The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1895-01-09

ing III lne wafer OF BuZZaros bay, Win PROS
perity hut cable length away
There was panic being precipitated by the
vultures of the banks, Sibley shouted. beside
which the last panic was gentle zephyr 10
shrieking cyclone He had figures which he
had prepared last June, and which at the
solicitation of friends he had refrained from
using, showing that banks and trusts could mol
pay 80 cents ON the dollar. The adminlstra-
ton had so carried out the declaration that the
parity OF all kinds of money would De main-
tanned; that all other kinds but gold had De-
come mere promissory notes for payment OF
the gold. Speaking of his Democratic pflncl-
pies, Sibley said that II he got into what ne
supposed was a mahogany wagon and found II
was veDeered Eastwood being driven over 8
rocky road by an inexperienced driver he
would Jump out and wOuld not care much
where he landed.
He drew picturesque sketch OF Democrats
sitting around banquet-hals:o Tonight, worship
Ing at the shrine OF Andrew jackson ana Talk
Ing theories as different from his as tne throne
OF hades from the fruit of the tree oil lie. ana
II Andrew Jackson's spirit were 10 appear II
would, he concluded, kick over the table and
bauish those apostles in disgust.
Cox CD OF Tennessee followed WIN careIui
argument in favor of the bill. lie pointed out
the many evils Of the present system ana ex-
pidihCu dt iCuBtu MS VIEWS Va VIZ aS'N''' - s1N
Carlisle plan if put into operation.
Stone tR1 of Pennsylvania did not think the
pending bill would relieve the treasury situa-
ton, nor did he In fact believe that the retire.
ment OF all greenbacks and treasury notes
would check the demand. Ii gold was required
for commerce gold would be secured, II BOT
from the treasury then from private nolders'
There was no reason why there should De
scarcity of gold. The difficulty now was mat
the Democratic party was too cowardly TO
meet the present growing deficiency by autnor-
izing the issue Of low-rate bond TO TIDE over
the present emergency.
johnson 3D. OF Ohio followed with caustic
speech IN opposition 10 the measure. he SAID
he thought he owed an apology TO the public
for speaking against a bill which was dead as
this was. He denied that this Dill was designed
to take the Government out OF the banking
business, and asserted that no bill could be de-
vlsed for sound currency issues winch would
not place them under Government supervision
and in effect make them alternately redeem
able by The Government 1t MAS the ONCE OF
the Government 10 furnish money. 1hls Dill
proposed to confer on banks, without limit, a
right that could only be conferred as mo-
nopoly, 1t gave them monopoly or 1t was a
failure. He attempted TO demonstrate that the
bill would confer the same monopoly on the
banks hat the Bank OF England and the Bank
of France had. This was true because the
greenbacks and treasury notes on which circu-
lation could be taken out were limited in num-
Der. There was but $475,00000O of these
notes. When they we're deposited for circula-
ton the monopoly would be complete. john
son sketehed a scheme by which dishonest
man, entirely within the terms OF this bill,
could make $50, 500 In two weeks by starting a
bank.
J. FIa latr
asked Springer.
mo. sir" replied johnson, "because he
must deposit $4,000 worth OF bonds to get
$4,000 in circulation"
"COuld not the Canadian banks perpetrate
the same frauds asked Springer. returning TO
the ASSAULT.
mo-" replied johnson, because the Cana
dian system is a Government monopoly"
Morse (R.) OF Massachusetts made a brief
speech 10 opposition to The bill, and then
Bland, the leader OF the silver Democrats Of the
House. took stand against it. He spoke with
great feeling. This bill, he declared, was an
attempt TO lemporize with great issue. He
called attention 10 tbs Democratic platform Of
1892, The pledge 10 settle the financial question
on the lines Of blmetallism. He traced the
course OF those who he alleged were carrying
out conspiracy-frsi. the repeal Of The silver
purchase law, and now the contamination OF
their. plans. Bland predicted II this bill became
a law that greenbacks would disappear, and TO
secure the gold standard silver would be en-.
tirely eliminated.
In conclusion Bland protested against the
BILL in the name OF outraged Democracy.
"Neitber this House nor this administration is
the Democratic party" said he, 'and appeal
to the masses OF Democracy TO reOrganiZe on
the lines Of the principles OF Jefferson and
ia cksOn." [Applause].
Cotfeen 3D. of Wyoming concluded the de-
bate for the day In opposition to the bill, and
at O'clock The House took a recess until
O'clock. when, under a special order OF yester-
day, the bill prepared by the Pension Commit
tee for the modification of the pension laws was
formally read.