The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-01-09

E = g.
l1ls own pierce Where did he go2 To
slszzards Bay. And ever since fileold
SHY Of state has been 5unaping her
nose into Hog Island and founcering IN
the waters Of Buzzaaa7's Bay with
prosperity but a cable length away.
There was a panic being precipitated
by the yulturessof the hanks" Mr.. Sib-
ley shouted, beside which the last
panic was o gentle zephyr to a Shrek
ing cyclone. He had figures which he
haG prepared hast June and which, at
Trained from using. showing that banks
and trusts could not pay SO cents on
the dollar. The administration had
so carried out the declaratie that the
PARITY Of all kinds Of money would be
nj ak lined, that all other kinds but
gold had become mere promissory
notes for payment of the gold.
Speaking of his Democratic princi-
pies, Mr.. Sibiey said that If he got
snto what he supposed was mahogoiy
wagcA and found it was veneered bass
WOOD being driven over a rocky road
by an inexperienced driver, he would
jump out and would rot care much
where he landed.
He drew a picturesque sketch Of
Democrats sitting around banquet
halls tonight worshipping at the shrine
OF lAIE11,2iW o2NlSSOl ANU li3htAAe5 t1lSS-
ries as different from his as the throne
OF hades from the fruit of the tree of.
life. And if Andrew Jackscns spirit
were to appear 1T would, he concluded,
kick over the tables and Danish those
apostles in disgust
Mr. Cox fDem). of Tennessee. fol-
lowing with a. careful argument in fa-
vor Of the bill He pointed out the
many evils of the present system and
explained at length his views of the
results Of the Carlisle plan if put IN
operation.
Mr.. Stone, (Rep.), of Pennsylvania.
did not think the pending Dill would
relieve the treasury situation, nor did
he in face believe the retirement Of all
check the demand for gold. IF gold
was required for commerce, gold would
be secured, if not from the treasury
then from private holders. There was
no reason why there should be a scar
city os geld The difficulty now was
that the Democratic party was too
cowardly to meet the present and
growing difficulty of authorizing the
issue of a. low rate bonds to tide over
the present emergency.
Striking n Dead Bill.
Mr.. johnson, Dem), of Ohio. follow
ed with a caustic speech in opposition
10 tie measure. He said he thought
he owed an apology to the public for
speaking against a bill which was as
dead as this was He denied that this
bill was designed TO take the govern,
ment out of the banking business ana
asserted no bill could be devised for
sound currency issues which would not
place them under the government SUI
pervision and in effect make them al
ternately redeematAe by the govern
rrent It was the Office of the gov
eminent TO Furnish money. This bin
proposed to confer on banks without
1irnit q right that could only be con-
ferred on a monopoly. It gave them
a monopoly or it was a failure. He
attempted to demonstrate that the bill
would confer the same monopoly on
the banks that the Bank Of England
and the Bank of France had. This was
true because the greenbacks and treas
ury notes on which circulation could
be taken out were limited in number.
There were but S475,ooo,oo0 of these
notes. When they were deposited for
circulation the monopoly would be
complete.
Mr.. Johnson sketched a scheme by
which a. dishonest man, entirely within
the terms Of this bill, could make $751;
600 il two weeks by starting a bank.
Gould that not be done under the
present law" asked Mr.. Springer.
No, sir" replied Mr.. Johnson, tebe-
cause he must deposit $114, 900 worth of
bonds to get 100000 in circulation
Could not the Canadian banks per-
seIrate the same frauds?" asked Mr..
Springer, returning to the assault.
NO" replied Mr.. johnson, because
the Canadian system is a government
monopoly
Mr.. Morse made a. brief speech in. op-
position to the bill and then Mr.. Bland,
The leader of the silver Democrats OF
the House, took a. stand against il. He
spoke with great feeling. This bill. he
declared, was an attempt to temporarize
with a great issue. He called atten.
ton to the Democratic platform of 1892
me pledges 10 settle the financial uues-
ton on the lines of bi-metalIisn. He
traced the course of those who. he al.
legged, were carrying out a conspiracy
first, the repeal Of the silver purchase
law and now, the contamination a.
their plans.
Mr.. Bland predicted flat if this hill
became law the greenbacks Wo1Ild
disappear and to secure the gold stand
erd silver would be entirely elir7ine ted
In conclusion. Mr.. Bland PROTESTED
against the bill, lin the name of ont.
ragged Democracy. Neither this House
nor this administration is the Demo
cratic party" said he, land I anre,a
10 the masses Of. Democracy to reor
ganize on the lines OF the principles o.
jefferson and Jackson. LApplause.)
Mr.. Coffeen Dem.), of Wyoming
concluded the debate for the dav II
opposition TO the bill. and at O'CLOCK
the House took a recess until 6 o'clock
when. under a special order made YES
terday, the bill prepared by the Pen
sion committee for the codifcafion q
The pension laws was formally read.