The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-12-24
Nc Senate Finance RfI Ponnrted

WASHINGTON, Dec. 2S.-The Senate finance
committee has Just reported the finance bill
with an amendment striking out the provision
for the replacement of the deficiency in the ma
tlonal bank note circulation by the issue OF
treasury notes and inserting provision for the
issue Of e%00000,0O02 per cent. bonds, redeem
able at pleasure after ten years.
The measure was amended in two importans
particulars at this mornings meeting. The
hfsJ was the exclusion of section 4 of the bill
pfoVldlng thai when the national bank circua-
Ton rails below slg0,0O0O0O. the deficiency shall
De supplied by the issue of treasury notes based
on SILVER bullion purchases, If the silver can be
purchased. or II not. by direct issue of notes.
Ihe second amendment was the insertion in
tle place OF the section stricken out OF the fol-
loving: The secretary of the treasury is here
by authorized to issue in any sum or sums not
exceeding in the aggregate 500. 600 coo coupon
ana registered bonds Of the United States of
Sucn form as he may pres cribe and OF denOmi-
nations OF 500, or some multiple OF that sum, re-
deemable in lawful money AT the pleasure OF
the United States on and after July l. 1900 and
bearing interest, payable semtannually. at the
rate OF per cent per annum. And he is author
lZed 10 sell or dispose Of any bonds issued under
this act at not less than par value for auy law,
tuf money OF the United States or for gold or
silver certificates and to apply the proceeds.
thereof TO the redemption Of or to the purchases
OF any bonds of the United States. And the
bonds hereby authorized and the proceeds
tnereOf shall be used for no other DurpOS
whatever. And The sum necessary to paw tn
expense of issuing and dispOsing of said bond
IS hereby appropriated out of any sums of
money IN the treasury not otherwise appro
prlated.'
No votes were cast in the committee against
reporting the amended bill to the Senate. 1t is.
understood no one was bound to support the
measure. The Democratic members of the
committee or the House report as they did in.
the case OF the original oil, reserying the right
OF opposition.
Stewart today gave notice in the Senate
that when the Senate financial bill was called
up for consideration, he would move to amend
the amendment to the report of the committees
on finance by striking out the first fourth and.
fifth sections of the bill and insert the following
That any owner Of silver bullion not too base.
Tor the operations OF the mint, may deposit thei
slOO, at any mint Of the United States, to be
formed into standard dollars or bars for his
benefit ana without charge, and tbet a5 SAID
owners option he may receive instead IN equiv
alent therefor in treasury notes
Senator Reagan introduced his free coinage
amendment to the Sherman financial BILL with
the intention OF applying it to the caucus bill
reported this morning.
In the House, Blanchard, ofLouisiana, offered
for reference a preamble or resolution setting
forth the financial stringency and instructing-
the committee on banking and currency to
bring IN bill providing for such an increase Of
legal tender currency as viii bring up the circu-
lation TO about $50 per capita.
Burton, of Ohio introduced in the House d bill
to amend the Interstate commerce act by ad-
ding thereto a section relative to railroads
doing business partly In the United States and
partly in adjacent foreign countries. IL re-
quires such company to obtain from the ccm-
mission q license, by virtue of which IL is TO
obey and conform to the provisions of the in
ter-state commerce act For violation of the
ac5 the penalties of suspension of license for
| different periods are provided, during which
suspension customs officers shall prevent the
passage OF cars, etc. at their ports.