The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1890-01-30
Without committing himself or any men,
ber of the committee he asked TO have it
printed and referred.
The text of the bill is as follows:

Without committing himself or any mem
ber of the committee he asked to have it
printed and referred.
The text of the bill is as follows:
That upon any deposit already or here
after made of United States bonds bearing
interest in the manner required by law any
National banking association making the
same shall be entitled to receive from the
comptroller of currency. circulating
notes of different denominations
in blank, registered and countersigned as
provided by law, not exceeding in the
whole the amount par value of bonds de-
posted, provided that at no time shall the
total amount of such notes issued to any
such association exceed the amount at
such time actually paid in or its capital
stock, and that all laws or parts of laws in
consistent with the provisions of this act
be repealed.
Mr.. Bland, of Ohio, raised the ques-
ton of consideration against the bill end
the house determined, yeas, 14S, nays, ITO,
to consider the bill Mr.. Bland said
there was contest between metallic money
and the power of the banks to denominate
the currency of the country. If congress
was to make fight for the people it should
not strengthen the enemy and provide q
mode by which the banks will have a
stronger hold upon the channels of the
circulation.
Mr.. Anderson, of Kansas, regarded the
bill as proposition to remove one of
the safeguards provided against the en-
croachment of the national banks, and as
| Republican he appealed to the Republic.
cans not to yield hairs breadth to the
national bankers, but to retain the safe
guards which had been placed around the
national banking act by its trainers. He
was not a financier, but he had horse sense
enough to be ready to oppose anything the
n tiona ha uRaro xuaptod
| Mr.. Pendleton of West Virginia fa-
vored the bill. Mr.. Lane, of Illinois,
opposed it. The latter said the bill was not
| in the interest of the farmer or the laborer,
but in the interest of bankers and God
knew they had received the benefits of leg
islation for the last twenty years.
| Mr.. McRoe, of Arkansas opposed the
bill, regarding it as directly antagonistic to
the free coinage of silver 1t was nothing
but an effort on the part of the banks to
increase the price of bonds held by them.
| After further debate Mr.. Cannon, of Illi-
nois, gave notice of u proposed substitute for
this bill as follows:
THAT national banks now organized, or
hereafter organized, shall not be required
/ to keep or deposit with the treasurer of
| the United States, United States bonds in
excess of 81, 600 as security for their circula-
/ ton notes, but such banks shall
keep ON deposit or deposit the
amount of bonds in excess of this
amount authorized to reduce their cir
culation by the deposit of lawful money as
provided by law, provided that amount Of
such circulating note shall not exceed in
any case 80 per cent of the bonds deposited
as herein provided" The bill then went
over.
Mr.. Peters, of Kansas, introduced bill
which was referred. setting apart certain
land in No-Man's- s-Land for theprcpagatior
of buffaloes. Adjourned.
HOUSE.
Mr.. Taylor, of Ohio, called up the motion
made yesterday to table the motion to re
consider the vote to erect three United
States prisons. The motion to table was
agreed to- Yeas, 1862; nays, 112.
Mr.. Dorsey, of Nebraska, from the COM
mittee on banking and currency reported
the bill to provide for the issue Of circulate
ing notes to National banking associations
The house passed bill providing that in
cases of pension claims of dependent par
ents it shall be necessary to show to the
pension Office that the parents are without
other friends or without other means oi
support than manual labor.