Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-12-19

time he would move TO amend section
Of the bill so as 10 give the national banks
year after the passage OF the bill WITHIN
which to comply with the terms OF the
law. instead Of fixing the limit at june
80, 1895. He believed that the banks could
at once conform to the requirements OF
the bill, but he recognized. he said, the
necessity Of avoiding anything that might
possibly cause furry In financial circles
Referring to the provision regarding
State-bank Issues. Mr.. Springer said that
IL might be assumed that States which
wished the circulation OF their banks
TO go beyond the borders OF the State
would make provision for the redemption
of their bank notes, which would make
them safe. The State-bank notes now
ever. would not be a legal tender. The
proposition regarding State banks was diff
fCrent from the one discussed by the
House at its last session-the repeal Of
the 10 per cent. tax.
He did not favor the repeal q the
10 per cent. tax. He had not changed
his mind regarding the State banks. but
this did not prevent him from agreeing
TO a compromise. as he was not the Kind
OF legislator who refused to take anything
because he could not get what he wanted.
This was not such a bill as he would
report If he could have had his way.
All legislation was the result of com
promise, and If any benefits were ex-
pected, this should be accepted. If this
bill was enacted into law IT would i'm
prove our financial system. II would rot
only do this, but, in his opinion, 1t would
give the United States the best financial
system OF any civilized country In the
world.
'If we should pass IT," said he, eve
would receive the commentator Of our
constituents. which we did not receive
at the last election"
In closing, Mr. Springer called on MEM
beers TO support the measure. AMI give
the country a much-needed relief
WALKER IN OPPOSITION.
Mr.. Walker Republlcan), Of Massachu-
sets. followed. In opening he referred
to the Baltimore plan. and dismissed 4,
after brief criticism by saying that It
did not deserve n moments consilera-
ton. In response to the Carlisle bill.
he said that II there ever was case
In which bread was asked and Il stone
given, fish asked and a scorpion given,
it was I'm this instance.
Under the lead of questions by members
surrounding him, Mr.. Walker said his
bill had been reported to the House in
the tlfty-second Congress by Represen-
tatiVe Bacon. chairman Of the Commit
tee on Banking and Currency.
Mr. Walker said he wanted to get back
10 the Jackson-Benton Democratic plat
form of compelling the banks, in return
for the franchises granted them, to main
tain at their own expense the parity OF
their notes with gold.
Il want Congress" he said, "to dc
with regard to banking Just what II
does with regard to murder and theft
NEEDLE for the benefit of the whole peo.
pie, and for nothing else"
Under the operations of his bill. Mr.
Walker said the losses from failed banks
In the past thirty years would have
amounted to $S.c0O-an infinitesima
amount.
MT. walker expressed the belief that
If his bill was enacted into law, within
eighteen months before President Cleve-
land retired to private life the financial
difficulties now threatening the country
would not only be in process of settle.
mcnt. but entirely solved.
Mr.. Walker said that his bill twas per.
missive: the Secretarys bill was manda.
tory"
: you tell your boy years old that II
he does not do a certain thing you'll
lick him. and he'll fight you. II he's col
lick you. G-aughter) But If you sug
gest that the thing Is for his benefit
and sit down TO show him how 1t vii
be so, he will 90 right off to do IT
Under the Carlisle bill the banks won't
do what they will be glad to do under
the Walker bill. ] may take little rose
colored view OF that subject. however
| may be somewhat tinged with partI
sanship on that point. but I hope not.
TO SAVE THE SECRETARY.
In conclusion Mr.. Walker said his bill
provided for the appointment OF com
mittee consisting Of five leading bankers
In the five principal redemption cities
who shall give the Secretary Of the Trea.
sury advice and counsel in all matters
relating to the financial matters Of thu
government This was a measure Of re-
lief 10 the Secretary that was worth =
whole session OF legislation. "Manninl
has died. Window has died. and any
Secretary who remains at the head Of tbs
Treasury Department four years and doe.
not die has not done his duty" Q.augh
ter and applause)
When it became Mr. Halls turn e
speak. he alluded 10 a substitute TO be
offered for the Carlisle bill by Mr.
Springer chairman OF the committee
he wanted to know when this substitute
came in. The committee didn't know
anything about It.
Mr.. Springer explained that in his re-
marks earlier in the day he had given no
tice TO several amendments which h,
would offer, and in order to avoid votini
upon them separately, he had said h,
might offer them altogether i'm a sub
stitute. The changes were immateral
and such as no one would object to- One
was that current skies might be deposit
ed as security for the national-bank note!
as well as the legal tenders.
Mr. Hall said the milk I'm the cOcOanu
Of opposition to the Carlisle bill wa,
contained in the statement in the mi
nority report: Whatever legislation f.
had with reference 10 the finances OF tn
country. or banking. in its effects upoi
national banks, should be permssive anC
not mandatory as TO national banks whil
their present charters continue"
That is. said he. the banks are not t.
be disturbed in their present monopol!
of the issue of notes. and we must wal
upon their convenience and desire In tn
matter Of banking changes in the law.
At the conclusion Of Mr. Halls re-
marks the committee rose. and, at 81
o'clock. the House adjourned until to
morrow.
Just before adjournment Mr.. Hender
son DemOcraD. of North Carolina, r.
ported the post-ofIice appropriation bill
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