St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-01-31
BILL MUCH AMENDED.
administration Financial Meas
ure tn q I>eDorfed Friday

Administrations Financial Meas
ure to e Reported Friday.
WASHINGTON, Jan. 3O.-The admin
istration banking bill will be reported
to the house from the committee on
banking and currency in much
amended form, with a non cCmmital
recommendation that it be considered.
The Republicans supp ported the bill
after securing several amendments !;
indeed, most of the chan ges made orig
mated with the opp osition. The bill
will be reported to the house Friday
with the presidents message, and. as
The report will be neither for nor
against it, every me mber has the priv
ilege Of fling his vie VS..
The ame ndmentS which the commit
tee recommends are as follows: The
bo DIS which by the original bills were
payable fifty years after date are made
payable at the pleasure of the govern-
ment after ten years from the date of
their ssue and are due fifty 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:
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 equatto the additional circula-
ton taken out by national banks after
the passage Of this act.
Section 3 is amended by adding, on
motion of Mr.. Haugen, the following:
And in lieu of all existing taxes. every
association shall pay to the treasury Of
l,n init N bS nf
january and July, duty of one-eighth
Of per cent ach half year upon the
average amount of the notes issued TO
it bY the comptroller Of the curr ency."
On motion Of Mr.. Brosus. see. 4.
which provides that national Dauk
notes of less denomination than $40
shall be retired and cancelled, and an
equal amount in denominations of
$40 and upwards shall he Issued
in their places and that silver certiti-
Gates now outstanding larger than $40
should be retired and the silver certit-
Gates Of denominations less than $40
should be issued in their stead, was
stricken out.
Sections and were amended as fol-
lows:
Section s. That from and after July
l, 1895, 10 per cent of the cash reserve
leQulIeu DS law SHALL rDt hGpl Ill COLI vi
com certificates, and not less than half
Of such coin Or coin certificates
shall be in gold coin or gold
certificates, and that such cash
reserve required by law shall
be kept i'll coin or coin ceTtitl
Gates in amounts increased by 10 per
centum of the whole cash reserve re-
QGired to be kept by them on and after
the first day of each quarter of the cal
endar year until the whole cash reserve
shall be in coin Or coin certificates, and
not less than one-half Of such cash re-
serve shall at all times be i'll gold coin
or gold certificates.
Section was amended so as to pro-
vice that SO much of all laws and parts
OF laws as limit the amount of lawful
money which may be deposited dur
ing any calendar month for the pur-
pose of Withdrawing national bank
circulation, or which prohibits any ma
tiOnal banking association from receiv-
ing any increase of circulation during
the period OF six months from the time
it shall have made any deposit Of law
full money for the purpose of Withdraw
ing its circulation be repealed.