, 1873-12-18

uly multiple THEREOF; wntch certificates tIl, r.
Interest ut 5J.lu lrr cent Iier Al1u. I4p e,1.jl-
ctes ~ tasucA Huai not exceed 5 uJ3 III tue wOle
siid HAi1 certificates 4nuil bu tvu4suLlt thu VII Of
tllo holders t4creot III Treasury Of the Ui,JI
St1tes, or tito uu44utttAtiolH now III tue uud upuu
H,cn le1utnltluI, the insetrBk tlcu nucrued III hch
cur4ttcaten snu be ray4p4o UNI paid, una tls eer-
cntes NJ rcaec1Acd hlau Do cauctlGd nnl destroyed
but iew certificates lnay, frou utu to tnle Issued
III uce IT, Aud to tue luoant Of tie certificates i.
uecaed It tno shall bs dsuallt.e1 W tAo 10 d.rs
Of United states Treasury npes Amt tue cer1lc4tvs
so issied sauil no. bu uaeI fur III tue 70.
ner9ss LOW relured lw to 10 helI uy tic Nt.luual
nnKe Tor Inc paslneus of their crcllatlou AID te-
k0n4ls.
i'roro~ed amendments Submitted.
Insert bet~seil tie words ''coH,iuu1" auu tito be-"
III as third propoaloA Of thu EunIitou tuc fpI.,-
lug: Uu the l-sE AIoldly III July 1si1." Aul add.
Proposition Nth:
, n4s: ~ u ; a4 NJ sttsr tho arat Monday in 5uly 1871
'ue layuiout u any do~ta, pubIc AID pf4va.s."
Amend Tho report Of tic Commteo 80 that tho nrrt
nine lilica snail 1tHd us totiuw4:
I.tao.rt, Tn7t tne National HJarl Of Trade recon.
mcilI to conEsesato 70 provido W w,o nu4ncia pol
lty, for tho tpstoAtou OF ta hcc.s uuu4ru u tL.,
edu!atuG relay of tua ualte blates unu for rsr-
ung tue issuo snd uso of BuuA currency ou tu tcs-
f,,st-fur tho redemption Of tho Treasury no,es Of
the uu1ed stus tcunAlony caieu gtesupleka) ut any
Treasury III tae unitud slatus i'll Koll GUiu,
tiiAnu vi holders the1eot allu utter tho Day.
alcnt or fuutug or tue u4sionAi debt bten 5oyll-
Ell for, and sue aaaneu VI foreiya srudo has usen
tu4Aedt ItElahtlitly, iA fsor Ut the United Statts
mud aud, Ia III auuItou to tbs rolosE Of tue Co1u-
mitlee, tie following;
WuEagAs, Oar prssunt system Of national banking
has proved sato III securing tho hold IT If Glrs,-
l4ug Aotts agAtt loss, it IL cneciany du irablu nat
is te!ieaB 10 cxten.ctl, by anleu1nluAt to ma1r
sltn rctIuirvd w tns bsissa aud Liz
isrests Of tue cotrj tat 1t ay minister to tue do
uIeatlc productive ln,itialrIcB; therefore,
icsui4t. That i'll our vibw |. not only consistent
with Iutcy bit CONSERVATIVE Of tho gGllual we.Iare to
tenluys aA restrictions tnat now limit the tsslle Of
National Dank curraucy bEecal p3iYlegs, ua giye
tbs ltgut tn AIl banking coulutirs tA4t furnish the
required security, but not to impair tua Integrity or
to.'ive u4fey VI tue circulating noes In ANY dssiee.
Netvsued, 1uat We think t!a heavy national tl1 ia
which LIE Eauonal D~n"a ara subjected migut b, ro-
duced WILL generul uullslt o tic %uoe community.
Dl1klK l1"a hunks required to holl Aud Keep
.ns goi intcress acefaing from the uultcl stntea
oi iher noss. it will for uasis for tue
resumption Of spusio payment tue fututo when tux
tntefeAta Ut tha nasion inAy reluiru 1t.
