The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-03-04
ILDRICH BILL DISPLACED
AFTER MIR. ALDRICH HAD MADE
A ABATEMENT or IT'S OBJECTS.


Place rs the order Of BusinCss-Omni'
nus Public Buildings Bill Passed
WASHINGTON, March 3-When the Sem
ate met a II O'Clock to-day the con-
ference report ON the Presto entail Pro-
lection bill was called up and discussed,
b,,, nj 1 O'Clock the Adrch bill was laid
hefore the Senate AZ unfinished business.
A parliamentary struggle for precedence
between the advocat es OF these and other
hills ensued. In the course OF which Mr.
Ouay proposed a programme OF successive
vote. on the Omnibus Statehood bill, the
A,fIricb bill. the Anarchy bill. the Philip
nine hill and the Pure Food bill. The hair
1Mr. Perkins,, ruled Mr.. Quay's proposal
out of order, and Mr.. Alorich then made
this statement on his bill:
I desire. before this bill passes from con-
alteration Of tha Senate, To say Few words
In reply to criticisms passed upon II ny SEN
ators on the other side was surprised
nv the vehement and Jealous denunciatioh
of national hanks by the senator from Ma
hama and the Sen stor from Kentucky II If
on echo ri The Den ocratic attacks In the days
nj the war The national bank system IL
established firmly. DOT by the consent of
the Democratic party. but in spite OF AT i's
attacks 1t is established becau-" the IN
t,rests Of the country ,Emand II ana no party
can change IL. ,
Some Democratic senator's found fault
with this bill and charssd that II conferrtd
new phts and privileges upon national banks
\ deny that in toto rlSre ~ not WORD,
not n syllable in the hill comforting any ad-
ditional right or privilege on the natiohai
banks On the contrary. certain restrictions
are imposed by the bill that DO not now exist
in law IL reltv.s the country from the
kN.n "A
finances and Of causing a stringency that
yiIl injure all the industries of the country
The bil proposes a plan to relieve the country
In this particular This Is no new pohcy.
II was approved by Republican and Demo
cratic Secretaries Of the Treasury. including
MIR Fairchild and Mr., Carlisle.
We are following the same policy OF the
Government indorsed from the time OF Wash
ington to Rooseyn InSSTbd Y d nstor from
Arkansas There are two restrictive pro-
visions in this bill which the Democrats are
liens on the assets of tho ban rs in which Gov
eminent money Is deposited. and the other
( re are OF 10 on thu Smo
Gratis in this chamber. They are VIKING 70
give every privilege and immunity 70 national
any restrictions. but they are not willing TO
agree TO the rsstrictiohs We now prop prop Soo-
in the Treasury that will be turned over TO
the national banks, He cohiuSes the surplus
and includes in his surplus the gold reserve
Of also ooo, 600 No, condsidersble body Of
men IN the United States sah be f3und VINO
That is the rock and foundation Of the gold
standard. II there Is anything which the
ton Of the monetary standard. and you could
not get half dozen votes even in this cham
Der against reducing the gold reserve.
Mr., Aldrich gave the figures OF the actual
receipts and expenditures OF the Govern
ment and the condition OF the Treasury
and continued
There is no such surplus in the Treasury "a
claimed u the senator from Colorado 10
Colombia and Cuba we may have deficiency
instead OF = surplus within the next nscal
Our FIRST duty is 10 The Treasury, ! hear
ne fsaIs%i idn maze sl1 ' h ~ re se Wbai
aid last night, that the only word from any
nitional bank on the subject have received
and other cities are also directing. on the
ground that they cannot make, profit on
The ,tional banks Of the country have no
right 20 say to us you must defeat this bill
unless YOU make it prolntshlc to us to handle
iscrssse these deposit. iarE .ly We have re-
and we viii continue 20 reduce the surplus
whenever IL exceeds reasonable limit ~
safety. The Rspubgan party has never
proved recreant 10 its trust In managing the
financial affairs of the country. and II will not
be recreant now.
Our purpose in this bill is not TO increase
the deposits In National Banks II IL TO give
to tho Treasury the control Of customs re-
ctiDts the same as other revenues and to
turn them in times Of stTingency and stress
into the channels Of trade promptly and feet
ually for the relief u that stringency. II u
not the purpose TO turn all this money over
to the national banks. hut I is the purpose to
take away from them the right to use Govern
mont money without paving for that use
The bill includes other features, among
them the authority to accept other ~eCuri-
tics than Government bonds for the de post
Of public money. This provision IL made
for two reasons. one being that the high
price 81 Government bonds renders II i'm
possible and mpracticuble 10 furnish them
as security FOR these deposits, and the other
reason Is that In some parts Of the country
government bonds are not readily obtain
able, while first ,lis> local securities are at
hand, which Tor the PURPOSES Of security
are as good a. any bonds.
10 i charged by some Democratic Sena-
tors that there l. proposed change oil the
status NJ the deposits in national banks
Can any senator. reading this hill. seriously
contend that these deposits are on exactly
the same footing a. before that they are
payable On demandf Tho Secretary 81 the
Treasury can call on the banks Tor this money
~ any time aud they ar" required Ia Furnish
n on such demand. 'Sactiv ~ under III"
present law. Hut u the bank fails 10 return
the deposits, ~ " thrr" l. d"nClfn'y ~