Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1895-01-31
BILL AGREED UPON.
Response to the President by
the House Committee.
SUBSTANTIALLY WHAT WAS ASKED.

t1ined, Includisx Isouds and Retirement
Of the Greeubacks-Olncy's Arbitration
Proposition, Modified to Suit Labor Rep
resenfatives, Ordered Favorably Report.
ed-Capital Notes.
WASHINGTON, Jan. 3l.-The admins
tration banking bill will be reported to
the house from, the committee On banking
and currency in a much amended form
and with a non-committal recommended
ton that it be considered. The Republic
cans supported the bill. after securing
several amendments; indeed, III ost of the
changes made originated with the oppO-
sition. The bill will be reported to the
house tomorrow with the presidents mes
sage, and as the report will be neither
for or against it every member has the
privilege of filing his views. After the
various amendments had been disposed
OF a motion was made that the Carlisle
bill with the state bank clause eliminat-
ed, he substituted for it. This was lost
8 to 4-Black, Cobb, Cox and Hall-D' m
c-ats-voting for it.
How the Vote Finally Stuol.
A motion to report with the rccomm ~
datiOn that it do not pass was lost-luto3.
Cobb, Black. and Hall supported il, and
the final motion that it be reported with
out any recommendation was car-iei--IO
to Cobb, Black. and Hall in the opposi-
ton. The members who voted for The
last motion were: Springer, Sperry, Cox,
Cobb and Warner (Dcmocrats); WLikcr,
Brosius, Henderson, Russell, and Haughen
l.
the committee have recommended to the
administration bill are as follows: The
bonds, which by the original bill were
payable fifty years after date, are made
payable at the pleasure of the United
States after ten years from the date Of
their issue and are due fifty years aftcr
date.
To Prevent Contraction Of Currency.
The section which requires the legal
tender notes and treasury notes when re-
| deemed in geld to be cancelled and not reis-
| sued is amended by adding the following
offered by Russell: provided, that the
amount of such United States notes
| which may he cancelled and retired shall
not exceed in the aggregate an amount
equal to the additional circulation taken
| out by national banks after the passage of
| this act"
Section 3 OF the act is amended by add
| ing on motion of Haughen, the following:
| "And in lieu of all existing taxes every as.
ISOLATION shall pay to the treasury of the
United States in the months of January
and July, duty CT one-eighth of per
cent. each half year upon the average
amount of the notes issued to it by the
comp; roller Of the currency
Two Sc. tions Stricken Out. =
1 I'm p,nfinn of RrnSits he. fourth Sac.
| ton of the bill which prov des that ma
tional bank notes of less denomination
than SO shall be retired and cancelled
| and an equal amount in denominations Of
| $40 and upward shall be issued in their
| places, and that silver certificates now
| outstanding larger than $40 should be re
tired and the silver certificates of denom-
| nations of less than SO should be issued
in their stead. was stricken out. On mo-
of Walker section s. which requires duty
on imports to he paid in gold coin only,
| was stricken out.
Cash Reserves of Banks.
Walkers amendment. relating to bank
cash reserves, outlined yesterday in these
dispatches, was adopted, and on motion
of Warner section 6 was amended SO as to
provide that SO much of all laws and
parts of laws as limit the amount of law.
full money which may be deposited dur
ing any calendar month for the purpose
of withdrawing national bank circula-
ton, or which prohibit any national bank.
ing association from receiving any in.
crease Of its circulation during the period
of six months from the time i5 shall have
made any deposit of lawful money for the
| purpose of withdrawing its circulation.
| he repealed.
Debate to Begin Next Monday.