New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-12-14
A BAD DAY FOR CARLISLE.
HIS PARTISAN ,sCURRENCY REFORM
- PLAN GETS MORE HARD KNOCKS
sppINGER's COMMITTEE DETERMINED TO RUSH
IT THROUGH DESPITE THE OBJECTIONS
or PRACTICAL. F1NANCIERS - SHARP
CRITICISM FROM EX-CONTROILER
HEPBURN AND PREsl-
DENT CORNWELL
10y TELEGRAPH TO THE TEIBI'NE.l


evident in regard TO the action OF the House Co"'-
mittee on Banking and Currency. and that is 'hat
the Administrations currency scheme Is TO pe
railroaded through the committee. without any con-
sideration worthy of the name and despite 'he
overwhelming mass OF testimony against II OF
nrac,ical bankers and business men and students
OF financial subjects irrespective OF party Inc
scheme is a partisan "emergcncy schcine ITO
moro and no less-and tho observer who ia'is 10
recognize that fact is dull indeed Any one WIZ
will recall the efforts attempts Mt currency
legislation since the LID Congress first assembled
more than sixteen months ago-during more thoh
three-fourths OF which time II has been IN ac'uai
scssion-wi at once say that no sohc'tudc vas
exhibited by the Administration In behalf o' cur
rency reform; that neither the House committee
on Banking and Currency nor the Finance Co"-
mittce OF The Senate showed any symptoms OF hastc
or oaYcrness 10 frame currency relor" measure
and urge its consideration.
The Banking and Currency Committee reid meet
ings from time TO time for n period OF some '"'No
months prior to the beginning or the present Scs
sion. and there were sporadic hearings -V"e"!
Of REPRESENTATIVES each Of whom desired TO ex-
,,,oit h,s not hobby But there was absolutely no
ottempt made or suggested by the committee as a
whole to reform the currency. Inc commute
did not even go through the mouohs ]" "e""'
Of any plan of currency reform ana ''e nuns
heavy on its hands. The only visible 'rui's OF us
labor during that twelve months were an adverse
o,o in tho House OF Representatives on the uncon-
ditonal repeal OF the tax on state BANK note Il"
culation and a printed volume OF some ~" oc'"No
pages mainly devoted to the OPINIONS an" S'''
ments OF about thirty congressman Oh N"''o"'
financial topics During all that time the SECRETARY
~ the Treasury was quescent. and the President
Of the United States remained as silent "s "
snb,nx. Having driven enough members or MS
marty in Congress to join the Republicans III passH
an act for the unconditional repeal OF the p'o'''o''
authorizing the purchase OF silver bui'o"' '"o
giant rested from his labors ana ho'hme "o'
waa heard from him on the subject OF currency
o.or,," until after the Congress elections OF No
.or,her A 1891 except on the single occasion wheh
be vo,oed the Vacuum b' passed by pemocrauc
ma iorties in Congress
4 SUDDEN ZEAL DEVELOPED
Even then. however. heither he nor MS SECRETARY
az the Treasury had a scheme OF currency re'o'"
in his mind-or. II he did have one IL was kept
nrofornd secret. Days grew 20 weeks ana weeks 10
months before such a scheme was proa0hen' ~
shadowy outline vouchsafec IN the a''""''
,.ssaye which was sent TO Congress ten days ago.
and fuller but yet imperfect outline was w"
nished by the Secretary OF the Treasury IN 'S nm
nual report. which was submitted 10 'he i'o"''
representatives on December but 1t was not until
q week later that all the beauties OF the s'he"'e
were exhibited in the form OF draft OF D''' SUP
,o,,ad hv Secretary Carlisle In person TO IN" tom
mittee on Banking and Currency OF the hous' VI
Representatives. review OF these facts ana 'a'e
will clearly show that, whereas ffes'ue"'
| o,d Secretary Carlisle had marched with ieaneh
! ,,o.s,ans ,ouarl the goal OF currency reform
s,r more than a year prior TO the recent elections
| they have marching "'"nble-qucK IN the
same drec,lon-or other direction since that
| time and have covered immense space within
| the last fortnight.
But said In the beginning l. u clearly
| evident that Chairman Springer and his Demo
cratic associates OF the Committee on BANKING ana
Currency are no, only eager to emulate the rieS-
dent and Secretary OF the Treasury In the race
for Currency reform" but to distance them Inc
chances now appear be that they VIII succeed as
they perhaps ought TO be e&p.c,ed - 90 ipr
capped BY any heavy feeling OF responsibility ~, 10
swiftly do matters move thai the currency OH
which appeared in Official prin: YESTERDAY as me
but dubbed the Springer bl Moreover ~ - ~, sem
to close saturday and that the o PERHAPS %, -,
few NOMINATIONS wiz D. and H. INN
| date consideration urged with view TO lis passaSe
nrosramme Is carried out. OF course such thing as
FAIR consideration Of The measur.' ttn"I IN , ,re
one fact alone will Clearly prove that TINS assertion
is true This The fourth day o. me p9oc near
could not be obtained M to The time the comln'ee
adjourned h- afternoon Txc"sg emo SpneaTs
on that day a. well on the following day desired
phev were made public This Is rather unusual
| mode OF procedure where public hearlnes are hr'l,
| Wr c,arlis!cs oral statements are always made
| With great deberation and are remarkable ar ran"
| for mcidity
| put another fact about these hearings invites
4 comment The men who have thus far appeared
i before the committee IN person or who have sub
mitted their views In writing have done 40 In re-
| snonse to written invitations sent TO them by
chairman Springer who II he did not select them.
| a, ,sas, approved the selections made by other
| members OF the committee. Moreover. II should be
| said I'm all fairness and with great emphasis mat
| every man who has appeared before the commit
| too or communicated with II In writing has shown
| nv hi. statements that he not only ready and
! anxious TO render ell the assistance In his power
| N the committee, but was qualified by study ana
| experience to offer suggestions and advice mat
| any wise and prudent legislator would AT least
| carefully and thoughtfully consider. even II ne
did not accept them Not one OF these men appeared
| 10 have a political or partisan axe to grind ana
| .r,orc Thorn we're men OF different political opin-
| ions II was clearly apparent That ell or then'
arc mon Of independent habits OF thought ana thht
! their opinions and convictions are b'se' "po"
careful study and long practical experience.
| THE. PLAN UTTERLY DIscREDITEr.
| 7. has happened 20 turn out. however. that not
one OF these men is ,inquallhedly In favor OF the
| Cleveland CARLISLE Springer scheme; that ma
| ior!ty O. them strongly condemn many OF us
| provisions as impracticable II not actually dah-
| gerous md that several OF them condemn Inc
| whole scheme. 1t is not probable that measure
| VAS ever more completely ridded than this one
has brcn by competent ana hDie cri'icS. T'''"
| the Democratic Controller OF the Currency wonid
| not undertake 10 defend the scheme preached and
| advocated by his official superior. but proposed
| different one-One, too which several Democratic
| members OF the committee prefer. although they
will probably be- forced to pocket their convictions
| and support the ADMINISTRATORS Imitation meas
| ure. If anything more had been needed 10 MAKE
the purpose Of the ma jory Of the committee toe
pIain body misunderstand II was furnished
| by to-dny's proceedings. 1t was evident 'ha' inc
! Democratic henderson most OF thcm-tho"gh
| that they had heard enough and more thar
enough in dispraise OF the nauseous dose wn",
| they were about to swallow with as little snow OF
| reluctance and as few grmaccs possible. and
| that they were anxious to do their part as soor
| ag nOqsibc.