The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1895-02-02
FINANCE COMMITTEE AT WORK
Voorhees, Bill knocked Clubhouse peo-
pie Make No Progress.

pie Make No Progress.
Washington, Jan, 29.-The proceed
ings of the afternoon session of the
finance committee were based on
bill which had been prepared by Sen
ator Voorhees,. The bill provided sim
ply for the issuance of short-time certi-
ficates which were to be used for the
purpose of making good the reserve
and of meeting the revenue deficiency,
but when the afternoon session opened
he had added a clause providing for the
free coinage of silver. There was a mo-
ton to strike out the silver provision
which was lost on a tie vote to 5, all
the republicans and Senator McPher-
son, democrat, voting for the motion
and all the other democrats opposing IL.
vote was then taken on the PROPOSE
ton as whole and it was lost by
vote of to 3. Senators Vest and White
and Mcpherson voted with the republic
cans.
The Voorhees, bill provides that the
secretary of the treaury is authorized,
in addition to the provisions of the act
of January, 1875, at his discretion, TO
issue certificates of indebtedness, paya-
bic to bearer, in coin, after three years
from date, at the option of the United
States. of the denominations of 500. $50
and 800 al per cent interest. and dis
pose of them for not less than an equal
amount of lawful money of the United
States. The National banking asSOcia-
ton, upon any deposit made as required
by law, shall be entitled to receive from
the comptroller of currency circulating
notes not exceeding the whole amount
of the par value of bonds, the total
amount not to exceed the amount paid
in capital stock. The secretary of the
treasury is authorized to receive at any
mint, from any citizen of the United
States, silver bullion of standard fine
ness and coin the same into silver dol
lars of 412h grains each, the seignior-
age going to the government and which
shall be the difference between the
coinage value and the price of bullion in
London. Whenever the said silver dol
lars shall be received into the treasury,
certificates of less than $40 may be is
sued thereon, as now provided by law.
The committee adjourned without
any definite time for meeting. The re-
publican members think nothing will
be done in the committee.
IN THE HOUSE COMMITTEE.
The house committee on banking and
currency started at IL o'clock upon con-
| sideratiOn of the administration bill.
! Practically no progress was made dur
! ing the early part of the day and all in
| dicatOns point to refreshing Of the
! financial question in all it's phases
! Representative Cox, democrat, of Ten
nessee, moved to report the bill to the
! house, which aroused chorus of oppo-
sition. Messrs. Henderson Of Illinois
Brosius of Pennsylvania and Haughen
of Wisconsin, republicans, objected
strenuously to what they termed sum
mary action. and Representative Cobb
democrat, declared he never would vote
the bill to the house in its present form
Thereupon Representative Russell, re-
publican. of Connecticut, moved that
the committee proceed to consideration
of the bill, which was agreed to inform.
! ally. Representative Walker Of Massa.
chusetts opposed the proposition OF
| the 50-year term for bonds and gave
notice that he would offer an amend.
ment for a shorter term. other repub.
leans stood with him on this objection
and also expressed the view that green.
backs should not be retired unless tn,
circulation was kept up to the present
volume by replacing the retired green
backs with national bank notes Rep
resentative Cox gave notice that ht
would move a substitute for the admin
istration bill. the Inflated Carlisle bill
with certain amendments Of his own
outlined heretofore. There may b,
adopted by the committee a rule limit
ing debate on amendments, which will
somewhat expedite matters. The com
mittee voted to strike out section o.
the administration bill providing FOL
the payment of customs duties i'm gold
The committee adopted amendments
to the administration bill to reduce tn,
tax on bank circulation to IA of l pc
cent. yearly, payable in two install
ments. and to make bonds payable a
the pleasure of the United States afte
10 years.