to pro-
coed. saying he had no ambition to rise
simply to have his remarks extended in
the Record.
Mr. Lane Dem. I'D said he was a
hard-money man. believing all except gold
and silver was make-belieye money only.
He desired TO bear witness however to
United States was the best in the world.
II was a fallacy TO assert that the money
was issued by the banks and that It was
issued by the Government through the
banks. MIR. Lane said man who happen
ed to have a State Of county bond had
no more right TO issue notes upon that
security than he had to issue them upon
the security Of 400 acres OF good farm
land.
bill was obnoxious; II was class legisla-
tion OF the worst sort. IL the tax was a
good thing when passed IL should be en-
forced until the law had been repealed.
The arrangement sought to be made
The last two hours, from to o'clock.
was divided between the two sides-Mr.
Harter 10 occupy an hour in favor of
the repeal Of the State bank tax, and
MIR Dlngley U2ep. Me) TO control an
hour i'm OPPOSITION e the report.
Mr. Campbell Dem, n. " had read n
letter from Conrad n Jordan. ex-United
states Treasurer and president OF the
Western National Bank OF New YORK,
favoring the repeal OF the tax law.
N AsTE-wAE TINES.
Mr.. Gear Rep.. Iowa. gave a leaf or
two from his personal experience with
the issues of State banks in ante-war
times as reasons why, I'm his opinion. the
people Of the country would not return
willingly to that system of currency.
Mr. Harter said the trouble Of the
country was not that II suffered from
an insufficient volume Of currency. but
from the quality OF the currency, its IN
fiexibiiity and inability to perform prompt
~ the purpose OF money at the places
where It was needed. A new system was
essential to renewed and continued pros
perity Of the country and his belief was
that If a proper system of state banks
was established by the end Of the century
the country would do its business upon a
volume of currency Of less per capita
than the volume OF currency to-day
Speaking of the work accomplished by
the State banks in the past. Air. Harter
said the Government never had such a
friend nor such an efficient ally as the
State banks Of 1860. They were stronger
than the Government, maintaining gold
payments long after the latter had sus-
The national banking system. Mr.. Har-
ter said was based uDOn the State banks,
but unfortunately for the country since
the best features Of the State banks had
not been taken in establishing national
banks.
In concluding. Mr.. Harter pleaded with
the Republicans 70 vote for the tax law
asserting that with the accomplishment
Of that purpose would disappear the
greenback craze and the free silver craze
Alr. Bland Not a bit Of 1t.
Mr.. Harter: | want 10 say that no man
on the floor Of the House gives up so
much In voting for this bill as does the
gentleman from Missouri A candidate
for the Presidency Cheers and apDlause),
The moment ne votes for this bin his
platform disappears from beneath his
feet never more TO appear. daughter and
apDlause)
AIr. Newlands pop. Nev.) said the DIS
ease which was sought 70 be remedied
by the proposed legislation was n world
wide disease. due 10 falling prices. due
10 the appreciation OF gold. He criti-
cised the bill because Il was incompetent
10 do that which was expected Of II. In
stead Of reducing the demands upOn gold.
in which all currency now In circulation
is redeemahle. this bill proposed 10 in
crease the demands upon the stock o
gold by increasing the credits Of banks.
redeemable In gold. The trouble. or on
trouble. he said. had been the straii
upon banks in time OF stringency. AM
vet this bill proposed 10 add 10 that
stringencv. The only remedy open 10 tn
nations is the restoration Of silver a
rn0nav. (ADnlauee
Mr.. williams NUsq) and Mr.. Wheeler
(ila) smoke briefly. and. at 5:S0, tn
House adjourned.