Alma record. (Alma, Mich.) 1878-1928, 1895-02-08
WASHINGTON MATTERS
STILL DISCUSSING THE
TREASURY MIDDLE.
CAR REED PROPOSES A PLAN
Anti-SiIver Men a Minority Memorial
Services supreme Court Decision
General Matters
snecial Correspondence.

Services supreme Court Decision.
General Matters.
Special Correspondence.
The work of printing a half billion
bonds for the latest bond issue was be-
gun in the government printing office
last Saturday night The call was Is
sued Tuesday of this week for $500
100000 in t per cent 30 years bonds.
There is no fear that the bonds will not
find ready sale. Indeed, it Is stated
on good authority that the ROthSchildS.
through their American agents, have
agreed to take 500. 600 of these
bonds, $4,000. 900 of which will be
marketed in Europe. and S25,000,000
disposed of to American purchasers.
A new bill has been reported to the
house by the committee on banking and
currency. The bin is reported without
recommendation, the committee feeling
it better that the house discuss the bill
free from any attempt TO torcstall It's
action The bill As reported, however,
is greatly modified and is less rcvolu-
tionary than in lis original form.
The first amendment made by the
committee refers To the length of time
the proposed new bonds would have 10
run. Fifty years was the one date fixed
in the original bill; the amendment
authorizes the government to redeem
them any time after ten years, and the
holder to demand payment after fifty
years.
In the original bill it was proposed to
retire and destroy the treasury notes as
fast as they were received: as amended,
this will be done only As national bank
notes are issued to take their places
and a semi-annual tax of one-eighth of
one per cent is to be imposed on these
bills, this tax to be in lieu of all other
taxation.
The section of the bill providing for
the retirement of bank notes less than
ten dollars in denomination, and their
places supplied by silver certificates OF
less than ten dollars in denomination, is
stricken out.
Just what is to be gained by such a
change, your correspondent does not
know. The people must have small
bills, ones, twos and tives, and whether
they are greenbacks, bank notes, or sill
yer certificates, is not much matter.
The provision that customs duties
shall be paid in gold is also eliminated
from the original bill.
A new section IN regard to the coin
reserves of the banks provides that one
half must be in gold, and the other may
be in silver.
The last amendment provides for the
repeal of the present restriction upon
national banks increasing their circula-
ton. So much of all laws as limit the
amount of all lawful money which may
be deposited during any calendarmontf
for the purpose of Withdrawing national
bank circulation, or prohibits any ma
tonal bank from receiving any increase
of its circulation during a period of sly
months from the time it shall have made
any deposit for the purpose of with
drawing its circulation, are 10 be re
pealed.
The official statement of receipts and
expenditures for January Is encourag
ing. The receipts were so, sO4 ,339, al
increase of nearly 100000 over tf'
receipts for December, and about 81,
600, 900 in excess of receipts January
1894. Disbursements in January aggre
gated $3i,523, 445, almost $3.000.00O
greater than i'm the same month 1894
February |. 1894, treasury expenditure
in excess of receipts were 500 100000
February l, 1895, disbursements wer
S34, 900, 900 in excess of revenue.
Gar Reed of Maine has currenc.
bill, which he offers as a substitute fo
the pending administration measure
All calculations OF the supporters an'
opponents of the administration bill ar
upset by the appearance of this neV
factor i'm the financial squabble. MI
Reeds bill is short in fact, there are bu
two sections to IT. One section provide
for the restriction of the law of 1915
which authorizes the secretary of tn
treasury to redeem the greenbacks, T.
three per cent; the other section author
ICES the secretary of the treasury, whc
a deficit occurs, TO issue certificates q
Indebtedness to pay current expenses
the certificates TO be in sums of S25. Sol
800, and any multiple thereof. bearin
interest at three per cent, and payabl