Greenfield Evening Republican, Greenfield, Hancock County, 21 January 1895 — Page 4

THEY ARE ALL AT SEA

CONGRESS SPLIT INTO FACTIONS ON THE SUBJECT OF FINANCE.

A Growing

Feeling In Favor of Silver.

Various Authorities on Fiscal Science.

Views of Congressmen Stalling*! Hen-

drix, Hepburn and Others.

[Special Correspondence.]

WASHINGTON, .Ian. 14.— If it WERE not such a very sorious matter for the people, the cougrossioiml situation at this time would rouse the weeping philosopher to sardonic laughter. The explanation is ciiuple, too, for, lo! these many years \%o have been trying all sorts of experiments in finance, and many of the wildest have proved apparent, successes because the rapid growth of the country saved us from the natural consequences of our folly. The result has been to create a foolish confidence in some and extreme timidity 111 others, with a general uncertainty and many diversities of opinion which are represented in congress. In the dominant party there are no less than nine factions, ranging from .Mr. perry of Connecticut, with his sweeping bill for retiring all government paper money, to Mr. Bland from Hard Money Patterson to Soft Money McLaurin.

Growing Favor For Silver.

The Republicans could bo hilarious indeed over the predicament of their opponents, but their own withers are by no means unwrung. They have polled the next congress a few times, and every time have discovered a few more fellows who are off color in fiscal science. A singlo instance shows how panicky the feeling is. In ordinary times the fact that the Republican who is to succeed Mr. Traccy of New York is a silver man

Would

W-A,-wy-i

cxcite only a

smile, possibly an expression of good naturcd contempt, but the recent announcement of the fact caused a feeling a little liko that which runs through an army when some trusted ofTiccr goes over to the

JHSSE F. ST AI. LINGS.

enemy. Moreover, in spite of all tho political changes, it is today asserted that tho now senate will bo even more strongly prosilvor than the present one.

Senator Quay makes no secret of his intention to talk the appropriation for collecting. the income tax to death single handed and alone, or at least to talk till tho new senators to fill vacancies get here. Of tho three from tho now half represented states wo were at first assured that two would bo goldbugs and ono a silver crank, next that one would be a inonometallist and the other two moderate silver men, but now it is given out that all three will lie silverites. The senator stands almost alone, however in his party on tho proposition to nullify the income tax law by withholding appropriations. Such Republicans as Sherman, Cannon and others of long standing experience protest that it would be a very dangerous precedent. Mr. Cannon says: "The Democrats tried it in Hayes' time, went just far enough to rouse an«er and then backed down. If wo begin it—well, tho Democrats have never been backward in adoptiug our worst precedents, und I fancy they would bo liko that fellow in Shakespeare who said, 'Tho villainy you teach me I will execute, and it shall go hard with me but I better tho instruction.'

It is taken for granted, therefore, that by tho close of this session, if not before, the government revenue will exceed its expenses, and tho house committee on naval affairs is figuring on a considerable surplus by December. This relieves tho Democrats of tho heaviest pressure to unite and pass a bill and leaves them free course to run and bo damnified. How wildly they have run, and how scattered and how changed positions, is shown not only by the nine diverse propositions they havo had to consider and caucus upon, but by tho fact that so cautious and conservative an old southern Democrat as Judge Culberson favors a plan which two years ago would simply havo annihilated his party in tho western states. He thinks all tho greenbacks and Sherman silver notes, nearly $500,000,000, should be funded in 2 per cent bonds, which could be used as tho fcasis of banking. A unique plan indeed is that of Congressman Terry of Arkansas. Jn addition to a tolerably liberal banking law, ho would enact that any stato or territory may buy silver bullion as cheap as it can, bring it to tho mint and have it coined into silver dollars on state account, provided that the amount in any one year should not exceed if 1 per capita of the state's population at the last census.

Mr. Terry's I'hin.

