The Louisiana populist. [volume] (Natchitoches, Natchitoches Parish, La.) 1894-1898, 1895-02-08
SAYS JONES, SAYS HE.
The Arkansas Statesmans scheme
To Further Enlarge the power
of Banks.

ial. There was an exciting time
in the Senate on Wednesday. II
had been whispered around the
Capitol the day before that the
next move in currency legislation
would be taken in the Senate, and
all the newspaper men were on the
qui vive. More than score of
them came to me to ask what was
TO be done, some called at my
boarding house to make inquiries,
but told them that | was not fur
nishing news for goldbug papers.
Early in the morning Senator Tel
Ter called to me on the avenue and
asked what they were going to do.
We had quite a long talk for q
street interview. fIe said lots of
things mot for publication" and
some that were. Among the latter
was the statement that as soon as
the scheme, what ever it was, came
before the senate, he should boldly
announce that ''the bill shall not
pass in this session." Then he
went on to say that he thought the
people would have a better chance
in the next congress than in this.
Now not one of the so called sill
yer democrats could be relied upon
to fight, but in tie next congress,
when the republicans were in pow
er, they would help. Democrats,
when in a minority, he said, made
very good reformers, but when in
a majority, they were worth moth
ing at all. Senator Teller thought
that the FIVE silver senator's and
Populists could beat the bill in
this session, il the goldites and
silver democrats did not all unite.
When the senate convened, tine
gallaries were packed, and Jones,
of Arkansas, took the floor and
introduced his long-looked-for
measure. This bill has been in
formally under discussion ir the
senate finance committee for the
last three weeks, and senator
Jones has repeatedly said that he
would not introduce ii until he
was certain that it would pass.
That Is what gave importance to
the occasion.
Contrary to the usua custom liz
introducing q bill, he had it read
i'll full, and made short speech in
favor of it. The bill provides for
the issue of $500, 100000 thirty
year bonds, national banks to issue
to the full amount of the bonds
deposited, taxes to0be reduced to
one-fourth of one per cent, and
one-half of the bank reserve to be
bonds. The secretary of the treas
ury is directed to redeem and can :
Gel and not reissue the United
States and treasury notes when
ever and as fast as the aggregate
circulation of United States legal
tender notes, treasury notes, silver
certificates and national bank notes
shall be in excess of the aggregate
amount of these forms of paper
money in circulation at the date OF
the passage of the act, and silver is
to be received for coinage at the
mints at its bullion value in Lon
don.
There was breathless attention
while Jones read and explained his
bill, and the senator's crowded IN
from the cloak rooms and filled up
the seats. As soon as Jones stop
ped, and in fact before, Stewart
was on his feet, his eyes flashing
IS he walked down the middle
isle. He said:.
81 only speak of one provision
of the bill, that $500, ,O00, 900 of
bonds to be taken up by the banks
and the banks to receive par for
their bonds in paper would ope-
rate in this way; One hundred
thousand dollars of bonds would
be deposited and 100000 would