, 1890-12-11
TUESDAY,.
Piumb's Bin Relative TO National
Bank Deposits


Fort Behton, Mont, to change its loca
tion to Great Falls, and to change II:
name to that of the Northwestern Ma
tional bank OF Great Falls was passed.
The senate bill introduced at the last
session TO establish u public farm In
each county within the limits of the
republic was reported back adversely,
and indefinitely postponed.
Senator Plumb introduced bills to re-
duce the amount Of United States bond:
required of national banks, to replace
til cir surrendered notes and to provide
for the free coinage Of silver all oI
which were referred to the com mittee on
finance.
He also offered an amendment In the
Same terms to the bill now ON the calen'
dar so that the matter may be brought
before the senate independent OF any re-
port from the national committee. In
doing so he gave notice that II the cleo
tion bill is not disposed of at an early
day he would move to lay 1t aside fol
the time being, in order that the bills
just introduced by him and other meas
ures relating to tho financial condition
of the country may be considered.
The bill introduced in the senate by
Senator Plumb relative to national bank
deposits and silver coinage provides In
brief as follows;
That the compulsory requirement oi
deposits of United States bonds with
the treasury by national banks be linz
tied to 81 900 Tor each bank (this applies
to deposits of bonds to insure the public
moneys); that United States mint GER
titicates shall be issued equal in amount
to the national bank notes required since
1882, and hereafter retired; that the
present silver coinage law shall be
amended so as to direct the secretary oi
the treasury to purchase all the silver
bullion offered at u market price not 10
exceed 81 for 27l.2o grains OF pure silver
and TO issue treasury notes in pay Inent;
and when the price is for six months in
excess of the above figure, purchases to
be sus pended and all coinage TO be- free,
the bullion owner being privileged to re-
ceive standard dollars or treasury notes
at his own option. No certificates are to
be issued, and those in use to be replaced
with treasury notes.
When the minis of France, Bel gium
and Italy are opened to free silver coin
age at the ratio OF fifteen and one-hali
ounces of silver to one ounce OF gold, the
president by proclamation shall pro.
hibit the further coinage oil the standard
(4l2la grain) dollar, and receive deposits
of silver bullion for coinage Mt the rate
of 81 for 800 grains Of pure silver, coin
or treasury notes therefor to be issued
within one year after the proclamation.
The new dollar is TO contain 3l2La
grains of standard silver, to be full legal
tender, TO be coined ut the rate of not
less than 80, 500, 900 monthly until $500, :
900, 600 hns been coined, when coinage
will he continued at the discretion of the
secretary by recoining the present
standard dollar and the bullion ON
hand. At the discretion of the secretary
he may also cause standard silver bars
TO be issued in redemption of United
States treasury notes at the rate OF 81 Tor
400 grains.
Following is the amendment proposed
by Senator Plumbi
Same terms rs the bill above de-
scribed offered in lieu of all after the
enacting clause ofthe Paddock bill, now
on the senate calendar to amend the
statutes to provide for the organ ton
of national banks with less capital than
$4,000"
Mr.. Mcpherson offered a resolution,
which was agreed to, calling on the sec
retary of the treasury for a certified copy
of the accounts OF John i. Davenport,
chief supervisor OF elections of the south
ern district of New York, for the cleo
tions of 1884, 1886 and 1888.
A resolution by Mr.. Jones, of Arkan-
sas, calling on the attorney general for n
statement of moneys paid or called for
by the supervisor OF the First apd Second
congressional districts of Afkun sas In
connection with the late election, was
agreed TO, after the statement that he
had seen newspaper accounts to the
effect that the supervisor had presented
an account of S6OO0.
The election bill was then taken up,
and Mr.. Berry spoke in opposition. As
an illustration of the bad effect OF such
a law he referred to the recent appoint
ment by United states Circuit Judge
Williams, in Arkansas, of John Nc
Clure as chief supervisor of elections.
Judge Williams had, lie said, lost the
cor fidence of n large portion of the peo
pie in A rkansas on account OF his I'M
posing on them the very worst man in
all Arkansas to exercise the functions OF
that office. The same thing might oc.
cur in all other states where supervisors
are holding their Office for life. III the
ci rcuit court Judges were democrats, as
they are now Tor most part repub-
iicans, the bill would be advocated
on the other side OF the chamber. 1t
was, therefore, partisan measure.
Mr.. Berry savagely scored the super
vision of Mr.. Mcclure, and entered an
earnest protest against the bill as u
m easure designed to legalize fraud.
Mr.. Daniels spoke briefly, after which
Mr. George obtained the floor,
Mr.. Aldrich, from the finance com init.
tee, reported the house bill to authorize
the pay ymcnt of rebate in certain cases,
to correct the enrolment of the tariff!
bill and asked unanimous consent TO
have it considered but Mr.. Plumb OBJ
jected, and the bill went on the calen-
dar. Adjourned.