The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-01-18

enemy. Moreover, in spite of all the pnliti-
cal changes, it is today asserted that the
new senate will be even more strongly pro-
silver than the present one.
Senator Quay makes no secret of his in
tention to talk the appropriation for col
lecting the income tax to death single
handed and alone, or at least to talk till
the new senators to I'LL vacancies get here
OF the three from the now half represent
ed states we We're at first assured that two
would be goldbugs and one silver crank
next that one would be monometallist
and the other two moderate silver men,
but now it is given out that all three will
be silverites. The senator stands almost
alone, however, in his party on the propo-
sition to nullify the income tax law by
withholding appropriations. Such Repub-
licans as Sherman, Cannon and others Of
long standing experience protest that it
would be very dangerous precedent Mr..
Cannon says: THE Democrats tried it in
Hayes time, went just far enough to
rouse anger and then backed down. If we
begin it-well, the Democrats have never
been backward in adopting our worst prec-
edents, and l fancy they would be like
that fellow in Shakespeare who said, The
villainy you teach me l will execute, and
it shall go hard with me but l better the
instruction.
1t is taken for granted, therefore, that
by the close of this session, if not before,
the government revenue will exceed it's
expenses and the house committee on ma
val affairs is figuring on a considerable
surplus by December This relieves the
Democrats of the heaviest pressure to
unite and pass bill and leaves them free
course to run and be damnifed. How
wildly they have run, and how scattered
and how changed positions, is shown not
only by the nine diverse propositions they
have had to consider and caucus upon, but
by the fact that so cautious and conserva-
tive an old southern Democrat as Judge
Culberson favors a plan which two years
ago would simply have annihilated his
party in the western states. He thinks all
the greenbacks and Sherman silver notes,
nearly $500, 0C0, 000, should be funded in 2
per cent bonds, which could be used as the
basis of banking. A unique plan indeed
Is that of Congressman Terry of Arkansas.
In addition 10 a tolerably libe;a banking
law, he would enact that any state or ter
ritory may buy silver bullion as cheap as
1t cen, bring it to the mint and have it
coined into silver dollars on state account,
provided that the amount in any one year
should not exceed 81 per capita of the
states population at the last census.
Mr.. Terry's Plan.
MY plan, said Mr.. Terry in the course
of lengthy talk, gets rid of all the su-
pcrticial objections TO the increased use of
silver. There is really nothing in most of
~ .a f., 81 Oh
er, but specifically and as presented 20
the people they have a certain force. Tn
der my plan the silver kings would not
get the benefit of free coinage, nor would
the increase be rapid enough to disturb
existing contracts II would supply more
money just about as fast as needed and, in
my opinion, would in time bring the two
metals TO a parity. While the process was
going on the people Of each state or terri
tory would get the benefit of the differ
ence between bullion and coin. Better
still, if the goldbug states disaproved of
the system they need rot so into it. Only
the states in favor of silver would then
have it coined on account, and the gold
bug states could cut down the increase
oneh half, if they liked l have no doubt,
however. that New York and Nassaohu-
setts would take the seigniorage just as
promptly as Texas and Colorado"
The genial Mr. Stallings Of Alabama
also has plan which lie thus sets forth
in conversation. for he has n0t thought il
worth while q put il in the form OF a bill;
Il start wits the proposition that the ns-
tional banking system is the best this
country ever had. and though a better
might be devised il would he impossible
10 Get il adopted. Furthermore, the 70
striction OF the issue 10 20 PEI cent OF the
bonds a. we'll a. the security deposit have
long been unnecessary. fer the bonds are
worth more than their face. and can
hardly conceive Of a condition in the flu
tire when they could not be immediately
sold 10 redeem the notes OF any failed
bank would. therefore. for the present
give the banks the right 70 issue the face
value Of the bond and in emergencies Ike
that of 1898 10 issue 81 per cent more, this
extra issue 10 be subject TO a heavy tax,
which would insure its retirement as soon