The times. [volume] (Richmond, Va.) 1890-1903, 1894-06-06
BANKING IND CURRENCY.
A Further Discussion Of the BiIl to Repeal
the sfnte Rnnk Inx

the Sta'e Rank Tax.
WASHINGTON, June 5,-Immediately
after the routine morning business OF the
House Mr.. Catchings reported from the
Committee on Rules an order respecting
the further consideration OF the Dill 10
repeal the State bank tax.
Ii provided for discussion throughout
to-davs session under the five-minuie
rule. the vote on pending amendments
and passage to be taken lmmeulately
after assembling of the house to,m0rroN'
Leave to print remarks on the Dill was
granted TO all members, the privilege
TO extend over a period OF ten days.
After a short debate between Messrs.
Rodes and Catchings the resolution was
agreed to-93 to Il.
Gir Springer presented the substitute
of the Committee on Banking ana Cur
rency for the original Brawley bill, as
That the operation Of sections 3il2 and
2n3 Revised Statutes, and sections 49,
% and q OF the act 10 amend eNlsunB
customs and internal revenue laws ana
for other purposes. approved February
S. 1875. and all other sections of said
Revised Statutes and all acts and parts
Of acts imposing tax or ~ per cent. on
the amount OF certain notes when used
for circulation and paid out, be and are
hereby suspended as To any such notes,
which were originally issued between
August, 1893. and october 70. 1873 and no
such tax shall be collected on the amount
OF any such notes; provided. that nothing
herein shall suspend the operation Of such
acts 10 the tax on amount OF any s9ch
notes paid out and used Tor circulation
Mr. Cox (Tenn) offered his amend
ment, repeating all laws and parts or
laws which impose tax upon State
bank circulation.
WHO RUNS TIE GovFBNMFNr?
Mr.. Bowers Rep.. Cal) said the bill
was intended as a premium upon the vio-
f,4 ,f "A n2fl0HAllQn
that having made their pile. the law
would not be enforced against them Tor
subsequent violations, ana announced 10
the country that the New York banks. like
the New York newspapers, were 10 run
the Government.
Mr.. Grow (Rep., Pa) said a National
bank was just as much local bank as
though il had been chartered by STATE.
The system v-ts all right; IT had been
passed upon by the courts; 1t was III
successful operation: but change the CON
ditions under which circulation was IS
sued, so as 10 give IL more eiastNlty anu
greater volume. -, 49,. nar
cent. tax law should be repealed pecdusT tis,
AZ was intended as a measure oi na
ton to the National bank sysleil" -, s'.r'
that system no longer needed prov az 4,
When the National system was eeau, 90 80, ~
must be I'm time there would pe uNis.
10 the country If state issues are theh 10
be fioated as an experiment. =. ,,o,la
Ar m bert Dem. : 60 aic ne VIZ"
vote for the Brawiey bill and for the re-
neal OF the ten per cent. tax TOT trs rea, "a,
Son that the latter was in the Democrats
1y'i ni"ts"r'n For him. ne said. party. plat
forms were made not only to set IN III Tn,
MT 70 stand on after he got In. Genie
49,, no came into the House after nav
ing" ing been elected on a Democratic plat
form and repudiated the platform; M spesrb pesr,b
ing themselves over the race ., I'D .ae moi be
and not knee deep anywhere, neeu ny ,e re
snrnrised sr' II the people repudiated theih
and the Democratic party. .ra asa,rst
Mir. Quigg Rep., n. !? spenis psis,ssy ns@'nss tax
the proposition 10 repeal tne eN'''''e ''~
on State bank issues
RrrusHp TO SPEAK
Mr.. Harter Dem. Ohio, S.s desired ed soaa an
hour In which to present MA MI iS'vsas ,a
~hy the State bank u~ 'N'@1