The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1894-12-22
into A COOKED HAT
CarlislsS Pct Plan Gets q Heavy Swat
10 The Bye.
CONGRESS WON'T HAVE 1T
The Scheme Now 10 to Present
Substituts That VIII Be some-
what Less Offensive to the
Country's Common sense.

WASHINGTON. Dec. q. - The Carlisle
currency bill now before tho house of
representatives will he withdrawn and o
substitute presented. This decision vas
reached after caucus Of the democratic
members Of the banking and currency
committee quietly held last night, fol-
lowed by conference between Secretary
Carlisle and Chairman Springer to-day.
The substitute has already been drawn,
aud will be offered by MIR. Springer before
tho recsss, M tho desire of all concerned
10 to get II before the country prior to adj
journment. Il differs very materially
from the original Carlisle bill.
Two very important features appear for
the first time in the substitute. The
original Carlisle bill contemplated that all
national banks must rcorganixe under the
TO surrender tho government bonds which
now constitute the basis of their circula'
tion. Tho substitute docs away with this
imperative change.
II the national hanks wish to continne
to hold their United States bonds and
issue circulation thereon, they may do so.
II II felt that they will soon discover the
advantages Of the new system aud there
fore adopt II voluntarily.
The other important feature Of the sub.
stitu,s Il that Il does away with tho un.
known liability Of the hanks in tho guar.
antee Of the notes OF all other banks. The
original bill contemplated that IT bank
failed its notes would be paid out Of ito
assets and general safety fund.-" made
up by oil the banks, but il all tho assets
and tho safety fund were insufficient tc
pay the no,es Of the failed bank, then the
comptroller Of the currency was to make
pro rata assessment and shoulder them
with an unknown risk. In fact 1t made
them supply On insurance on all notes ol
banks in which they had no concern. Ia
view OF these criticisms, the substitute
will do away with tho assessment plan
Tho ''safety fund" will be limited joint
liability OF all the banks for the failure oi
individual hanks. They will, however
be compelled to keep up this safety fund
by moro rigid provisions thnn proposed In
tho original bill.
Al least 20 members OF tho house
crowded Into the area IN front Of the
speakers rostrum to-day In an effort Il
;sseu the passage BY unanimous oonsen'
Of bills Of local importance, but English o.
New Jersey, who has inauguratcd war o.
retaliation against unanimous conscn
upon legislation until q measure Of hi,
passed, was on guard and obdurate. How
ever. he allowed q joint resolution oiferct
by Livingston Of Georgia, providing fol
the entrance of foreign exhibits to thu
cotton states' international exposition n
Atlanta next year. to 90 through.
"This bill, understand, involves the
admission Of contract labor" suggested
Wilson OF Washington, humorously. ri
want to remind the gentleman that but q
short time ago the country was in fu'
roro over the admission OF y single coach
man. Docs this bill provide for the ad
mission Of English coachmen?"
ut does not" replied Livingston, amit
laughter. English also allowed tho senat,
bill amending the act creating the cour
Of appeals Of tho District Of Columbia Z,
pass.
English finally demanded tho rcgula
order aud joint resolution providing fo
holiday recess from Saturday. Dec. -, (,
Thursday, Jan. 8, was adopted.
Tho house then, on Springer's motion
went into committee Of tho whole To-
the further consideration Of tho currcnc.
bill.
Psndleton Of West Virginia was rccoe
nized by .he chairman. but before he coul,
proceed Johnson Of Indiana arose for th,
purpose, as he stated, to PROFOUND Nh In