Crawford avalanche. (Grayling, Mich.) 1879-19??, 1895-01-10
At the National Capital.

The Hawaiian question was again
brought before the public In the Senate
Friday by the discussion of the resolu-
ton introduced by Mr. Lodge, of Massa-
chusetts, calling ON the Secretary Of the
Navy for information as to why the
United States battleships had been with
drawn from Hawaiian waters. The de-
bate, which was interesting throughout,
consumed the greater part of the morn
ing hour and at its close the resolution
took it's place on the calendar and can
now be taken up only by unanimous con-
sent. The debate was listened to atten-
lively by Senators and visitors in the gal
leries. The general debate on the cur
rency bill consumed the time of the
House. The feature Of the days debate
was the speech made in opposition to tho
measure by Representative Hendrix, q
New York banker The situati that
confronted the treasury and the country,
he said, had not come suddenly upon US
nor without ample warning. A finance
minister of France had once remarked
sarcastically that God was good to
drunken people, little children and the
people of the United States. Was the
United States to go out of the business
of furnishing currency for the country as
a bank issue? Mr.. Hendrix asked. If
not, what was it going to do in order to
avoid the financial bad lands! Were the
people transgressing every law of finance,
defying the world, and continue to do
what every other nation had failed to do?
To illustrate the result of the present
system, Mr.. Hendrix poinsSsa to the large
accessions of gold made by the Bank Of
France and the Bank of England at our
expense. The former yesterday held
1900, 100000 gold francs, the latter $780,
100000 in gold The capital and the
gold bullion of the world was resting in
these great pools, waiting to see what
this country would do; whether it would
become n bankrupt unable to meet its
obligations. Mr.. Hendrix depicted
graphically the present anomalous situa-
ton, the credit of the United States ex-
cellent, money idle the banks full, enter
prise at the lowest ebb, men living from
hand to mouth and the treasury fighting
to keep its head above water. He de-
scribed at some length the process by
which the gold was withdrawn by specu-
lators for shipment abroad, and then pro-
ceeded to contrast this with the situation
in France, where the Bank of France re-
fused to pay except where actually neces-
sary, more than per cent. of gold on it's
demand obligations. These aggressions
on our gold reserve must be stopped, and
If the pending bill would stop them, af-
ford relief, take the Government out Of
the banking business as it had been taken
out of the silver business, he would vote
for it. Mr.. Hepburn, formerly solicitor
of the treasury, briefly replied to Mr.
Hendrix, whom he described as a self
heralded national banker who came with
oracular utterances to tell the House
what to do. Mr.. Hepburn said his self
laudation was impaired by the recollec?
ton of his speech sixteen months ago,
when the same conditions existed. Mr..
Hendrix then found the panacea for ali
financial ills in the repeal of the Sherman
silver law. Mr.. Hepburn declared that
Mr.. Hendrix had pointed out unwittingly
the remedy for the present evil when he
told the House that the great banking
houses of Europe exercised their discre-
ton about depicting their gold vaults
Why will not the Secretary of the Treas
ury exercise the same discretion? he
asked, amid a round of applause. The
exercise of this discretion did not impair
the credit of European banks Who dared
to say that the credit of this country,
with 630O0,O00 of people behind it and
an unlimited taxing power. would be inn
paired because it refused to kneel at the
of the shylocks?
In the House Saturday Congressman
Cochran made vigorous speech against
the currency bill. He advocated the
Baltimore plan. He was seconded by
Mr.. Lacey of Iowa, Mr.. Bland of Mis-
souri,, and Mr. Pence of Colorado, while
Mr.. Boatner Of Louisiana and Mr. Catch
ings of Mississippi exhorted their party
to unite in support of the measure.