The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-04-09
Senator Turpie Advocates Mr..
Calls Resolution.
IN A SARCASTIC SPEECH
Senate's Cuban Policy Severely
Criticised.
SHERMAN AND LODGE RIDIcULED
MIR. Turpie Declared Himself in Favor
of Intervention on the Side of
Cuba Solely for the Sake
of Eraedonn
of Freedom.

OF TFEGuOEHa
Washington, April 8,-Senator Tnr-
pies speech on Cuba was the event Of
the day in the Senate, and in many re-
spects it was the most picturesque and
vehement utterance heard on that sub
iect. The Senator had an inexhausti-
bic vocabulary, and bitterly satirical
style While arguing for radical action
fleet to Cuban waters, much of Mr..
Turpie's speech was given to sarcasm
and ridicule of the course Of Mr.. Sher-
man and Mr.. Lodge, in managing the
Cuban resolutions. The Senator Gre
ated much amusement by his graphic
portrayal Of Senator Lodge as war
rior about to fight duel with Minister
Dupuy de LONE, of Spain.
Most of the day was given to the In
dian Appropriation bill, which was not
completed
Unanimous consent was secured for
taking up the resolution for a Senate
inquiry into recent bond issues next
Tuesday.
came up on Mr.. Teller's request that
a bill requiring banks to keep their
reserves in their own vaults be re-
ferred to the Committee OF Finance.
Mr.. Teller said there was congestion
Of money in the large eastern cities
growing out of the fact that the law
permits bankers to keep their reserves
in New York city, drawing interest
and thus taking the funds from local
use. He regarded this as very detri-
mental. Last September 500, 100000 OF
this money was tied up in New York Tt
tended TO increase speculation He
was informed that rs per cent OF these
funds were used in stock speculation
and not in legitimate business. He
urged the Finance committee to ad-
wise some method Of reform.
MIR. Hoar (Rep., Massachusetts,
agreed with Mr.. Teller that a reform
was necessary. Since the National
bank law went into force the practice
had grown up of having outside banks
deposit their reserve funds in the large
cities in order to get the interest It
prevented the former reciprocity of
interest between the local borrowers
and the local banks The borrowers
now dealt through brokers who dealt
with the large cities Gradually, said
Mr.. Hoar, we were building UP two
huge combinations--on the money
borrowers and the other the money
lenders.
In case Of paying the whole structure
would tremble as though a nerve had
been touched. In his opinion the
banking law should be amended SO as
to prevent the payment Of interest on
reserve deposits in all cases.
Mr. Morrill,, chairman of the Finance
committee, said both the Senators
were mistaken as the banks of standing
did not pay interest on reserve de-
posits.
Mr.. Hoar insisted that they did and
cited the Boston banks, which, he said,
paid per cent on outside deposits.
The bill went to the Finance com
mittee.
Mr.. Turpie (Dem., Indiana) was then
recognized in support of the joint reso-
luton of Mr.. Call, for the sending OF a
United States fleet to Cuba, to protect
Americans and to prevent Spanish
barbarities. Mr.. Turpie said this
resolution was full of meaning, con-
sidering the remarkable change Of
front of the chairman OF the commit
tee on Foreign Relations (Sherman),
and the Senator from Massachusetts
(Hoar) in their conduct of the Cuban
campaign. This resolution proposed
to send a United States naval force to
Cuba. During the Chilian trouble our
fleet was sent to Chilli and exercised a
most salutary influence. And, now, on
tbe same errand and with the same
purpose. a United States feet should
proceed to Havana.
This resolution was the natural out
growth Of the inertia, inaction and OBJ
struction OF the chairman OF the COM
mittee on Foreign Relations, (sher-
man) since he took refuge ID the crypt
OF a conference committee. Mr.. Iur-
pie severely criticised Mr.. Sherman's
abnormal proceedings i'm handling
the Cuban resolution. He also referred
to the lingo jargon' Of Mr.. Lodge
gentleman who was able to clothe
an exciting question with all the dull
ness Of commonplace.
Mr.. Turpie ridicuIed the resolutions
offered by Mr. Sherman. These had
proposed ''interyention" but the honor
able chairman did not say on which
side we would intervene. It was not
by this remarkable document
we were to intervene to res
tore tho grasp of Spain on Cuba, or
in behalf Of Cuba to throw of that
grasp.
''When the time comes for interyen-
tion," exclaimed Mr.. Turpie, II am
for Intervention on the side Of Cuba
for the sake Of freedom and indepen-
denee and for on other reason" !"
The Senator said that the greatness
of a question was often obscured by |