The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-13
GOLD BUG SCHEME
It is to Retire the GreenbacKs
From Circulation.
SAVERS FIRST EXPOSED 1T
\. c. OFFICE-SEEKER DIDN'T
HAVE MONEY TO GET HOME.
PRES. M'k,NLeY'S GENEROSITY
He Ran His Hand Down u lis Socket
ard Gave the Tar Heel Bill
Senator Pritcharo's
Bill.
SAVERS FIRST EXPOSED 1T
PRES. M'k,NLeY'S GENEROSITY

Washington. ID. c.. May l2.-(SpeclaL)
Chairman Dingley. of the Ways and
Means committee. in and unguarded mo-
ment unwittingly gave away the scheme
of the administration as en-
bodied in the bill to tax
the people into prosperity. lie has
admitted what Congressman Joseph ID.
Savers. of Texas, charged on the floor of
the House when the tariff bill was under
discussion that the sole purpose of Mr..
Dingley to raise $113,00O,OOO of addl-
tional revenue by excessive taxation SoO.-
100000 of that amount being in excess
of the needs of the government was to
retire the greenbacks, Chairman Dingley
at that time did not deny that Mr.
Sayers's assumption was correct, and the
statement of the gentleman from Texas
which had gone unchallenged up to the
present time, has just been confirmed by
Mr.. Dingley as stated above. The large
revenue. which the proposed new tariff
is to yield. and the surplus which it will
create is to be used for the retirement
or rather withdrawing from circulation
of the greenback, which was denominated
as that "endless chain" by ex-Secretary
Carlisle. The administration will not, if
it can help itself. redeem the pledge made
the people last. November to reform our
financial system. On the contrary, it is
now trying to spread the tariff over that
question by creating a surplus to be used
as aforesaid to keep the greenbacks in the
Treasury. In the opinion of the admins
tration the gold reserve can be kept in
tact only by the retirement of the green
back. OF course this is absurd The Re-
publicans in the House and Senate know
perfectly well that a bill to retire green
backs would stand about as much show
of passing as Grover Cleveland does Of
becoming the next President of the
United States. The law requires that the
greenback when received shall be reis-
sued in order that the currency shall not
be contracted The administration,
however, propose to evade this law
through their tariff bill. Whenever
greenbacks are received in the Treasury
and there is a surplus on hand, the
greeHbacks are to be made a part of the
reserve and thus there will be a gradual
contraction of the currency. The advo-
Gates of the National banking system are
said to be heartily in favor of this
scheme. Perhaps at some future Reform
Club dinner our worthy ex-
President. Grover Cleveland, and
his mugwump worshippers, may
take occasion to shrek out
in thunder tones that the Republicans
deceived them with false promises.
Senator Pritchard has made himself
popular with the working class here in
Washington by the bill he introduced
some days ago to reduce street car fare
in the District of Columbia to three cents,
and providing transfers on all lines. If
this were done, it would allow passengers
to ride about sixteen miles for three
cents. This will be good news to the
many weary pilgrims who will visit
Washington in search of Office during the
next three years. 1t may be said, how
ever, that unless the Senator makes a
persistent fight for his bill, it will never
be reported from the committee as the
railroad influence around the capitol is
very insidious.
Here is a story I heard to-day in the
cloak room Of the House. A certain Tar
Heel Republican,, Mr.. Blank, who is af-
ter consularslip, called at the White
House the other day and saw the Presi-
dent. He was very earnest and desired
to know what he could expect. After pa
tiently listening to his appeal, the Presi-
dent informed Mr.. Blank that he might
as well go home, that the class of posi-
tons that he, (Mr. Blank,) sought would
not be taken up for consideration for
some time, probably not until the tariff
bill had passed. To this advice Mr..
Blank is quoted as saying II would be
only too glad to go home, Mr.. President.
but l have not the price of the railroad
fare" President Mckinley, who is noted
for his kindly and generous impulses.
fshed down into his vest pocket and
slipped a bill into the not unwilling hand
of the Tar-Heel Republican. This is a
pretty good hard luck story. / dare say
there are not few office-seekers now
here in the same position of Mr. Blank