The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1895-01-04

York postoffice; but Springer, in charge
of the currency bill, cut him off with a
motion to go into committee of the whole
for further consideration. Accordingly
the House went into committee, Richard
son Cd of Tennessee 10 the chair.
Black (D) of Georgia. member OF the
Banking and Currency Committee, TOOK
the floor in favor o; the hill.
The debate started sluggishly. Black
denied at the outset that the Banking ana
Currency Committee had heard only ma
tional bankers while considering the
pending measure and had turned deaf
ear to all others. He met and parrled the
criticisms and gave an historical review OF
the financial doctrines OF Democratic
Presidents from jefferson to Cleveland.
Legislation had not caused all the misfor-
tunes under which the people were suffer-
ing. he said. 1t might have contributed
TO their misfortunes, and be believed the
passage of the present bill would contrib
ute to their relief; but he deprecated the
feeling abroad in the land that for all the
ills and misfortunes Of the people they
should turn to Congress.
Blacks advocacy of State banks issue
was ardent. but he concluded by express
ing, amid applause, the opinion that the
only real function of the Government was
the coinage OF gold and silver.
Haughen (R.) of Wisconsin. who fol-
lowed, opposed the measure. He de-
scribed the bill as a crude, ill-considered
measure, fraught with dangers to the
country, and created considerable amuse-
ment by his reference to Springer's posi-
ton last summer when he (Spr!nger) an
tagonze1 the repeal of the State bank
tax. He referred to Springer as the most
"agile" member on the floor-one whose
voice had been on every side of every
Question-and said the admin stration had
made no mistake when it had elected him
to press the proposition for flexible and
elastic" currency.
At the conclusion of Haughen's remarks
McCreary o. of Kentucky. who was a
member of the Brussels Monetary Confer
ence, took the floor in favor of the meas
ure. He said he had examined all the
plans suggested for a reform Of the cur
rency and he regarded the Carlisle bill as
amended by this Springer modification as
the best solution of the problem offered.
lie was opposed. he said. 20 funding the
He believed the banking business should
be divorced from the Government; that the
greenbacks should be retired by the sur
plus revenues as rapidly as possible, and
that a safe and elastic currency should be
provided. These objects. he thought,
would be attained by the passage of the
pending bill.
McCreary expressed the opinion that in
the event of the failure of some currency
legislation at this session 500, 900 or
$3.50, 00.000 OF bonds would have to be
issued.
"How would the passage of this bill re-
lieve the condition of the treasury ?" asked
Dingey.
McCreary did not answer that question
directly, but said that as the Endorsement
of the President and Secretary of the
Treasury had been given to this bill. all
the members of the House should unite In
an earn est and sincere effort to reform the
currency and give relief to the treasury.
Adams (R.) of Iowa opposed the bill. at
lacking some of its provisions vigorously,
especially the revival of State banks.
While speaking of the depression in all
enterprises he referred 10 the decline OF
fifty cents ton in the price of coal. which,
he said. had cost the people $4,000. 1000.
Simpson, Populis) of Kansas seized on
this statement and asked Adams who this
loss fell on. producers or consumers.
"On the miners, the holders of railroad
shares, etc." replied Adams.
THAT'S what l wanted to get at" said
Simpson.
"The gentleman speaks for class"
continued Adams. LEGISLATION should
be for the bene fit of all-capitalists, miners
and consumers alike"
"As the consumers are so much more
numerous than the producers" said Simp-
SOD, 'the decline in the price of coal Is
benefit to the country"
How about the decline In the price of
wheat? Does 1t not benefit the con-
sumer?" asked Adams, turning inqusitor.
at ought to under proper conditions"
responded Simpson, 'but under the pres
ent system after wheat gets through the
milling and railroad mouopoies the con-
sumner gets no benefit Of the reduced price
of wheat"
When Adams concluded the committee
rose. At 4:45 P. NJ. the House adjourned.