Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1897-12-04
CURRENCY LEGISLATION.


New York, Dec. 4.-"What, In your
opinion, is the prospect of bankruptcy
legislation at the coming session of
the Tribune in Washington last night
of Gen. Henderson of Iowa. who is
chairman of the house committee on
judiciary.
ION Monday I propose to introduce
bankruptcy bill which will be sub
stantially identical with the one
pressed by the House Of Representa-
tives in the last Congress. There has
also been referred to this committee
special session. There will be meet
ing of the committee early in the week
and we will exchange views on the sub
ject and see what prospect there Is of
favorable committee action. Then
subcommittee will take the matter up
and frame q measure, either substi-
tute for the Senate bill or taking that
MS basis, and propose amendments to
It,"
do you think there is n strong pub
lie demand for such legislation"
asked the correspondent. Yes, | do.
and / believe there will be a strong
pressure brought to bear In favor of It.
Such legislation properly framed and
guarded is required In the. opinion of a
great many people besides myself, and
all for the same reason.
During the hard times of the last
administration thousands of men went
to the wall and their energies We're
bottled up who If they could find legal
release from the chains which now
bind them would again and Immediate
ly resume the activities of business
life and add immensely to the leverage
in favor of general business prosperity
They would be able to share In the
benefits of the tariff legislation of last
summer, and the country would be all
the better for it.
"And yet" continued Gen. Hender-
son "strong resistance will undoubted-
ly be offered to the enactment of such
legislation and no man ought now to
attempt to predict what the outcome
may be, so far as the coming session
Is concerned The most dare say Is
that my hope Is strong"
Representative Mercer of Nebraska,
who is chairman of the House COM
mittee on public buildings and grounds,
agrees with Gen. Henderson as to the
desirability of bankruptcy Legislation.
In conversation with Il Tribune COR
respondent Mr.. Mercer said:
ut is absolutely necessary, in my
opinion that Il bankruptcy law should
be enacted at the coming session. We
have thousands of men In Nebraska
who were damaged by the hard times
who will never be able to regain their
feet. financially speaking. until such
n law is passed. If they were released
from the b. den of Indebtedness which
continues u hold them down they
would at once engage in the activities
of business and not only be sharers In
but contributors to the prosperity
which the Dingley law is restoring 10
the country, not only by the direct adj
vantages 1t is giving to American
home Industries but by the hope and
confidence 1t has inspired throughout
the country. A good bankruptcy law
would be fairly supplementary to the
new tariff. because 1t would add to the
influence ut work in behalf OF the ma
tinoal prosperity"
Chairman Cannon. of the House APP
preparation committee, was found in
his committee room. In reply TO a
question as to whether the people in
his part of the country are In favor
Of bankruptcy legislation at the COM
ing session, Mr. Cannon said, mo, not
In the country districts. There is con-
siderable feeling in favor of It in Chi
cngo and also considera BILE opposition
to 1t, l understand 1t might per-
haps be a good thing to have a volun-
tary bankruptcy law, to expire by
limitation six months after its enact
ment.
what do you think OF theprospect
Of currency legislation" asked the cor
respondent.
"Oh what's the use of talking about
that in the face of the condition OF
affairs in the Senate? Why II the
House should pass a currency bill the
Senate would probably strike out
everything after the enacting clause
and send us a free coinage bill. What's
the matter with the currency anyhow.
IL we can collect revenue enough TO
lay the current expenses of the gov
eminent and have little let? So
far as the retirement of the green
backs is concerned | do not believe
that bill containing such a provision
could pass the House Of Representa-
tives.
Then why not let well enough
alone?
We've got to fight the free silver