The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1894-12-19
IN THE HOUSE.
carlisls's Casrsasy Plsa severely Csssi'
oiscd

cariisls's Casrsasy Plsa severely Csssi.
eised.
WASHINGTON, Dec. 1A-Notwithstand.
ing the fact that the debate on the cur.
rency bill was scheduled to begin in the
house to-day. less than 100 members were
present when Speaker Crisp dropped the
eavel. The committee on rules had Pre-.
parsd Q special order under which The
house should operate, but had decided In
view Of democratic opposition to the
measure. not to olfsr Il st present, but n,
low Springer to call up the bill By virtue
Of its privilege.
Immsdiatsly after the call Of commit.
tess for reports, the chairman Of the bank.
house 20 INTO committee Of the whole tor
the consideration Of the measure. The
motion prevailed without discussion and
Richardson Of tennessee took the chair.
Walker Of Massachusetts,, In charge Of
the opposition to the measure, gave notice
that at the proper time he would offer .
substitute.
Springer, before entering upon an ar
eument, asked that the general debate b
considered closed on Saturday next, when
the holiday recess 10 to be taken.
Walker protested against any arrange
ment at this tims. He said he felt con.
vincsd that no member would discuss
this measure In other than . serious vein.
The attempts to reach IN agreement
having failed. Springer delivered the
opening speech IN favor OF the currency
bill. The great importance Of the i'm.
pending measure, hs said. could mot b
more effectively emphasized than By ~
ferring to the report Of the comptroller Of
the currency which showed that last year
there were s,00o,OQo dspositors In the na-
tioual banks hsvi,i p capital stock aeRre.
eating sl.Oes, ,0O0060 Their deposits
amounted to sa.22O, 100000. Mr.. Springer
declared the committee had given the
subject tho most careful consideration.
Il had carefully examined the recon-
mendations Of the president and secro-
tary of the treasury had called before II
some Of the financial men OF the country,
and the result had been the presentation
OF the pending measure as o measure Of
financial reform. He did not pretend to
say the bill represented the views Of the
individual members Of the committee. Il
Was 0 compromise and - such hars
monissd fairly the views Of all.
Springer then proceeded to detail the
scheme Of the bill.
Sicklss interrupted Springer to ask how
he reconciled the second and afth sec.
tions OF tho bill. The second provided
that note holders should have the first
lien on the assets Of the bank issuing
them; then the fifth ssvo the association
Of bankers contributing to the safety fund
the FIRST lien on the assets.
Springer replied that the proposed act
gave the bill holders the first lien on the
assets, tho banking association the first
lien on the ''remaining" assets.
"But the word remaining 10 not in the
fifth section" said Sickles.
"That will be the effect of tho law" ro-
marked Springer.
at Is not law yet" retorted Sickles.
"You must vote II through arst.n
Springer finally admitted that the word
''rcmaining," should have been incorpo.
rated in the fifth section but said this was
one OF the slight defects of the bill that
could be readily corrected.
"In the case of q panic IL half tho banks
in this proposed system should fail" in.
qurcd Mahon, 'would the other half bo
assessed to redeem the failed bank
notes."
"Certainly."