The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-01-04
IN THE HOUSE.
4 Day spent Discussing Financial
Sob sinss.

IN THE HOUSE.
4 Day Spent Discussing Financial
schsinss.
WASHINGTON, Jxn. 3.-The proceed
inge in the house today lacked marked
incidents OF any kind. The debstss on
the currency bill continued all DAY. but
were generally spiritlsss. and the At
tendance, which was large at the begin
ming, dwindled TO almost nothing. Tae
speakers today were Messrs. Black Of
Georgia, McCreery and Buckner Of Ken.
tucy in favor of the bill, and Messrs.
Haughey Of Wisconsin and Adams Of
Pennsylvania in opposition to it. No
other business was transacted.
The debate started sluRgishly. Er.
Black denied at the outset that the
banking and currency committee had
heard only national bankers while con-
sdering the pending measure, and bad
turned deaf ear to sll others. Hfe met
and 'psrried the criticisma and gave q
historical review OF tho financial doc
trines of Democratic presideAta from
Jefferson to Cleveland. Lsgj. lation had
not oaueed all tho misiortunes under
which the people were suffering, he
raid. 1t might have contributed to their
misforsuues, and he believed the passage
of the present bill would contribute to
thei- relief, but he deprecated the feel-
ing abroad in the land shat for all this
ills and misfortunes of the people they
should turn to congress. Blacks I'D vo
caey of state banks of issue was ardent.
but he concluded by expressing, siaid
applause, the opinion that the only real
function of the government was the
coinage of gold and silver.
Hsughen. Republican OF Wisconsin.
who followed. oppohed the measure. He
described the bill as q crude, ill-con-
sidered measure. fraught with dangers
to the country. At the conclusion Of
Haughen's remarks, McOreary, Demo-
crat of Kentucky. who was . member OF
the Brussels monetary conference. took
the floor in favor of the measure. He
said he had examined all the plans sug-
gestsd for reform of the currency and
he regarded the Carlisle bill. ~ amended
by tho Springer modification. % the
best solution of the problem offered.
He was opposed. he said, to funding the
ereenb backs with intcrsst-bsaring bonds,
He believed the banking business should
be divorced from the government; that
the green backs should be retired by the
surplus revenues 20 rapidly az possible
and that . safe and elastic currency
shou Id be provided. McCreary expressed
the opinion that in the event Of the
failure of some currency legislation at
this session s1oo. coo. 600 or $3.50. .0oo, 900
of bonds would have to be issued.
Adams, Republican of Iowa. opposed
the bill, attacking some Of its provisions
vigorously, especially the revival Of
state banks. While speaking Of the
depression in all enterprises, he referred
to the decline OF 80 cents per ton In the
price Of coal. which he said had colu
the people $2.000.000.
Simpson, Populist Of Kansas. ssissd
on this statement and asked Adams who
this loss fell on, producers or cons
eumers.
ION the miners. the holders Of Taibs
road shares. etc.," replied Adams.
That's what I wanted to got at.'
said Simpson.
"The gentleman speaks for class. !"
continued Adams. "Legialation should
be for the benefit OF all, capitalists
miners and consumers alike"
'As the consumers are so much more
numerous than the producers the de-
cline in the price OF coal is benefit to
the country" said Simpson.
GLOW about the decline in the price
Of wheat. Does il not benefit the con.
gunner ?" asked Adams.
Thought to under proper conditions"
responded Simpson. "but under the
present system. after wheat gets through
the milling and railroad monopoliss the
consumber gets no benefit OF the re-
duced price of wheat" When Adams
concluded the committee aroue and q
4 AS p. m. the house adjourned.