The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1893-08-15
STATE BANK TAX LAW
Senator Gordon's Bill to
Suspend lis Operation
for Six Months.
silver DEBATE IN THE HOUSE.
Immediate Consideration Of Senator
Voorhees, Currency Bill
objected To.
liver DEBATE In THE HOUSE.

WASHINGTON. Ang. Is. 1898 1T Is now
positively stated that uatll the House
has finally acted upon the propositio on tt
repeal the purchasing clause of the
Sherman act, the Senate will do nothing
in that direction. Tns steering CO n
mittee has ceased its efforts to steer for
the present. Whether the Democrats
in the Senate eau finally get
| is matter about which there IL
more or less conjecture. "Why is there
any necessity for such actions Why
| should we endeavor to unite on a propo-
sition TO kill thing that is already
| dead?" said member of the steerin g
| committee yesterday. and he continue |.
Everybody knows that the Sherman
law cannot be repealed uncoudltioually.
| The course of debate in ths Senate In
dicates the conclusion reached bv che
| committee. inasmuch as 1t starts out
| with everything favorable for a two
weeks desultory discussion. cen sistjng of
| set speeches on finance anu the right OF
members to their seats.
SENATOR LODGES MAIDEN SPEECH.
The Senate will probably have an op-
portuntty today of measuring the ora
toricaI abilities of the young Senator
! from Massachusetts, Mr.. Henry CABOT
Lodge. Mr.. Lodge. after the routine
morning business will call up, and ad.
dress the Senate upon the resolution
offered by him last Tuesday iustructing
the Committee on + nance to report Il
bill for the uncondit ioual repeal OF the
Sherman act.
It is not likely that any vote will be
taken on the resolution. 1t will still re-
main on the table, and will not be pressed
to vote.
LEE MANTLE's CASE WILL GOVERN THE
OTHER TWO.
The question of the right of Mr. Lee
Mantle TO q scat in the Senate from the
State OF Montana, under the Governors
appointment, will afterwards bs tax en-
up and (under the notice given by Mr.
Hoar yesterday il will be kept before the
Senate to The exclusion of all other bu si-
ness except that pertaining to the morn
ing hour.
The decision of the Montana case will
govern the two like cases from the States
of Washington aud Wyoming, so that
the question is one OF great Importance
even in its possible relation TO the silver
issue.
AS TO THE HOUSE COMMITTEES.
'"ThOse numerous specullIions bout
changes in the chairmanships of the
House Com mittees cannot have any
foundation in fact" said Mr., Spr niger
meditarively. II have Speaker c risp's
word for it that he has not discusse d the
matter with any one. consequen tly the
newspaper gossip on the subject must
hayeorigina atedl with interested parties or
-thsif-frieuds.
Besides. there is another element In
the matter that is lost sight of No more
committees can be named until we have
adopted our rules. The House has not
yet decided what committees it will au-
thorize. 1t may conclude 10 abolish
some, 10 consolidate others, or to create
new committees. All this has to be de-
cided yet.
Under the rule we have adopted as to
the silver debate, the Committee on
Rules can not even bring the q uestion up.
except by unanimous consent, until we
have disposed OF the SILVER uestion.
Even il the committee got unani-
nous consent 20 report set of
proposed rules 1t is utterly unlikely those
rules could be adopted without debate.
So you see we cannot reach the COM
mittee question until after August g.
or course Speaker Crisp is giving the
in The meantime, but he is keepiue his
own counsel; am sure of that"
TO GUARANTEE NATIONAL BANK DE-
PosITORs
The latest proposition called out by the
financial stringeucy is that tho United
States shall guarantee the depositors in
national banks under certain conditions.
A bill has been prepared and will prob
ably be introduced IN the Sen ate by Mr.,
Hnnton, OF Virginia, which en acts as
fo1lows:-
Section |. Every National Bank existing and
doing business at the date Of the passage OF this
act, shall, as soon as practicable thereafter. re-
port in writing its true financial condition to the
Secretary OF the Treasury, and il found by said
Secretary to be In solvent condition deposits
thereafter made in such bank in good
faith, tn the due course of business, by
persons not officers of the bank, nor stockhold-
nsss shall be, and they are hereby guaranteed
by this United States to be paid to the deposit
tors, or their lawful assigns, or transferees
when drawn by draft or check, but no person
shall be allowed to overdraw his account in any
manner
Section 2. To indemnify the UExed States
from loss by reason of the guarantee given and
made in the first section Of this act an annual
tax is hereby levied on all deposits here q fter
made in the banks described in this act, equal
the said tax shall be paid to the Secretary of the
Treasury on the last day of each month of the
year ON the deposits of that month
IN THE HOUSE TODAY.
After prayers snd the reading and ap-
proval OF the journal (before small
attendance of mem bers), Mr.. Burrows
(Rep. Mic h.) offered resolution giving
Charles b. Belknap the right tn contest
The seat of George f. Richardson from
the Fifth district of Michigan.
Mr.. Richardson (the sltting member)
asked that the resolution be laid over
till tomorrow and it was so ordered.
The silver debate was then resumed.
Mr.. Hutcheson (Dem., Texas) conciud-
ing his remarks begun yesterday in
favor of the free coinage of silver.
Mr. Hutcheson was followed by Mr..
Blanchard (Dem., La.) W ho spoke in favor
OF free coinage.
SENATE PROCEEDINGS
The Committee on Finance, by n prac-
ttcally unanimous vote, this morning.
decided 10 report favorablY the bill
introduced yesterday uy Mr.. Voorhees,.
providing for the issuing of circulating
notes 10 all national banks to she par
value OF Government bonds on deposit TO
secure circulation. Mr.. Voorhees, will
endeavor to put the bill on its passage
today.
The Finance Committee this morn
Ing decided to hold daily sessions,
beginning Thursday next, during
which time they will endeavor to reach
some conclusion on the silver question.
Sena or voorhees, subsequently notified
the Senate OF this action aud asked for
authority to sit during the sessions of
the Senate.
MR.. GoRnoN's RELIEF BILL.
Mr.. Gordon Dern., Ga.) has introd uced
Dill TO suspend for six months the oper-
alton OF the law taxing the notes of State
banks ten per cent. He prefaced its
reading with = statement in which he
Claimed that the passage OF hts bill (if