Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-01-31
ADMINISTRATION BANKING BILL
VIII lie Reported In IA Much Amend
ed Form.

Washington, Jan. 3O.-The admins
trGtion banking bill will be reported to
the fouse from the committee on bank
ing and currency in q much amended
form and with a non-commlttal rec
ommendation that 1t be considered.
The Republicans supported the bill
after securing several amendments; In
deed, most Of the changes made orig
mated with the opposition. The bill
win be reported to the house Friday
with the presidents message, and as
the report will neither be for nor
against 1t, every member has the privi-
lege of filing his views.
After the various amendments had
been disposed Of today a motion was
made that the Carlisle bill. with the
state bank clause eliminated, be substi-
tuted for IT. This was lost-9 10 4,
Black Cobb Cox and Hall. Democrats,
voting for It. A motion to report with
the Recommendation that it do not pass
was lost-l0 to 8, Cobb. Black and Hall
supporting It, and the fnal motion.
that 1t be reported without any recon-
mendation. was carrled-1O to 8. Cobb
OF Alabama. Black and Hail in the OPP
position.
The members who voted for the last
motion were Springer, Sperry, Cox,
Cobb of Missouri, Warner, Democrats:
Walker, Brosius. Henderson. Russell
anu lluuEHeyt INepuDllCdnS.
The amendments which the committee
have recommended to the admlnlstra-
ton are as follows:
The bonds, which by the original bill
We're payable fifty years after date,
are made payable at the pleasure of
the United states after ten years from
the daTe of their issue and are due ff-
ty years after date. The section which
requires the legal tender notes and
treasury notes when redeemed in gold
to be cancelled and not reissued, is
amended by adding the following, Of
fered by MIR. Russell.
Provided, That the amount of such
United States notes and treasury notes
which may be cancelled and retired
shall not exceed in the aggregate an
amount equal to the additional circu-
lation taken out by national banks, af-
ter the passage Of this act.
Section of the act IL amended by
adding, on motion of Mr.. Haughey, the
following:
And in lieu Of all existing taxes,
every association shall pay to the treas
ury Of the United States in the months
| of January and July n duty of one
eighth of / per cent each half year
upon the average amount Of the notes
issued TO 1t by the comptroller of the
| currency.
on motion of Mr.. Brosius. the fourth
section of the bill, which provides that
| national bank notes of less denomina-
! ton than $40 should be retired and
| cancelled and an equal amount in de-
nominations of $40 and upward should
be issued in their places, and that sill
| yer certificates now outstanding larger
than SO should be retired and the sill
/ yer certificates of denominations OF
| less than $40 should be issued In their
stead, was stricken out.
on motion of Mr.. Walker, section D.,
| which requires duty on imports 10 be
paid in gold coin only, was stricken
out,
Mr.. Walker also moved an addl-
ton, to be known as section b, which
was agreed to, as follows:
Section 8. That from and after July
/, 1895, ten per cent Of the cash reserve
required by law shall be kept in coin
or coin certificates, and not less than
half of such coin or coin certificates
shall be in gold coin or gold certlli-
Gates. and such cash reserve required
by law should be kept in coin or coin
certificates In amount increased by 10
per cent of the whole cash reserve re-
auired to be kept by them on ana atter
the first day Of each quarter OF tne
calendar year until the whole cash re-
serve shall be in coin or coin certiii-
Gates, and not less than one-halt or
such cash reserve shall at all times
be in gold coin or gold certificates.
ON motion of Mr.. Warner, section
was amended, so as to provide that
so much of all laws and parts or laws
as limit the amount OF lawful money
which may be deposited during any
calendar month for the purpose of with
drawing national bank circulation, OF
prohibits any national banking asso-
citation from receiving any increase
of its circulation during the period 81