Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1895-04-04
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dollars with which to meet the de-
ficit and would have converted one
hundred and fifty millions of coin
certificates into silver certificates as
rapidly as they were redeemed, The
house OF representatives considered
the Carlisle bill for about ten days
and then summary disposed of it.
This bill was conglomerate measure
intended to revive state bank cur
rency, reorganize national banks and
retire the greenbacks, 1t was not as
favorable a bill as the national banks
desired, it contained restrictions to
which state bank advocates objected,
aud yet was liberal enough to state
banks to frighten the opponents Of
wildcat currency while it aroused
the opposition OF those who believe
that all paper money should be- issued
by the general government without
the intervention of banks Of any kind.
The house had scarcely cast aside
the Carlisle bill before it was called
upon to consider the Springer bill
which authorized the issue Of some
is doubtful whether any economic
question has ever been so thoroughly
debated since the foundation Of the
government The passage of the re-
peal bill grattied the cities and an
gered the country, The repeal Of the
purchase clause of the Sherman law
was followed by bill providing for
the coinage Of the sOignorage. This
bill passed both houses 10y a consider
able majority but was vetoed by the
president The presidents veto was
accepted as a notification that he
would permit no legislation friendly
10 silver during his term. and did
much to arouse the opposition to him
IN the democratic party which has
continued to grow ever since. The
seignorage bill would have given the
treasury more than fifty millions Of
five hundred millions of gold bonds
for the purpose OF retiring, green
backs and treasury notes. After
spirited discussion Of a few days the
house voted down the Reed substitute
prouiding for coin bonds, defeated an
amendment reaffirming the,NIatthews
resolution, rejected a substitute en-
bodying the Carlisle bill, and finally
defeated the Springer bill by nearly
fifty majority. As soon as the action
of the house was known the execu-
tive concluded the Rothschild and
Morgan agreement and asked con-
gress second time for authority TO
issue gold bonds. The Wilson reso-
Iution granted this authority, but the
mouse rejected it after one days de-
pate, This ia the record of the house
on the money question. 1t has placed
itself at different times upon nearly
all sides of the financial question,
and has in turn pleased and displeas-
ed all elements. The senate has been
more favorable TO silver than the
honse has shown itself to be and the
silver strength will be further incres.
ed in the senate during the fifty
fourth congress. 1t is too soon to
speculate about the attitude Of the
next house Of representatives on the
money question. 1t may possibly be
less friendly to silver than the pre-.
sent house, but an approaching ma
tional convention will probably lead
the majority in the house to avoid the
money question as far as circum-
stances will permit.
The hour of dissolution is at hand,
the fifty-third congress will soon
be dead. Let us hope that the words
OF Antony may not be true Of this
congress. Rather let us hope that
the good which it has done may live
after and that the evil it has done
may be Inferred with it's bones.
w. j. BRYAN.
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