New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-02-06
REED DISPELS THE GLOON.
HIS SPEECH ON FINANCE WAKES UP THE
HOUSE.

r,sr1rssNEss OF THE DEBATE on THE ADMIN
,sTp.r,oS.s BILL INSTANTLY DIssIPATED
WHEN THE MAINE STATESMAN ROSE
HE POINTS OUT THE ONLY PRACTI-
CABLE WAY OF RELIEVING THE
TREASURY AND OFFERS
BILL TO ACCOMPLISH IT.
fsv TELEGRAPH TO THE TRIBuNEl
Washington. Feb. 5.-The House of Representa-
lives never entered upon the consideration Of any
important measure, financial or otherwise in
more Hstless and spirtless manner than 1t ex-
b,bted to-day when the ADMINISTRATORS finan-
cial bill No 5 was taken up. In the opinion of an
overwhelming ajorty of the members. the three
DAYS allotted for the discussion Of this matter
would be 50 much time virtually wasted They
believed that even If the pending bill or any sub
stitute for 1t should pass the House Of Repre-
sentatives il would never get any further before
the expiration Of this Congress. and most Of them
appeared TO be utterly Indifferent in regard TO Its
fate. SO apparent the indifference of the
members of the majority after the House had
gone into Committee of the Whole under the spe-
cial order adopted yesterday that Mr. Hatch's re-
mark to the effect that II nobody desired to de-
bate the bill it might be as we'll to drop II seeheu
TO be exceedingly appropriate and tpeiY
on Banking and Currency. in whose breast, at
least hope springs eternal. appeared to feel the
influence of the general detection and depression.
not 10 say hopelessness which surrounded him.
and the speech with which he opened the debate
was not such as a leader confident Of the merits
and efficacy Of the means Of relief he proposed
would have delivered. OF course. Mr.. Springer
was heavily handicapped. He keenly realized
that bis arguments were poured into the ears OF
men on his own side who were Indifferent or hos
tile to the pending bill and deaf to all appeals
and entreaties In behalf Of the Administrations
financial schemes. He also conscious OF the
fact that before to-day's sitting ended his argu-
ments would be vigorously attacked and the pro-
visions Of the bill bitterly assailed by Democratic
members Of the committee from which It had been
reported "for consideration only" Moreover. even
the Sangamon statesman could not be blind to the
fact that the Republicans to whom the party in
power always appeals and never in vain when
practical and patriotic action is demanded TO meet
an emergency created by Democratic incompe
fence or wilfulness. alive to the situation,
and that a majority OF them believed that the
pending scheme futile and hopeless one
under the circumstances: that 1t was confessedly
q poor sort Of thing even as makeshnt, ana
that to cothe it with the authority and dignity Of
law with Congress within less than month of its
dissolution would be utterly impractica5le
Mr. REED STATES THE CASE.
If these and other obstacles were not visible 10
Chairman Springer when he delivered his speech,
he was made to perceive them clearly later in
the day. when Mr.. Reed, in the short space OF
twenty minutes. gave plain. clear and luminous
statement Of the facts Of the existing situation
and its causes and suggested what In his
opinion was the only prLc'icable measure OF
relief under the circumstances statement ana
suggestion which the brightest mind could rot
fail to appreciate nor the dullest refuse or fail
20 comprehend. 1t was reassuring TO witness the
attentiveness Of members of the House. IRE
spective OF party or factonal utilization or preju-
dice during the delivery Of Mr.. Reeds httle
speech which. brief as it was appeared TO en-
brace the entire scope CT the emergency and 10
suggest the best If not the only practicable. way
10 deal with II at this stage OF the session IL
was a statement Of facts which could not be
denied. rather than an argument when mign.
be controverted. successfully or otherwise ana II
was wholly devoid Of partisan spirit or sugges-
ton. ~,
II the Democrats Demo Populists and Popu-
lists did not join in the applause which foiiowed
the conclusion of the speech. II was no, because
tho applause was reward bestowed by Re
uublicans upon a member of their own party lot
a partisan speech. The fact that men VINO lalled
IN annIaud listened attentivey and respectfully
10 the leader Of the minority was rather cheeF-
ful sign OF course ii remains 10 be seen no"
long Inc impression produced by MIR. Reed %
day will remain and whether the majority OF the
House will follow his plain. sensible ana piacu-
cal suggestions or plunge anew into the whri-
pool of conflicting prejudces, confusing ana con
fused financial theories and inpracucaoie sus-
gestions which has thus far wrecked every
scheme prepared by the Administration ana pre-
vented any progress whatever toward soIu.ioh
Of the financial difficulties which beset the Ma
,ional Treasury and threaten the National cred
It, Mr.. Reed did not contend that the remedy ne
proposed was the best which could be APP
vii
The only one within possible reacn AT this tine'
and that Il would be urw1se 10 encuflDer ihe
r,roposed measure Of relief with provisions which
must inevitably defeat the purpose which every
patriotic citizen was anxious to have accom-
plished.
THE BILL DENOUNCED BY DEMOCRATS
The vigorous speeches of Messrs Cox, OF Ten
nessee. Hall. OF Missouri. and Swanson, OF VIZ
ginia in opposition to the bill. seemed 10 eNci'e
more interest and to be received with a greater
degree Of approval among the Democrats man
did the speech OF Chairman Springer IN 1aVor
NJ il Messrs Cox and Hall members OF the
Committee Banking and Currency. 'oth oi
them friendly TO FIR ee coinage OF silver anu
both are also Jealous advocates and stancn sup
uorters of the proposition to repeal the lax on
State banknote circulation They are therefore
strongly in favor OF Adninsration oili ~
with some amendments and the former Will o1er
Il as a substitute for Administration bill NO. 8.
which is now pending Nh Swanson. who is
Young in years and exceedingly immature as a
statesman would have appeared 10 better advan-
tage to-day if he had exercised more self-re-
straint and had not so violently assailed the Adj
yninistratIon which he helped TO place In power.
such speeches as he and Mr.. Cox delivered are
discouraging to men who still cherish a faint
hope that the party In power VIII 90 anytnins
~ pn.rrnit ANYTHING to be done for the relief of
the National Treasury Some Of Mr.. Coxs al
msons 20 Chairman Springer and the agility
and frequency with which ne changes MS atti.
trde ., financial questions were the reverse Of
complimentary. and fully justified Mr.. Hall In
Expressing the hope that Democratic representa-
tives would hereafter refrain from Wasning
their soiled party linen In public"
THE DEBATE IN DETAIL.
Washington Feb Sin the House to-day MY.