New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-19
IN AND OUT OF CONGRESS.
FOR A UNIFORM STANDARD OF VALUE
IN TRADE AND COMMERCE.


PRESIDENT SCRYMsER REPLIES TO GENERAL
WAGER swAYNE-A GENERAL DEFICIENCY
BILL OF OVER ssooocOo-MR ECKEIs
BEFORE THE BANKING AND
CURRENCY COMMITTEE
| Washington. Feb Is-The House Foreign Affairs
Committee to-day heard arguments BY Representa-
tive Beach, of Ohio. a resolution offered by him
last month requesting the President 10 enter into
negotiations with the governments of China Japan
the several republics and colonies of the American
Hemisphere. the Hawaiian Islands and the Domln-
Ion of Canada with view TO securing a uniform
standard of value In trade and commerce" Mr..
Beach began with the assertion that any amicable
and fair treaty relation between Powers establishes
a bond of friendship and confidence. The American
manufacturer and producer. he said. are to-day
keenly alive to the necessity of having foreign
market. The system of exchange, heretofore and
at present being conducted almost entirely through
London. is great embarrassment to trade rela-
lions with these countries. The scheme as pre-
sented in a plain manner Is 10 provide coin OF
commerce. 1t Is a coin which will not be popular
for general circulation 1t will not be received In
minor affairs in any part OF the world. MY idea"
he continued. lis that this coin should be a silver
coin. and that In adopting 1t the present and pros
pectve commercial value of silver should be
sidered II is not intended to be legal tender In
This country. and probably would not be made
in any other country. 1t is simply intended as a
1901 or commerce. with the idea that between such
countries may enter into this agreement more
cordial trade relations will he established. AS
secondary but very important consideration. |
think such an agreement would create a very i'm
portant demand for United States silver" Mr..
Beach Will continue his argument before the COM
mittee on Thursday next
James A. scrymser president Of the Pacific Cable
Company. has filed with the House Committee
Interstate and Foreign Commerce reply to testi-
heretofore before
General Wager Swayne, in which General Swayne
referred to persistent calumn!es' which had fol-
lowed his company since Its organization. Mr..
Scrymser quotes General Swaynes testimony be-
fore the Senate Committee Foreign Relations
on February %, 1896. a for much Of his
joinder. and refers in addition TO extracts from
Mr.. Hewitts letter to Mr. Bayles, vicepresident Of
the Pacific Gable Company. in support of his own
assertions. He firmly contends for the correctness
of his charge that there is a strong English infu-
ence behind the Spaulding scheme. and quotes in
support of his assertion words uttered by General
Swayne and Mr. Hewitt. supplemented by
tracts from a speech by Sir John Pender on April
3d. 1894 wherein the following sentence: II
am quite satisfied there is no immediate prospect
of contracts being inquired for in connection with
this Pacinc cable. but when they are you may de-
pend upon II that shall take care that know all
about the matter" In view Of the statements TO
which Mr.. Scrymser refers, that gentleman
spectfully asks If his charge that there Is a
strong English influence behind the Spaulding
Intense
by Mr.. Scrymser in his letter to the committee
He criticises as malicious the character OF Cen
Scrymser says that they are statements Of a kind
with which Congress should never have been trou-
object has been TO destroy in the minds OF Con-
gress and the people confidence in the good faith Of
the Pacific Cable Company of New York, of which
am the protector and president" --.-.lf
The resolution before the Senate Committee on
Military Affairs providing for the presence Of the
NaC nofn fhA tho,
TO make little Roadway. The subject brought
up this morning. but no action was taken The
committee appears TO be about evenly divided. but
special meeting TO be held next Monday He has
been in communication with the railroads for the
the boys He has been successful IN this. and be-
lieves that the committee Will eventually order a
favorable report.
The General Deficiency bill. presented in the
House to-day carries appropriation OF &i3S. 937
divided follows: State Department. $500
Treasury Department sl.56s,s73; Fish Commission
sl4.S99; Smithsonian Institution. 1907; District OF
Columbia 81 as; War Department. 81. t66 1879; Navy
Department of Justice 81 1923; Postofice Depart
ment. "a out of postal revenues. s764 526 Gov
sentatives. s3o57si; Judgments United States
courts s29O35; judgments Court Of Claims. 9l6
judgments. Indian depreciation claims examination
of. sl3S.s1 audited claims. SASS.
Controller Eckes was before the House banking
Currency
general banking bill introduced by Mr.. Fowler
REP ~ j. was taken up. Mr. Fowler asked
Mr. Eckes If a credit currency based on the
sets of banks not the only correct form OF
paper money. Mr.. Eek is thought this proper
form. The currency should be unform-all OF II
being issued under Government supervision. He
thought the benefits to be derived from the repeal
of the 10 per cent tax on State banks greatly ex
aggerated by the supporters OF this proposition.
Mr. Fowler asked Mr.. Eckes II he thought that
all banks under this bill having power to take ont
currency equal to bonds held by them. with low
tax on their circulation, and the right to issue
credit currency. would organize. Mr.. Eckels re-
piled that he could not say. The banks would do
what would allow them make the most money. |
II they thought it would pay they would take adj |
vantage of IT, Replying to further question. he |
said he thought 1t advisable to take the financial
question out Of politics. Mr. Fowler asked If the
witness did not think that the supervision OF the
co1ntry's great financial interests should be left |
to a consulting board rather than TO one indi- |
yiduaL Mr. Eckels replied that he saw no objec- !
ton allowing the officer In charge OF me hnnnCes
TO consult others. but he was not a great believer
In divided authority. II was more essential TO get
II the proper law was secured one not 100 COM
plicated one. two or three persons could enforce |
Fowler asked If Mr.. Eckes did not feel that he |
was more efficient to-day and better aple TO al. |
M time Of entering the office. Mr.. Eckes re-
piled that modesty prevented nm poW FCwnI
Nj Eckels discussed the causes OF bank failures !
here and abroad.
The President to-day sent TO the Senate the fol- |
lowing nominations: Thomas william refers or !
the District Of Columbia to be United States Consul
=, plouen Germany Passed Assistant Surgeon !
r cvd W Curtis 10 be surgeon in the Navy. First |
Jieutenants r. b. Turner. 9Th Infantry; Daniel A
Frederick. 7th Infantry, and Edgar Hubert stn In
fantrv 10 be captains: Second lieutenants y =
VIA i7th Infantry: w O. johnson. 18th Infantry.
and James r Lindsay. lith Infantry TO De hrst lieu.
Aiexander r. Ovenshine. 21st Infantry ana ROBERT
Fieid 9Th cavalry and Corporal Henry T. Games
,th Cavalry, be second heuten8hts
Another amendment 10 the already oVerioadeu