New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-02-06

mittee on Public Lands reported and it passed.
a resolution directing the Secretary Of the Interior
to suspend the location Of lands under railroad
grants pending action by Congress.
The House then. under the rule adopted yester-
day. went into Committee Of the Whole on the Cur
rency and Banking bin. Before proceeding with the
discussion. unanimous consent was given 20 re-
quest made by Mr.. Springer dem, Ill) that men,
bers have leave to print or extend remarks in Tine
Record" There was a little delay in beginning the
debate which caused Nj Hatch Dem. MOI TO re-
mark that II the gentleman from Illinois chr.
Springer did not go ahead with the Dill ne
would move to recomnl; +. the Committee on
Banking and Currency. daughter
CHAIRMAN SPRINGER STARTS IT.
Mr.. Springer prefaced his remarks with the read
Ing Of the letter OF Secretary Carlisle. made pubic
Yesterday predicting a surplus Of so 3o%' IN 'he
opera lions Of the Treasury for the caehuaI year
1885 For the fiscal year ending June 80. 1872 t'e
Department. Mr.. Springer said. estimated " W
fclencv OF $40 )o00o in round numbers anu lo ''e
fiscal wear ending June 90, 1896. a surplus OF re-
cepts over expenditures of S-9WoeOV lie a'so SOW
the figures. by years of the movement OF so.' o",
| or the Treasury IN exchange for greenbacks ana
Treasury notes. and the exports OF god Inc o'-
n,and for gold IS growing month by moh'h' ana -
far this wear (seven months Il has taken So'V'WV
ont Of the Treasury. more than In any previous
wear The net exports OF gold for the same period
have been s7 600 ana total since the passage
of the Sherman act. s2socc00p The net loss ny tN-
port Mr. Springer said. had been made good by the
coinage Of the mint. within sl'GN@H. TO MI.
Simpson Mr. Springer said that the secretary az
the Treasury was not legally bound 10 redeem
Treasury notes in gold but morally bound TO
do so If he would maintain the faith and credit OF
the Nation. Continuing on this line. MI Springer
said that there WAS great difference between the
obligations Of the Government 10 It's citizens and
those OF citizen TO another in respect OF
the payment OF debts The Government had
made It's pledge in the repeal of the purchasing
clause of the Sherman act that It would maintain
all its money at a parity anu OF equal Ndlue AT al
times and places. SO that when creditor came 10
the Treasury with one of its demand notes for re-
de,nption and silver was offered to him. he had
perfect right to say that If the dollars were OF
the same value TO the Government. there could be
no objection to paying him in gold. No one was
damaged by that-it was simply CARRYING out me ~
this policy wanted 10 carry cut the contract on one
side; he (Mr. Springer wanted TO carry 1t OUT al
Mr Cox pointed out the provisions o. ine G.
which in his SIN mai he 9gans
surrenderng the control Of the currency Oh NE NE
COX proceeded to discuss the provisions Of a sub
stituie which. lac understood. would be ohere' LOT
Mr. Hall Dem MOI. member Of ne committee
S Believes t tha 'R Re bi could be- passed
| Mr. Swanson dem. Na) sad tina, The bill was
drawn on Republican lines. Regarding the taiIn
I they said Make things prosperous FOR the manu-,
facturer. give MIN big profits and ne VIII pay s1Ia
! nil said; Make il easy for the bankers get
money and they viii take care OF ,G So nr nrtn.
! c:ple Of protection applied T. finance. ne re-,
lie Where il belonged He had no criticism make
| upon the President for holding the views ne Iii'
bn; the Democratic majority OF the House. who,
! Twelve months ago would have passed a bill which
would dlssipate the dangers surrounding the Treas
the present bi it contained provisions which must
meet the commentator Of the RepuhMncan par:
sgans; the ressy T9 S n se Of 70 the e counTv was
J money redeemable in no;hing-silver
MR.. REEDS REMARKS.
Mr. Reed (Rep.. Me) said It was possible that
| the science of craftsmanship might be exhibited
in the bill under discussion but the art OF states
manshp certainly was not What VAS needed was
| a measure TO meet the Crisis u 'hefe
much a man might approve what vas IN the
BILL he said i vas The better part ior nm Inc, 20
| oppose and criticize IT y II contained ahHthlhe
| that in his opinion would prevent It's becoming =
Jaw II the President and the party in power h2d
| the treatment OF the situation vhich comsfonted
The conditions w9 b sas Ge Of
revenue to meet expenses would have. prevented
Mr. Reed said not the existence Of 500 800 40
demand notes, they mere a mere co Sasrello
pay The irst cause OF the trouble the passage
deficiency Of .07,c0coO in revenues. The next and
other cause was the MANAGEMENT OF the treasury
- r"venues drew upon he reserve OF the banking
department. instead Of borro"ing money on Us
own account 10 meet the demands upon H. Inc
President. in this exigency. has appealed to Con
gress Mr. Reed said and we are lase TO- face WIN
the situation. We are willing TO help our country
| irrespective Of party advantage; but II must be
p p'rh pr6per and honest TO meet the crisis it
| was not necessary TO engage In a genera system
| laton cannon be had at the demand Of any man
Such legislation is likely 10 rccevenecessary
ofe m to be pae H Even we're
/ IT to pass the House ne appealed TO MS audience
hfar AT
The cause Of the trouble. Mr Reed said, was due
deemed. together with falling on OF receipts
%r 'f Reed Nr quoted the hgGTes Of the treasury
These showed that since this AdminStraon came
resulted in the Government mt. being confronted by an
FOR which there is gold to meet them In view
OF what have met and vanquished in the mat,
| that is not what staggers US; that is due TO
mad rush OF the people to exchange greenbacks
for gold.
POINTING OFT THE REMEDY.
The remedy for the trouble was in his opinion to
eenarate the two departments Of the Treasury and
give to the business department sufficient receipts
TO meet the expenditures. There was in the ac-
complishmnt OF this, however he admitted. din
Guilty arising from the pride. he might call H. in the
present Tariff bill. To admit that that bill could or
sborld be changed would involve confession. and
confession might be suicide. G-aughierD Besides
ha' me a9hores Of The land For the next
years they comprise irrsinsHl anu neci'riy
Of the Treasury who have decided views upon the
subject The latter. with prescience when M
Reed said wished, for the sake OF siniui world
had not been complete daughtcr) had stated mat
the Treasury would enjoy "A surplus OF receipts
over cxDendtures In the present calendar year OF
zoo 5s3 n He was glad the Secretary ana not go into
cents for that mgnt have cast doubt upon me &c,
curacv of the calculation. SO, II the President ana
Secretary won't have additional revenue and say
,hey will have surplus the situation must be
treated on that basis. otherwise party icens would
be aroused and the House would come 70 no con
csion The proposition meet the difficulty which
MIR Reed had To make was tnat TO meet the de-
ncency IN receipts the Secretary OF me Iueasuly
should he authorized 10 issue per cent ceruicaes
Of ndebteiness in sums Of $50 or 500 and niiples
thereof leaving the gold in the banking department
untouched for the redemption % the Sreenbacks
This woud enable the people 70 determine whether
- No. hc,. rnallN Wanteh gold IN cNchaDsc IOr