Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-12-22
ANOTHER CURRENCY BILL,
Springer introduced 1t Yesterday
Afternoon.
SOME VERY RADICAL CHANGES
Frcm the Original Carlisle Bill That
Was Dobst-d.
A hot Debate in the nouse--rhc re-
pubtieans deer ut the Statement
That Democrats Are Trying 10
Save the Country.

oaNt INV tbuhNes
Washington. Dee si,---After confer
ences between abe members OF the
house committee on banding and cur
rency and with the approval OF tho sec
rotary OF the treasury. Mr. Springer
today introduced substitute Tor the
Carlisle bill. That is substantially a
new measure. although some scotioas
of the original bill arc retained Ia the
new one. The bin is arranged 80 an to
chow the now features IN paren,hesis,
The frst section is as follows:
a. That 30 much OF all acts and parts
OF acts as require or authorize the de-
posit OF United Staten bonds 90 re-
euro circulation notes Issued by ma
tional bank associations Tor as re-
duire such associations to deposit or
keep on deposit United States bonds
for any purpose except 40 security for
public money! be and the Same hereby
are repealed las TO associations taking
out circulation under this actl. and
such notes shall not contain the state
ment shat they are 50 secured.
Section is changed SO that banks
Gun not only deposit legal tendera 10
secure circulation, but aiHo currency
certificates issued under section uig3
OF the revised statutes OF tho United
States,
section : Is retained entire, except
that It's provisions are restored 20 APP
ply 10 national bank associations TAX
ing out circulation under this actn
Section 4 inserts the comptroller OF
the currency az the oilloer to designate
the place where notes are TO be ro-
deemed.
In section 0 provision Is made Tor
keeping up tho safety fund aud IN nd-
dltion to the terms OF the original bin
II IL provided that 4he collection Oh
said tax OF one fourth OF one per cent
for each half year ahall be- rcaumed
and continued until. the unid fund 10 re-
stored 20 an amount equal TO per
cent OF the total circulation oulsiand-
ing, AL circulation notes OF failed
national banks not redeemed ON nro-
sentaton TO tho treasurcr vi tile United
States u an assistant OF the United
Stntcs treasurer slrall bear interest at
. per cent per annuin from date OF
the suspension Of n bank Until 80 days
after public notice has been given that
funds are on hand for their redemption
and such notes shall constitute n first
Hen upon all money gheteaftrr received
Into the safety fund"
section g. allowing the secretary OF
The treasury TO Invest money ia the
safety fund In bonds. 10 tie same as
in tho original bill.
Section Is entirely new. and takes
the place OF a section which hun been
eliminated. The now section ~ as
follows:
See z, That every national banking
association heretofore organized and
having bonds on deposit to secure cir
oulation may withdraw such bonds
upon the deposits or lawful money Of
the United States now provided by law
and thereafter such associations may
take out circulation under this act
and be entitled to all rights. prlvi-
leRes and immunltles herein conferred.
Sec. <. Specifies that the portion OF
the nwtionnl banking act to be repealed
u limited to no much OF section ~, "a
directs the secretary Of the treasury
% receive deposits OF gold and 10 issue
certlhcates thereon,
Sec. .. Is substantially the same as In
the Original bill.
Sec. 10. Providing for state banks.
is also tho same aa IN the original bill
except that IN the restrictions on sthie
banks n new provision - mnde that the
guarantee fund maintained by them
may include currency certificates H.
sued under section 5lg3 OF the revised
statutes"
An entire new provision 10 added 10
the state banks as follows: Whenever
the secretary OF the treasury ana the
comptroller OF the currency shall be
satisfied that any banking corporation
duly organized under the laws OF q
state that transants no other thar
banking business the laws require that
stockholders shall be duly liable for the
redemption Of circulation TO the full
extent Of their ownership OF stock,
md that such laws require that such
circulation notes thereof shall coustl-
tute a first Hen upon all assets Of the
bank and that such laws require The
banks 10 keep on deposit at an times
with an officer of the state authorized
20 receive ana hold the same. a g'iara,n--
tee fund rs required IN the
fourth paragraphs uf this section,
thoy shall issue 70 said bank a Ger.
tiiicRte TO that effect Thereupon nnid
bank may issue Its notes a9 provided In
this act.
Most or section II Is new and IN M
followe. the new portions being III
parcnthesig:
Sec, ]. Tint any banking association
organized under the laws OF any atate
may deposit with the treasurer OF the
United States legal tender notes and
receive certificates therefor in tho
manner provided for in section sia5 Of
the revised statues OF the United States
land the secretary Of the treasufy may,
under proper rules and regulations 70
be established by him permit suri
banks to procure and uEo IN the pre-
parail6n OF their notes the distinctive
paper used In printing United States
gecurities. but no state bank shall print
or engrnye It's notes 70 sinlltude OF a
United States note or certificate or
national bank note.
HOUSE PROCEEDINGS.