The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-02-02
FINANCIALLEGISLATION.
SOME OF THE BILLS INTRODUCED
ON THE SUBJECT.

Representative Cox Proposes an Ex'
change of Interest-Bearing Bonds for
United States Notes, With ths Right
to Redeem the Bonds-2epresents
tive Simpson Advocates Government
Loans on Farm Lands at 2 Per Cent.
WASHINGTON. Feb. 1.-The following are
samples Of the financial legislation proposed
to-day:
ITO increase the circulating medium by
the deposit Of United States bonds" is the
title Of bill introduced in the House by
Representative Cox of Tennessee. It pro-
vides for the exchange with the governments
of unmatured interest bearing bonds or obli-
cations of the United States by the holders
thereof for United States notes in an amount
equal to the par value Of such bonds OF oblia
cations, interest on which shall cease while
the circulations thus obtained remains. The
outstanding bonds or obligations may be
again obtained from the treasury by the
former holders by paying back the same
amount OF United States notes received foH
them.
GOVERNMENT LOANS ON LAND.
Mr.. Simpson of Kansas introduced bill
less than ten and not more than 800 acres
of land, one-half Of which is in actual culti-
walton, may be entitled to receive from the
United States treasury loan in amount
not to exceed one-half the assessed value Of
the land improvements, all loans to be
for not less than five nor more than ten
years, and TO bear interest at the rate of 2
per cent. To carry this plan into operation
"a bureau Of loans" is to be- established in
the treasury department, under the charge
OF commissioner. at a salary OF 81, 500 q
year. 1t is provided, however, that the
! lands must be kept free of mortgages
and claims and in good condition.
Loan agents are provided for each local con-
gressional district 30 examine into the titls
and assessed valuation OF the land upon
which a loan is asked, and upon investiga-
tion of these facts shall notify the treasury
commissioner. who shall remit to the
owner Of the land the amount asked
for on his property. Interest on these
loans must be paid yearly at the office Of
the loan agent, and he shall transmit the
same to the United States treasurer Upon
failure TO pay interest on the loan for two
| consecutive years the government mortgage
is to be forecIosed and the lands are to ba
included in the public domain.
AHBILL TO REDUCE TAXATION.
Representative Terry OF Arkansas in
| troduced bill to reduce taxation. increase
the volume Of the currency, encourage
American ship-building land extend Ameri-
can commerce. The bill provides that all
goods imported into the United States upon
| any ship, built registered, aud sailing uns
der the United States laws, which have
been taken in exchange or bought with the
proceeds OF sale Of any cargo OF
American products, exported to foreign
| countries, not exceeding in value the
market value, without duty, OF such Ameri.
can cargo, in such foreign country shall be
| entitled to q rebate of so per cent. of the
import tariff duties at all United States
ports. Upon certihcation of the value OF
articles landed from abroad gthe treasurer
OF the United States shall pay TO the owners
or assignees, in full legal tender notes, SO
per cent of the amount Of the import duties
paid on the goods