The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-12-17
HOUSE PROCEEDINGS.

secretary CarItSic's KcpOrt-EftOrts TO
Solve the Fin,ncin, "robie-u.
Washington. Dec. 1.-THE session OF
the house to-day lasted an hour and
forty minutes, and was devoted chiefly
to routine business. Delegate Finn, Of
Oklahoma, offered a resolution, which
was adopted, calling on the secretary
of the interior for reasons why that
officer has not in accordance with law,
thrown open to settlement that Wichita
Indian reservation, in Oklahoma, and
inquiring whether any Of Secretary
Smiths relatives were interested in de-
laying the time Of its opening. He Sc
yerely criticised the secretary for his
dereliction in executing the laws of con-
xress. and asserted that there never
was a secretary of the interior since
the foundation of the government who
had devoted less time to his public
duties than Secretary Smith, who he
said. was "parading around the coun-
try changing his mind on the money
question"
Unsuccessful attempts were made to
have printed in the record various
memorials and petitions on the cuban
and Armenian questions.
Messrs. Bull, (Republican. Rhode
Island) and Cobb, Democrat, ,MissourD,
were appointed additional members OF
the accounts committee.
scct etar, Cariis'c's Report.
The annual report Of the secretary OF
the treasury wes received.
7, referring to the national finances
the secretary said:
toward a COM
,,eta restoration of confidence and pros
perity is seriously impeded by the defects
in our currency laws. Our past experience
with the United States notes and treas
ury notes has cleary shown that the pol
lev of attempting to retain these onNF'-
tions of the government as a part OF our
circulating medium. and to reoeem tnem
in coin on presentation and reissue them
after redemption, must be abandoned, or
that such means shall at once be provided
as will have a tendency to facilitate the
efforts of the secretary to- accumulate and
maintain a coin reserve suff1cfent IN
amount to keep the public constantly as
sured Of the stability Of our entire volume
OF currency and our ability at all times
TO preserve equality in the exchangeable
value of its various parts.
1.-THE issue Of bonds to procure coin for
the reserve, which Is the only effectual
method now available under the law. will,
unless the conditions which have already
been developed by the present policy are
radically changed, ultimately result in the
creation Of a public debt much larger
than would be required to retire and can
cell all the notes and the interest charge
will be much greater than II would be nec-
essary to incur on q new class Of bonds
adapted to the present circumstances OF
the government and the well-known pref
erences of investors.
EFF however, an attempt IL to be made
to keep the United States notes and treas
ury notes permanently in circulation by
reissues after redemption and the gov
ernment is to be permanently charged
with the duty Of sustaining the value OF
nj! our currency, paper and coin alike,
the conclusion cannot be avoided that the
policy Of issuing bonds for the accom-
Dlishment Of these purposes must also be-
come permanent, and such additional
powers must be conferred upon the secre-
tary as will enable him to execute the laws
relating to thes subjects with the least
possible disturbance OF the business af-
fairs Of the people. and the least possible
charge upon the treasury. I am thorough
sv convinced that this policy ought not
10 be continued. but that the United States
and treasury notes should be retired from
circulation at the earliest practicable
day. and that the Government should be
wholly relieved from the responsibility Of
providing q credit currency for the pso-
ple."
The remedy which Secretary Carlisle
propeses for the financial ills ID thus Get
forth: There u but one safe and effec-
tunl way to protect our treasury against
ehese demands, ana that II to retire and
eancel ths hots9 which constitute ths