Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-12-19

remarked Mr. springer.
1T is not law yet. retor'Sd Mr.
siclSles. "You must vote u through
nrst."
Mr. Springer nnally admitted that
the word Remaining" should have been
Incorporated In the fifth section, but
said this was one OF the sllglt defects
OF the bill that could be readily cor
rected.
In case of a manic, n hals the banks
IN this proposed system Interrupted
Mr. Alahon (Republieanl OF Pcnnsylva-
MIA, should fall. would the other hat I
be- assessed to redeem the failed banks
notesg''
certainly"
'srhat IS. the solvent banks would I
be bankrupted to aid the insolventI"
"There would he no such result"
replied Mr.. Springer.
III all the banks should fall under
the system. the note holders would be
secure"
In answer to an inquiry, Mir Springer
admitted that time alone could deter
mine the amount OF circulation which
would be taken under any law. but
as far AS the amount OF legal tenders
was concerned for every dollar deposit
ed In the treasury by the banks ~ In
circulation notes would be Issued
while Mr. Springer was discussing
the provision looking TO the ultimate
redemption and retirement OF Legal ten-
| ders emphasizing the necessity for ohla
/ by pointing out that the treasury had
| twice within n year been forced 10 ts-
sue bonds to protect the REDEMPTION
/ fund, Mr. Cannon, Republican, OF llli-
/ nola asked whether Il was not true
| that 100000 600 borrowed 10 maintain
resumption had been in reality used TO
pay the current expenses OF the govern
ment.
"There ls nothing In this bill on that
subject" responded Mr.. Springer.
AIR. Springer gave notice that az the
proper tine he would offer sundry
amendments looking to the perfection
OF the bill. among them one permitting
the deposit OF currency certificates is-
sued under the net or 1877, Si000OO0 OF
which were outstanding.
Mr. Dmgley, Republican OF Maine,
chlded MIR. springer for Inconsistency
IN not supporting a bill which contain
ed a provision for the repeal OF the ten
pee cent tax on state bNnks, mcas-
ure which he had earnestly opposed
leas than ak months ago.
Mr.. Springer insisted that he did OPP
pose the repeal Of the tax on state
banks az n separate measure but when
made part OF n general system or IL
nnncial Reform, he considered II Hbfa,
although he was frank TO say that he
would prefer simply national bank cir
oulatlon.
Mr., Walker Rep) OF Massachusetts,.
who was IN charge OF the opposition to
the measure, then took the floor He
began With a statement Of the essence
Of the Baltimore plan, 'rk. beginning
and the end OF that plan, he said, was
to give the national banks powN TO
withdraw their United States bonds
from the treasury and Issue circulate
ing notes on their assets 10 10 81 per
cent 1t Afforded not n shadow az re-
lief and did not deserve moments
consideration, Again the bill presented
by the secretary OF the treasury was
an amazing scheme. The bill had not a
feature that could be enacted except AZ
ter remodellng without cndnngerlHg tte
financial interests of the country Mr..
. Carlisle had drawn the BIZ over night
He described the peru " the present
condition OF things In the banking
world, the dangers that threatened
. Yet the committee on banking ana
currency had dwlndlod away It's time
until this undigested scheme OF the
secretary OF the TREASURY had been
thrown into thc hopper, when, after
few hearings, II had been brought
into the house without single change
7 Mr.. walker spoke OF his own hill nnd
It's superiority over the Carlisle Pill
He expressed his hope that the OH
would be passed IN place OF the Car
Isle bill.
"Thnt would be done 4 you had Tho
courage Of YOUR convictions" contin
: ued he, addressing the democratic
side. but, falling In mat ! nope 20,
= Will re-commit the Carlisle blll, rs
4 feel assured YOU will when you know
, It's character"
I While contrasting his blu with iiha'
!, OF Mr.. Carlisle he dweit upon the "a
I vantages ~ divorolng trade from w
y government. OF allowing banks to pro
r coed under the laws Of trade mol w y,
K laws OF congress, 4 pa'ht' ne aaiu
I could not be df-nined Of gold Ike tn'
g Federal treasury; the government coul'
= not refuse gold. The bank and ita Gus
"A toners were equally depend nt, pam
K could pay optlonAlly IN gold ana sllNt
under his bill. but the laws OF usint
, the necessities OF the case ana tue ne
e ccssity OF protecting Tue .ulrcnl I
Z would determine The bank OF Franc
furnished an example. The bank o
N France would pay In silver u AiNe
n would do an well az R0lh' II the put
u poses for which tho money was 70
q used required gold, gold would DC pa
"a in any quantity. The laws OF rohklNl
'e could be doficd. the laws Of trade neYsl
While describing the manner
y which his bill would redeem ana retlf
ie the legal tenders Mr.. Tracey. DENT
"a crat Of New York Interrupted HIN
ask II his bill would retire tho saei
~ man notes. .,.
-. ~ yes, slr,' rtpheu Alff NhAN''f ~
- my bill and you viii find all fie q
~ tails worked out. ! have not been {
work on this bill for six years for nois
y. ing"
- ''Nor am l." ne added. the mos
IL stupid man ia tie world. daughter
). have been lab3ring singie-handed
Z NE continued, liftlnB his mana MOI
v. "nntil i5 months ngo when ! deliver.
~ my Chicago Hpseeh That rouhep y
at country somewhat and y mas ~
q rousing ever since" u'sugAier9
Mr.. Walkers elaDorauots u y
n tersnB OF his bill attracted The close
y, attention and members crowded atoul
n. him, hallowing an endless sucefssi
M OF questions. ali 81 which he dexicrOu
-. ly met and parted. His Pill. he D
n, clared, would bring the country ba
he 70 the old Democratic currency ov
~ trfnes OF jackson and Benton
~ The hunks when Il was 10 operate
Il, would hold s2jQ000po9 OK B0ld q
Il. $3.50. 00o. 900 OF SILVER
~, Speaking Of the onerous work plae
el upon tho secretary Of the treasury
IN the attempt 70 keep up the gold
~ serve III times Of financial depression
he Mr. walker created a laugh,
Manning died once, nnia
all .'Windom died IN once, say 20 y
re- that any man who runs The trensu
e. deuartfnent under the existing con
80 AOf4u not a