The times. [volume] (Richmond, Va.) 1890-1903, 1895-01-05

place on the bench OF the Kentucky Sourl
OF Appeals on Monday next.
The committees having been called ior
reports. Mr.. Springer moved that the
House proceed TO the consideration ol ,ao
currency bill In committee OF the who'e-
This was agreed to, and Mr.. Richardson
CTenn.) resumed the chair.
The debate on the currency bill whicn
followed was. in some respects the most
notable and interesting that has occurreu.
The speeches of Messrs. Dingley, ol
Maine and Hepburn, of Iowa, were sis-
nificent, in that they were taken 10 eA-
press the purpose OF the Republican ma
iority i'm the next Congress to proceed al
once upon its assembling to the prepaia-
ton of n revenue measure winch Wni'
in their opinion, provide enough money 10
roaet the expenses OF the Government.
Nothine short of that, according to ther
statements will be sufficient TO remedy OF
ran,ove the evils from which the Treasu-
,v and the whole country Is suffering
Afr Hepburn would also go further anu
nroceed 10 legislate for a more general
nee and coinage of silver. but Mr.. Ding
lev was silent on that point.
VOICE OF A NEW YORK REPuDLIcAN.
REPRESENTATIVE Hendrix, OF New YORK
also made a notable speech. He SAID the
nose which it was sought to ehecI was
Concerned. The new year opened, he said,
1-itb a fear generally prevailing among
,ha reonle of the country that the hoN-
eminent could not maintain on p@i'S
with gold the volume OF the otner ou
-. circulating among them. lie was
20 ,ba oninion that IL could do so, now
ever and the best proof OF IL was iouii1 ',1.
I'm the fact that it had done So Butts, buI ''te
largely depended upon the arrahseinens
whether or not the Government proposo"
a.. ,otire from the business of issuing cir
culating notes. 49,. ..,o,,osstons
,no, tho gold reserve through the medium
~ demand notes, and said that so lohs
as tbere was a margin OF one-eighlh vi
ore ner cent. TO business men III cum
Suc,ing the transfer OF gold from TINS
country TO Europe so long would they
engage in il. He was glad 20 Rho" lhit
u had been made part OF Democratie
pollcy from the highest sources Oh Iedu-
ership TO take the Government out OF the
business of issuing circulating notes, as
II had been taken out OF the silver busi-
ness But was there a successful appllca-
tion of this principle, as set out III the
pending bill, asked Mr.. Hendrix. lie
thought not. The bill would not relieve
the Treasury of the aggressions upon
the gold reserve And 1t would ran as
a banking measure. because II seeks TO
superimpose upon the Government credit
currency a volume of bank credit cur
rer,cy. with no sufficient redeemer in sill
yer. Debt hiding is not debt paying. The
wisest. cheapest and particularly almost
the only thing left for the Government
to do is 10 retire and dispose Of the de-
mand notes through which the gold re-
serve is open TO the aggression OF any
one who is inclined TO attack II. Upon
commerce should be thrown the burden OF
providing the gold with which to settle
it's balances in international business.
The bill pending before the House. said
Mr.. Hendrix, although it was great
Improvement i'm its particular condition
over the measure originally introduced.
would not relieve the Treasury. nor would
il provide such a currency as the coun-
try ought to have. If the principle laid
down by the President and Secretary of
the Treasury, and which Is feebly and
apoloSetcally EXPRESSED in tire ninth Sec
fion OF the bill, can be carried out, Con-
gresS ought 10 DO ia
OTHER SPEAKERS.
other speeches We're made by Messrs.
Caruth Dem, KY and Gresham Dem.,
TeX) in favor of the bill. Mr. Sperry
Dem, CO gave notice Of substitute he
intended To Offer and Mr.. Walker CRep.,
Mass) presented two additional sections
to his substitute. referring the payment
of customs dues in part in gold for Il
certain period and authorizing the Sec
| retary OF the Treasury. to sell 3 per cent.
bonds TO cover deficiencies i'm the Treasury
and to maintain the gold reserve.
Mr.. Sperry's substitute authorizes the
issue of per cent bonds to run ten or
| thirty years, To an amount not exceeding
| the aggregate of all United States notes
| outstanding, and with the gold obtained
| from the sale Of the bonds to withdraw
| the United States notes.
At . O'Clock the House took a recess
| until S O'clock. the night session TO be
for the consideration of a private pension
| bill.
At the evening session about forty
| members were present. In committee Of
| the whole they acted upon and ordered
| favoraby reported l. the House Tor pas
| sage thirteen private pension bills and
| bills 10 correct military records. At 1879
| o'clock the House adjourned.