Evening journal., 1895-01-30
PATCHING UP THE BILL
Springer's Financial Measure
Amended by the Committee.
TO BE REPORTED IN A FEW DAYS

The House Committee Strikes out the Sec
tion Requiring Import Duties to He Paid
In Goid-House Decides Against Retalia-
tion ON Germany.
WASHINGTON. Jan. B0.--The house com.
mitteo on banking and currency spent the
day in debating the new administration
bill, went through il by sections, adopted
three important amendments and adjourn.
ed. leaving two amendments to be acted
upon.
Chairman Springer says the committee
will be able TO report the amended bill tc
the house today. Republican members
say the bill will be In committee two OF
three days longer, but all agree it will be
reported to the house in time. although
materially changed from the original plan.
elnoe the Republicans are disposed to CO.
operate with the administration Demo
Gratis
There was some spurring for points in
committee and general disposition TO
ingraft personal schemes upon the meas
ure, but as a whole the proceedings were
unusually free from partisanship Chair
man Springer has not yet decided how
much time he will ask the committee on
rules TO give for debate. The bill is
privileged ono and can be called up at any
time Accordingly the California Demo
cratic members, who are fighting the
Reilly Pacific railroad bill very bitterly,
are urging Mr.. Springer TO report the
financial measure today if possible and
displace the Reilly bill.
The action of the house upon the
amended bill seems to depend upon the
Republicans, who hold the balance Of
power. How far the amendments will
placate tho opposition remains to be seen.
but IL Is conceded that the chances OF the
measure arc much better in the house than
in the senate. It's opponents are largely
depending upon tho free silver senators to
talk it to death, as they may be able to dc
I'm body which has no rule by which 1t
can fix day for vote.
Two More Amendments Adopted.
The afternoon session of the committee
was more harmonious than that of the
morning and resulted in the adoption Of
two amendments Co tho bill. The first
proposed by Mr. Haugcn Of Wisconsin. re
duces the tax upon the circulation from
per cent per annum 90 one fourth Of
per cent, payable semiannually. The sec.
ond, proposed by Mr.. Walker Of Massa-
chusetts strikes out the fifth section Of
the bill-that requiring import duties 10
be paid in gold. The vote upon it was o
yeas to nays.
When the committee adjourned, two
amendments were pending One offered
by Mr. Russell stipulates that the retire
ment and cancellation Of legal tenders for
each month shall not be greater than the
increase In amount Of national bank notes
under the operation Of the plan. This
amendment was carried when first offer
ed, and then there was a successful mo.
tion to reconsider and postpone action for
a day.
Representative Walker stands as sponsor
FOR the other pending amendment, which
is co require one-half Of the reserve funds
of banks TO be held in gold coin or gold
certificates the other half in silver coin OF
silver certificates. Ten per cent Of the re.
serve IS TO be held IN this stipulated form
on July and 90 per cent at the end Of
three months, the change being made at
the rate of 10 per cent q quarter until
completed. The discussion on this nmend-
ment hinged on the point whether forcing
the banks to secure gold for deposits
would not cause a greater demand upon
the treasury for gold than the raids which
are now in progress.
Several amendments were proposed
which failed Most important OF their
number was one to substitute the word
coin" for gold" in the provision foI
payment Of the bonds. Another unsuccess-
ful amendment was one to give the seore
tary of the treasury discretion to fix the
rate Of interest on the bonds and to make
them payable after various short terms.