New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-01-06

| cleS, Dut must De Oealt with according those
, OF mankind. If this House shall succeed in estab-
sstent with human experience. with human rea.
son ITS remaining ain, days VIII not be without profit
Proceeding with his discussion Mr.. Cochran said
mat mat an nd american people had always loved mys-
deep to be understood by the people, had enabled
had talked msht have WIN" been d ne
covered He believed there was nothing myser-
out assuming that he had discovered any prin-
cihies; ana expose the 9uaeks from whose dis
QUESTIONS the people had suffered in the last
Mr.. Bland interrupted "a suggest the effect upon
of silver in 1878. TO which Mr.. Cochran responded
mat ne was not one OF hos n wnG believed d thai
tablished by acts Of Congress. All the law and
When the good Coo. driving him forth from the
! Garden OF Eden toi HIM for his instruction and
eat bread In The earth and in the earth alone
dwells the prosperity Of n people.
\ MONUMENT or FOLLY.
Mr.. Cochran illustrated the Of money by
following a dollar through its various transactions
, OF a day. From this he passed the functions Of
! banks, and showed that Tor handling the deposits
of all their depositors amounting to N.720NON0
transferring Them from one point TO another. plac-
ing them where they would do the most good the
National banks In the last year received as com
pensation less than ITO OF per cent Money. in
his opinion should be based upon property and not
upon debts. by property he meant not only Tangible
objects. hut commercial assets, quick assets that
could be converted demand, and which would
make the note issued upon them good everywhere.
question by Mr. Hutcheson s'" IDem. Fexa5. vas
like taking the locomotive, The
ike ssns G5o 9 m nssd pc
10 IT. It, Inc blll under discussion would fail
single mole would be issued under i, in a year. L
oSse s whSb as Of the folly folly 81 the
Perience or twenty years. stu attempted to inter
trouble Of the present time. said Mr.. Cochran was
MOI paunSity OF currency. but redundancy The
money based upon the s5NOcco,o OF Government
paper money. DO you suppose" he asked. that
circulation VIII issue three notes for every one it
as substitute for the pending bill Mr. Cochran
what he believed 10 be a genuine currency reform
1t did not provide all that he thought oush; TO he
objection State banks issuing the notes described
In It, He said he could not understand the ex-
fallacious as some of the provisions OF the bill he
a ocka FOR Of %
to its nature and cause. The greenback. he said,
the treasury to additional demands For II the
Government had not had the greenback in its
paid out the gold dollar. which it afterward ~
ssn,ea upon 10 Pay whn the @ IS pe
back. was he said, that Il was debt. The Gov
its debt 1t should set the example OF honesty
which underlies its laws and do anything itself
which it would not permit or approve in Its humbest
citizen, NJ. c,,.,,- ro,.us =. o..,.. -. NJ Plan,
early in his remarks II he had not prophesied that
the repeal OF the purchasing clause OF the sherman
Jaw "oud prevent me panic, Inc csnse o, me
Mckinley law. combined with those Of the financial
gentleman from Maine (Mr. Boutelie) does the
honor TO greet that statement with laugh" said
lection he will recognize the truth Of IT, For the
oss OF II Soa S po Gns m
competition with the whole world you would not
sestion Mr. Coo kran said that the proi,able as
support and maintain those that were unprohtsble
The growing deficiency in these branches OF busI-
ness ne said had led TO TO the panic n,,, 81, -,
to his friend Of New-York that he had heard noth-
ing like that since the 9th OF November last,
Mi Cochran responded that IT took something
convictions TO prevent him from speaking tho
trTth as n. +; appeared sa,, TO. to him i'm.
was the idea that the argument Just advanced by
S Of d mann oe rnsa upon the
ton. But maybe the gentleman made but few
speeches in the Democratic canvass" G.aughter)
THE DEMOCRACY NOT IN IT"
Mr.. Cockran-It Is my opinion tina, tho Demo
cratic party wasn't in the canvass CRenewed |
laughter) 1t was something nasaueradlng in the |
name Of Democracy which the people deemed |
worthy and properly so. to be ground beneath their
heels LAppause)
Mr.. Cochran appealed TO his hearers on the moor |
70 Join IN effort TO bring relief to the people Of |
tho country. In the OF this he inter |
rupted by Mr.. Henderson Rep, Iowa.. and Mr.. |
Walker Gtep. Msss). the former OF whom asked |
him II the first question to which the House should
address itself how to raise money to pay the
current expenditures OF the country
1T IL. but not all the question: Mr.. Cochran
responded. 1T Is vicious political and financial
system which makes trade and commerce de-
non fhc Of he
To Mr.. Walker Mr.. Cochran admitted that II was
probably impossible to do anything for the relief OF
the people until the Treasury had been divorced
from the currency business. But am not seek
ing to relieve the Treasury. but the people" he
said The Baltimore plan. Mr.. Cochran believed.
met every phase OF the present financial difficulty.
but ne did believe 1t could be enacted into law.
M Cochran held ths attention OF the moor ana
Mr. c9ombs Dem. * - presented for nforma;
by himself. which Mr.. Cochran said he would
Mr Caichings Dem MissJ defended the Carlisle
b drawing ,b oe'Wre9 ana ,ne 81 NE
two the better measure The Carlisle biil' he said
eminent issues OF paper money: and It made
beginning in that direction The Baltimore plan dld
trement Of the egal-tenders. and ne was surprised
Heads sdS did "dt ne a. % for
course. II IT was deemed so important
banker in the Baltimore Convention. not a man
VINO has ever advocated the baltimore plan ana
not a committed to lts currency principle who
did not proceed upon the theory that II was To
follow the retirement OF the demand debt from the
currency OF country. The bankers were not
suggesting legislation affecting the Governments
own business They settling a theorem which
applied TO the business OF the banks to supply the
currency
The. Baltimore plan; said Mr. ca s s had no
thought beyond the interests OF the bankers. lie
would like 10 amend the pending bill so that no
ba nix should nav any but fs own 80 az to
drive them back TO the community where they
At the conclusion OF Mr. Catchings's remarks. the
committee =, ,..
sneaker Crisp laid before the House the Military
A rsdemv Authorization bill. with Senate amend