St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-01-31
BILL MUCH AMENDED.
4 administration Financial Meas.
t,re to e lteDorted Friday.

tire to 'e keDoFted FRIDAY.
WASHINGTON, Jan. 30.-The admin
istration bank ing bill will be reported
to the houSU from the committee on
banking and currency in much
amended form, with non cCmmital
recommendation that it be considered.
The Republicans supported the bill
after securing several amendments
indeed, most Of the chan yes made orig
mated with the opposition. The bill
will be reported to the house Friday
with the presidents message, and, as
lhe report will be neither for nor
against it, every me mber has the priv
ilege Of fling his yiew
The anne 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 aud 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 eQualto the additional crcula-
ton taken cut by national banks after
the passage Of this act.
Section 5 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
the United. States, i'll the months of
January and July, a duty of one-eighth
Of l 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.. Brosius. sec. 4,
which provides that national bauk
notes of less denomination than SlU
shall be retired and cancelled, and an
equal amount in denominations of
$40 and upwards shall be issued
in their places and that silver certifi-
Gates now outstanding larger than $40
should be retired and the silver certitl-
Gates Of denominations less than $40
should be issued in their stead, was
stricken out.
Sections and were amended as fol-
lows:
Section 5. That from and after July
l, 1895, 10 per cent of the cash reserve
required by law shall be kept in coin or
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 ceTtiil-
Gates in amounts increased by 10 per
centum of the whole cash reserve re-
qnired 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 in gold coin
OF 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
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.