"My plan," said Mr. Terry in thecourso of a lengthy talk, "gets rid of all tho superficial objections to tho increased use of silver. There is really nothing in most of thorn, and the main ones nullify each other, but superficially and as presented to tho people they havo a certain force. Under my plan tho silver kings would not get tho benefit of free coinage, nor would the increase be rapid enough to disturb existing contracts. It would supply moro money just about as fast as needed and, in my opinion, would in time bring tho two metals to a parity. While the process was going on tho people of each state or territory would got tho benefit of tho dilTorenoo between bullion and coin. Better still, if the goldbug states disaproved of the system they need not go into it. Only the states in favor of silver would then havo it coined on account, and the goldbug states could cut down tho increaso one-half, if they liked. I havo no doubt, hovvevor, that New York and Massachusetts would take tho seigniorage just as promptly as Texas and Colorado."

Tho gonial Mr. Stallings of Alabama also has a plan which ho thus sets forth in conversation, for ho has not thought it •worth while to put it in tho form of a bill: "1 start with tho proposition that tho national banking system is tho best this country ever had, and though a better

might be devised it would bo impossible to get it adopted. Furthermore, the restriction of tho issue to 90 per cent of the bonds as well as tho security deposit havo long been unnecessary, for the bonds arc worth more than their face, and I can hardly conceive of a condition in the future wften they could not bo immediately sold to redeem the notes of any failed bank. I would, therefore, for the present give the banks the right to issue the face valuo of the bond and in emergencies like that of 1893 to issue 50 per cent more, this extra issue to be subject to a heavy tax, which would insure its retirement as soon as the emergency passed and the rate of interest became normal. I must admit, however, that this is mere theory, for there is so much cowardice among public men at present. I consider this as one of those periods in which legislators should lead public opinion or even resolutely defy it instead of following it. Congress ought to follow the light of experience and sound science, and adopt the best plan, even if the people were opposed lo it, and then go out and persuade the people to indorso it. A funny illustration of the general scare is found in tho published figures on tho gold available and the statements made about it in congress. They talk about there being $600,000,000 in the country, but my opinion is that a universal search warrant would not discover more than $325,000,000.

Varied Flans.

The country lias heard enough of the Baltimore plan, tho Carlisle bill, the Springer substitute for the Carlisle bill, tho Bland substitute, the Walker substitute, the Walker amendments to the Walker substitute and tho Springer amendments to tho Springer substitute for the Carlisle bill as well as the Sperry substitute for all tho other substitutes and bills. It would fatigue the memory to even name the minor subdivisions of opinion on nil theso measures, and in this chaotic condition the. house drifted toward a vote, tho Populists being the only really happy fellows in the business. The first day after the holiday recess, but one-fourth of the members being present, the debate was a trifle dull, tho speakers being Messrs. Black of Georgia and McCreary and Beckner of Kentucky for the bill, and Messrs. Haugen of Wisconsin and Adams of Pennsylvania against it.

Jerry Simpson injected a littlo fun by asking how the people of tho United States had lost .f20,000,000 by the decline in the price of coal, as Mr. Adams had stated, The latter answered according to the advice of the old lawyer to "abuse the plalntiff's attorney," and then Lafe Pence came in with some evidence about the foreign born miners of Pennsylvania, which stirred up feeling and mado tho debate almost interesting. On the second day, however, Mr. Hendrix of Brooklyn said in substance: Tliero is too much paper money. If we are to maintain the gold basis—and do it we must—we must fund the whole $550,000,000 of government paper in bonds and then uncounted millions of gold now waiting to sec what wo will do will (low In upon us from Europe. Now is the golden opportunity, when tho world has more money than it can use. Ibegof you striko while the iron is hot, while the great pools of capital in Franco and Germany and England are waiting simply for the signal that tho United States is onco moro all right and intends to keep all right, to let their Pactolian stream come over and flow through all the veins of our commerce."

A Sensational Speech.

Tho sensation of the day, however, was tho speech of Hon. William Peters Hepburn of Iowa, who spoke but 15 minutes, but every sentence was a snapper. He was for high tariff, moro silver, a subsidy to shipping until we do all our own carrying, and for several other things selected from tho measures advocated by various parties. Consider this sentence, "But I am as firmly convinced as that I am alive that, if the secretary of tho treasury was now to exercise discretion, paying out gold when legitimate redemption is demanded and refusing to pay it out when tho solo and only purpose is to deplete tho treasury of this country, when the desire is for shipment abroad, tho e\ ils that we suffer from would cease to exist."

