Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-12-04
THE FINANCE BILL
There is a Wide Difference Of Opinion
in Regard to It.
RADICAL SILVER MEN AGAINST IT
Senator Chandler Rather Favors the
Proposition.
A sou TIL E N VIE W

Secretary Carlisle's plan for the extern
sion of the currency and change of the cur
rency system has excited considerable in
terest and provoked animated discussion
with a wide range of difference In opinion.
II IL were regarded as possible that this or
any other legislation on the general ques-
ton could be had at this session of Con-
gress the presentation of this proposition
would be the signal for a hot contest.
However the point Is taken out of this, as
out of every proposition suggested In
the Presidents message to Congress, by
the fact that there is no prospect of legis-
lation following either on the lines laid
down In the message or on the questions
there treated. For the most part members
OF the House and Senate are somewhat
confused by the Carlisle proposition. though
few of them have analysed 1t suff1ciently
to offer an opinion as to its real merits.
Radical Silver Men Oppose 1t.
The radical silver men require little more
than a casual reading of the proposition to
dx them in earnest antagonism, but there
is an indication that Mr.. Carlisle was not
entirely mistaken in his conclusion that the
southern men who favored initiation might
be divided. However they may feel on the
plan when they come to analyze 1t more
carefully. 1t Is evident that a good many OF
them are rather favorably impressed by Ii.
and in a quarter where violent antagoplsm
might be expected the proposition is spoken
of doubtfully, members hesitating either to
approve or condemn.
Apparently, there is no possibility Of the
adoption of the plan by this Congress-
and II Is even doubtful whether a meas
ure In any way similar to II will ever be
called up for adoption outside Of commit
tee. Mr.. Springer, who proposes to take up
the question in the banking and currency
committee. has heretofore experienced great
difficulty in coming to an agreement on
any question OF consequence, and they are
more apt to disagree on this than on any
that has heretofore been before them. The
plan does not seem to be very earnestly
indorsed by any one In Congress, though
many speak of IL favorably. Even among
tertained as to the efficacy OF the plan.
Senator ChandIer's Views.
Senator Chandler says that he rather
favors the proposition as summarized In
the Presidents message. The national
bank feature of II. he says, Is good: but
he is not so well prepared to say as much
for the state bank feature. He is afraid
that that would be subject to complica-
tions. II the national bank feature alone
were put in force he believes that they
would have a sound and sufficient cur
rency. The requirement of a 80 per cent
deposit, instead of bonds 10 per cent in ex-
cess Of the currency, of course would weak
en- the currency, but this Is compensated
for by the fact that q credit on the whole
system of banks is applied upon the notes.
One difficult proposition which is presented
by Mr.. Carlisle's system seems to be that
some strong banks might prefer not to
enter into combination which made them
responsible in part for currency issued by
other banks, and these. instead Of remain
ing in the national bank system, might
prefer to become state banks where there
would be no such general responsibility
unless by special provision of state law.
A Southern View.
A radical southern view Of the PROPOSE
ton was pretty well stated by MIR. Snod-
grass of Tennessee He says that the
proposition is a scheme to divide the silver
men so as to continue the power of the
banks. He credits Mr.. Carlisle and Mr.
Cleveland with a purpose Of tempting
southern men who in favor Of silver
merely as ii tends to the extension Of the
currency to meet the demands of trade,
but do not care for the metal as a metal.
He thinks that the idea Of the gold men Is
that II the men who occupy this attitude
they will not question much the character,
and will be satisfied without trying to do
any more fer silver. A currency thus Sc
cure1 would not, in his Judgment, be
safe currency. certainly not as safe as sill
yer, and not having as much substantial
value behind II. He does not believe that
the southern men will allow themselves to
be trapped In this way. He regards the
movement as a means to hurt silver rather
than to improve or enlarge the currency
of the country.