Resotred, That the National Boarl OF Trade recon-
mea Con5rsss lu ou"ct law directing tho S:cl o;ary
tlo Ilcasnty 10 cuurAct tue Brtsnek onrral,3 Ut
n0 rate Ut <1,010 Guu ter 1uouu, commencing july
lo7..
lirsored, That the National Board Of Trado rceom-
inruI CouEreos tn prohibit by Inv tue payment
tetiou u Interest OIL current deposits, W the Ma
t4uual UAnkB.
mea Congress- to aiacul thu National Linking law
INIT tue banks sail be compelled Au:a coin lney
r>ce,ye for interest on tlsr bons, u part Of then
rcstrvs, until their reserves til cot shall 10 c4uA, ut
fcab to 3O per cent Of tlletr circulation.
lesoced, That Lie Satlonafn3a Of Trade recon-
me to an,o4 tno Nuttynal ax sna
retucs their circulation uAt 1t shall uot e1coe4 5u por
eent Of trr rnna sna'n t, no,z, =,
hesosseo, luat tne Nauonal U'aru o. ifado recon-
anchu Congress- to onact treo banking law containing
tlu atovo provisions.
Etsoired, That the paymen. Of Interest On depos,ts
by tue Natioa, Hunks, rhuud, in tas opinion VI thin
Board, be prohibated bS luw.
WnEnEAs, The amount Of currency and The n,srnbcr
OF ba,lkB required iu country can never be rupcri.
determined " Legislative assenby, Lut ouiy " III,
W4n.a; pud
WHEREAS, Tho inc1as&cisy Of our currency, arising
Inns repeatedly inpaireu tho general prosperity uy
bar.assiug, Ut certain seasons tho movement IT QUE
crops and
WnEREAB, A rocourHo to tha Government for c1tr1
Of power, ..I In hostile to the spirit Of ztitu
tiona: tliesei9rs.
w @ PesS {" ~ I
regain the bonds, ut lis opslon, Wnu!u supply tue
requisite elasticity to on saoneary system.
Itsoircd, That tho passuge by Congress Of frca
1t justly beloneB tho decision to tle number a:
bunks needed for tho transaction Of their business.
-
numbered Fourth, Fifth, and SIXTH respectively:
That on ana after tho 1st day of july 4. II. 1914,
10 per cant If tue duties Oh imports uuy 10 paid in
thu Treasury noioB Of tue Guited Stales After tbs
lst day Of auuary 1915, 20 per cent. After tho LAT
dsy Of july 1875, ~ par ccn Aftor tho 1st dag u
January, 1876, 40 per cent Alter tho lat day of
July, 1910, 50 per cunt.
Ptoridsd, however. that such Treasury uotes shall
not bo received to MI extent to coarraaa tho National
Treasury in providing for tho payment Ii coin Of tbs
interest OH the publEO debt.
Fur M amendment to the National Banking Law.
providing tla Whenever the Treasury no!e1 arc IT.
stored to tue specie standard Natioual D!nis bs
established by any ana ~ pe1suus complying W7tn
aeh rules und regulations as may he provided W Law.
For an amendment to the National Banking law re-
1uiring ui National Banks to redesM thoir notea IN
tue City Of New York.
see after tho worda per nnnlm on the eleventh
ltne add "ant for tho rcde1n-! Of such cert!toaes
the Government shA provide a1id Keep u reserra ~
amount Of currency equivalent, ut I'LL times, t9 the
amount OF such outstanding certificates, Without
d!lu! !lng the present Voluu0 OF currency for that
e,.a.,.,,.. <,. .,t~a ,..,,..,,, un,,. ,<.o, Aim
a.. eSi tos 1ta It tsoposna nn9a s1 Ma.rrT
ntst vnny M n S5. .. ~ i io,,, sa1 " sa ~ tIr
noItH VI tne ohtea ssasss suau ceaso ~ ue t
lef lno raynent o My dcbts pabne Ut p'ate' e1cep'