Tho

gam of his

speech, however, was in tho few sentences with which ho cut tho balance of trado theory into giblets. Ku asserted, and some think ho proved, that tho balance of trado has never been in favor of this country in the iast 50 years. His demand for moro silver money, coming from an Iowa Republican, was highly significant. The silence on that point of Mr. Dinglev, who followed, was equally significant. It was tho opening of tho rift in that party corresponding with tho somewhat bigger rift in the other, and as tho debate went on it seemed to grow.

The next speaker to excite great interest was Bourke Cockran. Tho temper of the houso may be judged by the fact that when he declared in an eloquent period that tho financial question should not bo political there was a smile if not a snicker. This proposition to mako every important question nonpolitical has become such "chestnut." And during all the week here briefly outlined thoro were never at ono time 120 members in tho houso and very seldom more than 80.

Talk of an Extra Session.

Those who ought to know insist that there will bo an extra session of tho Fiftyfourth congres*, and somo go so far as to namo tho date—tho second week in April. On tho assuranco that thero will bo a surplus tho naval committoo wants .$8,000,000 for three new battleships, 12 torpedo boats and sevoral other things, but most of this money would not be spent till 1896. Both houses are tolerably liberal at present, and tho appropriation bills aro doing quito as well as could bo expected. Tho silvor mon swear that Cloveland is merely trying to scare them with tho threat of an extra session, and that they don't scaro worth a cent. They liko tho prospect. They aro perfectly confident that any currency bill that can bo passed on present lines will be a failure, and they very naturally want the Republicans and goldbugs to bear tho burden of it. Thero is I heap of human nature in a man if ho is a silvor Democrat. Outside of congress thero has been a very singular change for tho worse. Only threo weeks ago the charitablo societies were rejoicing that their work would bo light this winter, and dealers said that tho Christmas trade in small articles was largo. Tho poor people must havo spent all their money then, for now tho most appalling accounts of suffering aro heard from every side, and thero havo actually been several deaths from want and cold. Today, unless all tho witnesses aro mistaken, the local situation is as bad as a year ago. J. B. PARKE.

Men of Genius.

Oulda deduces from history the fact that mon of genius aro fine, handsome fellows. So thoy aro, as a rule. Witness Tennyson, Mussot, Scott, tho strongest man of tho rough clan Marlborough, Gootho, Bonny Dundee Burns, Longfellow, Sir Henry Taylor, Napoleon, Shelley, Byron—a gallery of beauties. Tho Popes and Yoltalres aro tho exceptions.

HOUSE AND SENATE FORECAST.

The Week Promises to Be a Bus and Irnportant One.

WASHINGTON, Jan. 21,- This promises to be a busy and important week the house. The program arranged by the I committee on rules before the departure of Speaker Crisp for Asheville,

N.

Newport, Ky., $100,000 Cumberland, Md., $75,000 South Omaha, Neb., $200,000 Paterson, N. J., $250,000 Brookline, Mass., $75,000, and Pottsville, Pa., $00,000.

The program as arranged for the week may be subject to change in case Mr. Springer, chairman of the committee on banking and currency, decided before the end of the week to bring forward his new measure. He has been in constant consultation with Secretary Carlisle for the past week, and is very sanguine that concessions can be made to the silver men which will induce them to withdraw their opposition. He has expressed the opinion that he would bring forward the modified bill this week aud that it would pass. This opiniou, however, is most generally shared by the Democratic leaders of the house, most of tiiem do not hesitate to say that her believe all hope of currency legislation at this session is dead.

It is also possible that the resolution for the impeachment of Judge Ricks may be before the houso before the end of the week, but the fact that the committee on judiciary decided Friday to reopen the case is interpreted to mean a delay which will render any attempt to push the case against him at this session abortive.

Next Saturday by a special order will be set aside for eulogies on the late Senator Alfred H. Colquitt of Georgia.

