The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-12-11

| 1t has been recommended by four pres
idents and five secretaries Of the treas
ury, and bills containing such provis-
ion have been introduced in congress,
and supported by members of both pO-
1iticaI parties. 1t is entirely consistent
with the present banking system The
same reasons which justify the issue of
80 per cent of the bonds will justify an
issue to the par value of the bonds The
only objection advanced. aside from
that of demagogic attack, generally, up
on banks, is that it permits too large
an increase of the volume of circula-
ton, and threatens an imitation. But 1t
is unfair to compare the amount posi-
bic under the proposed bill with the
amount of bank notes now in c1rcula-
ton. The lack of profit upon bank note
circulation because of the tax, has re-
duced such circulation far below the
amount ever expected, and such reduc-
tiOn can be creditably charged to a con-
traction which was equally unexpected.
The proper comparison is between the
; amount possible under the present law
and the amount possible under the pro-
posed amendment, which would be but
a 10 per cent increase, an amount which
can be easily absorbed by the business
of the country and utilized in as many
different money centers as there
are national banks. The repeal
of the tax upon national
bank notes and the substitution of
tax upon bank franchises, as measured
by their capital, surplus and undivided
profits, are proposed in a spirit of fair
ness, and for a just distribution of the
=
will pay the tax in the same degree as
the smaller banks, while the amount of
revenue will be practically unchanged"
In conclusion Mr.. OYerStreet said;
1.-THE advocates of currency reform
firmly declare that the financial opera
tiOns of the government are upon the
gold standard, but that the honest coin
age, and the persistent attack upon the
standard value, fully Justify the legis-
latiOn asked. To firmly fix gold as the
standard of value, the uneQuivOcal
TOR ma h
proper safeguards, is the central idea
of the law proposed. 1t is confidently
believed that the country demands 1t,
and that our action VIII be ratlneu Dy
the people. The supporters of the pro-
position are not confined to the Repub-
lican party, nor to the so-called money
centers-' Democrats of courage and
conviction have nObly dared to break
from party lines and suffer, unfiinch-
ingly, the sting of the party whip, in
honest and patriotic effort to uphOld
the integrity of the national credit and
make secure the foundation of the vast
and expanding business of our people.
The American yeOmanry in the great
agricultural fields of the country are
fully awake to the Importance of the
subject and appreciate the wisdom of
the legislation. Nearly all of those who
Wavered in 1896 corrected their error in
1898.
While the question is economic and
should be separated from partisan de-
bate, yet the Republican party viii not
attempt escape from responsibility for
the legislation, believing that it is wise
for the country, safe for the people and
in perfect harmony with the institu-
tiOnS of the nation
MASON SPEAKS FOR BOERS.
Washington, Dec 1.-THE announced
intention of Mr.. Mason (Ill.) to address
the senate today on his resolution eX-
pressing the sympathy of the senate
with the South African republics in
their war with Great Britain drew a
large audience to the senate galleries.
In the absence of President Frye, Mr..
Platt (Conn) was designated to occupy
the chair.
Mr.. Hoar presented the resolutions of
the Massachusetts legislature in favor
of a constitutional amendment provid-
ing for uniform hours of labor in manu-
facture in the United States.
Mr.. Mason (Ill) then called up his
resolution offered a few days ago, eX-
pressing the sympathy of the senate
with the South African republics in
their war with Great Britain. His
speech was long and delivered with
characteristic Vehemence. lie was ac-
corded careful attention by his col
leagues and by the gallery auditors. He
maintained that under the Monroe doc
trine and precedentS previously eStab-
lished, the United States had the same
right to extend its sympathy and hopes
for success to the Beers in their strug-
gle for liberty as it had to interfere
with Spain III its conduct OF the affairs
in Cuba. He urged that the interest
of the United States was aroused by
the fact that the South African war
q
rOyalty-betWeen the divine right of
kings and the divine right of men.
If we should speak quickly, it would
sting the politicians who brought on
the war for greed of gold and cheer the
poor brave Dutch defender of his
home"
He cited large number of authori-
ties in support of his position. He de-
cIared that the 1iliputian statesman
rafting around in GladstOne's shoes,
trying to undo his work and break his
promises is Geceiving no one except
possibly himself"
Mr.. Mason adverted to the conditions
which brought on the war, entering
fully into the question.
Mr.. Platt (Conn-) presented resolutions
ing the admission of polygamists to con-
Mr.. CockreH CIissourD directed the at
tentiOn of the pension committee to a
bill introduced by request by Mr.. Pettus
(A1a.) providing for the payment of
Mr.. GaIlinger, chairman of the commit
tee on pensions expressed the opinion tnat
no such measure should have been pre-
sented to congress. In my judgment,
ought not to and probably will not re
ceive the favorable consideration of the
pension committee. The promoters OF the
bill are deluding thousands of poor people
and are simply trying to keep this agita-
ton alive for their own benefit"
Mr.. Cockrell urged that the bill be re-
ported back adversely as soon as possible.
It was referred to the pension committee.
tiOn calling on the secretary of war for
H. C Merriam's action towards the Coeur
d'Alene miners, recitng certain charges
against General Merriam in his conduct
Mr.. Chandler objected to the immediate
consideration of the resolution and it
went over.
TO SIDETRACK ALLEN.
Friends of Hitchcock Want the Ex-
Senator to Stand Aside