The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-06-06
VOTE ON REPEAL AT HAND.
The House Votes to End the Fight
This Morning.

Substitute for the Brawley Bill-Mr.
Cox Offers an Amendment to Repeal
All laws Imposing a Tax on Bank
Ciroulation-Mr. Livingston Advo-
Gates Repeal Talbert Stands by
the Brawley Bill-Mr. Lane as a
Hard Money Man.
Washington, June 5. - Immediately
after the routine morning business of the
House was finished this morning, Mr.
Catchings reported from the committee
on rules an order respecting the further
consideration of the bill to repeal the
state bank tax. 1t provided for discus
sion throughout today''s session under
the five minute rule, the vote on the pend
ing amendments and the passage of the
bill to be taken Immediately after the as
sembling of the House tomorrow. Leave
TO print remarks on the bill was granted
to all members, the privilege to extend
over period of ten day. After short
debate between Messrs. Reed and Catch
ings, the resolution was agreed to by a
vote of 90 to II.
Mr.. Springer presented the substitute
of the committee on banking and cur
rency for the original Brawley bill as
follows THAT the operation of sections
34I2 and 3413, revised statutes, and sec
tions 10, 20 and 2l of the act to amend cx-
listing customs and internal revenue laws,
and for other purposes, approved Feb, s,
1870, and all other sections of said re
vised statutes, and all acts and parts Of
acts imposing a tax of 10 per cent.
on the amount of certain notes
when issued for circulation and paid out,
be and are hereby suspended as to any
such notes which were originally issued
between Aug. /, 1893, and Oct. 10, 1898;
and no such tax shall be collected on the
amount Of any such notes; provided that
nothing herein shall suspend the opera
tion of such acts as to the tax on the
amount Of any such notes paid out and
used for circulation after Jan. /, 1894"
COX OFFERS AN AMENDMENT
Mr.. Cox offered his amendment repeal
ing all laws and parts of laws which inn
impose tax upon state bank circulation.
Mr.. Bowers, rep, of California, said
the bill was intended as premium upon
violation Of the law a notification to the
banks that, having made their pile, the
penalty of the law would not be enforced
against them for subsequent violations:
and a notice to the country that the New
York banks, like the New York news
papers, were 10 run the government.
MIR. Grow, rep, of Pennsylvania, said
national bank was just as much local
bank as though it had been chartered by
q state.
Mr.. Livingston, dem, of Georgia, said
the 10 per cent. tax law should be re-
pealed, because it was intended as a
measure of protection to the national
banking system, and that system no
longer needed protection.
TALBERT SUPPORTS THE BILL.
Mr. Talbert, dem, of South Carolina,
said he would vote for the Brawley bill
and for the repeal Of the 10 per cent. tax
for the reason that the latter was in the
democratic platform. For him, ne said,
party platforms were made not only to get
in on but to stand on after he got in. Gen
tlemen who came into the House after
having been elected on democratic plat
form and repudiated the platform,
spreading themselves over the face Of
the earth, and not knee-deep any where"
need not be surprised if the people repu-
dated them and the Democratic party.
Mr.. Quigg, rep, Of New York, spoke
against the proposition to repeal the ex-
isting tax on state bank issues.
Mr.. Harter, dem, of Ohio, desired an
hour in which 10 present his reasons why
the state bank tax should be repealed
and Mr.. Cox, dem, of Tennessee, asked
that it be given him-some gentleman on
the other side to be accorded the same
privilege. Objection was made, however,
and Mr.. Harter proceeded, saying he had
no ambition to rise simply to have his re-
marks extended i'll the record.
HARD MONEY MAN.
Mr.. Lane, dem, of Illinois, said he was
a hard money man, believing that all eX-
cept gold and silver was a make believe
money only. He desired to bear witness
to the fact that paper money, however, of
the United States was the best in the
world. 1t was fallacy to assert that
money was issued by the banks; it was is
sued by the government through the
banks MIR. Lane said man who hap
peued to have a state or county bond had
no more right to issue notes upon that
security than he had TO issue them upon
the security Of 400 acres Of good farm
land.
Mr. Broderick, rep, of Kansas, said the
bill was obnoxious: it was class legisla-
tion Of the worst sort. II the tax was a
good thing when passed it should be en-
forced until the law had been repealed.
Cox's PLAN AGREED TO.
The arrangement sought to be made
early by Mr.. Cox, was then agreed TO-
The last two hours, from to 3 o'clock,
were divided between the two sides Mr.
Harter, dem, of Ohio. to occupy an hour
in favor Of the repeal Of the state bank
tax, and Mr.. Dingley, rep, Of Maine, TO
control an hour in opposition to the re-
port.
Mr.. Campbell, dem, of New York, had
read q letter from Conrad N. Jordan, ex-
United States treasurer, and president Of
the Western National Bank, of New
York favoring the repeal Of the tax law.
Mr.. Gear, rep OF Iowa gave a leaf or
two from his personal experiences with
the issues Of state banks in ante-war
times as reasons, why in his opinion, the
people Of the country would not return
willingly to that system Of currency.
Mr.. Harter said that the trouble with
the country was not that it should suffer,
from an insufficient volume Of currency,
but from the quality Of the currency, its
inhexibility and inability TO perform
promptly the purposes Of money at the
places where it was needed A new sys-
TEN was essential to renewed aud con
tinued prosperity Of the country, and his
belief was that if a proper system of state
banks were esta blished, by the end Of the
century, the country " ould do its bust
ness upon volume of currency Of less
per capita than the volume Of currency
today.
THE STATE BANKS IN THE PAST.
Speaking Of the work accomplished by |
the state banks in the past, Mr.. Harter /
said the government never had such 1
friend nor such an efficient ally as the |
state hanks Of 1850 They were stronger |