Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-02-07
HOUSE PROCEEDINGS.
The Finance Bili Being Voted on
MISUNDERSTANDING Matters.

The Finance nan Being voted on.
Amendmcnts--Other Matters.
Washington. Feb. 6.-The house met
at II O'Clock today and continued the
debate on the bill to authorize the issue
of s5O0,0OO,ooO gold bonds.
Before the house went into commit
tee of the whole the resolution Of Mr..
Livingston was passed suggesting ar
bitration OF the difficulty over the
boundary line dispute between British
Guinea and Venezuela. and also bill
granting to the ella Valley, Globe and
Northern Railroad company right OF
way through the san Carlos Indian res-
ervation, corrected to meet the objec-
Tons of the president III his veto mes
sage.
MIR. Broslus was the first speaker on
the financial measure today. He urged
the necessity for immediate relief and
earnestly advocated the passage Of tho
bill. He made an eloquent appeal to
his Republican colleagues to lay aside
party prejudice. In such crisis, he
81 Id. the representatives of the people
must be patriotic before they were par
tisan.
Mr.. Little Dem) of Arkansas op-
posed the bill. on the ground that its
passage would mortgage posterity to
maintain the gold standard. He also
antagonized the Cox substitute.
Mr.. Grow Oep) of Pennsylvania
supported the Reed substitute.
MI. oNeill Dem) OF Missouri and
Mr.. McRae pem) of Arkansas and
Mr.. Newlands (Pop) of Nevada oppos-
ed the bill. The latter made a free
silver argument, urging that free silver
would raise the debt paying ability Of
wheat, corn and cotton TO old figures
ana bring a return OF prosperity
Mr.. Bland then gave notice Of the
substitute he had prepared.
AT o'clock, under the special order.
general debate closed and the debate
proceeded under the five minute rule.
the bill being open to amendment in
any OF It's parts. 1t was agreed that
the substitutes OF Reed and Cox should
be considered pending.
Mr.. Springer offered the amendments
agreed upon by the committee on bank
ing and currency as necessary to the
measure. The amendment making the
bonds payable in ten years was agreed
to.
Mr., Breekinrdge of Kentucky gave
notice Of substitute he should offer
providing for the issue Of debt certlf-
Gates, the coinage of the seignorage
silver bullion aud the repeal of the
state bank tax.
The amendment TO limit the amount
of legal tenders retired by the amount
of additional circulation taken out by
national banks met with opposition
from Mr. Walker CRepublican) of Mas
sachusetts and Coombs Qemocra) Of
New York; but 1t was agreed to, 40
TO %.
Mr., Haugen offered an amendment to
the committee amendment imposing in
lieu OF other taxes a tax OF is of per
cent on the circulation OF national
banks, seml-annualy, and to reduce
the limit of capital necessary for the
corporation of national banks from $780,
900 to $4,000.
Mr.. Bryan (DemocrnO Of Nebraska,
opposed the amendment. One object.
he said, was to reduce the tax on cir
culation from cent to Ia cent and the
other would increase the number and
power of national banks.
Mr.. Haughen's amendment was
agreed to.
An amendment by Mr., Bryan to
make the limit to be charged by ma
tional banks for the loan of circulate
ing notes per cent was defeated
Another by Mr.. Stone Dem.) of
Kentucky, to prevent the contraction
OF the currency by national banks was
lost.
The original committee amendment
was then agreed to.
The committee amendment TO strike
out section OF the bill. prohibiting
the issue by national banks Of notes
of n denomination less than $40 and the
retirement of silver certificates OF over
SO. provoked considerable discussion
in the course Of which Mr.. Williams
mem) of Mississippi said the section
proposed to be stricken out was me
only one In the bill that gave VIDE
circulation TO silver.
Mr.. Hartman Rep) OF Montana OF
fered a substitute for the committee
a,,,andnent for the free coinage Of sill
yer the payment of customs should De
In gold and silver and the levy of an
additional duty of 50 per cent on goous
canning from countries which 90 MOI
omen their mints to the unlimited COM
age of silver.
Ruled out of order.
MIR Hartman appealed from the de-
cIslon OF the chair, but the chair was
sustained-i75 to .,
The committee amendment was
agreed TO. A.. rrar,.
man for the payment of customs uuty
half In gold and half in silver was
agreed to-S3 TO 72--after which inc
committee amendment was deteateu;
The committee amendment Ont
waiker's) TO compel national banks a,
tbe end OF thirty months TO carry az
| their reserve in coin. half in gold anc
I half in silver, was warmly opposed ns
| Mr. Hendricks Dem) OF New YORK
and others, who contended that thil
sn,endment would defeat the PURPOSE
~ the bill. The Walker amendmen
was defeated--34 10 i0l.
Mr. Bryan opposed the committe,'
amendment to the last section, wnei
yrovided for the repeal OF all laws Inn
,,,ng Inc amount Of national circula
lion which could be Withdrawn t9r a Inv
Increase of circulation Tor 81
an,hs after II had retired any OF 10
,ss,,istion, He claimed 1t would siv'
~ ~ NJ ixs power to contract or expane
~" The amendment was adopted-s'
| to 49, .,,...,,., thar offeref
h,s constitute as an amendment to th'
hr sr sn,ineer made a point of orde
,trst II. which was Sustained