St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-01-05

tons. Any one. Mr.. Hendrix said. who
would glance at Ibe frank statements
OF the treasury showing its small Te-
serve could not bat marvel that II had
not been sooner confronted with great
peril
Mr. Hendrix described at length the
process by which the gold was with
drawn by spectators for shipment
abroad. and then proceeded TO contrast
this With the situation Ii France, where
the Bank OF France refused 10 pay, eX-
eept where actually necessary, more
than 5 per cent OF gold on It's demand
obligations.
Mr.. Sperry Dem. Conn., presented
his substitute. 10 fund the greenbacks
with per cent geld bonds. for the IN
formation of the house.
Mr.. CaTuth Dem, ky.) eul0giZed
Secretary Carlisle. and commended tie
efforts OF the administration TO solve
the currency problem ana relieve the
treasury, and indorsed the pending
measure.
Mr.. Carush yielded small portion of
bis time TO Mr.. Hepburn, formerly So
lcltor Of the treasury. VINO briefly re
Piled TO Mr.. Hendrix, whom he de-
scribed as seif.hefalded national
DaAACl " ilO GaA1C mere Will OEGGuAaI
utteTaBceS TO tell the house what to do.
Mr.. Hepburn said his self laudation
was impaired by the recollection OF hiS
speech sixteen months ago. when the
same conditions existed. Mr. Hendrix
then found the panaeea Tor all financial
Ills Ia Tie repeal Of the Sherman silver
law.
Mir. Hepburn declared that Mr.. Hen
dirk had pointed cut unwittingly the
remedy for the present evil when he
told the house that the great banking
houses Of Europe exercised their dis
cretion about depicting their gold
vaults.
why viii not TIE secretary OF the
treasury exercise the same diScretion?'
he asked amid q round OF applause.
The exercise Of this discretion did not
Impair tie credit Of European banks.
VINO dared to say that the credit OF this
country, with %, 000, 900 of people be
hiud II ana an unlimited taxing power
would be impaired because il refused
to kneel at the demands Of the Shy
locks. Applause.
why have not the Republican secre-
taTies OF the treasury exercised that
discretion" asked Mr.. Pence Pop.
Colo.l.
nave 4IOL UEE1i SCSI tdIN Dl AllSt S6S-
ury," replied Mr.. Hepburn hotly.
when l am | VIII answer. [ am as
fully convinced. however. as l am that
l am alive. that II the secretary OF the
treasury were now to exercise his dis
crerion and pay gold when Legitimate
redempti0ns were asked and refuse it
to sharks and psculators tie evils
from which we suffer would cease to
be-" Applause.
Mr.. Dingiey Rep, Me- placed the
necessity Tor remedying the defects Of
The currency system above the necessity
Of relieving the treasury. The treasury
had been living On hope for the last
eighteen months. ana there could be no
confidence until the revenue equaied
the expenditures. Mr.. Dingley asserted
that The pending bin would net relieve
the treasury.
Mr.. Gresham (Dem., Tex supported
the bill.
At the conclusion of his speech the
house, az ) o'clock, took recess until
O'Clock tonight, the night session TO be
devoted 10 private pension bills.
a fact worth digestiRg: During the
panic more of DR.. Prices Baking Pow
der was used than ever DsTore Why?
Highest ieavening strength and su-
pr5me purity make it the most scOlom- /