Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1893-09-14
CONGRESSIONAL.

/ Mr.. Butler. democrat of South Caro-
lima. and referred to the finance COM
mittee, repeating the 10 per cent. tax
on state banks.
A bill was INTRODUCED by Mr.. Calling
er, republican of New Hampshire, sup
elemental to the pension act of June
~, 1890 1t provides that except il
cases of esta blished fraud no pension
shall be suspended or withheld after a
notice of ninety days to the pensioner
and after a full and impartial inyes-
tigation.
Mr.. Cullom then proceeded to address
the senate in favor Of repeal. At the
conclusion of his speech Senator Coke,
democrat, of Texas, delivered a
speech against unconditional repeal.
At the close of his remark the senate
proceeded to executive business.
Washington, Sept. 5.-Mr. voorhees,
submitted a resolution September Z,
and until further order of the senate,
the daily hour Of meeting will be Il
o'clock.
Mr.. Faulkner Of West Virginia gave
notice that he would address the senate
on Friday next on the repeal bill.
At the conclusion of morning bust
ness, Nh. PETER of Kansas took the
floor and concluded the remarks COM
menced by him yesterday in support
of his free coinage amendment to the
repeal bill.
Mr. Stewart of Nevada then entered
upon long speech in opposition to the
repeal of the Sherman act.
Among the new crop of bills intro
duced in the house are several to repeal
the 10 per cent. tax on state bank cir
culation, and Nh. Harter (den.) of Ohio,
has prepared a bill under the prOvi-
sions of which national banks may
issue circulating notes up to = per
cent. of their paid-in capital ana SUI
plus without depOsiting bonds to Sc
cure it, and bonds now on deposit with
the treasurer to secure circulation may
be WIul4raWn. The United States is to
have a first lien on the assets Of any
failed national bank to secure its guar
anty of the banks circulation, and IN
case the assets are not sufficient to re-
! imburse the government, the cOmptrOl-
Ter of the currency is to make an as
sessment upon all the national banks
of the state in which the derelict bank
is located, divided pro rata according
| to their capital and surplus, to make
up the deficiency. Beside the rs per
cent Of circulation provided for as stat
ed, the banks may issue an amount
equal to 80 per cent. of their capital
and surplus, to be known as ''emergen-
cy circulation" secured by United
States bonds, and to pay a tax Of 6
per cent. until retired.
! Two bills have been introduced to
establish en- income tax, one of these
by Mr.. McRae (dem.) Of Arkansas is
a moderate measure, but the one by
Mr.. Richardson Idem.) of Tennessee is
radical in its provisions. This bill pro-
poses to lay a tax Of 2 per cent. on in
! comes of So 900 to $1,000; ; per cent.
on $1,000 to $4,000; 10 per cent. on
$4,000 to $4,000; Is per cent. on $780,
900 to $4,000; 20 per cent. on $4,000
! to $4,000; 30 per cent. on $4,000 to
| $10O,0O0; 40 per cent. on all over $780,
! 900.
Washington, D. c., Sept. 6.-The SEN
ate, by d vote Of 81 yeas 10 y nays,
agreed to the motion of Mr. VoOr-
hees, of Indiana, that the resolution
Of Mr.. Morgan for a select joint commit
tee on finance go to the calendar and
the senate proceed with the discussion
of the repeal bill
This was interpreted as a temporary
victory for the repeal bill.
The vote in detail is as follows:
Yeas-Allison, Blackburn, Brice, CAT
frey, Cullom, Davis, Dixon, Dolph,
Faulkner, Frye, Gallinger, Gibson, Cor
man, Hale, Hawley, Higgins, Hoar,
Hunton, Lindsay, Mcmillan, McPher-
son, Henderson, Mitchell (Oregon), Pal
mer, Pasco. Pettigrew, Platt, Quay,
Ransom, Sherman, Smith, Stockbridge.
Vest, Villas, Voorhees,, Washburn and
White Oa.)-37.
Nays-Allen, Bates, Berry, Coke, Du-
bOis, Hansbrough, Harris, Irby, Jones
! ark, Jones (Nev.), Morgan, PETER,
Perkins, Power, Pugh, Shoup, Squire,
Stewart, Teller, Walthall and Walcott
I-21
The opponents Of repeal wanted it
to appear that the repeal bill came be-
fore the senate by virtue of becoming
regular order Gt was now five minutes
past 2 o'clock. Teller made a remark
that the repeal bill was before the
senate not by vote but because it is
now regular order.
The yice-president said that in the
opinion of the chair the repeal bill was
before the senate regularly.
Stewart took the floor and continued
his speech begun yesterday. He yield
ed to Teller, rep, of Colorado, who
suggested the absence of a quorum.
developed, Teller temporarily took the
floor He intended, Teller declared,
While the debate continued, to see that
a quorum was present Stewart, rep,
Of Nevada, resumed. He read news
paper articles and authorities on mat
ter Of finance, and when his voice
slightly failed him, Allen, of Nebraska,
Mitchell. of Oregon, and the reading
|, clerk were called to his assistance
Voorhees, inquired whether Stewart
expected to conclude this evening; and
upon being informed by the senator
from Nevada that he preferred to con-
tinue in the morning, Voorhees, moved
an executive session. After short ex-
!. ecutive session the senate adjourned