The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1894-01-26

toissuc aud sell shorter bonds other obligations
hearing lover rate of interest than that spccl.
lied la the existing law is granted by congress
NJ very cssiv day, | shall feel constraincd by
a sense OK public duty To exercise tho power
already conferred, 70 the extent nj lcsst OF pro.
ducing m adequate coin reserve.
II THIS aetiol should be iaxcn. congress
ought, nevertheless. 10 provide promptly for
the deficiency ia the revenues curing the eur.
rent ts sal year, and Will. from Tins 10 time,
advise your committee 81 the condition of the
treasury In order that this subject may receive
due consideration. ! have the honor TO be.
yous very respectfully.
J. a. cAnrEsrE. Secretary.
ExENPfYHo TAXATION
Section 3v7i Of the Revised Statutes prc-
vldcs that ell stocks. bends, treasury notes
aud other obligations q; the United States
shall be exempt Rom VACATION by or under
state or municipal or kocal authority"
On account al this general statute Il vas not
proposed in the Tin which the secretary OF the
treasury laid tcfore the senate finance com.
mitteo In the early part Of last week 20 make
any provision conccrning the taxation Of the
bonds which he Is asking congress 70 authorize
him TO issue.
The house OF representatives, by . rule
adopted some time ago. has dedicated all
us time until the seth OF the present month
to the consideration OF the Wilson tariff
bill, and therefore II would have been inn.
possible for the secretary OF the treasury
70 procure any legislation IN that body before
that time, and for this reason Secretary Car.
Isle thought II necessary to make the applics-
non first 10 the committee on finance OF the
senate. which he hopes will act upon the meas
ure IN time TO provide the necessary means for
the government.
.cARIlsLE's BILL
The bin which is referred to in the
foregoing litter and which he referred
to, is as follows:
An act TO ammend section 3 OF "ar act 20 pro
vide for resumption OF specie payments y ap
proved January H. 1878
lie II enacted by the senate and house OF reH
rcscntatiyrs OF the United States OF America
~ congress assembled. that section OF AN
act TO provide for resumption OF specie pay.
ments. approved January IA. 1875. lie and the
same Is hereby so amended that in lieu OF the
descriptions OF bonds therein authorized the
secretary Of the treasury Is hereby author.
lied 10 issue from time to time. as he MAJ
deem necessary. AM in such form a. h.
may prescribe. coupon or registered bonds
oi tAe tRi'ed States in denominations OF as
aud multfples thereof reieemahlc in coin q,
the pleasure OF the United States after
years from sale. hearing interest Ut u rate no.
exceeding per cent per annuE. payable cUer
terly In coin AMI to sell the same at not less
than par IN coin and the proceeds Of such
nonis shall be held and used 10 maintain abe
parity ~ all forms OF money coined or issued
rs the United States. but the secretary of the
treasury IS hereby authorized TO use from tluic
TO time such part OF such procec Is may be
necessary TO supply deficiencies la the px bite
revenues during the fiscal year 1894
Sec. : sum sufficient 10 carry the gro
visions OF this act into effect is hereby appro-
pria,.d ont OF any money In the treasury rot
otherwise Appropriated.