, 1874-05-07
WASHINGTON r.
The Senate Committees
Compromise Cur
rency Bill.
The Measure Likely to Pass
the Upper House.
District Investigations and
Their Developments.
What Is Known Concerning the
Bogus Safe Robbery.
A Deep-Laid Plot to Crush a
Leading Memorialist.
The Game Proves a Decided
Failure. :;
Prominent District Officials Implicated
in the Matter.
Minority Report Of tho Hou:e Com.
mittee Concerning South Caro-.
lima Finances.
Plain Talk In tho Ilouso on tho Centennial
Bill.
Plain Talk In the House on tho Centennial
Bill.
National Banks Called Upon Tor Statement

DFe"t"* 0heP"tSt ~ 4 no tHtGHtV Fuf*HFs
THE BENATE SUBSTITUTE For THE HOUSE Gun
nENoY DILL.
WASHINGTON, D. O., A1ay 6.-The bill reported
to-day by tho 5onato Flnauca Committee received
theaupport Of all the members Of the Committee
except Ferry, Of Michigan, aud Wright, of Iowa.
These two gent!omen gayo notice Of thcir inten-
tion to move amendments in tho souate. Whilo
they uid not indicate exactly what these nrnond-
monts would no, it ia protty we'll settled that
they will DO directed to the two redemption Sec
redemption OF greonbacks ooincidont With tho iH-
sue Of now bank currency.
Tho intiRtioniBta will doubt1eHs
MARE A HARD F1uuT.
They know TINT it tho bill passes without tlnt
provision tho President will veto it, and, faiiuE
to get boundloss expansion. they rofuse to take
anything loaB 1t is Impossible at this timo to
predict what tho fate of the bill will be. Tho
reopening and removed discussion Of the ales-
tion will De tue signal for much greater earilcst-
moss and excitement than attended tho nuancia!
struggle just ended.
SENATOR SHERMAN FEELS RATHER CONFIDENT
Of the passage OF tho measure in the Senate,
Ills chief fear being that tho elorts to amend
without amondmont. tho senator thinks It viii
be adopted in the House without alteration. A
yery few moderate intlationiBts will advocate
as por cont, instead OF 30 per cont, greonback-
redemption bill. This would kiu the bill Just as
effectively Us wipfng out OF tho ontre section,
as it Ia believed on all l1ands that tho President
f7s tha Assoctasea prrss.1
TEXT OF THE COMPROMISE HILL.
WAsu1koroN, D. G., May G.-Alr. Sherman
reported the following from tho Sonnte Finance
Committee to-day as substitute for tho House
sEorlos /. Ii it enacted, etc., That til. sct to pro-
vide nationa! currency, secured bY pledge Of
United states bonds, and to provide for the circula-
ton aud redemption thereof apploved June ., 1904,
shall be hereafter known aR tho National Bank aot Of
1904.
sEo. 2. That Sec. 81 Of the National Bank net OF
1874 be 80 amended that the several associations
to keep III hand any amount Of money whatever, by
reason OF the amount Of their respective crculaons
bnt the moneys required BY sad section to DO kept s
deposits In a respects provided n said sectlou md
such National banking Associations now organized or
hereafter to he Organized shali keep and maintain
ar Of taeir RESERVE onsfoaFth part Of the cDin
oelyed by them neross bombs Of the United States
deposited - security for circulating no!es Oh tho
SEC s. Tint Sues. il aud 81 Of sa net DO amended
by requiring that each Of said associations shall,
M s aa Il sp
aspasi. srs ss5t!sa oH. .aa vi proxi!s,ie'ns
.uy Of said associations 10 keep ay portion of s law
ful money reserves el*ow,ers than In ita owu vaults.
hs M a%p 9 CIR
cert as provided fur tn this act arc erely repoalod
seo: 4. That Sec. - Of said act and tho soyeial
Of noes for circulation undcs said acts be- and tho
same ars hereby repeaed aud tic proylso lii tue rst
ssfon ssf n of 1sxao the ait July ~ ssa
Tor A. ineseass Il Naionai; naaS notss,S
Ut $4,000. aud the proytso tho third secsioa
Of aaid net limiting the circulation OF ths banka autor-
$ooo0 aud &c., 10 Of sail ac Io1.tug 10 redistrbu
tion Of $25.o0o.o0o Of circulating notes, be nnl
@ osrss asfsy s ss .asss IT, u
srne.l by tho rules restrictlons Aud limitations, d
poasesa the rights, privileges anil franchises oe
banking associations, with tho sa1ne power to amend,
alter, ana ropeal' provided by s4s National banking
sgo. s. That every association organized Or to bo
organized under tho provisions Of aai net aud Of tho
several acts in amendment hereo shal it all ttcs
Unite1 sates In lawful lnoney Of tic unted statos,
an,n cqa to per cont OF ita ctrculstion to: 10 hrl
aud use only for tue redemption pf auch circulation,
soa os o. as4ociaion sIa bo ressaed tor reepioa
il sums Of 81 900 Or any multiple hoIso to the Treas
Ss'f Ss rodsoea 10 IL ns9 9uaa .ss ne 'h XII
notes no redeemed a)lal DO. charged by thc
Comptroller Of the cnrrancy to TIP respective
Heyerally the arst day Of ouch month"; nttrnes
his diacreon, Of the amount Of arch re1enntiias,
doposit viii ths Trsssser Il K tie Wnited states M sum
equal to tho amount Of ta circulating notea 10 re.
deemed a,'d a! notes Of Nnslonal banks wor do
faced utllated, otherwiao unfit for circulation,
shal when receSed by Hny Ass1ant Treasurer, or at
guy desgnase'l reposltory of tho United ha:es. bo
forwarded to tho Treasury Of. tito United statoa
for, rodcmrtion ~ provided hcrein, and when
anch retcsnpttona haye becn 70 retsnbMrsed,
the circulating rates rodean,e1 ahAA bs
forwarded to the respective associations by whom shuy
were ssuod; but, such notes wotI ,nus.latsd,
torn detaced, Or rendered otherwlue unt for INC, they
ulal 10 forwarded to tue Comptroller Of tho onrrenoy
and destroyed ana repaced. as provided By law;
provided that each Of said associations shall reimburse
10 tho Treasury the charges transportation md tho
cost of nssor|ing said ,notea and tbs .ssocations
hereafter organtzed shall uHo saser1ly reimburse to
tho Treasury tho cost Ut engraving sua paea ~ shall
bs ordered by sach association respecycyt and ths
anount assesHed upon each association sla be tn pro-
thu fluid on dopoalt with tha Treasurer.
Hgo. e.. That any usaociaton organized under tle
gct of which tais II au anenmont desiring to With
draw ttA circulating notes lu wlos III part, may,
upon dslosit ot lawful money With The TREASURER q
tho United htaca IN OF not less thAu 50 000 take
up tho hondh which raid association has deposit With
ts Treasurer fer .ocnrty Of anch circulating notes.
ner specified in tho nineteenth saetion Of tho act Of