Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1888-06-04
mittee rose, leaving Mr.. Bayne's amendment
pending, and the House adjourned.
General Congressional News

| Representative wilkins from the committee
on banking and currency, today reported to
the House a substitute for the bill introduced
by him to revise and codify the banking laws
| of the United States. The substitute con-
tains the views expressed by the comptroller
of the treasury before the committee. The
report states that the original act authori ing
the establishment of the national banKing
system and later law modifying the same
were passed at . time when the government
was in great need of money, with the object
not SO much Of supplying medium of fur
nishing the government a market for its Sc.
curities, which it was issuing from time to
time other than the limited market afforded
| by the ordinary demands from the people.
The conditions existing then, the committee
| says, have long since ceased. The govern
ment has is ne longer seeking market for
its securities, nor looking for a purchaser
| for its bonds. 1t is no longer borrower but
is making haste to be out of debt; therefore
| owing to the success attendant upon the nat
tonal banking system and the recognized
benefits it now affords the whole country
the question of its continuance to'a period to
equal at least with the existence of a govern
ment bond, seems well settled by both Con,
gress and the people. Since the embodi-
]
of 1873. the committee says many of the
laws and amendments passed since that time
are of the utmost Importance, and are scat
tered over period of l5 years, and distrib-
uted throughout the same number of publi-
cations of laws of each session of Congress
incOnvenient of reference and inaccessible
10 the great number of persons interested.
1t is believed, the committee says, the time
has arrived when there should be complete
eoditication of all the laws relating to nation
4 banks. The bill conforms to the existing
law with but few changes in phraseology and
with slight variations of import, except those
suggested by the comptroller of the currency
many of which were in his annual report of
last year.
The Senate committee on appropriations
has yet to consider ten of the regular annual
approximation bills, and under the most
favorable circumstances the work could not
be done in the time yet remaining of the
present fiscal year. 1t is expected that the
consular and diplomatic bill will be consid-
cred by the committee on Monday and be
reported and taken up by the Senate for
action before the end of the week, but no
other action on matters of interest is expect
ed during convention week. Senator Cullom
will address the Senate NJ nday on the pro-
posed amendments to the Interstate com
merce law, and other senators may take occa-
sion to deliver prepared speeches on meas
ures of general gislaton, but it is probable
that most of the time will be devoted to the
consideration of ''unobjected cases" on the
calendar 1t is Chairman Mills intention to
call up the tariff bill again tomorrow and
press its consideration in the House through
out the week. The only appropriation bill
now on the calendar viz, the army appro-
priation bill, may be allowed to pass, but lit
tie other general business is likely to be