Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-01-05
government proposed to retire from the
business OF issuing circulating notes.
ATTACKS ON THE RESERVE

Mr.. Hendrix referred to the aggressive
ness upon the gold reserve through the
medium OF demand notes. and said that
SO long as there was a margin Of one
eighth or per cent. for businessmen In
conducting the transfer of gold from this
country to Europe so long would they en-
gage In It, He was glad to know that II
had been made part OF the Democratic
policy from the highest sources OF leader
ship 10 take the government out OF the
business OF issuing circulating notes. as II
had been taken out of the silver business.
But was there n successful application
or this principle as set out In the pending
Dill? asked Mr.. Hendrix. He thought not
Inc Dill would not relieve the Treasury of
the aggresslons upon the gold reserve,
ana IL would fall as a banking measure
because IL seeks to superimpose upon the
eovernment-credit currency volume OF
bank-credlt currency. with no sufficient
redeemer In silver. Debt hiding Is not
debt paying. The wisest, cheapest. and
almost the only thing left for the govern
meht 10 do is to retire and dispose OF the
uemand notes, through which the gold
reserve is open to the aggression Of any
one who is inclined TO attack II. Upon
commerce should be thrown the burden OF
providing the gold with which 10 settle
It's balances In international business.
The bill pending before the House said
Mr.. Hendrix, although IL was a great i'm
proVement In its present condition over
the measure originally introduced, would
not relieve the Treasury. nor would II
pfoVlne such currency as the country
ought TO nave. II the principle laid down
Dy tne President and the Secretary OF the
Treasury. and which Is feebly ard apolo-
| in he ,f -, e
the bill, can be carried out. Congress
ought TO do IL.
OTHER SPEECHES.
other speeches were made by Messrs
caruth Democrao. Of Kentucky, and
Dresnam (DemocraO. Of Texas. in favor
or the bill. Mr. Sperry (DemocraO. of
connecticut gave notice of q substitute
he intended 10 offer, and Mr.. Walker
Republcan). OF Massachusetts,, presented
two additional sections 10 his substitute,
providing for the payment OF customs
cues In part in gold for a certain period.
AM authorized the Secretary Of the Trea-
sury 10 sell per cent bonds 10 cover de-
hc!ehcies in the Treasury and to main
tain the gold reserve
Mr. Sperry's substitute authorizes the
Is sue OF per cent. bonds to run ten or
thirty years. TO an arnoun. not exceeding
the aggregate Of all United States notes
outstanding. and with the gold obtained
from the sale Of the bonds to withdraw
the United States notes
At o'clock the House took a recess
until O'Clock. the night session 10 be for
The consideration of private pension Bills
The Democrats Of the House will hold
their caucus at o'clock on Monday next
The call vas written to-day by Mr..
Springer, OF Illinois who baG tho CAR
Isle bill In charge. AMI II states that the
caucus Is called for the purpose Of con-
siiering the pending currency bill
CAUCUS-CALL SIGNERS.
AT o'clock. after the call for the
caucus had been circulated an hour. fifty
five representatives had signed it. The
hrst gentleman to attach his autograph
was Speaker Crisp. Following his name
were those Of the other Democratic MEM
bers OF the Committee on Rules and the
members Of the Bunking and Currency
Committee. from which it was reported.
Mr. Holman tonight issued formal
notice of the caucus.
Mr. Springer stated this evening that
general debate on the banking bill will
continue until the hour OF holding the
caucus Monday. on Tuesday the Commit
tee on Rules will bring in an order fixing
debate under the fve-minute rule for the
three days following. 1t is not probable.
however, that Il vote on the bill will be
taken before Friday next.
At the evening session about forty men,
bers were present. In Committee OF the
Whole they acted upon and ordered favor
ably reported 10 the House for passage
thirteen private-pension bills and bills 10
correct military records. At 1890 o'clock
the House adjourned.