New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-12-16
TO REPORT CARLISLE'S BILL
Continued from First Page.

~L.nas NAV nerhans be able TO explain IL any
opportunity is afforded for the discuss'o" vi ''e
measure in the House. That he does not expect
.,ch relief from the bill In the near future Is ap-
narent unless his opinion has undergone chahse
since Monday when he testified that IL misn' 'ane
twenty wears to redeem the greenbacks under MS
scheme or that II might be done IN h'e or siA
wears proyded the surplus revenues were su'Ne'o"'
for that purpose OF course. II the surplus i.'
anues we're sufficient to retire the greenbacks the
rreasurv would not be compelled to issue bonds as
II has been doing in order to gel MONEY ~ 20,
crrrsnt EXPENSES The Secretary OF the treasury
is thoroughly panic-stricken. and ne hp'o'es -
eress to do something immediately ne
one of the Jerseyman who was out VIII" a 'o'''
pan,on In a small boat when a heavy sqnan oan,e
and the boat seemed about TO be capsizea vi sum
"Iohn" said the Jerseyman 10 his coInpaioi''
"John you pray
NO. Jm I'm afraid l can't pray
well can you sing hymn!
mo James | don't believe l can.
lust tner big wave struck the fran c'ai' "'u
alled II half full of water. John dropped MS oar
and exclaimed: Then swear, Jim, swear! hi'o"
Won car, do that ard something's got 10 DC uo"e
right away. 49, IL, oo-
secretary Carlisle is about ready to drop MS oar
He retired from the room as soon as the co'''''''
tee was called to order
ONE APPROVAL AT LAST
Chairman Springer was so anxious 10 se' INV Wv
record certain letter that he proceeoeu u i -
before the clerk had called the roll. 1t was lIoi"
49, ,ras,aept Of q National bank at York. Neo'
approving the ADMINISTRATORS scheme 90 ne
ra man a, least in the United States besides iies'-
dan, cleveland and Secretary Carlisie "io app .
the scheme But the reading OF the iet'ei anu ~
IN INCORPORATE it in the printed reco'o sa'e
@rouble 10 Chairman Springer Mr.. Johhso' " ~
diana asked whether the chairman hau RECEIVE
letters ON the same subject which he had not SUNNI
that he had but that he had submitted a" ie'.e''
racelved in response TO invitations TO appear oei
the committee He had departed from '"e - -
this case because this was the ohi! eNP'es ,
oninion that had been received from Neo'asha' "
motive Of his anxiety TO make an exception 10 inc
rule IN order that the voice from Nebraska n's" Do
ha,ra was disclosed by his hesitation wheh MI
Ib,son asked If that was the only letter ne mao re-
caived from a National banker IN FAVOR Vi '
nending scheme, and he replied Win so'i'e 0N'
and heightened color that IL was the ON! o"'
,horo seemed TO be objection TO having 1t included
IN the printed record. however he would "''no."M
II. and he did So This smart eXpeoleh' '"e' e''''
failed.
,r,,r, c,,u>,,C,I. RANKS PRESIDENT HEARD.
ru.o >av.york National bank presidents oceu-
ia ,,a ,ip,e Of the committee during the puohc
Lett. and among the interested auditors were
Senator Teller and Messrs. Bryan, CatChi'hS anu ="
number of other members of the house
Wriams of the Chemical National BANK oi ->e"
W. road a brief statement of his views IN re-
card TO the currency legislation ne deeh'eu Ne0''
s,ry 1.-The situation Is one requiring hini'eaS "'I
,,,o, sense said he. 1.-The first problem IN our
c,,,msv and congomerated financial system j. '"e
d,snosition 10 be made CT our leea-'enue.
He strongly urged that the greenodchs siiouiu -
1900 cav s5o 900 90 at a time. in per cent bonds
until ALL of them were redeemed anu Gan"
National banks should be allowed 70 uepoS'I w
- "a security for circulation and receive ho'eS
a,,ra, in value TO the par value OF the po'u' "
oos,ed The United States should also na'e "
lion on ALI the assets OF the banhs' anu ""
,sn. agency for the redemption OF the notes S"ou1
ne established in New-York Ciy 10 eApeu''e ~,
nrocsss Of redemption and make II cheaper ne
pio0e ,ar con, bond would be better than one
TO- a lower rate OF interest, because u'ei
,,d ha no danger of its falling below par IN 'iie
market The SIS 10000 of per cent pohus nv"
.,andnr-about s21 10000 Of which are OH uep'''
n secure National bank circulauoh-are "o'''
,,.,,. beow par in the market. MI "iiiams aiS'
~ ,. ,ha, I, would be wise redeem the silver
,,eca,es IN bullion al its market value anu ne
,ugeested that the same course might De a,-op
for IN. redemption and cancellation OF 'ne "
o,as ~ 10, With the changes suggested ne
would regard the currency anu ''"A" a 1000
a. nearly perfect as it could be made ana ne auus'
a. "' -. hanrno,e currency would then be sum
silently elastic.
Ia
NJ, williams said That the Baltimore plan. IN MS
-, ,,o,,a furnish ample security for the
ho,dcrs Of National banks as strong ana a.
.elI and prudently managed as those OF pai'''o :
ant he had grave doubts as 10 whether ~ w."
no sufbcient in the Of all the National oahA'
throughout the country large ana small sever
,horssnd in number with the number liable TO o'
,s.rahIe increased by the organization Of ne"
h.rks MANY of them of mushroom charac'ei
'.h,ch would be tempted 10 engage In business W
The ease with which circulating notes couu ~
attained For the same reasons ne stro"ss W
oosed Section OF the pending BILL when contain
The nrovision making all National banks )ointi'
liable for the notes Of failed banks ne sdiu '
49, s,roc,ors NJ no strong conservative. and well
managed National bank could or would vote 10 as
uuu,e such liability account OF banks Ill "'os'
MANAGEMENT they had no voice OF co"'io. an" -
tegard 10 whose resources and Iiapiiites 'hey pos
.esssd no knowledge 1t will be observed tina
State banks have no place in President Williams
plan. He declared that 1t would be impossible u
make the circulation OF such banks safe under th'
provisions Of the Carlisle bill The idea OF JON
National ard State control over me az, hilaiS u
bank he regarded as utterly mpracucaDle. -.
incidentally Mr.; Williams gave statement cV or
,ernng MS S. wns d raise their
m surprise. Its capital is 10000 Its surplus 60
Seposs' $50 ococo: It's dividends 80 per CEN
per annum. and its stock was selling AT sfSoV pei
share OF 500.
MR. ST. JOHN FOR BIMETALLISM
w. y. st. John president OF the Mercantile Banf
n New-York followed Mr.. Williams. He started OF
with a statement that indicated the tenor OF h
subsequent remarks. Under official dctation. III
said tutored by the most aggressive OF all the mana
full of "godites' In the United States. congress
addles with bank notes while the burning issue Il
primary money. Redundant bank notes had in
variabiy banished gold and silver The aggregate
pf money determines prices and to enlarge IN
aggregate of money in the United States was Z
raise normal prices for home and International
consumed commodities here. Mr.. ST. John spok
n favor Of silver and urged bimetallism by concer
~ laws But" ne said, 'if any attempt to achev
bimetal sm independently is to yield silver as on
sniy money my conviction IL the conviction OF Rob
srt Morris namely that silver is preferable TO gol
il either is to be the only current money Of IN
United States The present Secretary OF the reds
nrv OF the United States and his associates OF IN
A.-..n iaiol a Ell-al