New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-09
CONGRESS MAY TAKE SOME ACTION
TWO MEASURES WHICH MAY 81 PASSED TO r.
LIFNI THE SITUATION

l.
Washington Dee. (,pcc aD.-Ihc hnahciaI sltua-
ton has attracted the attention OF all inc business
men I'm Congress and the --latest news from wall street
was eagerly sought TO-DAY. There i, a general lee
lief tha some immediate action 10y congress MAY nc
found to be necessary - relieve tht suiEc"N ]" Io
money naIhct. and il is also believed l'' H' c.c''
would be produced 10y such a move by '"''-''' Two
mea~urc, OF relief which are likely 10 DO PrN'0u '"'
Immediate action in Congress and 10y "hi'h IL i
io bo,t $40 600 600 would soon lie pat into cir1ua-
,io, may he singled out They are. first. the bill To
urovidc for the purchase OF silver bullion ana u"
confpe such purchase to the silver pi'iu'' VI INC
United states: and, second senator Nh'I'"" ''ii
IA reduce tie amount Of United states D"hdN 10 re II
ouied BY National banks and to restore To 'ns 'ha',
nels 81 trade the excessive ACCOMMODATIONS VA '
money in tie Treasury.
~, tho SiIver Purchase bill 1t is calculated that
nrovi.on VIII lie made for the immediate purchase OF
49, 600 900 ounces of silver bullion when VIII rave
the effect OF putting into circulation ABOUT FI''
600 600 of silver notes provided Tor ~ tle new oiN'
bill senator sherman says That his banking Dill
vouId have the effect Of adding about Slj0ooOoo TO
the present circulating medium The text OF te DiH
10 provide for the purchase OF SILVER bulA"h' upon
which Congress will be asked 10 act, is a. follows
That the Secretary Of Treasury i hereby directed
10 purchasc within thirty days after the approval OF u
act silver bullion the aggregate amount &" IoVV'oVV
ounce. now in the United States. much thereof As
la
exceeding 81 for 32 grains Of pure silver and to issue
in noruent for such silver Treasury notes, authorized by
the a o July II, 1890
see THAT the silver purchased under this act shall
be I'm addition to amount authorized to be purchased
monthly by the aforesaid act of July II, 1s9o
sec 3That the purchases Of silver authorized by the
aforesaid act Of July H. 1890 shall hereafter be limited
to silver bullion the product Of the mines OF th- thtu
States Of or base bars 'nclI'd or r'ih'o III N'
United States.
Ev the sherman Bond bill. the compulsory deposit
~ U,it,d STATES bonds with the Treasurer Of the
United states by National banks Is limited In auohn
f. j.OCO Of bonds for every National bank hiNIHE
a caui,al stock OF 100000 OF less. and 10 bonds
equal 10 3 per ccntSm of tie capital stock "i every
N3tiona, bank havn- capital stock III excess oil
500 900 But The voluntary withdrawal oi wrdN
for the retirement Of National hank notes + not T."
exceed -. 900 900 in any one month. And upon any
dcunsi1, ALREADY or hereafter made Of any United
states bcnds lcarng interest in the manner required
by law any National banking association htinG
the same IS 10 be entitled receive from the 'oni Her
Of the Currency circulating notes Of different denom
nations in blank. registered and CountrI'ch'u, rs
provided by law not exceeding in the whole amount
the par value Of the bonds deposited Whenever lhc
circulating notes OF Na'iouh bauh,. including such
noIcs in circuIaton represented ly lawful money
deposited by the bank in the Treasury for the
REDEMPTION Of such notes. shall he lc>, than $50
100000 the SECRETARY Of the Treasury Is authorized
10 ISSUE tinted >tatc~ notcs similar g. 'cfE~ and
description to ne 'uiied states u1lc- now oui-tInd
ug t. an amount equal ID the retirement OF Na'onM
bank notes below Sl70,OOOOVO
I'm, Secretary oI the treasury Is also authorized
ia Issue in sum or not exceeding Iu Tn"
aggregate S1OO,OOo.Oo0 coupon or rex stored b nd,
II the United state in such form a Ice NAV pr
Of That sum. I,dccmabIe ip lawful money AZ the
pleasure Of tie Tinted state, and bearing 1T ret
per TT MI, ,ct Al not les, than their par vauo
-. Nff r