Omaha daily bee., 1892-02-29

tlonal banking laws shall be repealed. Others
attack it indirectly. Watson of Georgia. WHO
Is the most rabd of the fat and inflationist
Leaders, and probably the most ridiculous Of
the would be leaders OF the new element In
congress, has bill which proposes to repeal
the act Of July II, 1882, which enables ma
tional banking associations to extend their
corporate existence. Senator Call of Florida,
who has had long o. perience in congress, has
a bill before the senate which, In three lines,
provides that national banks shall DO pro-
hioited from paying or receiving interest on
deposits made by national banks This IL
intended to break up the present system OF
exchange and reserve agency credit, which is
one of the foundation stones of the national
banking system.
Restrictions Advocated at Present.
One bill has already passed the house bear
ing upon the national banking system. and 1t
will, IN all probability, be adopted by the
senate. IL was introduced by MIR. Harter of
Ohio ana in a word, provides that no ma
tional bank shall make any loans to its presi-
dent, vice president its cashier, to any of Its
clerks, tellers, booSkeepers, agents, servants
or other persons in it's employ until the prop
osition to make such loan, stating the
amount, terms ana security offered therefor,
shall have been submitted in writing by the
person desiring the same to meeting of the
board of directors or executive committee OF
the board and approved by majority of the
same. 1t provides furtncr thai none of the
officers of national banks shall be permitted
to overdraw their accounts or become secur-
ity for any paper belonging to the banR.
This bill is admitted on all hands to be just
one in tho interest OF safety to deposltors and
the public. 1t is not at all probable that any
other bills affecting national banks
will become q law. There Is one PROPOSE
tion which has not yet been made to
congress. which is a very important one in
relation to national! banking, and which will
undoubtedly become a law il it is presented
in time for consideration at this session. 1t
is believed that there will be All Investigation
of the office of the comptroller of the currency
with special relation to the failures of the
Spring Garden and keystone National banks
OF Philadelphia and the Maverick of Boston.
1t will be remembered that the comptroller of
the currency was charged with dereliction of
duty in the closing of those banks at late
day and In the modes OF settlement of the
business OF the banks.
More Bank Exa miners Required.
1t is undoubtedly true that there are not
mere than half as many national bank ex-
aminers as there should De, and men who
have taken especial interest in the subject
say they will present a bill providing for a
large increase of the bank examining forces
and reorganize the system. One OF the prop
ositious in this direction is to appoint from
among the banking forces in each city hay
ing, say four or more national banks. an ex-
aminer who will look alone to the banks IN
his city The idea is to have in each city
an examiner who will keep close run of the
values of the securities held by the banks,
and the commercial standing of borrowers.
| or course such proposition would have
certain safeguards thrown about the exam
! iner which would make it impossible for him
| TO show favoritism or give more leniency
| than is now extended The trouble with the
| examining system is that there are not
| enough examiners, and some banks have not
| had their examination for periods nearly
| twice those required by the law. To give
| emphasis to the necessity for an increase IN
| the examining force the fact Is pointed out
| that nearly all BANKS which have been closed
| during the past year had not been examined
within the time prescribed by law, and the
| closing occurred immediately after the eX-
| animation was made.
miscellaneous.
Senator Shoup says his bill donating to the
territory OF Utah sixty acres off the west side
| of the Fort Douglas military reservation al
| Salt Lake for a site and campus for the Utah
| university will pass the senate soon.
1t Is believed the bill of ex-Secretary and
| Senator Proctor providing for the promotion
l of enlisted mon OF tho army TO the grade OF
! second lieutenant, which has been favorably
reported from the military committee to the
senate, will pass probably this week.
s. A. White and wife Of What Cheer, Ia,
| are at the Ebbitt
Mrs Brown, the mother Of Mrs. Mander
| son. is in more hopeful condition tonigh,
| than Sne was taSJ evening anu ueF CouultlOL
/ is somewhat improved.
| Tie tea to be given by Mrs. Carey ano
Mrs Warren, wives of Wyoming's senators
| at the Arlington tomorrow afternoon prom
| ises to be very largely attended and q great
| success.
Mrs. Russell B. Harrison expects to visi
her parents, cx Senator and Mrs. Saunders
| in Omaha very soon
Assistant Secretary Crounse has returned
from five days stay in New York on ofticia
| business.
| ]. M. Jones and wife Of Iowa are at tn'
! Randall.
| A committee of the house will, it is stated
| investigate the question of leases and thu
| letting of privileges in the Yellowstone Ma
| tionai park. 1t is said there will be some in
| teresting developments.
Senator Shuoups blu appropriating 5000,
600 for the purchase of site and construc
| tion of federal building at Boise City,
| Idaho, will probably pass the senate this
| week. p. S. H.