It is not improbable that Mr. Boutelle will attempt to secure consideration of his Hawaiian resolution and thus a debate on this subject precipitated in some form,

Senate Forecast*

"WASHINGTON, Jan. 21.—Tho prospect in the senate this week is for more talk than accomplishment. When the senate adjourned Saturday the senate's attitude toward Hawaii, the proposed recession from the senate amendments to the income tax appropriation and the Nicaragua bill, all occupied in the different ways, technically considered, the position of unfinished business.

The income tax question will have the right of way by virtue of its being a

Eirt

of an appropriation bill, but the awaiian question will iu all probability be considered first. There are known to be several senators, most, if not all of them, on the Republican side, anxious to express their views on the Hawaiian problem, and, judging from their private expressions, the remarks to be made will, in some instances, be very Dointed.

The Nicuraguan question still holds its place at the head of the calendar for consideration daily after 2 o'clock. Senator Morgan is still hopeful of securing a vote on this bill before the close of the week, but if thei'e shouid be many interruptions he may again be disappointed. Senator Turpie has the floor for a reply to Senator Morgan, and is expected to make one of his characteristic speeches. There will also be other addresses on this subject before the vote is finally taken.

Senator Cockrell expects to ask to have the fortifications appropriation bill taken up as soon as the urgent deficiency bill is out of the way, and thinks there will be no difficulty in getting it through during the week.

The friends of the bankruptcy and territorial admission bills are growing anxious concerning the fate of these measures, and are beginning to be apprehensive that time may not be left for their consideration if the Nicaragua bill be not soon disposed of.

The present prospect is against a revival of the financial and currency question in the senate during the week, but much will depend upon the action of the committee of finance at its meeting Tuesday, and also upon the attitude of the house of representatives.

Death of Major Joseph W. Paddock.

OMAHA, Jan. 21.—Major Joseph W. Paddock, government director of tlie Pacific roads and one of the pioneers of Douglas county and of Nebraska, died yesterday at his home west of the city. About two weeks ago the major was made ill by a severe cold, which soou developed into pneumonia. His condition was not thought to be dangerous until Thursday, and not until Friday evening was all hope of his recovery given up. His children were at his bedside when the end came. Major Paddock was born in Matena, N. Y., April 27, 1825.

Miss Stevenson's Remains.

BLOOMINGTON, Ills., Jan. 2J.—The remains of Mary

(jr.

Stevenson, accom­

panied by the vicepresident, Mrs. Stevenson and the other two daughters, arrived yesterday evening and were conveyed to the residence of the vice president's brother, John. Private funeral services will be held at John Stevenson's house at 1 p. m., today, and a public funeral at the Second Presbyterian church, conducted by tho pastor, Rev. William P. Kane. Scores of messages of condolence are being received.

Rough Weather at Sua.

LIVERPOOL, Jan. 21.—The British steamer Boston City, Captain Smith, from Now York, Jan. 4, for Liverpool and Bristol, has arrived in the Mersey after a rough passage. Her cattle pens were carried away and 170 oxen and 100 sheep were washod overboard. Her upper and lower bridge were smashed.

Tlireo People Drowned.

FORT MADISON, la., Jan. 21.—Whilo skating yesterday at Green bay, north of this city, Myrtle Townsend, aged 18, Elsie Hughes, 13, and George Crossley, 16, broke through the ice and were drowned.

Indications.

Showers warmer weathe^ south, shifting to west winds.

SiliHIl 8§l£l

C.,

Saturday night (where he expects to remain a week or more) contemplates the consideration of the public building bills on the calendar to be followed by the Indian appropriation bills, now under consideration, the sundry civil and the agricultural appropriation bills,

The committee on rules, after much I urging, decided to bring in a cloture rule to secure a vote on the bill for a new public building at Chicago, to cost §4,000,000. Two hours will be given for the consideration of the measure, after which the vote will be taken. The improvements for the iN'ew York public building are provided for in the sundry civil bill. The other public building bills, six in number, are as follows:

"r1

ilHIWiBii

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Beginning Monday Evening, Jan. 28, 1895.

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