St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-10-17

Officers and Directors of Ma
tional Banks From Borrowing
From Their Banks Discussed.
WASHINGTON, Oct. 16.-The house
this afternoon passed the McCreary bill
with the amendments offered by Mr..
Geary and MIR. Caminetti. The bill as
Geary law six months, defines Chinese
laborers and Chinese merchants. makes
mandatory Photographic Identification,
requires nlarshals to carry out orders
for deportation, jailing Cinnamon with
cut bail pending the execution of depor
tatiOn writS, aud excludes Cinnamon
convicted of felony from permission to
register. Mr.. Geary declares that the
bill as passed is perfectlyssatisfactory TO
the coast. and if enforced at
the expiration of the time limit
will settle the Chinese problem. Those
who depart will not-be able to transfer
their registration certificates and in the
course of time all will disappear from
these shores. The administration is
also satisfied with the bill, so Chairman
McCreary, of the foreign affairs COM
mite, ,avers. After the disposition of the
Chinese bill the bill to prevent officers
and directors of national banks from
borrowing from their banks without
written permission of a majority Of the
directors, occupied the time of the
house until adjournment.
Debate on the McCreary bill, to eX-
tend the provisions Of the Geary ex-
clusion act six months, was resumed at
the close OF the morning hour. Mr..
Blair, of New Hampshire, who was
nominated to the Chinese mission py
Mr.. Harrison, but whose eXecuatur was
not granted by the Chinese government
ON account of his hostile expression
toward the Chinese when the exclusion
act was passed i'll 1889, taking the floor
in favor of the bill. While he did not
think the McCreary bill all-embracing
in substance, it covered the policy upon
Which the government had entered with
the reference to the Chinese. If the
policy we have undertaken respecting
CHINESE IMMIGRATION
Is now to be mutllated. or modified, said
he, we might as well assume that the
tide OF immigration from all other di-
rections is to flow on unimpeded.
He strongly favored the photograph
ing identification clause on the ground
that no honest Chinaman could object
to this provision. 1t might furnish a
new rogue's gallery. but what of it? He
lndorsed the Geary law, unless, he said.
we. are merely tampering with the
policy of Chinese exclusion.
AT this point the senate amendments
to the bill providing for voters in the
cherokee stripweFe concurred in.
!. MIR. W NllSon, of Washington, character
lied the bill as one of the most remark
able ever presented to congress. The
eGeary law had passed by 1S6 TO 81. He
reviewed the alleged course of the ad-
mInistration in debating to congress
in nullifying the Chinese exclusion law.
For thirty years, said ne, the Demo-
cratic party has howIed about usurpa-
tion and Capitalization of political
power. There had been more centrali-
cation of political power. more uSurpa-
ton of the legislative functions by the
executive department since March 4,
than since the foundation of the repub-
lie to the present time.
+ At O'Clock, by the terms of the
agreement, the previous question was
considered as ordered on the bill and
the pending amendments.
MIR. Geary'S three amendments, con-
solidated into one defining the term
CHINESE MERCHANT,
providing for photOgraphing of regis
tered Chinese. and requiring United
States marshals to execute the deporta-
ton clause with dispatch, and providing
that pending its execution the China
man shall be confined and not admitted
to bail, were agreed to-120 to 10. The
vote was then taken on the McCreary
bill as amended. The rising vote re-
suited in 167 yeas and nays. Mr.Loud
made the point of no quorum. Tellers
were ordered. and quorum was devel-
oped. MIR. Loud's request was with
drawn ana the bill declared passed.
Mr.. Cox called up the bill to afford ad-
ditional safeguards for national banks.
Its sole object was to prevent officials
of national banks by combination from
absorbing the assets OF the bank.
In answer to lhterrogatOrieS by Mr..
Cannon and Mr.. Dingley, Mr.. Cox ex-
planned that the bill covered,in addition
to the officers of the bank, its directors
and attorneys.
In brokerage transactions, for in
stance, where broker, who happened
to be a bank director, is obligated to
raise, just before the close of banking
hours, some times hundreds of thou
sands to protect margins, although he
offer gilt-edged security. he must, under
the bill, wait until the directors can be
assembled to pass on his loan. 1t would
be undue hardship. 1t might result in
enormous loss.
|, Mr.. Cannon, of Illinois, said the pres
ent banking laws were sufficient The
! depositors and stockholders were amply
protected if the law were complied
with. His objection to the present bill
was that it would embarrass honest men
in the transaction of business. Mr.
Cannon stated that the losses by depos-
itors under the national banking sys-
tenn were comparatively small, less than
$4,000. while the amount now on de-
posit amounted to over 1900, 900, 900.
This bill would only annoy and harrass
borrowers. At 3 o'clock Mr.. Cannon
yielded for an adjournment.
Cut His Wife Up.
Oof e,oa;oO